HomeMy Public PortalAboutOrd 414 B.A.Dev. Authority
Gilmore & Bell, p, C.
8/3l/2004
ORDINANCE NO. Jfl'l
AN ORDINANCE APPROVING THE FORMATION OF A KANSAS LIMITED
LIABILITY COMPANY TO FACILITATE THE FINANCING OF PUBLIC
PROJECTS AND IMPROVEMENTS ON BEHALF OF THE CITY OF BEL AIRE,
KANSAS; DETERMINING THAT THE FORMATION OF SAID COMPANY IS
NECESSARY AND ADVISABLE TO SERVE THE PUBLIC PURPOSES OF THE
CITY; APPROVING AND AUTHORIZING THE EXECUTION OF AN
OPERATING AGREEMENT AND ALL OTHER DOCUMENTS NECESSARY
FOR THE FORMATION OF THE COMPANY; AND REPEALING ORDINANCE
NO. 404 OF THE CITY.
WHEREAS, the City Council (the "Governing Body") of the City of Bel Aire, Kansas (the
"City"), hereby finds and determines that it is necessary, desirable and in the best interests ofthe City and
its citizens to undertake certain public projects and make certain capital improvements for the benefit and
use of the City and thereby improve and enhance the ability of the City to provide for economic
development in the City and quality facilities and services to citizens residing in the City; and
WHEREAS, it is proposed that the Bel Aire Development Authority, LLC, a limited liability
company of the State of Kansas (the "Company"), be formed under K.S,A. 17-7601 et seq, (the "Act"),
with the approval of the City, to undertake and finance the costs of certain public projects and capital
improvements for the economic benefit and use of the City; and
WHEREAS, the Company will be authorized and empowered to borrow money through
obligations of said Company and to use the proceeds of such obligations to plan, develop, acquire,
construct, reconstruct, improve, extend, widen, repair, remodel and renovate projects and facilities in
order to further the economic development and other City public purposes for which the Company will be
formed; and
WHEREAS, it is necessary and desirable for the Governing Body to approve the formation of
the Company so that the City and the Company can proceed with the preparation of plans, documents,
authorizations and applications that are necessary to proceed with the financing of public projects and
capital improvements to benefit the City,
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
OF BELAIRE, KANSAS, AS FOLLOWS:
Section 1. Public Purpose. The Governing Body of the City hereby finds and determines that
the formation of the Company will promote the public welfare by improving and enhancing the ability of
the City to provide for economic development in the City and quality facilities and services to citizens
residing in the City,
KMC\403385\ORDINANCE (8-31-04)
1
Section 2. Approval of Formation of the Company. The Governing Body hereby approves the
formation of the Company for the purposes set forth in its Articles of Organization attached hereto as
Exhibit A,
Section 3. Approval of Articles of Organization and Operating Agreement of the Company.
The Governing Body hereby approves the Articles of Organization in substantially the form attached
hereto as Exhibit A and the Operating Agreement in substantially the form attached hereto as Exhibit B.
The Mayor is hereby authorized to execute said documents and is directed to file said Articles of
Organization with the Secretary of State of Kansas,
Section 4. Issuance of Obligations by the Company. The Company shall issue no obligations,
or otherwise enter into financing agreement, with respect to financing public projects and capital
improvements to public facilities of the City until, in each case, the Governing Body adopts a resolution
approving each specific obligation or agreement, Any obligations of the Company shall not be a debt of
the City and the City shall not be liable thereon, In no event shall any obligations or agreements issued or
entered into by the Company constitute an indebtedness of the City within the meaning of any
constitutional or statutory debt limitation or restriction,
Section 5. Costs and Expenses. The Governing Body hereby authorizes the Mayor and such
officers and employees as the Mayor may designate, to proceed with the planning and design work for
proposed public projects and capital improvements and authorizes the City, subject to prior approval of
the Governing Body, to advance the funds necessary for such purposes, Any funds advanced by the City
as aforesaid shall be promptly reimbursed to the City by the Company, to the extent such reimbursement
is permitted by law, from the proceeds of any obligations issued by the Company,
Section 6. Further Authority. The Mayor and such officers, employees and representatives of
the City as he may direct, are hereby authorized and directed to proceed with the necessary negotiations
and the preparation of the legal documents relating to the public projects and capital improvements to
public facilities contemplated hereby and the issuance of obligations, or the entering into of other
agreements, by the Company to finance such improvements; provided, however, that all documents
whose execution and delivery are contemplated by the provisions hereof, including but not limited to, the
terms of any obligations and of the sale of the same, shall be approved by the Governing Body,
Section 7. 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]
KMC\403385\ORDINANCE (8-31-04)
2
PASSED by the governing body of the City on September 7, 2004 and APPROVED AND
SIGNED by the Mayor,
ryotL
".;) ...'- -'-~ J
',""\, ',,' _ /'": "," 'I
.....,., ,{il"~r '
:; 'tV 't(.~, '1'\ r~,
"I '1f~L\ \ - ,
lA, IJ \~,lll, " "".
-l · I , .0
.~. \,)ClnH)'~,
. " ,.-:-:~- 1 \ l ! j I ti ~ ,__
, .,.. \~ t\IT~:, 'I . ;'~ / :-r
~, lr! nSI~'"
// , ~
, " \\ >,
~.J 'r ,,'
, (! '
7!/lJ-
ayor
~~C~
KMC\403385\ORDINANCE (8-31-04)
3