95-4891 Issue NotesGILMORE & BELL
Draft - July 12, 1995
Document No. K 10269 1 \Authres 1
RESOLUTION NO.g�J—q
OF THE
CITY OF SALINA, KANSAS
$1,900,000
GENERAL OBLIGATION MUNICIPAL TEMPORARY NOTES (LANDFILL PROJECT)
SERIES 1995-1
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INDEX
Definitions .................................
Authorization of and Security for the Notes ..............
Description of the Notes, Designation of Paying Agent
and Note Registrar ............................
No Redemption of Notes Prior to Maturity ..............
Method and Place of Payment of Principal of and Interest
on the Notes ................................
Execution, Authentication and Delivery of the Notes ........
Registration, Transfer and Exchange of Notes ............
Persons Deemed Owners of Notes ....................
Mutilated, Lost, Stolen or Destroyed Notes ..............
Cancellation and Destruction of Notes Upon Payment ........
Form of Notes ................................
Disposition of Note Proceeds and Other Funds ............
Levy and Collection of Annual Taxes ..................
Transfer of Funds to Paying Agent and the Note Registrar .....
Authorization of Agreement Between the City and the
Note Registrar ...............................
Tax Covenants ................................
Defeasance ..................................
Severability ..................................
Further Authority ..............................
Effective Date ................................
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RESOLUTION NO. q 5 `1 691
ARESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND DELIVERY OF
$ ,900,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION MUNICIPAL TEMPORARY
NI)TES (LANDFILL PROJECT), SERIES 1995-1 OF THE CITY OF SALINA, KANSAS FOR THE
PI JRPOSE OF PROVIDING FUNDS TO PAY THE COST OF CERTAIN IMPROVEMENTS TO AND
T 1E ACQUISITION OF NECESSARY EQUIPMENT FOR THE CITY'S SOLID WASTE FACILITY;
P SCRIBING THE FORM AND DETAILS OF SAID NOTES; PROVIDING FOR THE LEVY AND
C LLECTION OF THE NECESSARY TAXES FOR THE PURPOSE OF PAYING THE PRINCIPAL
O7 AND INTEREST ON SAID NOTES AS THEY BECOME DUE; AND AUTHORIZING AN
A REEMENT BETWEEN THE CITY AND THE NOTE REGISTRAR.
WHEREAS, the City of Salina, Kansas (the "City"), collects and disposes of solid waste as a
al function under the laws of the State of Kansas, including K.S.A. 12-2101 et sea. (the "Act);
WHEREAS, the governing body of the City hereby finds and determines that it is necessary to
uct improvements to and to acquire necessary equipment for the City's solid waste facility (the
xt") and that the City has insufficient funds to pay for the entire cost of the Project at the present
and
WHEREAS, pursuant to Resolution Number 94-4687, the City has previously expressed its intent
ssue approximately $1,500,000 of temporary notes and general obligation bonds (the "Obligations")
the Project, and, pursuant to the authority established by Resolution Number 94-4687, the City has
ped $285,000 principal amount of Municipal Temporary Notes (Landfill Project) Series 1994-B and
)rtion of its General Obligation Internal Improvement Bonds, Series 1995-A in the principal amount
735,000, which leaves $420,000 of remaining authority for additional City Obligations to be issued
er Resolution Number 94-4687; and
WHEREAS, the City is continuing work on the Project by constructing improvements to and
a6luiring equipment for the City's solid waste facility and pursuant to Resolution Number 95- I'a , the
C y has previously expressed its interest to issue additional obligations in the amount of approximately
$ (which is in addition to the $420,000 of remaining authority under Resolution Number
9 4687); and
WHEREAS, all legal requirements pertaining to the Project have been complied with, and the
has entered into additional contracts for the construction of certain improvements to and the
sition of certain equipment which are a part of the Project; and
WHEREAS, the governing body of the City now finds and determines that the cost of the
of resaid equipment and related expenses (including issuance costs of the notes herein authorized) is
$1 900,000 and it is necessary for the City to issue the notes herein authorized to pay said cost of this
portion of the Project; and
WHEREAS, the governing body of the City is authorized by law, including K.S.A. 10-123, to
general obligation notes of the City to pay the costs of the Project; and
WHEREAS, the governing body of the City has requested bids for the purchase of the notes
authorized and the interest rates established herein are the rates of the lowest bidder; and
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"Project" means the construction of certain improvements to and the acquisition of necessary
= for the City's solid waste facility.
