HomeMy Public PortalAboutOrd 605 GO Bonds Series 2016AGilmore & Bell, P.C.
r0t24/20r6
ORDINANCE NO.605
OF
THE CITY OF BELAIRE, KANSAS
PASSED
NOVEMBER 1,2016
GENERAL OBLIGATION BOI\DS
SERIES 2016A
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(PUBLISHED IN THE THE ARK VALLEY NEZS ON NOVEMBER 3, 2016)
ORDINANCB NO.605
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OFGENERAL OBLIGATION BONDS, SERIES 2016A, OF THE CITY OF BELAIRE' KANSAS; PROVIDING FOR THE LEVY AND COLLECTION OF ANANNUAL TAX F'OR THE PURPOSE OF PAYING THE PRINCIPAL OF ANDINTEREST ON SAID BONDS AS THEY BECOME DUE; AUTHORIZINGCERTAIN OTHER DOCUMENTS AND ACTIONS IN CONNECTIONTHEREWITH; AND MAKING CERTAIN COVENANTS WITH RESPECT
THERETO.
WHEREAS, the City of Bel Aire, Kansas (the "City" and "lssuer") is a city of the second class,dufy created, organized and existing under the Constitution and laws of the State; and
WHEREAS, pursuant to K.S.A. 12-6a01 et seq. and K.S.A. 12-6a26 et seq., as amended, andother 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 Citv. to-wit:
Proiect Description
Courtyards at Elk Creek
Sewer
Water
Paving
Rock Spring Addition-Phase 3
Paving
Sanitary Sewer
Sidewalk
Water Distribution
lltolff Addition
Water Distribution
Sanitary Sewer
Ord./Res. No. Authoritv (K.S.A.) Cost
R-13-10 K.S.A. 12-6a01et seq.
R-13-13 K.S.A. l2-6a01et seq.R-13-16 K.S. A. 12-6a01 et seq.
R-13-29 K.S.A. 12-6a01et seq.
R-13-30 K.S.A. 12-6a01 et seq.R-13-31 K.S. A. l2-6a01 et seq.R-13-32 K.S.A. l2-6a01et seq.
R-13-34 K.S.A. 12-6a01 et seq.
R-13-35 K.S.A. l2-6a01et seq.
R-13-37 K.S.A. 12-6a01et seq.
R-13-39 K.S.A. 12-6a01et seq.
R-13-40 K.S.A. 12-6a01et seq.R-13-41 K.S.A. l2-6a01et seq.
Tierra Verde Addition
Storm Water Sewer and Drainage R-13-36 K.S.A. l2-6a01et seq.
$ 148,641 .03
79,027.59
350,919.47
320,929.93
92,622.92
23,749.65
85,072.38
78,333.95
41,'t07.76
792,308.83
514,99L43
296,770.20
46,240.41
57,993.46
350,919.41
320,929.93
92,622.92
23,',|49.65
85,072.38
78,333.95
41,707.76
792,309.93
Street
Lycee Heights Addition
Paving
Sanitary Sewer
Water Line Extension
; and
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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(including interest on temporary notes of the City and issuance costs of the Bonds) and related expenses
are at least $2,948,810.46, with all of such amount to be paid by the owners of the property within theCity benefited by the Improvements, except for $3,811.31to be paid by the City at-large; and that the
owners of the properry benefited by the lmprovements have paid $3,8 1 I .3 I in .urh into th; C iry Treasuryon account of the Improvements, and there will be$124,999.15 available in the City Treasury premium
on the sale of the Bonds, to pay part of said cost, leaving $2,820,000 to be paid foi Uy the issuance ofgeneral 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 its generalobligation bonds in the amount of $2,g20,000 to pay the costs of the
Improvements; and
WHEREAS, the governing body of the City has advertised the sale of the Bonds in accordancewith the law and at a meeting held in the City on this date awarded the sale of such Bonds to the best
bidders.
NOW THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
OF BELAIRE, 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 shall otherwise indicate, words importing the singular number shall include the plural
and vice versa, and words importing persons shall include firms, associations and corporations, including
public bodies, as well as natural persons.
