93-4552 Agr Recognition ProgRESOLUTION NUMBER 93-4552
A RESOLUTION AUTHORIZING PARTICIPATION IN THE NATIONAL
FEDERATION OF MUNICIPAL ANALYSTS CERTIFICATE OF RECOGNITION
PROGRAM.
WHEREAS, the City of Salina (the "Issuer") has outstanding
securities in the state and local government securities market or is planning
an issue in the near future; and
WHEREAS, the Issuer appreciates the support of the investment
community for the financing efforts of the Issuer; and
WHEREAS, the maintenance of ratings, if any, for the Issuer's rated
securities depend in part upon the continued availability of information to the
rating agencies; and
WHEREAS, the Issuer has been informed that the liquidity of its
securities in the secondary market may be affected by the availability of
information and maintenance of ratings; and
WHEREAS, the Issuer desires to maintain excellent relations with its
investors and to improve the liquidity of the Issuer's securities in the
secondary market; and
WHEREAS, the Issuer desires to receive a Certificate of Recognition
from the National Federation of Municipal Analysts, and the adoption of this
Resolution is a condition to the award of such a Certificate, although the
Issuer also recognizes that a Certificate of Recognition does not imply in any
manner a positive or negative judgment as to the accuracy or sufficiency of the
disclosure documents of the Issuer and that the Issuer is solely responsible
for the accuracy and sufficiency of its disclosure documents; SO NOW,
THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina,
Kansas that the Issuer hereby makes the following commitments to its investors:
Section 1. That the Issuer (or the Issuer's agent) will provide
annual
audited
financial
statements
and other
pertinent credit
information
relevant
to the
Issuer's
outstanding
securities
(which may be
contained in
official statements), including the Issuer's Comprehensive Annual Financial
Report, if one is prepared, upon request, and will provide copies to one or
more major information providers in the state and local government securities
market.
Section 2. That if an issue is rated, appropriate periodic credit
information necessary for maintaining the rating on the securities will be
provided by the Issuer to the rating agency rating the securities.
Section 3. That a statement will be made by the Issuer in the
Introduction to its official statements evidencing the commitments made herein.
Section 4. That this Resolution shall be in full force and effect
from and after its date of adoption.
g','�Or r- 47,o��
Carol E. Beggs, Mayor
(SEAL)
ATTEST: r t
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Jacqufrline Shiever, CMC
City Clerk