News Releases

6/21/2016 - Ordinance No. 16-10840 Authorizing the Construction of A Multi-Sport Athletic Complex and the Issuance of General Obligation Bonds

ORDINANCE NO. 16-10840

 

AN ORDINANCE OF THE CITY OF SALINA, KANSAS, AUTHORIZING THE CONSTRUCTION OF A MULTI-SPORT ATHLETIC COMPLEX AND THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE CITY TO FUND A PORTION OF THE COSTS THEREOF, ALL PURSUANT TO CHARTER ORDINANCE NO. 39 OF THE CITY AND ARTICLE 12, SECTION 5 OF THE CONSTITUTION OF THE STATE OF KANSAS.

 

 

            WHEREAS, pursuant to Article 12, § 5 of the Constitution of the State of Kansas the City of Salina, Kansas (the “City”) previously passed Charter Ordinance No. 39 (the “Charter Ordinance”) relating to general improvements in the City, including the acquisition or construction of public buildings for recreational purposes and the acquisition of land therefor, and the issuance of general obligation bonds of the City to finance the costs thereof in an amount not to exceed $7,000,000; and

 

            WHEREAS, after publication of the Charter Ordinance according to the law and expiration of the prescribed protest period with no sufficient protest, the Charter Ordinance became effective; 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, the governing body of the City has considered the needs of the City for a downtown mixed-use development, including, but not limited to, a multi-sport athletic complex, museum facilities, an historic theater, other various commercial and residential uses, and associated infrastructure for the stimulation and fostering of 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; and

 

            WHEREAS, the City has entered into discussions and negotiations with various parties to develop, construct, equip and acquire an approximately 69,000 square foot multi-sport athletic complex generally located at 5th & Ash Street in the City (the “Project”); and

 

            whereas, the Project when constructed will be operated by the City; and

 

            WHEREAS, the total costs of the Project are approximately $11,500,000, with not to exceed $7,000,000 of such funds provided by City funds and the balance of such funds to be provided by grants made by private entities to the City and, if available, New Market Tax Credits to be obtained by or on behalf of the City in connection with the Project; and

 

WHEREAS, the City hereby finds and determines that it is necessary and advisable to issue general obligation bonds and/or temporary notes in an amount not to exceed $7,000,000 to pay and provide for the costs of a portion of the Project, including, if necessary, making an economic development grant of such funds to a Kansas non-profit corporation for the purpose of obtaining New Market Tax Credits, all for use in connection with the Project.

 

            NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS:

 

            Section 1.         Authorization.  The governing body of the City hereby finds and determines pursuant to the Home Rule Amendment and the Charter Ordinance that it is necessary and appropriate for the City to provide for the acquisition, construction and equipping  of the Project as described above, and to issue general obligation bonds and/or temporary notes in an amount not to exceed $7,000,000 to pay and provide for the costs of a portion of the Project, including making an economic development grant to a Kansas non-profit corporation for the purpose of obtaining New Market Tax Credits, all for use in connection with the Project.  The governing body of the City further finds and determines that the Project and the proposed financing thereof will 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.         Reimbursement.  The City may make expenditures related to the Project prior to the issuance of general obligation bonds and/or temporary notes described in Section 1 hereof, and the proceeds of such general obligation bonds and/or temporary notes may be used to reimburse expenditures made on or after the date which is 60 days before the date of this Ordinance, pursuant to Treasury Regulation §1.150-2.

 

            Section 3.         Further Authority.  The Mayor, 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 the execution or taking of such action shall be conclusive evidence of such necessity or advisability.

 

            Section 4.         Effective Date.  This Ordinance shall be effective from and after final passage by the governing body, approval and signature by the Mayor and publication once in the official City newspaper.

 

            PASSED by the governing body of the City of Salina, Kansas, on June 20, 2016 and APPROVED AND SIGNED by the Mayor.

 

 

 

(SEAL)                                                                                                                                                

                                                                                       Mayor

 

ATTEST:

                                                         
Clerk