"Registration Date" means the effective date of registration of a Note as evidenced by the Note
r in the Certificate of Authentication appearing on the Note.
"Regular Record Date" for the interest payable on any Interest Payment Date means the 15th day
hether or not a business day) of the calendar month next preceding such Interest Payment Date.
"Resolution" "this Resolution" "hereof" "herein" "hereto" and similar terms shall refer to this
on of the City authorizing the Notes, as originally executed or as it may be supplemented or
I from time to time.
"Special Record Date" for the payment of any Defaulted Interest, as defined in Section 5, means
a ate fixed by the Note Registrar pursuant to Section 5.
"Stated Maturity" when used with respect to any Note or any installment of interest thereon
ans the date specified in Section 3 of this Resolution as the fixed date on which the principal of such
to or such installment of interest is due and payable.
Section 2. Authorization of and Security for the Notes. For the purpose of providing funds for
Project, there shall be issued and are hereby authorized and directed to be issued the General
igation Municipal Temporary Notes (Landfill Project), Series 1995-1, of the City in the principal
unt of $1,900,000. The sale of the Notes to 7&OAA-y- 1V w , LL.4c,-,
)j Sa% , is authorized and approved.
The Notes shall be general obligations of the City, payable as to both principal and interest from
ai I valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible
p perty, real and personal, within the territorial limits of the City. The full faith, credit and resources
o the City are hereby irrevocably pledged for the payment of the Notes and the interest thereon as the
same become due.
Section 3. Description of the Notes. Designation of Paying Agent and Note Re isg tray. The Notes
1 consist of fully registered Notes, without coupons, transferable to subsequent owners only in the
to Register maintained by the Note Registrar as hereinafter provided. Each Note shall be in the
nomination of $100,000 or any integral multiple of $50,000 in excess thereof, not exceeding the
ncipal amount of Notes maturing in the year in which such Note becomes due, as specified by the
lder of such Note. The Notes shall be numbered in a manner determined by the Note Registrar. The
tes shall be dated as of July 1, 1995 and shall mature and shall bear interest at the rates per annum
follows:
MATURITY
PRINCIPAL
INTEREST
DATE
AMOUNT
RATE
March 1, 1996
$300,000
530%
September 1, 1996
300,000%
March 1, 1997
300,000
%
September 1, 1997
300,000
qog%
March 1, 1998
350,000
QL%
September 1, 1998
350,000
q./S %
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The Notes shall bear interest from the most recent Interest Payment Date to which interest has
i paid in full or, if no interest has been paid, from July 1, 1995. Interest on the Notes at the rates
•esaid shall be payable semiannually on March 1 and September 1 in each year, beginning March 1,
6. The State Treasurer of Kansas, Topeka, Kansas, is hereby designated as the Paying Agent and as
Note Registrar for the Notes.
Section 4. No Redemption of Notes Prior to Maturity. The Notes shall not be subject to
ion and payment prior to their Stated Maturity.
Section 5. Method and Place of Payment of Principal of and Interest on the Notes. The principal
premium, if any, and interest (computed on the basis of a 360 -day year of twelve 30 -day months) on
e Notes shall be payable in such coin or currency of the United States of America as at the time of
yment is legal tender for the payment of public and private debts. Payment of the interest on each Note
all be made by the Paying Agent on each Interest Payment Date to the Person appearing as the Holder
-.reof in the Note Register at the close of business on the Regular Record Date next preceding said
terest Payment Date, by check or draft mailed to such Holder at the Holder's address as it appears in
Note Register. The principal of and redemption premium, if any, each Note shall be payable to the
)lder thereof upon the presentation of such Note for payment and cancellation at its Maturity at the
incipal office of the Paying Agent.
