90-9384 Water SewersKuhn -Cox Printing — Salina, Kansas
(Published in The Salina Journal May le , 1990)
ORDINANCE NUMBER 90-9384
AN ORDINANCE REPEALING SECTION 41-91 OF THE SALINA CODE
WHICH PROHIBITS WATER AND SEWER RATE DECREASES WHEN REVENUE
BONDS ARE OUTSTANDING.
WHEREAS, sufficient protection for bondholders is provided by
revenue bond covenants requiring certain levels of debt service coverage, and
WHEREAS, the decreasing of rates does not necessarily result in
non-compliance with revenue bond covenants, SO NOW, THEREFORE
BE IT ORDAINED by the Governing Body of the City of Salina,
Kansas:
Section 1. That Section 41-91 of the Salina Code is hereby repealed.
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:-
Jacque ine Shiever, City Clerk
Introduced: May 7, 1990
Pass May 14 1990
Robert E. Frank, ayor