94-4710 Auth Note IssueWHEREAS, pursuant to K.S.A. 12-6a01 through 12-6al7, inclusive, and all other provisions
of the laws of the State of Kansas applicable thereto, by proceedings duly had and other actions duly and
llegally taken, the City of Salina, Kansas (the "City"), is proceeding with the construction of street and
utility improvements in the City (the "Project"), and
WHEREAS, the cost of the Project is to be paid in whole or in part by the issuance of general
obligation bonds of the City in the manner provided by law, and
WHEREAS, pursuant to engineering plans and estimates, construction contracts and actions duly
tpken in connection with the Project, it has been determined that the cost of the Project will be
approximately $1,035,000, and
WHEREAS, it is necessary for the City to provide cash funds to the obligations incurred in
acquiring and constructing the Project prior to the completion of the Project and the issuance of the bonds
of the City, and it is desirable and to the interest of the City that such funds be raised by the issuance of
temporary notes of the City, said temporary notes to be issued by the City under and pursuant to the
provisions of K.S.A. 10-123.
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY
OF SALINA, KANSAS, AS FOLLOWS:
Section 1. For the purpose of providing funds to pay the cost of the Project, there shall be issued
$1d hereby is authorized to be issued municipal temporary notes of the City in the principal amount of
,035,000 (the "Notes"). The Notes shall be issued as one Note, numbered R-1 being the aggregate
principal amount of $1,035,000, shall be designated Municipal Temporary Notes (Subdivision Projects),
Series 1994-A, and shall be in the form hereinafter set forth. The Notes shall be dated April 1, 1994,
spall become due December 31, 1995, shall bear interest from April 1, 1994, at the rate of 4.50% per
aicmum payable at maturity and shall be redeemable at the option of the City prior to maturity at any time
at the principal amount thereof plus accrued interest to the date of payment, without premium, on not less
than thirty days' written notice given by first class mail sent to the original purchaser of the Notes.
Section 2. Upon the execution and registration of the Notes, they shall be delivered and held in
the General Fund of the City upon payment of the purchase price therefor.
erection 3. i ne t.aty t-terK snail Keep the note registration 000Ks or the city on wmcn it snail
record the initial and all subsequent registered owners of the Notes and all transfers thereof. The Notes
rttay be transferred on such registration books as specified in the form of Note set forth in Section 4.
Section 4. The Notes shall be issued in certificated form in substantially the form set forth in
,this Section subject to such changes and variations as may be required to comply with the Kansas Bond
Registration Law, K.S.A. 10-620 to 10-632, inclusive, and the rules and regulations appertaining thereto
published in the Kansas Register by the Attorney General of the State of Kansas. The certificated Notes
may have endorsed thereon such legends or test as may be necessary or appropriate to conform to any
!applicable rules and regulations of any governmental authority or any custom, usage or requirement of
law with respect thereto.
(NUMBER $
UNITED STATES OF AMERICA
STATE OF KANSAS, CITY OF SALINA
MUNICIPAL TEMPORARY NOTE
(SUBDIVISION PROJECTS), SERIES 1994-A
Interest Rate Maturity Date Note Date
4.50%
REGISTERED HOLDER:
PRINCIPAL AMOUNT:
December 31, 1995
April 1, 1994
THE CITY OF SALINA, KANSAS (the "City"), for value received, hereby promises to pay to
the Registered Holder identified above or registered assigns, on the Maturity Date identified above, unless
Galled for redemption prior to maturity, the Principal Amount identified above and to pay interest thereon
on the Maturity Date at the Interest Rate specified above from the Note Date identified above. Both
principal and interest are payable to the bearer hereof upon presentation and surrender hereof at the office
of the City Treasurer in the City of Salina, Kansas.
THE CITY hereby reserves the right to redeem and pay this Note prior to its maturity at any time
alt the principal amount thereof plus accrued interest to date of payment, without premium, provided the
City shall give not less than thirty days' written notice of its intent to pay this Note, such notice to be
Siven by first class mail sent to the original purchaser of this Note.