Notwithstanding any of the foregoing provisions of this Section to the contrary, any interest on
Notes which is payable, but is not punctually paid on any Interest Payment Date (herein called
lefaulted Interest"), shall be payable to the persons in whose names the Notes are registered at the close
business on a Special Record Date. The Special Record Date shall be fixed in the following manner:
The City shall notify the Note Registrar in writing of the amount of Defaulted Interest proposed to
paid on the Notes and the date of the proposed payment, which proposed payment date shall be at least
days after receipt by the Note Registrar of spch notice from the City; (2) at the same time the City
ill deposit with the Paying Agent an amount of money equal to the aggregate amount to be paid in
,pest of such Defaulted Interest or shall make arrangements satisfactory to the Paying Agent for such
?osit prior to the date of the proposed payment; and (3) thereupon, the Note Registrar shall fix a
:tial Record Date for the payment of such Defaulted Interest which shall not be more than 15 nor less
m 10 days prior to the date of the proposed payment.
The Note Registrar shall promptly notify the City of such Special Record Date and, in the name
at the expense of the City, shall cause notice of the proposed payment of such Defaulted Interest and
Special Record Date therefor to be mailed, first class postage prepaid, to the Holder of each Note at
Holder's address as it appears in the Note Register, not less than 10 days prior to such Special Record
e. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor
ing been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the
:es are registered at the close of business on such Special Record Date.
idSubject to the foregoing provisions of this Section, each Note delivered under this Resolution
on transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued
unpaid, and to accrue, which were carried by such other Note.
Section 6. Execution. Authentication and Delivery of the Notes. The Notes shall be executed
behalf of the City by the facsimile signature of its Mayor and attested by the facsimile signature of
City Clerk, and shall have the seal of the City affixed thereto or imprinted thereon. In the event any
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facer whose signature or facsimile thereof appears on any Note shall cease to be such officer before the
.livery of such Note, such signature or facsimile thereof shall nevertheless be valid and sufficient for
I purposes, the same as if such person had remained in office until delivery. Any Note may be executed
such persons as at the actual time of the execution of such Note shall be the proper officers to sign
ch Note although at the original date of such Note such persons may not have been such officers.
The Notes shall have endorsed thereon a Certificate of Authentication substantially in the form
reinafter set forth and which shall have the date of registration inserted and shall be manually executed
the Note Registrar. The Notes shall be countersigned by the manual or facsimile signature of the City
erk and the seal of the City shall be affixed or imprinted adjacent thereto following registration of the
)tes by the Treasurer of the State.
No Note shall be entitled to any security or benefit under this Resolution or shall be valid or
ligatory for any purpose unless and until such Certificate of Authentication shall have been duly
ecuted by the Note Registrar by manual signature. Such executed Certificate of Authentication upon
y Note shall be conclusive evidence that such Note has been duly authenticated and delivered under this
:solution and that such registered owner has been entered on record in the Note Register kept by the
)te Registrar. The Certificate of Authentication shall be deemed to have been duly executed if the
;gistration Date has been inserted and if it has been signed by any authorized officer or employee of
Note Registrar, but it shall not be necessary that the same officer or employee sign the Certificate of
ithentication on all of the Notes that may be issued hereunder at any one time.
The Mayor and the City Clerk are hereby authorized and directed to prepare and execute the
)tes in the manner hereinbefore specified, the City Clerk is hereby authorized and directed to register
Notes, and the Mayor and the City Clerk are hereby authorized and directed to cause the Notes to
registered in the office of the State Treasurer of Kansas as provided by law, and when the Notes have
an duly registered with the Note Registrar, to deliver the Notes to the original purchaser named in
ction 2 hereof upon the payment of the aggregate principal amount of the Notes plus accrued interest
the date of payment and delivery, together with any premium.
Section 7. Registration. Transfer and Exchange of Notes. So long as any of the Notes remain
tstanding, the City shall cause the Note Register to be kept at the principal office of the Note Registrar
i all of the Notes and transfers and or exchanges thereof shall be fully registered as to both principal
I interest in the names of the Holders in the Note Register and shall not be registered to bearer.
