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Home My Public Portal AboutOrd 323 GO Bond B 1999 Gilmore & Bell, P.C. 10/12/1999 ORDINANCE NO. 3;Z 3 OF THE CITY OF BEL AIRE, KANSAS PASSED OCTOBER 19, 1999 $2,132,000 GENERAL OBLIGATION BONDS SERIES B, 1999 \KMC\4022 72\BASI CDOCS (PUBLISHED IN THE THE ARK VALLEY NEWSON OCTOBER ,1999 ORDINANCE NO. J;? 3 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $2,132,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS, SERIES B, 1999, OF THE CITY OF BEL AIRE, 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 is a city of the second class, duly created, organized and existing under the Constitution and laws ofthe State; and WHEREAS, pursuant to K.S.A. 12-6aOl et seq., as amended, and other provisions of the laws of the State of Kansas applicable thereto, by proceedings duly had, the governing body of the City has caused the following improvements (the "Improvements") to be made in the City, to-wit: Project No.1 - Resolution No, R-98-04 Park Vista Third Addition (a replat of Park Vista Second Addition) Construction of asphaltic concrete paving to serve Lots 1 through 10, inclusive, Block 1; and Lots 1 through 9, inclusive, Block 2; Lots 1 through 6 inclusive, Block 4; Lots 1 through 18 and Lots 41 through 44 inclusive, Block 5 Project No.2 - Resolution No. R-98-05 Park Vista Third Addition (a replat of Park Vista Second Addition) Construction of a waterworks system including necessary water mains, pipes, valves, hydrants and appurtenances to serve Lots 1 through 10, inclusive, Block 1; Lots 1 through 9 inclusive, Block 2; Lots 1 through 6 inclusive, Block 4; Lots 1 through 18 and Lots 41 through 44 inclusive, Block 5 Project No.3 - Resolution No. R-98-06 Park Vista Third Addition (a replat of Park Vista Second Addition) Construct a lateral sanitary sewer in accordance with plans and specification as provided by the City Engineer to serve Lots 1 through 10, inclusive, Block 1; Lot 1 through 9 and Lots 22 through 24 inclusive, Block 2; Lots 1 through 9 inclusive, Block 4; Lots 1 through 15 and Lots 38 through 44 inclusive, Block 5 \KMC\402272\BASICDOCS Project No.4 - Resolution No. R-98-07 Park Vista Third Addition (a replat of Park Vista Second Addition) Construct a drainage/storm water sewer to serve Lots 1 through 10 inclusive, Block 1; Lots 1 through 24 inclusive, Block 2; Lots 1 through 23 inclusive, Block 3; Lots 1 through 22 inclusive, Block 4; Lots 1 through 44 inclusive, Block 5 Project No, 5 - Resolution No. R-98-08 Willow Creek Addition Construction of asphaltic concrete paving to serve Lots 21 through 63, inclusive Block 2 Project No, 6 - Resolution No. R-98-09 Willow Creek Addition Construction of a waterworks system including necessary water mains, pipes, valves, hydrants and appurtenances to serve Lots 21 through 63 inclusive, Block 2 Project No, 7 - Resolution No. R-98-10 Willow Creek Addition Construct a sanitary sewer lateral to serve Lots 25 through 60 inclusive, Block 2 Project No.8 - Resolution No. R-98-11 Willow Creek Addition Construct a drainage/storm sewer water to serve Lots 1 through 31, inclusive, Block 1; Lots 1 through 73, inclusive, Block 2 Project No.9 - Resolution No, R-97-14 Willow Creek Addition Construction of asphaltic concrete pavement to serve Lots I through 21 inclusive Block I; Lots 1 through 17 inclusive, Block 2 Project No. 10 - Resolution No. R-97-15 Willow Creek Addition Construct a sanitary sewer lateral to serve the Lots 1 through 16 inclusive, Block I; Lots 1 through 12 inclusive, Block 2 Project No. 11 - Resolution No. R-98-17 Quail Ridge Addition Construction of asphaltic concrete paving to serve Lots 1 through 4, inclusive, Block 1; Lots 2 through 19 inclusive, Block 3 Project No. 12 - Resolution Nos. R-98-18 and R-99-09 Quail Ridge Addition Construction of waterworks system to serve Lots 1 through 4, inclusive Block 1; Lots 2 through 18, Block 3, inclusive Project No. 13 - Resolution No. R-97-30 Glenwood Addition Construction of asphaltic concrete paving to serve Lots 1 through 20 inclusive, Block 1 Project No, 14 - Resolution No. R-97-31 Glenwood Addition Construction of sanitary sewer laterals to serve Lots 1 through 20 inclusive, Block 1 Project No. 15 - Resolution No. R-97-32 Glenwood Addition Construction of waterworks system to serve Lots 1 through 20 inclusive, Block 1 WHEREAS, all legal requirements pertaining to the Improvements have been complied with, and the governing body of the City now finds and determines that the total cost of the Improvements and related expenses are at least $2,159,000, with all of said cost to be paid by the owners of the property within the City benefited by the Improvements, and that the owners of the property benefited by the Improvements have paid $26,910.15 in cash into the City Treasury on account of the Improvements and \KMC\402272\BASICDOCS 2 there is $89.85 available in the City Treasury to pay part of said cost, leaving $2,132,000 to be paid for by the issuance of general obligation bonds; and WHEREAS, the governing body of the City is authorized by law to issue general obligation bonds of the City to pay the costs of the Improvements; and WHEREAS, none of such general obligation bonds