RESOLUTION NO. 7219

 

            RESOLUTION AUTHORIZING THE OFFERING FOR SALE OF GENERAL OBLIGATION BONDS OF THE CITY OF LAWRENCE, KANSAS.

 

           

            WHEREAS, the Issuer has authorized certain internal improvements described as follows (collectively, the “Improvements”):

 

 

            WHEREAS, the Issuer desires to offer at competitive public sale the Issuer’s General Obligation Improvement Bonds, Series 2017-D (the “Bonds”); and

 

            WHEREAS, in addition, a portion of the proceeds of the Bonds will be used to retire a portion of the Issuer’s General Obligation Temporary Notes, Series 2015-I (the “Refunded Notes”) which were issued to temporarily finance a portion of the costs of the Improvements; and

 

            WHEREAS, the Issuer desires to issue its general obligation bonds in order to permanently finance the costs of the Improvements; and

 

            WHEREAS, the Issuer has selected the firm of Springsted Incorporated, Saint Paul, Minnesota, (“Municipal Advisor”), as municipal advisor for the Bonds; and

           

            WHEREAS, the Issuer desires to authorize the City Clerk, Finance Director, Municipal Advisor, Bond Counsel and other officers and representatives of the Issuer to proceed with the offering for sale of the Bonds (as defined herein), and related activities; and

 

            BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS, AS FOLLOWS:

 

            Section 1.  The Issuer is hereby authorized to offer at competitive public sale the Bonds, all as described in a Notice of Sale to be prepared by Gilmore & Bell, P.C., Kansas City (“Bond Counsel”), in conjunction with the City Clerk and other appropriate officers of the Issuer.

 

            Section 2.   The Municipal Advisor, in conjunction with Bond Counsel and appropriate officers and representatives of the Issuer, is hereby authorized to cause to be prepared a preliminary official statement and such officials and other representatives of the Issuer are hereby authorized to use such document in connection with the public sale of the Bonds.

 

            Section 3.   The Finance Director, in conjunction with Bond Counsel and appropriate officers and representatives of the Issuer, is hereby authorized and directed to give notice of the sale of the Bonds by publishing a summary of the Notice of Sale not less than 6 days before the date of the bond sale in a newspaper of general circulation in Douglas County, Kansas, and the Kansas Register and by distributing copies of the Notice of Sale and preliminary official statement(s) to prospective purchasers of the Bonds. 

 

            Bids for the purchase of the Bonds shall be submitted upon the terms and conditions set forth in said Notice of Sale, and shall be delivered to the governing body at its meeting to be held on the date of such sale, at which meeting the governing body shall review such bids and shall award the sale of the Bonds or reject all bids for a particular series.

 

            Section 4.  For the purpose of enabling the purchaser of the Bonds (the “Purchaser”) to comply with the requirements of Rule 15c2-12 of the Securities Exchange Commission (the “Rule”), the appropriate officer(s) of the Issuer are hereby authorized:  (a) to approve the form of the preliminary official statement, and to execute the “Certificate Deeming Preliminary Official Statement Final” in substantially the form attached hereto as Exhibit A, as approval of the preliminary official statement, such official’s signature thereon being conclusive evidence of such official’s and the Issuer’s approval thereof; (b) covenant to provide continuous secondary market disclosure by annually transmitting certain financial information and operating data and other information necessary to comply with the Rule to certain national repositories and the Municipal Securities Rulemaking Board, as applicable; and (c) take such other actions or execute such other documents as such officers in their reasonable judgment deem necessary; to enable the Purchaser to comply with the requirement of the Rule.

 

            Section 5.  The Issuer agrees to provide to the Purchaser of the Bonds, within seven business days of the date of the sale of the Bonds, or within sufficient time to accompany any confirmation that requests payment from any customer of the Purchaser, whichever is earlier, sufficient copies of the respective final Official Statement to enable the Purchaser to comply with the requirements of the Rule and with the requirements of Rule G-32 of the Municipal Securities Rulemaking Board.

 

            Section 6.  The Mayor, City Clerk, Finance Director, and the other officers and representatives of the Issuer, the Municipal Advisor, and Bond Counsel are hereby authorized and directed to take such other action as may be necessary to: (a) carry out the sale of the bonds described herein; and (b) make provision for payment and/or redemption of the Refunded Notes.

 

            Section 7.   This Resolution shall be in full force and effect from and after its adoption.

 

           

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ADOPTED by the governing body on August 1, 2017 and APPROVED AND SIGNED by the Mayor.

 

 

 

(SEAL)                                                                                                                                               

                                                                                                Mayor

ATTEST:

 

 

 

                                                                       

            City Clerk

 

 

 

EXHIBIT A

 

CERTIFICATE DEEMING

PRELIMINARY OFFICIAL STATEMENT FINAL

 

August 1, 2017

 

To:       _____________________                    

            __________, ___________

 

 

            Re:       General Obligation Bonds, Series 2017-D

 

Ladies and Gentlemen:

 

            The undersigned is the Finance Director of the City of Lawrence, Kansas (the “Issuer”), and are authorized to deliver this Certificate to the addressee(s) (the “Purchaser(s)”) on behalf of the Issuer.  The Issuer has caused to be delivered to the Purchasers copies of the Preliminary Official Statement (the “Preliminary Official Statement”), relating to the above-referenced bonds (the “Bonds”).

 

            For the purpose of enabling the Purchasers to comply with the requirements of Rule 15c2-12(b)(1) of the Securities and Exchange Commission (the “Rule”), the Issuer hereby deems the information regarding the Issuer contained in the Preliminary Official Statement to be final as of its date, except for the omission of such information as is permitted by the Rule, such as offering prices, interest rates, selling compensation, aggregate principal amount, principal per maturity, delivery dates, ratings, identity of the underwriters and other terms of the Bonds depending on such matters.

 

 

                                                                        Very truly yours,

 

                                                                        CITY OF LAWRENCE, KANSAS

 

 

                                                                        By:                                                      

                                                                        Title:    Finance Director