94-4687 Issue Notes Bonds(Published in the Salina Journal January 17, 1994)
RESOLUTION NUMBER 94-4687
A RESOLUTION PROVIDING FOR THE ISSUANCE OF APPROXIMATELY
$1,500,000 OF TEMPORARY NOTES AND GENERAL OBLIGATION BONDS OF THE
CITY OF SALINA, KANSAS TO FINANCE CONSTRUCTION OF IMPROVEMENTS
TO AND THE ACQUISITION OF NECESSARY EQUIPMENT FOR THE CITY'S
SOLID WASTE FACILITY.
WHEREAS, the City of Salina, Kansas (the "City"), collects and
disposes of solid waste as a municipal function under the laws of the State of
Kansas, including K.S.A. 12-2101 et seq. (the "Act"); and
WHEREAS,
the governing body
of the City hereby finds
and
determines that it
is necessary to construct improvements to and
the
acquisition of necessary equipment for the
City's solid waste facility
(the
"Project") and that
the City has insufficient
funds to pay for the entire
cost
of the Project at the
present time; and
10-123.
WHEREAS, the governing body of the City hereby finds and
determines that it is necessary for the City to issue its temporary notes and
general obligation bonds (the "Obligations") to pay the costs of the Project
under the authority of the Act and K.S.A. 10-123; SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of The City of Salina,
Kansas:
Section 1. That it is hereby deemed and declared to be necessary
for the City to construct improvements to and acquire necessary equipment for
the City's solid waste facility.
Section 2. That
it
is
necessary
for
the City to issue its
Obligations to pay the costs
of
the
Project in
the
amount of approximately
$1,500,000 under the authority
of
the
Act and K.S.A.
10-123.
Section 3. That before issuing the Obligations, this resolution
shall be published once each week for two consecutive weeks in the official
City newspaper. The Obligations may be issued unless a petition in opposition
thereto, filed by not less than 5% of the electors of the City, is filed with
the County Election Officer of Saline County within 30 days following the
second publication of the resolution. If such petition is filed, the governing
body of the City shall submit the question of the issuance of the Obligations
for the Project to the electors of the City at an election called for such
purpose as provided in the Act. If no sufficient petition is filed with the
County Election Officer of Saline County within the period of time hereinbefore
stated, then the governing body of the City shall proceed to authorize the
issuance of the Obligations for the Project.
Section 4. That the City expects to make expenditures on and
after the date of adoption of this resolution in connection with the Project,
and intends to reimburse itself for such Expenditures with the proceeds of the
Obligations of the City which are expected to be issued in the principal amount
of approximately $1,500,000.
Section 5. That this resolution shall be in full force and effect
from and after its adoption.
Adopted by the Board of Commissioners and signed by the Mayor
this 10th day of January, 1994.
Peter F. Brungardt, Mayor
(SEAL)
ATTEST:
4,Lt -
Stephanie Krug
Acting City Clerk