Notes may be transferred in the Note Register only upon surrender thereof to the Note Registrar
ly endorsed for transfer or accompanied by a written instrument of transfer duly executed by the
elder thereof or his attorney or legal representative in such form as shall be satisfactory to the Note
gistrar. Upon any such transfer, the City shall execute and the Note Registrar shall authenticate and
iver in exchange for such Note a new Note or Notes, registered in the name of the transferee, of any
iomination or denominations authorized by this Resolution in an aggregate principal amount equal to
principal amount of such Note, of the same Maturity and bearing interest at the same rate.
Notes, upon surrender thereof at the principal office of the Note Registrar, together with a written
trument of transfer duly executed by the Holder thereof or his attorney or legal representative in such
m as shall be satisfactory to the Note Registrar, may, at the option of the Holder thereof, be exchanged
an equal aggregate principal amount of Notes of the same Maturity, of any denomination or
iominations authorized by this Resolution, and bearing interest at the same rate.
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In all cases in which Notes shall be exchanged or transferred hereunder, the City shall execute
d the Note Registrar shall authenticate and deliver at the earliest practicable time Notes in accordance
th the provisions of this Resolution. All Notes surrendered in any such exchange or transfer shall
rthwith be cancelled by the Note Registrar. No service charge shall be made to any Noteholder for
;istration, transfer or exchange of Notes, but the City or the Note Registrar may make a charge for
cry transfer or exchange of Notes sufficient to reimburse it or them for any tax or other governmental
arge required to be paid with respect to such transfer or exchange, and such charges shall be paid
fore any such transfer or exchange shall be completed.
The City and the Note Registrar shall not be required to issue, transfer or exchange any Note
ig a period beginning at the opening of business on the day after receiving written notice from the
of its intent to pay Defaulted Interest and ending at the close of business on the date fixed for the
lent of Defaulted Interest pursuant to this Resolution.
Section 8. Persons Deemed Owners of Notes. The Person in whose name any Note shall be
tiered shall be deemed and regarded by the City, the Note Registrar and the Paying Agent as the
lute owner thereof, whether such Note shall be overdue or not, for the purpose of receiving payment
;for or on account thereof and for all purposes, and neither the City, the Note Registrar nor the
ng Agent shall be affected by notice to the contrary. Payment of or on account of the principal of
interest on any Note shall be made only to or upon the order of the Holder thereof or his legal
-Isentative. All such payments shall be valid and effectual to satisfy and discharge the liability upon
Note, including the interest thereon, to the extent of the sum or sums so paid.
Section 9. Mutilated, Lost. Stolen or Destroyed Notes. In the event any Note shall become
itilated, or be lost, stolen or destroyed, the City shall, if necessary, execute and the Note Registrar
ill authenticate and shall deliver a new Note of like date and tenor as the Note mutilated, lost, stolen
destroyed; provided that, in the case of any mutilated Note, such mutilated Note shall first be
gendered to the Note Registrar, and in the case of any lost, stolen or destroyed Note, if the
luirements of K.S.A. 84-8-405 are met and if an indemnity note and affidavit of loss are provided to
Note Registrar and the City at the expense of the Holder. Such indemnity note and affidavit of loss
ist be sufficient, in the judgment of the Note Registrar and the City, to protect the Note Registrar and
City from any loss which either of them might suffer if the Note is replaced. In the event any such
ite shall have matured, instead of issuing a substitute Note the City may pay or authorize the payment
the same without surrender thereof. Upon the issuance of any substitute Note, the City and the Note
gistrar may require the payment of an amount sufficient to reimburse the City and the Note Registrar
any tax or other governmental charge that may be imposed in relation thereto and any other
isonable fees and expenses incurred in connection therewith. The provisions of this Section are
-lusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
)lacement or payment of mutilated, lost, stolen or destroyed Notes.
Section 10. Cancellation and Destruction of Notes Upon Payment. All Notes surrendered for
p yment, transfer or exchange shall be delivered to the Note Registrar and, if not already cancelled, the
to Registrar shall cancel such Notes and record such cancellation in the Note Register. Thereafter,
siich cancelled Notes shall be delivered to the City.
