8/4/2015 - Ordinance No. 15-10788 Salina Airport Autority General Obligation Bonds
ORDINANCE NO. 15-10788
AN ORDINANCE UNCONDITIONALLY APPROVING THE ISSUANCE OF TAXABLE GENERAL OBLIGATION BONDS BY THE SALINA AIRPORT AUTHORITY FOR THE PURPOSE OF FINANCING THE COST OF CERTAIN CAPITAL IMPROVEMENTS LOCATED AT THE SALINA AIRPORT AND INDUSTRIAL CENTER AND REFUNDING CERTAIN OUTSTANDING GENERAL OBLIGATION BONDS OF THE AUTHORITY.
WHEREAS, on July 15, 2015, the Board of Directors of the Salina Airport Authority (the “Authority”) adopted a resolution approving the issuance of (1) not to exceed $675,000 principal amount, excluding costs of issuance and temporary financing costs, of the Authority’s general obligation bonds to pay the cost of certain capital improvement projects located at the Salina Airport and Industrial Center, including, but not limited to (a) rehabilitation of Hangar 959, including electrical modifications, sprinkler system reactivation, fire alarm system and sensor installation, upgrades to the HVAC systems, electrical system modifications, fencing and burying of exterior overhead electrical lines to accommodate large passenger jets; (b) renovation and equipment acquisition and installation at the M.J. Kennedy Air Terminal Building in order to accommodate expanded commercial air service including a passenger screening and holding area and offices for Transportation Security Administration Employees; and (c) other various capital improvements at the Salina Regional Airport (collectively, the “Project”), as authorized by K.S.A. 27-315 to 27-326 inclusive and (2) general obligation refunding bonds in a principal amount sufficient to refund all or a portion of the following outstanding general obligation bonds of the Authority (collectively, the “Refunded Bonds”), pursuant to K.S.A. 10-427 et seq.:
Description Series Dated Date Years Amount
Taxable General Obligation Bonds Series 2005-A August 1, 2005 2016 to 2020 $1,805,000
Taxable General Obligation Bonds Series 2007-A December 15, 2007 2016 to 2022 565,000
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.
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 on July 15, 2015, providing for the issuance of (1) the Authority’s general obligation bonds in a principal amount not to exceed $675,000, excluding costs of issuance and temporary financing costs, to pay the costs of the Project, as authorized by K.S.A. 27-315 to 27-326 inclusive and (2) the Authority’s general obligation refunding bonds in a principal amount sufficient to refund all or a portion of the Refunded Bonds, pursuant to K.S.A. 10-427 et seq., 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.
Introduced: July 27, 2015
Passed: August 3, 2015
[Seal] Jon R. Blanchard, Mayor
Shandi Wicks, City Clerk