8010 IRB Lease Wyatt Manu1
i-ia rcn P, ( � P4cR
ORDINANCE NUMBER.
AN ORDINANCE AUTHORIZING THE CITY OF SALINA, KANSAS,
TO LEASE A BUILDING AND A SITE THEREFOR, TO BE
USED FOR INDUSTRIAL AND MANUFACTURING FACILITIES,
TO THE WYATT MANUFACTURING CO. INC.
WHEREAS, the City of Salina, Kansas, a City of the First
Class, hereinafter sometimes referred'to as "City", has auth-
orized the issuance of industrial revenue bonds of the City in
the principal amount of $100,000.00 for the purpose of provid-
ing funds to pay the cost of purchasing and acquiring a build-
ing and a site therefor to be leased to The Wyatt Manufacturing
Co., Inc., a Kansas corporation, hereinafter sometimes referred
to as "Company", to Ordinance No. �<_� 4<1 , hereinafter
sometimes referred to as "Bond Ordinance".
WHEREAS, the City has authorized the issuance of said in-
dustrial revenue bonds, hereinafter sometimes referred to as
"Bonds", to promote, stimulate and develop the general economic
welfare and prosperity of the City of Salina, Kansas, and its
environs, and thereby to further promote, stimulate and develop
the general economic welfare and prosperity of the State of
Kansas pursuant to the provisions of K.S.A. 12-1740 to 12-1749,
and under the provisions of K.S.A. 12-X1741, the City is auth-
orized to lease the building and a site therefor acquired from
the proceeds of said bonds, and it is hereby found and deter-
mined to be advisable and in the best interests and for the
welfare of the City and its inhabitants that the building and
the site therefor to be acquired from the proceeds of said bonds
be leased to the Company for a rental sufficient to amortize
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the payment of said bonds in the timeland manner required under
the provisions of the Bond Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF
THE CITY OF SALINA, KANSAS:
SECTION 1. That the City of Sarna, Kansas, is hereby
authorized to lease to the Company anlindustrial and manufac-
turing facility, consisting of the fo�lowing described real
estate, to -wit:
Lot Ten (10) and Lot Eleven (11)',in White Acres
Addition, a sub -division of Trac�s Three (3) and
Five (5) of Thomas White Farm, aO addition to the
City of Salina, Saline County, K nsas, subject to
an easement granted to the City f Salina, Kansas
for the construction, installation, repair, re-
placement and maintenance of a pump station to be
located within the South Twenty-�ive (25) Feet of
the East Twenty -Five (25) Feet of said Lot Eleven
(11), and subject to pipe line right-of-way and
other easements, rights-of-way and restrictions of
record;
together with the building, improvemerQts and fixtures located
thereon and appurtenances relating thereto, hereinafter some-
times referred to as "facility", in accordance with the provi-
sions of a lease dated as of March 1,'i1969, between the City
and The Wyatt Manufacturing Co., Inc.' A copy of said lease is
available for inspection at the offic� of the City Clerk of
the City.
SECTION 2. The lease described and
referred to in Section
1 hereof shall become effective
upon issuance
of the Salina,
Kansas, The Wyatt Manufacturing
Co., Inc.
Revenue Bonds of 1969,
of the City of Salina, Kansas,
authorized
under the provisions
of the Bond Ordinance, and upon
the Ci
y
acquiring the facility
from the owner thereof from the
proceeds
i
of said bonds.
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SECTION 3. The City hereby pledges the facility and the
rental to be received under the terms of said lease to the
payment of the bonds and the interest thereon, in accordance
with the terms of the Bond Ordinance.
SECTION 4. The Mayor and City Clerk are hereby authorized
and directed to execute said lease described and referred to
in Section 1 hereof on behalf of the City, leasing the facility
to The Wyatt Manufacturing Co., Inc. in accordance with the
terms, conditions and provisions of said lease.
SECTION 5. All of the provisions of the Bond Ordinance,
to the extent applicable to the lease of the facility to the
Company pursuant to the terms of. this Ordinance, are by reference
made a part hereof. The lease described and referred to in
Section 1 hereof between the City and the Company, a copy of
which is deposited and available for inspection in the office
of the City Clerk of the City, is by reference made a part hereof.
SECTION 6. This Ordinance shall take effect and be in
force from and after its passage and publication in the official
City paper.
PASSED by the governing body of the City of Salina, Kansas,
this ' day of _� .�- 1969.
Attest:
i
City Clerk
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Approved by the Mayor this
Attest:
City Clerk
I
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Mayor
day of 1969.