HomeMy Public PortalAboutOrd 409 Wastwtr Effluent Line
Gilmore & Bell, P.C.
2/2612004
(Published in The Sedgwick County Post on March}{, 2004)
ORDINANCE NO. Jfl) 9
AN ORDINANCE AUTHORIZING THE CITY OF BEL AIRE, KANSAS TO
ENTER INTO A LEASE WITH OPTION TO PURCHASE WHEREBY THE
CITY WILL LEASE FROM THE CITY OF BEL AIRE, KANSAS PUBLIC
BUILDING COMMISSION CERTAIN WASTEWATER EFFLUENT LINE
IMPROVEMENTS; APPROVING THE FORM OF SAID LEASE; AND
AUTHORIZING THE EXECUTION THEREOF AND CERTAIN RELATED
DOCUMENTS.
WHEREAS, the Governing Body (the "Governing Body") of the City of Bel Aire, Kansas (the
"City") has heretofore declared it advisable to acquire property and make thereon and therein wastewater
effluent line improvements in the City of Bel Aire, Kansas (the "Project"); and
WHEREAS, under the authority of K.S.A. 12-1757 et seq. and Charter Ordinance No. 10
(jointly, the "Act"), the Governing Body has heretofore created The City of Bel Aire, Kansas Public
Building Commission, a municipal corporation of the State of Kansas (the "PBC"); and
WHEREAS, the PBC has the power and authority under the Act to issue revenue bonds to
provide funds for the purpose of paying all or a portion of the costs of the Project; and
WHEREAS, the Governing Body has deemed it advisable to request that the PBC provide for
the financing of the Project in an amount of not to exceed $600,000 through the issuance of revenue
bonds; and
WHEREAS, the PBC has deemed it advisable to provide for the financing of the Project by the
issuance of revenue bonds in an amount of not to exceed $600,000, and notice of such intent was properly
published; and
WHEREAS, the estimated costs to acquire and construct the Project are now determined to be
$600,000; and
WHEREAS, for purposes of financing the costs of acquiring and constructing the Project, the
City hereby determines that it is in the best interest of the City that the City and the PBC enter into a
Lease With Option to Purchase (the "Lease"), to provide for the acquisition and construction of the
Project and the leasing of the Project by thePBC to the City; and
WHEREAS, the Lease shall provide sufficient funds to finance an issue of PBC revenue bonds,
in one or more series, in an amount of not to exceed $600,000 which shall have a maturity term of
approximately thirty years (the "Bonds"); and
KMC\403443\ORD.!
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
OF BEL AIRE, KANSAS:
SECTION 1 The City hereby finds and determines, pursuant to the Act that (i) acquiring,
constructing and equipping the Project; (ii) leasing the Project from the PBC under the terms and
provisions set forth in the Lease; and (iii) the issuance of the Bonds by the PBC, with terms as set forth in
the Bond Purchase Agreement, dated as of March 2, 2004, by and between the PBC and Piper Jaffray &
Co., Leawood, Kansas, the purchaser of the Bonds (the "Bond Purchase Agreement"), to finance the costs
of the Project, are necessary, convenient and in furtherance of the governmental purposes of the City,
SECTION 2. The Lease and Bond Purchase Agreement in substantially the form presented to
this meeting of the Governing Body, are in all material respects approved, authorized and confirmed. The
Mayor and the City Clerk are hereby authorized and directed to affix their signatures and the seal of the
City to the Lease and Bond Purchase Agreement, for and on behalf of the City, with such changes therein
as the City Attorney may deem necessary or appropriate.
SECTION 3. The Mayor and City Clerk are hereby authorized 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
intent ofthis Ordinance.
SECTION 4. All action heretofore taken (not inconsistent with the provisions of this Ordinance)
by the City or the officials of the City, directed toward the acquisition, construction and equipping of the
Project, the leasing of the Project from the PBC and the issuance of the Bonds by the PBC, are hereby
ratified, approved and confirmed.
SECTION 5. This Ordinance shall be effective from and its passage by the Governing Body of
the City, approval and execution by the Mayor and publication in the official City newspaper.
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KMC\403443\ORD,1
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PASSED by the Governing Body of the City of Bel Aire, Kansas, on March 2, 2004 and
APPROVED and SIGNED by the Mayor.
THE CITY OF BEL AIRE, KANSAS
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