93-9547 Ad Valorem ExempKuM1nCox Printing —Salina, Kansas
(Published in The Salina Journal January oZO , 1993)
ORDINANCE NUMBER 93-9547
AN ORDINANCE RECOGNIZING THE AD VALOREM TAX EXEMPTION
OF CERTAIN PROPERTY OWNED BY WYATT FOUNDRY, INC. LOCATED AT 601
IDLEWILDE PLACE, SALINA, KANSAS, PROVIDING FOR CERTAIN IN LIEU OF
TAX PAYMENTS, AMENDING RESOLUTION NUMBER 91-4299, REVOKING
RESOLUTION NUMBER 91-4300 AND ORDINANCE NUMBER 92-9494 AND
AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT AMENDING SECTION
7.1 "PAYMENT IN LIEU OF TAXES" OF THE LEASE BY AND BETWEEN THE
CITY OF SALINA, KANSAS, AND WYATT FOUNDRY, INC. DATED
JUNE 1, 1991..
WHEREAS, the Board of Commissioners, by Ordinance Number
91-9450, authorized the City of Salina, Kansas (the "City") to issue its
Industrial Revenue Bonds, Series 1991 (Wyatt Foundry, Inc. - Great Plains
Mfg., Inc. Project) in the aggregate principal amount of $2,500,000 for the
purposes of purchasing, acquiring, constructing, equipping and installing a
manufacturing project (the "Project") in accordance with K.S.A. 12-1740 to
12-1749c, inclusive, as amended (the "Bonds"); and
WHEREAS, pursuant to K.S.A. 79-201a, as amended, all property
constructed or purchased with the proceeds of the Bonds is exempt from all
property or ad valorem taxes levied under the laws of the State of Kansas for a
period of ten calendar years after the calendar year in which the Bonds were
issued, and the Bonds were issued on June 1, 1991; and
WHEREAS, both the City and Wyatt Foundry, Inc. intended at all
times that all property purchased or constructed with proceeds of the Bonds be
exempt from property and ad valorem taxes in accordance with K.S.A. 79-201a,
as amended, but through error and inadvertence Resolution Number 91-4299 as
adopted by the Governing Body of the City, contains recitals, findings and
other provisions which were and are contrary to the true intentions of both the
City and Wyatt Foundry, Inc. and the same should be amended and corrected
to reflect the true intentions of the City and Wyatt Foundry, Inc.; and
WHEREAS, through error and inadvertence Resolution Number 91-4300
and Ordinance Number 92-9494 were adopted by the Governing Body of the City
and the same should be revoked as of adoption as though the same had never
been adopted by the Governing Body of the City; and
WHEREAS, through error and inadvertence the City and Wyatt
Foundry, Inc. entered into a certain Addendum to Lease dated
February 28, 1992, as authorized by Ordinance Number 92-9494, and the Mayor
should be authorized to execute an agreement revoking such amendment to the
Lease by and between the City and Wyatt Foundry, Inc. dated June 1, 1991, so
that Section 7.6 of said Lease shall read as it did prior to such amendment; SO
NOW, THEREFORE
Kansas:
BE IT ORDAINED by the Governing Body of the City of Salina,
Section 1. The Board of Commissioners of the City hereby finds
and determines that, pursuant to K.S.A. 79-201(a), as amended, all property
constructed or purchased with the proceeds of the Bonds is exempt from all
property or ad valorem taxes levied under the laws of the State of Kansas for a
period of ten (10) calendar years, beginning with the calendar year 1992 and
continuing through the calendar year 2001.
Kuhn-Gox P�inling — Sabina. Kansas
Section 2. The Board of Commissioners of the City hereby finds
that through
error and
inadvertence it's Resolution Number
91-4299 contains
references to
the waiver by Wyatt Foundry,
Inc. of the ad
valorem property
tax exemption
available
to the Project under
K.S.A. 79-201a,
as amended; and
said Resolution Number
91-4299 is hereby amended and corrected
to delete all
references to
any waiver
by Wyatt Foundry,
Inc. of the ad
valorem property
tax exemption
applicable
to the Project under
K.S.A. 79-201a,
as amended.