heretofore authorized have been issued and the City proposes to issue $2,132,000 of its general obligation bonds to pay the costs of the Improvements; and WHEREAS, the governing body of the City has advertised the sale of the Bonds in accordance with the law and at a meeting held in the City on October 19, 1999 awarded the sale of such Bonds to the best bidder. NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF BEL AIRE, 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 shalI otherwise indicate, words importing the singular number shall include the plural and vice versa, and words importing persons shalI include firms, associations and corporations, including public bodies, as welI as natural persons. "Act" means the Constitution and statutes of the State including K.S.A. 10-10 1 to 10-125, inclusive, K.S.A. 10-620 et seq. and K.S.A. 12-6aOl et seq., all as amended and supplemented from time to time. "Bond and Interest Fund" means the Bond and Interest Fund of the City for its general obligation bonds. "Bond Resolution" means the resolution to be adopted by the governing body of the City prescribing the terms and details of the Bonds and making covenants with respect thereto. "Bonds" means the Issuer's General Obligation Bonds, Series B, 1999, in the aggregate principal amount of $2, 132,000, and dated October IS, 1999, authorized by this Ordinance. "City" means the City of Bel Aire, Kansas. "Clerk" means the duly appointed and acting Clerk of the Issuer or, in the Clerk's absence, the duly appointed Deputy Clerk or Acting Clerk. "Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations proposed or promulgated thereunder of the United States Department of the Treasury. "Improvements" means the improvements referred to in the preamble to this Ordinance. "Mayor" means the duly elected and acting Mayor or, in the Mayor's absence, the duly appointed and/or elected Vice Mayor or Acting Mayor of the City. "Ordinance" means this Ordinance authorizing the issuance ofthe Bonds. \KM C\4022 72\BAS ICDOCS 3 "State" means the State of Kansas. Section 2. Authorization of the Bonds. There shall be issued and hereby are authorized and directed to be issued the General Obligation Bonds, Series B, ] 999, of the City in the principal amount of $2,] 32,000, for the purpose of providing funds to pay the costs of the Improvements. Section 3. Security for the Bonds. The Bonds shall be general obligations of the City payable as to both principal and interest from special assessments levied upon the property benefited by the construction of the Improvements and, if not so paid, 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 a resolution hereinafter adopted by the governing body of the City. Section 5. Levy and Collection of Annual Tax. The governing body ofthe City 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 and/or assessments upon all of the taxable tangible property within the City in the manner provided by law. The taxes and/or assessments 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. The proceeds derived from said taxes and/or assessments shall be deposited in the Bond and Interest Fund. ]f at any time said taxes and/or assessments 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 and/or assessments are collected. Section 6. Tax Covenants. The City covenants and agrees that (a) it will comply with all applicable provisions of the Code, including Code S ]03 and 141 through ]50, necessary to maintain the exclusion from federal gross income of the interest on the Bonds; and (b) it will not use or permit the use of any proceeds of Bonds or any other funds of the City, nor take or permit any other action, or fail to take any action, which would adversely affect the exclusion from federal gross income of the interest on the Bonds. The City will also adopt such other ordinances or resolutions and take such other actions as may be necessary to comply with the Code and with other applicable future law, in order to ensure that the interest on the Bonds will remain excluded from federal gross income, to the extent any such actions can be taken by the City. Section 7. Further Authority. The Mayor, 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 \KMC\402272\BASICDOCS 4 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. Section 8. Governing Law. This Ordinance and the Bonds shall be governed exclusively by and construed in accordance with the applicable laws of the State. Section 9. Effective Date. This Ordinance shall take effect and be in full force from and after its passage by the governing body of the City, approval by the Mayor and publication in the official City newspaper. [BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK] \KM C\4022 72\BAS ICDOCS 5 PASSED by the governing body of the City on October 19, 1999 and APPROVED AND SIG~F;~ ~tlJe Mayor. i'"le), --- /ji: ;: i,:~ r" /~r ' ./.' "f\r C ".1," . f" /l.J "'-1.'1/ ',\-,,\,\,0'" T'1 ~li. \>-\ h- \ ~.. ~ ~i~D~fc~~;l;"~';' \ ~ -< '-:__1 H f J I il~: I.::.. ~;. \:;fL rIll , ~ L ~ r d. ~j >.~ ~t;ffiST~ r $ P 1$ r /~< 1:- / ,'~, ./ ~, l'" I (I >. .,' .... '~. : ""! r t 1-\ \ .. ~ f~~ "7 Clerk [BALANCE OF PAGE INTENTIONALLY LEFT BLANK] \KMC\402272\BASICDOCS 6