Title
A RESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND DELIVERY OF GENERAL OBLIGATION BONDS, SERIES A, 2018, OF SEDGWICK COUNTY, KANSAS; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON SAID BONDS AS THEY BECOME DUE; MAKING CERTAIN COVENANTS AND AGREEMENTS TO PROVIDE FOR THE PAYMENT AND SECURITY THEREOF; AND AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS CONNECTED THEREWITH.
Presented by: Lindsay Poe Rousseau, Chief Financial Officer.
RECOMMENDED ACTION:
One of the following (as recommended by staff): (1) Ratify Chairman's acceptance of best bid; OR (2) Accept best bid;
AND adopt the resolution and authorize the Chairman to sign the resolution and all related documents.
Body
The Resolution authorizes the issuance and delivery of general obligation bonds of the County in the principal amount of $3,700,000 and authorizes the Chairman and Chief Financial Officer, in conjunction with Springsted Incorporated, Municipal Advisor, and Gilmore & Bell, P.C., Bond Counsel, to cause to be prepared such other documents and take such further action as may be necessary to accomplish the sale of the bonds.
The bonds will provide funds to permanently finance a portion of the costs of the following public improvements previously authorized by the Board, plus costs of issuance:
Project Description Res. No. Authority Cost Estimate
Courthouse Complex -
Acquisition of building for 167-2014 K.S.A. 19-1510/ $3,700,000
County admin. offices Ch.Res. 56
Total $3,700,000
The bonds to be sold for the Courthouse Complex will be used to reimburse the General Fund for cash used to pay costs incurred to date for the renovation and equipping of the Ronald Reagan Building located at 271 W. 3rd Street in Wichita for use by MABCD, MAPD, the A...
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