Section 3. The Board of Commissioners of the City hereby finds
that through error and inadvertence it adopted Resolution Number 91-4300,
granting the
project certain
exemptions from ad valorem taxation
for
economic
development
purposes; and
said Resolution Number 91-4300 should
be
and the
same is hereby revoked as of its adoption, as though the same had never been
adopted by the Board of Commissioners of the City.
Section 4. The Board of Commissioners of the City hereby finds
that through error and inadvertence it adopted Ordinance Number 92-9494,
ratifying its Resolution Number 91-4300 and authorizing the Mayor to execute an
agreement amending Section 7.6 "Payment in Lieu of Taxes" of the Lease by
and between the City of Salina, Kansas, and Wyatt Foundry, Inc. dated
June 1, 1991;.and said Ordinance Number 92-9494 should be and the same is
hereby revoked as of its adoption, as though the same had never been adopted
by the Board of Commissioners of the City.
Section 5. On February 28, 1992, the Mayor entered into a certain
Addendum to Lease, as authorized under Ordinance Number 92-9494; and the
Mayor should be and he is hereby authorized to execute an agreement revoking
the said Addendum to Lease as of its inception, so that Section 7.6 "Payment in
Lieu of Taxes" of the Lease by and between the City of Salina, Kansas and
Wyatt Foundry, Inc. dated June 1, 1991, shall read as it did prior to the
execution of said Addendum to Lease.
Section 6. The Board of Commissioners of the City finds that both
the City and Wyatt Foundry, Inc. intended that certain payments in lieu of
taxes be required with regard to the Project, and that the amount of such
payments in lieu of taxes be
determined
in
a manner consistent
with the City of
Salina Tax Exemption Policy
set forth in
its
Resolution Number
91-4265.
Kuhn -Cox Priming — Salina, Kansas
Section 7. As long as the terms of Resolution Number 91-4265 are
met and maintained, no payment in lieu of taxes shall be required with regard
to buildings and improvements constructed and equipment and machinery
purchased with proceeds of the Bond between May 6, 1991 and
November 6, 1992, for the manufacturing facilities located on the following
described real estate:
The East Half (E/2) of Lot Three (3) , and all of Lots Four
(4), Eight (8), Nine (9), Ten (10) and Eleven (11), all in
White Acres in the City of Salina, Saline County, Kansas;
(the "Project") for the five (5) calendar year period of 1992 to 1996,
inclusive; and the amount of the payment in lieu of taxes for the calendar
years
1997
to 2001, inclusive,
shall be one-half
(1/2) of
the taxes
which would
have
been
levied against the
Project were it not
for the
exemption
afforded by
K.S.A. 79-201a, as amended.
Section 8. The land on which the Project is located and all
buildings, improvements, equipment and machinery located on that land prior to
May 6, 1991, are not exempt from ad valorem property taxes under K.S.A.
79-201a, as amended.
Section 9. All payments in lieu of taxes shall be paid to the
Saline County Treasurer in the same manner and at the same time as ad valorem
property taxes would be payable were it not for the exemption afforded by
K.S.A. 79-201a, as amended. The Saline County Treasurer shall distribute
said payments to affected taxing jurisdictions according to the provisions of
K.S.A. 1.2-148.
Section 10. Wyatt Foundry, Inc. shall be responsible for filing
the appropriate tax exemption claim forms as required by the statutes of the
State of Kansas.
Section 11. As required by the Tax Exemption Policy of the City,
Wyatt Foundry, Inc. shall submit an annual report by January 15 of each year
for so long as payments in lieu of taxes are due from Wyatt Foundry, Inc.
Section 12. The Board of Commissioners of the City shall have the
right to adjust the amount of the payments in lieu of taxes for each calendar
year after 1993 in the event of the failure of Wyatt Foundry, Inc. to comply
with the terms and conditions of this Ordinance or the provisions of the Tax
Exemption Policy of the City.
Kinn -Cox Piin�ing — Sali a, Kansas
Section 13. No payment in lieu of taxes shall be required for any
year in which the Project is subject to full ad valorem taxation.
Section 14. This Ordinance shall take effect and be in full force
from and after its adoption and publication once in the official city newspaper.
(SEAL)
ATTEST:
Jacqueline Shiever, CMC
City Clerk
Introduced: January 4, 1993
Passed: January 11, 1993
a'4�-to
Carol E. Beggs, Mayor