HomeMy Public PortalAboutOrd 455 GO Bonds Economic Development Incentive
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Gilmore & Bell, P.C.
02/05/2007
(Published in The Ark Valley News on February ~ 2007)
ORDINANCE Nlt !/Sf/--
A HOME RULE ORDINANCE OF THE CITY OF BEL AIRE, KANSAS,
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE
CITY TO PROVIDE FUNDS FOR AN ECONOMIC DEVELOPMENT
INCENTIVE TO BE USED IN CONNECTION WITH THE SALE OF REAL
PROPERTY FOR DEVELOPMENT IN THE CITY.
WHEREAS, the governing body of the City of Bel Aire, Kansas (the "City") has considered the
needs of the City for the development of real property within the corporate limits of the City to promote the
stimulation and fostering of economic development in the City and its environs, all in order to enhance and
provide for the general and economic development and welfare of the City and its citizens; and
WHEREAS, the City has, pursuant to a lease-purchase agreement, acquired certain real property
(the "Real Property") and it intends to sell portions of such Real Property in furtherance of development
purposes set forth in the preceding recital; and
WHEREAS, the governing body of the City has determined it advisable and in the best interests of
the City to plat a certain portion of the aforementioned Real Property to ready such property for sale (the
"Project") and to pay the costs thereof, estimated to be in the amount of $55,000; and
WHEREAS, K.S.A. l2-l6l7h (the" Act") authorizes the City to levy a tax and expend public funds
for economic development purposes, but by its terms, the Act is not the exclusive means of providing such
funds and recognizes and acknowledges that the City may, in its discretion, exercise any other lawful
authority to provide funds for such purposes; and
WHEREAS, Article 12, 9 5 of the Constitution of the State of Kansas (the "Home Rule
Amendment") empowers cities to determine their local affairs and government and provides that such power
and authority granted thereby to cities shall be liberally construed for the purpose of giving to cities the
largest measure of self-government; and
WHEREAS, the City is a city within the meaning of the Home Rule Amendment; and
WHEREAS, there is no enactment of the Kansas legislature which prohibits a city from issuing
general obligation bonds to provide funds to pay for platting of certain property to ready such property for
sale and to advance the City's economic development goals; and
WHEREAS, the governing body of the City hereby further finds and determines that it is necessary
and advisable and in the interest of the public health, safety and welfare, including economic development,
of the City, to authorize by home rule ordinance the issuance of general obligation bonds of the City to
provide funds to pay for the Project.
KMC\40181027\HOMERULEORDINANCE
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NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
OF BEL AIRE, KANSAS:
SECTION 1. Economic Development. The governing body of the City hereby fmds and
determines that the Project will stimulate and foster the sale of a portion of the Real Property, and will
continue to stimulate and foster economic development in the City and its environs in order to enhance and
provide for the general and economic development and welfare of the City and its citizens.
SECTION 2. Financing Authorization. The Project costs may be paid. in whole or in part,
from the proceeds of general obligation bonds of the City (the "Bonds"), which are hereby authorized to be
issued for such purposes pursuant to the authority of the Act and the Home Rule Amendment in the amount
of $55,000, including associated costs of issuance. The Bonds authorized pursuant to this Ordinance are
authorized to reimburse prior expenditures by the City.
SECTION 3. Further Authority. The officials of the City, the City Attorney, Gilmore & Bell,
P.C. as Bond Counsel and other consultants are authorized to proceed with such planning and document
preparation as necessary in connection with the Project and other legal documents necessary in order to
comply with the intent of this ordinance, subject to final approval of such documents by the governing body.
SECTION 4. Effective Date. This Home Rule Ordinance shall be effective from and after final
passage by the governing body and publication once in the official City newspaper.
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