Section 11. Form of Notes. The Notes and the Note Registrar's Certificate of Authentication
be endorsed thereon shall be in substantially the form attached hereto as Exhibit "A". The Notes may
e endorsed thereon such legends or text as may be necessary or appropriate to conform to any
W
iplicable rules and regulations of any governmental authority or any custom, usage or requirement of
w with respect thereto.
Section 12. Disposition of Note Proceeds and Other Funds. All accrued interest and premium,
any, received from the sale of the Notes shall be deposited in the Principal and Interest Account for
eneral Obligation Municipal Temporary Notes (Landfill Project), Series 1995-1 (the "Principal and
terest Account") held by the City Treasurer for the retirement of the Notes.
The remaining balance of the proceeds derived from the sale of the Notes shall be deposited in
fund (the "Series 1995-1 Project Fund") held by the City Treasurer and shall be used solely for the
irpose of paying the costs of the Project and the costs of issuing the Notes. Any moneys remaining in
e Series 1995-1 Project Fund after the completion of the Project will be deposited in the Principal and
terest Account and used to pay the next maturing principal of and interest on the Notes.
Section 13. Levy and Collection of Annual Taxes. The governing body of the City shall
mually make provision for the payment of the principal of and interest on the Notes as the same become
ie by levying and collecting the necessary taxes therefor in the manner provided by law.
Section 14. Transfer of Funds to Patting Agent and the Note Registrar. The City Treasurer is
reby authorized and directed to withdraw from the funds received in payment of the taxes and from
e Principal and Interest Account of the City and forward to the Paying Agent sums sufficient to pay the
incipal of and interest on the Notes as and when the same become due and to pay the charges of the
ying Agent for acting as paying agent in the payment of principal and interest. In addition, the City
easurer is hereby authorized and directed to withdraw from the Principal and Interest Account and
%rward to the Note Registrar sums sufficient to pay the charges of the Note Registrar for acting as note
r gistrar. Sums sufficient to pay said charges shall be forwarded to the Paying Agent and Note Registrar
C,Yer and above the amount of the principal of and interest on the Notes.
Section 15. Authorization of Agreement Between the City and the Note Registrar. The
greement between the City and the State Treasurer of Kansas, in substantially the form attached hereto,
ith respect to the duties of the State Treasurer as Note Registrar is in all respects hereby approved,
ithorized and confirmed and the Mayor and City Clerk are hereby authorized and directed to execute
id Agreement for and on behalf of the City.
Section 16. Tax Covenants.
(a) The City covenants and agrees that (1) it will comply with all applicable provisions of
Internal Revenue Code of 1986, as amended (the "Code"), including Sections 103 and 141 through
), necessary to maintain the exclusion from gross income for federal income tax purposes of the
;rest on the Notes and (2) it will not take any action, or fail to take any action, if any such action or
ure to take action would adversely affect the exclusion from gross income of the interest on the Notes.
City will, in addition, adopt such other ordinances or resolutions and take such other actions as may
necessary to comply with the Code and with all other applicable future laws, regulations, published
ings and judicial decisions, in order to ensure that the interest on the Notes will remain excluded from
eral gross income, to the extent any such actions can be taken by the City.
(b) The City covenants and agrees that (1) it will comply with all requirements of Section
of the Code to the extent applicable to the Notes, (2) it will use the proceeds of the Notes as soon
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is practicable and with all reasonable dispatch for the purposes for which the Notes are issued and (3)
t will not invest or directly or indirectly use or permit the use of any proceeds of the Notes or any other
ands of the City in any manner, or take or omit to take any action, that would cause the Notes to be
Carbitrage bonds" within the meaning of Section 148(a) of the Code.