56Act" means the Constitution and statutes
incfusive, K.S.A. 10-620 et seq. and K.S.A. l2-6a01
to time.
of the State including K.S.A. l0-l0l to 10-125,
el seq., all as amended and supplemented from 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 therito.
"Bonds" means the General Obligation Bonds, Series 2016A, authorized and issued by the Issuer
pursuant to this Ordinance.
"City" means the City of Bel Aire, Kansas.
"Clerk" means the duly appointed and acting Clerk of the City or, in the Clerk's absence, the
duly appointed Deputy, Assistant or Acting Clerk.
"Improvements" means the improvements referred to in the preamble to this Ordinance.
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1
"Mayor" means the duly elected and acting Mayor of the City or, in the Mayor's absence, theduly appointed and/or elected Vice Mayor or Acting Mayor of the Ciqr.
"Ordinance" lneans this Ordinance authorizing the issuance of the Bonds.
"Refunded Notes" means the Series 2013ENotes.
"Refunded Notes Maturity Date" means December 1,2016.
"Series 20138 Notes" means the City's General Obligation Temporary Notes, Series 2013E,
dated December 19, 2013.
'6State" 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 2016A, of the City in the principal amount of
$2,820,000, for the purpose of providing funds to: (a) pay a portion of the costs of the Improvements,
including capitalized interest on the Series 20l6ABonds; (a) pay a portion of the costs of issuance of the
Bonds; and (b) retire a portion of the Refunded Notes.
Section3. Security forthe 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 properly, 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, Detaits 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 prescribei and
subject to the provisions, covenants and agreements set forth in the Bond Resolution hereafter adopted by
the governing body of the City.
Section 5. Levy and Collection of Annual Tax. The governing body of the 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 properfy 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 tne same manner as
the general ad valorem taxes of the City are levied and collected, shall be used solely forthe 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.
If 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.
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Section 6. tr'urther Authority. The Mayor, Finance Director, 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 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 ofsuch action shall be conclusive evidence ofsuch necessity or advisability.
section 7. Governing Law. This ordinance and the Bonds shalr be soverned exclusivelv bv
and construed in accordance with the applicable laws of the State.
Section 8. 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 offrcial City
newspaper.
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PASSED by the governing body of the City on November t,2O16 and AppROVED ANDSIGI{ED by the Mayor.
(SEAL)
ATTEST:
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(Signature Page to Bond Ordinance)
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CERTIFICATE
I hereby certifu that the foregoing is a true and correct copy ofthe original ordinance; that saidOrdinance was passed on November 1,2016 that the record of tne final vote o-n it, purruge is on file inthe office of the city clerk; and that it was published in the The Ark valleyNeps on November 3,2016.
DATED: November 1.2016
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(Signature Page to Bond Ordinance Certificate)
(PUBLISFTED IN THE THE ARK VALLEY NEZ^S ON NOVEMBER 3, 2016)
entitled:
SUMMARY OF ORDINANCE NO.605
on November 1,2016, the governing body of the City of Bel Aire, Kansas passed an ordinance
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF'GENERAL oBLTcATIoN BONDS, SERIES 2016A oF THE cITy oF BELAIRE' KANSAS; PROVIDING FOR THE LEVY AND coLLECTIoN oF'ANANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF ANDINTEREST ON SAID BONDS AS THEY BECOME DUE; AUTHORIZINGCERTAIN OTHER DOCUMBNTS AND ACTIONS IN CONNECTIONTHEREWITH; AND MAKING CERTAIN COVENANTS WITH RESPECTTHERETO.
The Series 2016A Bonds approved by the ordinance are being issued in the principal amount of$2,820,000* to finance certain improvementi in the city, and constitute general obligations of the Citypayable as to both principal and interest from special assessments and, to the extent necessary from advalorem taxes which may be levied without limitation as to on all the taxable tangibleproperry, real and personal, within the territorial limits of the text of the Ordinance'maybe obtained or viewed free of charge at the office of the Ci Central park Avenue, BelAire, Kansas 67226. A reproduction of the ordinance is available for not less than 7 days following thepublication date of this Summary at .ireks.org.
This Summary is hereby certified to be legally accurate and sufficient pursuant to the laws of theState of Kansas.
DATED: November 1,2016.
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