05-10278 SAA GO Bonds1
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(Published in the Salina Journal on June 9 , 2005)
ORDINANCE NUMBER 05-10278
AN ORDINANCE UNCONDITIONALLY APPROVING THE ISSUANCE OF
ADDITIONAL GENERAL OBLIGATION BONDS BY THE SALINA AIRPORT
AUTHORITY IN THE AMOUNT OF $80,000 FOR THE PURPOSE OF FINANCING THE
COST OF CERTAIN CAPITAL IMPROVEMENTS LOCATED AT THE SALINA
AIRPORT INDUSTRIAL CENTER.
WHEREAS, on April 21, 2004, the Board of Directors of the Salina Airport Authority (the
"Authority") adopted Resolution 04-2 of the Authority approving the issuance of not to exceed
$3,555,000 of general obligation bonds of the Authority to pay the cost of certain capital
improvements located at the Salina Airport and Airport Industrial Center, including, but not limited
to, acquisition, construction, improvement, furnishing and equipping of buildings (the "Project"), as
authorized by K.S.A. 27-315 to 27-326, inclusive; and
WHEREAS, on May 3, 2004 the governing body of the City of Salina, Kansas (the "City")
adopted Ordinance No. 04-10200 approving the issuance of not to exceed $3,555,000 of general
obligation bonds of the Authority; and
WHEREAS, the Authority has incurred additional costs of $80,000 in connection with the
Proj ect;
WHEREAS, on May 18, 2005, the Authority adopted Resolution 05-3 to approve the
issuance of an additional $80,000 of general obligation bonds of the Authority to pay additional
costs associated with the Project;
WHEREAS, K.S.A., 27-323 provides that the Authority shall forward a copy of such
resolution to the Mayor of the City, who shall present such resolution of the governing body of the
City for its approval or disapproval.
SO NOW THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
OF SALINA, KANSAS AS FOLLOWS:
Section 1. That the resolution of the Salina Airport Authority adopted May 18, 2005,
providing for the issuance of an additional $80,000 in general obligation bonds of the Authority,
over and above the $3,555,000 general obligation bonds authorized by Resolution 04-2 of the
Authority and Ordinance 04-10200 of the City, for a total authority of $3,635,000 principal amount
of general obligation bonds, for the purpose of financing the cost of the Project is hereby
unconditionally approved.
Section 2. That this ordinance shall be in full force and effect from and after its adoption
and publication once in the official city newspaper.
[SEAL]
ATTEST:
Lieu Arm Elsey, CMC, City Clerk
Introduced: May 23, 2005
Passed: June 6, 2005
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Debbie Divine, Mayor