(c) The City covenants and agrees that it will pay or provide for the payment from time to
e of all amounts required to be rebated to the United States pursuant to Section 148(f) of the Code and
Treasury Regulations applicable to the Notes from time to time. This covenant shall survive payment
full or defeasance of the Notes. The City specifically covenants to comply with the Arbitrage
tructions attached as Exhibit A to the Arbitrage Certificate. Notwithstanding anything to the contrary
stained herein, the Arbitrage Instructions may be amended or replaced if, in the opinion of counsel
ionally recognized on the subject of municipal notes, such amendment or replacement will not
,ersely affect the exclusion from gross income for federal income tax purposes of interest on the Notes.
(d) The City makes the following representations in connection with the exception for small
cental units from the arbitrage rebate requirements under Section 148(f)(4)(D) of the Code:
(1) the City is a governmental unit under Kansas law with general taxing powers;
(2) none of the Notes is a private activity bond as defined in Section 141 of the Code;
(3) 95 percent or more of the net proceeds of the Notes are to be used for local
governmental activities of the City;
(4) the aggregate face amount of all tax-exempt bonds (other than private activity
bonds) issued by the City (and all subordinate entities thereof) during the calendar year 1995 is
not reasonably expected to exceed $5,000,000); and
(5) the City (including all subordinate entities thereof) will not issue in excess of
$5,000,000 of tax-exempt bonds (including the Notes but excluding private activity bonds) during
the calendar year 1995 without first obtaining an opinion of nationally recognized counsel in the
area of municipal finance that the exclusion of the interest on the Notes from federal gross
income will not be adversely affected thereby.
(e) The City hereby designates the Notes as "qualified tax-exempt obligations" as defined in
265(b)(3) of the Code. In addition, the City hereby represents that:
(1) the aggregate face amount of all tax-exempt obligations (other than private activity
bonds which are not "qualified 501(c)(3) bonds") which will be issued by the City (and all
subordinate entities thereof) during calendar year 1995 is not reasonably expected to exceed
$10,000,000; and
(2) the City (including all subordinate entities thereof) will not issue an aggregate
principal amount of obligations designated by the City to be "qualified tax-exempt obligations"
during the calendar year in which the Notes are issued, including the Notes, in excess of
$10,000,000, without first obtaining an opinion of Bond Counsel that the designation of the Notes
as "qualified tax-exempt obligations" will not be adversely affected.
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Mayor is hereby authorized to take such other action as may be necessary to make effective the
;nation in this subsection (f).
(f) The foregoing covenants shall remain in full force and effect notwithstanding the
ice of the Notes pursuant to Section 17 of this Resolution until the final maturity date of all Notes
Section 17. Defeasance. When all of the Notes shall have been paid and discharged, then the
quirements contained in this Resolution and all other rights granted hereby shall terminate. Notes shall
deemed to have been paid and discharged within the meaning of this Resolution if there shall have
en deposited with the Paying Agent or with a bank located in the State of Kansas and having full trust
wers, at or prior to the Stated Maturity of said Notes, in trust for and irrevocably appropriated thereto,
)neys and/or direct obligations of, or obligations the principal of and interest on which are guaranteed
the United States of America, or in evidences of ownership of such obligations, which, together with
interest to be earned on any such obligations, will be sufficient for the payment of the principal of
4 Notes and interest accrued to the Stated Maturity, or if default in such payment shall have occurred
such date, then to the date of the tender of such payments. Any moneys and obligations which at any
ie shall be deposited with said Paying Agent or bank or on behalf of the City, for the purpose of
ying and discharging any of the Notes, shall be and are hereby assigned, transferred and set over to
h Paying Agent or bank in trust for the respective Holders of the Notes, and such moneys shall be and
hereby irrevocably appropriated to the payment and discharge thereof. All moneys deposited with
.d Paying Agent or bank shall be deemed to be deposited in accordance with and subject to all of the
visions contained in this Resolution.
Section 18. Severability. If any one or more of the covenants or agreements provided in this
olution (including the exhibits hereto) on the part of the City should be contrary to law, then such
enant or covenants or agreement or agreements shall be deemed severable from the remaining
enants and agreements, and shall in no way affect the validity of the other provisions of this
olution or of said exhibits. It shall not be necessary for said exhibits to be published in the official
r newspaper, but all such exhibits shall be on file in the office of the City Clerk and shall be available
inspection by any interested party.