THIS TEMPORARY NOTE is one of a series of temporary notes of the City issued for the
purpose of providing funds to pay the cost of street and utility improvements within the City (the
'"Project"), the Project having been duly and regularly authorized by the governing body of the City. The
Project is to be paid for in whole or in part by the issuance of bonds of the City and is being made under,
and this Note is being issued under, the authority of and in full compliance with the provisions,
restrictions and limitations of the constitution and statutes of the State of Kansas, K.S.A. 12-6a01 et seq.
and 10-123, and all other provisions of the laws of said State applicable thereto. This Note and all
interest thereon are to be paid by the City.
2
s
F y`
THIS NOTE is transferable only in the Note Register at the office of the City Clerk of the City
:reinafter referenced as the Note Registrar when acting in that capacity) upon surrender of this Note
the Note Registrar duly endorsed for transfer or accompanied by a written instrument of transfer
isfactory to the Note Registrar duly executed by the registered owner hereof or his attorney or legal
,resentative and thereupon a new Note in the same aggregate principal amount shall be issued to the
nsferee in exchange therefor.
THIS NOTE shall not be valid or become obligatory for any purpose or be entitled to any
ity or benefit under the Resolution of the City authorizing the issuance of this Note until the
Fcate of Registration hereon shall have been dated and executed by the City Clerk.
IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions and things required to
done and to exist precedent to and in the issuing of this Note have been properly done and performed
I do exist in regular and due form as required by the constitution and laws of the State of Kansas, and
I the total indebtedness of the City, including this Note, does not exceed any constitutional or statutory
iitation.
IN WITNESS WHEREOF, the City of Salina, Kansas, has caused this Note to be signed by its
officers and its corporate seal to be affixed, and the same to be dated as of April 1, 1994.
i
�TTEST:
Clerk
Mayor
COUNTERSIGNATURE CERTIFICATE
This Temporary Note shall not be negotiable unless and until countersigned below following
registration by the Treasurer of the State of Kansas.
Countersignature Date:
[�EAL] City Clerk
3
SII
I
CITY CLERK'S CERTIFICATE
STATE OF KANSAS )
SS.
COUNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina, Kansas, hereby certify that the within
Temporary Note of the City of Salina, Kansas, has been duly registered in my office according to law.
WITNESS my hand and official seal this April 1, 1994.
City Clerk
(SEAL]
STATE TREASURER'S CERTIFICATE
I, Sally Thompson, Treasurer of the State of Kansas, hereby certify that a full and complete
transcript of the proceedings leading up to the issuance of this Temporary Note has been filed in my
office, and that this Temporary Note was registered in my office according to law this
WITNESS my hand and official seal.
Treasurer of the State of Kansas
By
[SEAL] Assistant State Treasurer
4
,i
ASSIGNMENT
FOR VALUE RECEIVED the undersigned does (do) hereby sell, assign and transfer to
(Name and Address)
(Social Security or Taxpayer Identifying Number)
the note to which this assignment is affixed in the outstanding principal amount of $ , standing
in the name of the undersigned on the books of the City Clerk of Salina, Kansas. The undersigned does
(do) hereby revocably constitute and appoint attorney to transfer the said bond to the
substitution in the premises.
Dated:
Section 5. The Notes shall be executed by the Mayor and City Clerk and the Seal of the City
shall be affixed thereto, and after such execution and the registration of the Notes by the City Clerk and
by the State Treasurer, shall be countersigned by the City Clerk and shall be delivered to and held in the
General Fund of the City, the purchaser thereof, upon receipt of the purchase price therefor, said price
tol be equal to the principal amount of the Notes plus accrued interest, if any, thereon. In the event any
officer whose signature appears on the Notes shall cease to be such officer before the delivery of such
Notes, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such
person had remained in office until delivery. The proceeds of the Notes will be used on the date of
delivery of the Notes to pay the cost of the Project.
Section 6. The City expects to make capital expenditures on and after the date of adoption of
this Resolution in connection with the Project, and the Issuer intends to reimburse itself for such
expenditures with the proceeds of the Notes. In turn, the City expects to pay the Notes with the proceeds
of a long-term general obligation bond issue. The maximum principal amount of obligations expected
to be issued for the Project is not expected to exceed $1,516,000.
5
Adopted by the Board of Commissioners and signed hv the Mayor this 21st
U ~ -^ �-^ �
Sday Of March, 1994. |
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(SEAL)
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