ORDINANCE NO. 20-11029
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE
ISSUANCE OF GENERAL OBLIGATION INTERNAL
IMPROVEMENT BONDS, SERIES 2020-A,
OF THE CITY OF SALINA, KANSAS; PROVIDING
FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE
PRINCIPAL OF AND INTEREST ON SAID BONDS AS THEY BECOME DUE; AUTHORIZING CERTAIN
OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH; AND MAKING CERTAIN
COVENANTS WITH RESPECT THERETO.
WHEREAS, the City of Salina, Kansas (the “City”) is a city
of the first class, duly created, organized and existing under the Constitution
and laws of the State; and
pursuant to K.S.A. 12-1736 et seq.,
K.S.A. 12-2101 et seq., Charter
Ordinance No. 39 of the City and Article 12, Section 5 of the Constitution of
the State of Kansas, and
other provisions of the laws of the State of Kansas applicable thereto, by
proceedings duly had, the City Commission of the City (the “Governing Body”) has
authorized the following improvements (the “Improvements”) to be made in the
Ordinance/ Resolution No.
Allocable Principal Amount of Bonds
12-2101 et seq.
Hill River Renewal
12, §5 of the Constitution of the State of Kansas
12-1736 et seq.
Ordinance No. 39
9th Street Bridge
02-10071; Res No. 19-7677
12-685 et seq.
WHEREAS, the Governing
Body is authorized by law to issue general obligation bonds of the City to pay a
portion of the costs of the Improvements; and
WHEREAS, the Governing
Body has advertised the sale of the Bonds in accordance with the law and at a
meeting held in the City on this date, awarded the sale of such Bonds to the
NOW, THEREFORE, BE
IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF
SALINA, KANSAS, AS FOLLOWS:
Section 1. Definitions
of Words and Terms. In addition to
words and terms defined elsewhere herein, the following words and terms in this
Ordinance shall have the meanings hereinafter set forth. Unless the context shall otherwise indicate, words importing the singular number shall include
the plural and vice versa, and words importing persons shall include firms,
associations and corporations, including public bodies, as well as natural
the Constitution and statutes of the State including K.S.A. 10-101 to 10-125, inclusive,
K.S.A. 10-620 et seq., K.S.A.
12-685 et seq., K.S.A. 12-1736 et seq., K.S.A. 12-2101 et seq., Charter Ordinance No. 39 and
Article 12, Section 5 of the Constitution of the State of Kansas, all as amended and supplemented from time to
“Bond and Interest
Fund” means the Bond and Interest Fund of the City for its general
means the resolution to be adopted by the Governing Body prescribing the terms and
details of the Bonds and making covenants with respect thereto.
the City’s General Obligation Internal
Improvement Bonds, Series 2020-A,
dated April 29, 2020, authorized by this
“City” means the City
of Salina, Kansas.
“Clerk” means the duly appointed and acting Clerk of
the City or, in the Clerk’s absence, the duly appointed Deputy or Acting Clerk.
“Finance Director” means the duly appointed and/or elected Finance
Director or, in the Finance Director’s absence, the duly appointed Deputy
Finance Director or Acting Finance Director of the Issuer.
“Improvements” means the improvements referred to in the
preamble to this Ordinance and any Substitute Improvements.
the duly elected and acting Mayor of the City or, in the Mayor’s absence, the
duly appointed and/or elected Vice Mayor or Acting Mayor of the City.
means this Ordinance authorizing the issuance of the Bonds.
“Refunded Notes” means a portion of the Series 2019-1 Notes
maturing on May 1, 2020.
“Series 2019-1 Notes” means the City’s General Obligation Temporary
Notes, Series 2019-1, dated April 24, 2019, in the aggregate principal amount
“State” means the State of Kansas.
Improvements” means the substitute or additional improvements of the City
authorized in the manner set forth in the Bond Resolution.
Section 2. Authorization of the Bonds.
There shall be issued and hereby are authorized and directed to be
issued the General Obligation Internal
Improvement Bonds, Series 2020-A,
of the City in the principal amount of $5,210,000 for the purpose of providing
funds to: (a) pay a portion of the costs of the Improvements; (b) pay the costs
of issuance of the Bonds; and (c) retire a portion of the Refunded Notes.
Section 3. Security
for the Bonds. The Bonds
shall be general obligations of the City payable as to both principal and
interest from ad valorem taxes which may be levied without limitation as to
rate or amount upon all the taxable tangible property, real and personal,
within the territorial limits of the City.
The full faith, credit and resources of the City are hereby irrevocably
pledged for the prompt payment of the principal of and interest on the Bonds as
the same become due.
Section 4. Terms,
Details and Conditions of the Bonds.
The Bonds shall be dated and bear interest, shall mature and be payable
at such times, shall be in such forms, shall be subject to redemption and
payment prior to the maturity thereof, and shall be issued and delivered in the
manner prescribed and subject to the provisions, covenants and agreements set
forth in the Bond Resolution hereafter adopted by the Governing Body.
5. Levy and Collection of Annual Tax. The Governing Body shall annually make
provision for the payment of principal of, premium, if any, and interest on the
Bonds as the same become due by levying and collecting the necessary taxes upon
all of the taxable tangible property within the City in the manner provided by
The taxes above referred to shall be extended upon the
tax rolls in each of the several years, respectively, and shall be levied and
collected at the same time and in the same manner as the general ad valorem
taxes of the City are levied and collected, shall be used solely for the
payment of the principal of and interest on the Bonds as and when the same
become due and the fees and expenses of the paying agent for the Bonds. The proceeds derived from said taxes shall be
deposited in the Bond and Interest Fund.
If at any time said taxes are not collected in time to
pay the principal of or interest on the Bonds when due, the Treasurer is hereby
authorized and directed to pay said principal or interest out of the general
funds of the City and to reimburse said general funds for money so expended
when said taxes are collected.
6. Further Authority. The Mayor, Finance Director, Clerk
and other City officials are hereby further authorized and directed to execute
any and all documents and take such actions as they may deem necessary or
advisable in order to carry out and perform the purposes of the Ordinance, and
to make alterations, changes or additions in the foregoing agreements,
statements, instruments and other documents herein approved, authorized and
confirmed which they may approve, and the execution or taking of such action
shall be conclusive evidence of such necessity or advisability.
7. Governing Law. This Ordinance and the Bonds
shall be governed exclusively by and construed in accordance with the
applicable laws of the State.
8. Effective Date.
This Ordinance shall take effect and be in full force from and after its
passage by the Governing Body, approval by the Mayor and publication of the
Ordinance (or a summary thereof) in the official City newspaper.
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