RESOLUTION NUMBER 14-7089
A RESOLUTION PROVIDING FOR THE ISSUANCE OF TEMPORARY NOTES AND/OR GENERAL OBLIGATION BONDS OF THE CITY OF SALINA, KANSAS TO FINANCE IMPROVEMENTS TO THE CITY’S SOLID WASTE FACILITY.
WHEREAS, the City of Salina, Kansas (the “City”), collects and dispenses of solid waste as a municipal function under the laws of the State of Kansas, including K.S.A. 12-2101 et seq. (the “Act”); and
WHEREAS, the Governing Body of the City hereby finds and determines that it is necessary to make improvements to the City’s solid waste facility, including construction of a leachate pond, gravity leachate collection system and manholes, leachate pumping system and municipal solid waste landfill cell, including access roadways, excavation, installation of low permeability soil liners, installing aggregate, and leachate collection/conveyance piping, pumping system, and appurtenances (the “Project”) and that the City has insufficient funds to pay for the entire cost of the Project at the present time; and
WHEREAS, the City hereby finds and determines that it is necessary for the City to issue its temporary notes and/or general obligation bonds (the “Obligations”) to pay the cost of the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS:
Section 1. It is hereby deemed and declared to be necessary for the City to make improvements to the City’s solid waste facility as described above.
Section 2. It is necessary for the City to issue its Obligations to the pay the cost of the Project in the amount of $2,300,000 plus the costs of issuance and interest on any temporary financing under the authority of the Act and K.S.A. 10-101 et seq.
Section 3. Before issuing the Obligations, this resolution shall be published once each week for two consecutive weeks in the official City newspaper. The Obligations may be issued unless a petition in opposition thereto, filed by not less than 5% of the electors of the City, is filed with the County Election Officer of Saline County within 30 days following the second publication of the resolution. If such petition is filed, the governing body of the City shall submit the question of the issuance of the Obligations for the Project to the electors of the City at an election called for such purpose as provided in the Act. If no sufficient petition is filed with the County Election Officer of Saline County within the period of time hereinbefore stated, then the governing body of the City shall proceed with the issuance of the Obligations for the Project.
Section 4. The City has incurred preliminary expenditures and expects to make expenditures on and after the date of adoption of this resolution in connection with the Project, and intends to reimburse itself for such expenditures with the proceeds of the Obligations of the City which are expected to be issued in the maximum principal amount of $2,300,000 plus the costs of issuance and interest on any temporary financing.
Section 5. This resolution shall be in full force and effect from and after its adoption.
ADOPTED by the Governing Body on April 14, 2014.
Barbara V. Shirley, Mayor
Shandi Wicks, CMC, City Clerk