ORDINANCE NO. 20-11032
AN ORDINANCE TERMINATING THE LAMBERTZ ADDITION/KOHL’S TIF PROJECT REDEVELOPMENT DISTRICT CREATED PURSUANT TO ORDINANCE NO. 07-10428 AND TERMINATING TAX INCREMENT FINANCING WITH RESPECT TO SUCH REDEVELOPMENT DISTRICT.
WHEREAS, the City of Salina, Kansas (the “City”) adopted tax increment financing by creating a Redevelopment District pursuant to the Kansas Tax Increment Redevelopment Act, constituting sections K.S.A. 12-1770 et seq., as amended (the “Act”) and Ordinance No. 07-10428 of the City, adopted on December 12, 2007, for the real property legally described therein; and
WHEREAS, all the redevelopment project costs have been paid and sufficient funds are on deposit with the bond trustee to pay the remaining principal of and interest on all bonds issued with respect to the Lamberts Addition/Kohl’s TIF Project (the “Project”) within the Redevelopment District; and
WHEREAS, the City has determined that it is necessary and desirable to adopt this Ordinance to terminate the Redevelopment District and to terminate tax increment financing in connection with the Project, effective upon publication of this Ordinance;
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS, AS FOLLOWS:
Section 1. Termination of Tax Increment Financing. The City hereby terminates the Redevelopment District created pursuant to Ordinance No. 07-10428, and legally described as follows:
Lot 1, Block 1 and Lot 1, Block 2 of the Replat of Lambertz Addition (formerly platted and known as Lot 1, Block 1 of the Lambertz Addition) to the City of Salina, Saline County, Kansas.
Tax increment financing for all Projects within the Redevelopment District shall terminate, effective upon publication of this Ordinance.
Section 2. Further Authority. The City shall, and the officers, employees and agents of the City are hereby authorized and directed to, take such action, expend such funds and execute such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Ordinance.
Section 3. This ordinance shall be in full force and effect from and after its adoption and publication once in the official city newspaper by the following summary:
Ordinance No. 20-11032 Summary
On June 8, 2020 the City Commission passed Ordinance No. 20-11032. The Ordinance terminates the Redevelopment District created pursuant to Ordinance No. 07-10428, and legally described as follows: Lot 1, Block 1 and Lot 1, Block 2 of the Replat of Lambertz Addition (formerly platted and known as Lot 1, Block 1 of the Lambertz Addition) to the City of Salina, Saline County, Kansas. The tax increment financing for the Lambertz Addition/Kohl’s TIF Project within the Redevelopment District shall terminate, effective upon publication of this summary. A complete copy of the Ordinance can be found at www.salina-ks.gov or in the office of the City Clerk, 300 W. Ash, free of charge. This summary is certified by the City’s legal counsel.
Introduced: June 1, 2020
Passed: June 8, 2020
ATTEST: Michael L. Hoppock, Mayor
Cheryl Mermis, Deputy City Clerk
The publication summary set forth above is certified this __ day of June, 2020.
Greg A. Bengtson, City Attorney