HomeMy Public PortalAboutOrd 469 GO Bonds Economic Development
Gilmore & Bell, P.c.
10/23/2008
(Published in Tile Ark Valley News on November 6, 2008)
ORDINANCE NO. 469
A HOME RULE ORDINANCE OF THE CITY OF BEL AIRE, KANSAS,
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE
CITY TO PROVIDE FUNDS TO ACQUIRE CERTAIN REAL PROPERTY FOR
ECONOMIC 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 commercial 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 an option to purchase and acquire certain real property from Security
Bank of Kansas City, Kansas City, Kansas, totaling 42.36 acres in the Southeast Quarter of Section 20,
Township 26 South, Range 2 East, of the Sixth Principal Meridian, in the City (the "Real Property"), in
furtherance of commercial and economic 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 exercise the purchase option and acquire the aforementioned Real Property to ready such
property for commercial and economic development (the "Project") and to pay the costs thereof, estimated
to be in the amount of $392,525; and
WHEREAS, K.S.A. 12-1617h (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, ~ 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 acquisition of certain property to ready such property
for commercial and economic development 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'\60 I 000.0 I OIHOM ERU LEORDI NANC'E
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 finds and
determines that the Project will stimulate and foster commercial and 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. Financin2 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 $400,000, to include 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, including documents arranging for the closing of
the purchase of the Real Property and other legal documents necessary in order to comply with the intent of
this ordinance, and the Mayor and Clerk are authorized to execute such documents..
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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KMC\60 I 000.0 I O\HOM ER U LEORDINANCE
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PASSED by the governing body of the City of Bel Aire, Kansas on October 24, 2008 and
APPROVED and SIGNED by the Mayor.
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Clerk
KMCI60 I 000.0 I OIHOMERU LEORDINANCE
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Mayor
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CERTIFICATE
I hereby certify that the foregoing is a true and correct copy of the original ordinance; that said
Ordinance was passed on October 24, 2008; that the record of the tinal vote on its passage is found on
page _ of joumal_; and that it was published in the Tile Ark Valley News on October _ 2008.
DATED: October _, 2008.
Clerk
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KMC\60 I 000.0 I OIHOMERU LEORDINANCE
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