Section 19. Further Authority. The Mayor, City Clerk, Finance Director and other City officials
hereby further authorized and directed to execute any and all documents and take such actions as they
i deem necessary or advisable in order to carry out and perform the purposes of the Resolution to
ce alterations, changes or additions in the foregoing agreements, statements, instruments and other
uments herein approved, authorized and confirmed which they may approve and the execution or
ng of such action shall be conclusive evidence of such necessity or advisability.
Section 20. Effective Date. This Resolution shall take effect and be in full force from and after
passage by the governing body.
N
U7 -IJ -p5 U1.37FM FROM GILMORE & BELL TO 19138267244 P013/018
PASSED by the governing body of the City of Salina, Kansas, chis 17th day of July, 1995.
(SEAL)
ATTEST:
(—L�"erk
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Vice Mayor
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EXHIBIT A
EGISTERED REGISTERED
NUMBER $
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
GENERAL OBLIGATION MUNICIPAL TEMPORARY NOTES
(LANDFILL PROJECT)
SERIES 1995-1
Maturity Dated
Date Date CUSIP
% Per Annum July 1, 1995
HOLDER:
AL AMOUNT: DOLLARS
The City of Salina, in the County of Saline, State of Kansas (herein called the "City"), for value
;eived, hereby promises to pay to the Registered Holder identified above, or registered assigns, on the
aturity Date identified above, the Principal Amount identified above and to pay interest thereon at the
serest Rate specified above from the most recent Interest Payment Date to which interest has been paid
full or, if no interest has been paid, from July 1, 1995, semiannually on March 1 and September 1 in
-h year, beginning March 1, 1996.
INTEREST on this Note will be paid by check or draft mailed to the person in whose name this
ate (or one or more predecessor Notes) is registered in the Note Register maintained by the Note
gistrar at the close of business on the fifteenth day of the month next preceding each interest payment
:e (the "Regular Record Date"). Interest not punctually paid will be paid as otherwise provided in the
�olution authorizing this Note (the "Resolution"). The Principal Amount of this Note shall be payable
check or draft to the Registered Holder upon presentation and surrender hereof at the principal office
the State Treasurer of Kansas, in the City of Topeka, Kansas. The full faith, credit and resources of
City are hereby irrevocably pledged for the prompt payment of the principal of and interest on this
ite as the same become due. The principal of and interest (computed on the basis of a 360 -day year
twelve 30 -day months) on this Note are payable in such coin or currency of the United States of
nerica as at the time of payment is legal tender for payment of public and private debts.
REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON
REVERSE HEREOF. SUCH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME
''CT AS IF SET FORTH HERE.
A-1
THIS NOTE shall not be valid or become obligatory for any purpose or be entitled to any
ty or benefit under the Resolution until the Certificate of Authentication hereon shall have been
and executed by the Note Registrar.
IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions and things required to
done and to exist precedent to and in the issuance of this Note have been done and performed and do
st in due and regular form and manner as required by the constitution and laws of the State of Kansas,
I that the total indebtedness of the City, including this Note and the series of which it is one, does not
.eed any constitutional or statutory limitation.
IN WITNESS WHEREOF, the governing body of the City of Salina, Kansas, has caused this
e to be signed by facsimile signature of its Mayor and attested by facsimile signature of its City Clerk,
City's corporate seal to be printed hereon and this Note to be dated July 1, 1995.
CITY OF SALINA, KANSAS
By (facsimile)
Mayor
ITTEST:
City Clerk
This Note shall not be negotiable unless and until countersigned below by the City Clerk
ig registration by the Treasurer of the State of Kansas.
CERTIFICATE OF AUTHENTICATION
TION DATE:
(facsimile)
City Clerk
This Note is one of the Notes described in the within mentioned Resolution.
OFFICE OF THE STATE TREASURER OF KANSAS
Note Registrar
)te Registrar and Paying Agent:
'ATE TREASURER OF KANSAS
Registration No. 0322-085-070195-951
A-2