RESOLUTION NUMBER 24-8196
A RESOLUTION PROVIDING FOR THE ISSUANCE OF TEMPORARY NOTES AND/OR GENERAL OBLIGATION BONDS OF THE CITY OF SALINA, KANSAS TO FINANCE MUNICIPAL SOLID WASTE IMPROVEMENTS.
WHEREAS, the City of Salina, Kansas (the “City”), collects and dispenses of solid waste as a municipal function under the laws of the State of Kansas, including K.S.A. 12-2101 et seq. (the “Act”); and
WHEREAS, the City Commission (the “Governing Body”) of the City hereby finds and determines that it is necessary to construct certain landfill cell improvements to the City’s solid waste facility and all improvements necessary and related thereto (the “Project”); and
WHEREAS, the Governing Body hereby finds and determines that it is necessary for the City to issue its temporary notes and/or general obligation bonds (the “Obligations”) to pay the cost of the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS:
Section 1. It is hereby deemed and declared to be necessary for the City to construct the Project as described above.
Section 2. In order to pay the costs of the Project, it is necessary for the City to issue its Obligations in the amount not to exceed $4,000,000, plus the costs of issuance and interest on temporary financing under the authority of the Act and K.S.A. 10-101 et seq.
Section 3. Before issuing the Obligations, this resolution shall be published once each week for two consecutive weeks in the official City newspaper. The Obligations may be issued unless a petition in opposition thereto, filed by not less than 5% of the electors of the City, is filed with the County Election Officer of Saline County within 30 days following the second publication of the resolution. If no sufficient petition is filed with the County Election Officer of Saline County, then the Governing Body may proceed with the issuance of the Obligations.
Section 4. The City has incurred preliminary expenditures and expects to make expenditures on and after the date of adoption of this resolution in connection with the Project and intends to reimburse itself for such expenditures with the proceeds of the Obligations pursuant to Treasury Regulation § 1.150-2.
Section 5. This resolution shall be in full force and effect from and after its adoption.
ADOPTED by the Governing Body on April 8, 2024.
(Seal)
Bill Longbine, Mayor
ATTEST:
Nikki Goding, City Clerk