What's Happening In Oswego

Oswego's Annual Fly In

October 2nd 8am

 

City Wide Garage Sale

October 2nd

 

Oswegofest

October 9th

 

Trunk or Treat

October 31st

Events Calendar

September 2021
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30

City Contact Information

City of Oswego, Kansas
PO Box 210
703 Fifth Street
Oswego, Kansas 67356

Phone: 620-795-4433
Fax: 620-795-4873

Contact Us

facebook-logobutton

Follow us on Face Book

Articles View Hits
1823199

.

Latest News Items

Ordinance #1456 Bond Issuing

Gilmore & Bell, P.C.

06/18/2021

ORDINANCE NO. [1456]

OF

THE CITY OF OSWEGO, KANSAS

PASSED

JUNE 23, 2021

____________________

$2,995,000

GENERAL OBLIGATION REFUNDING BONDS

SERIES 2021-A

$2,300,000

TAXABLE GENERAL OBLIGATION REFUNDING BONDS

SERIES 2021-B

 

(PUBLISHED IN THE LABETTE AVENUE ON JULY 1, 2021)

ORDINANCE NO. [1456]

AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2021-A, AND TAXABLE GENERAL OBLIGATION REFUNDING BONDS, SERIES 2021-B, OF THE CITY OF OSWEGO, KANSAS, FOR THE PURPOSE OF PROVIDING FUNDS TO REFUND A PORTION OF THE CITY'S OUTSTANDING GENERAL OBLIGATION BONDS; 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; AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH; AND MAKING CERTAIN COVENANTS WITH RESPECT THERETO.

            WHEREAS, the City of Oswego, Kansas (the “City”) is a city of the second class, duly created, organized and existing under the Constitution and laws of the State; and

            WHEREAS, the City heretofore issued and has outstanding the Refunded Bonds and is authorized by K.S.A. 10-427 et seq. to issue general obligation refunding bonds of the City for the purpose of refunding the Refunded Bonds; and

            WHEREAS, in order to achieve interest cost savings through early redemption of the Refunded Bonds, and provide an orderly plan of finance for the City, it has become desirable and in the best interest of the City and its inhabitants to refund the Refunded Bonds.

            NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF OSWEGO, 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.

            “Act” means the Constitution and statutes of the State including K.S.A. 10-101 to 10-125, inclusive, K.S.A. 10-620 et seq., and K.S.A. 10-427 et seq., all as amended and supplemented from time to 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 prescribing the terms and details of the Bonds and making covenants with respect thereto.

            “Bonds” means, jointly, the Series 2021-A Bonds and the Series 2021-B Bonds.

            “City” means the City of Oswego, 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.

            “Governing Body” means the Governing Body of the City.

            “Mayor” means the duly elected and acting Mayor of the City or, in the Mayor's absence, the duly appointed and/or elected Vice Mayor or Acting Mayor of the City.

            “Ordinance” means this Ordinance authorizing the issuance of the Bonds.

            “Refunded Bonds” means, jointly, the Series 2010, Series 2011, Series 2014-1, Series 2014-2, Series 2014-3, and Series 2016 of the Refunded Bonds and the Series 2012 Bond Portion of the Refunded Bonds.

            “Refunded Bonds Paying Agent” means the respective paying agent for each series of the Refunded Bonds as designated in the respective Refunded Bonds Resolution, and any successor or successors at the time acting as paying agent for any of the Refunded Bonds.

            “Refunded Bonds Redemption Date” means August 1, 2021 for the Series 2010, Series 2011, Series 2014-1, Series 2014-2, Series 2014-3, and Series 2016 Bonds and December 1, 2022 for the Series 2012 Bonds.

            “Refunded Bonds Resolution” means each resolution which authorized the Refunded Bonds.

            “Replacement Bonds” means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 213 hereof.

            “SEC Rule” means Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934.

            “Securities Depository” means, initially, DTC, and its successors and assigns.

            “Series 2010, Series 2011, Series 2014-1, Series 2014-2, Series 2014-3, and Series 2016 Bond Portion of the Refunded Bonds” means, collectively, (a) the Series 2010 Bonds maturing in the years 2021 to 2024 in the aggregate principal amount of $90,000; (b) the Series 2011 Bonds maturing in the years 2021 to 2051 in the aggregate principal amount of $2,101,424.53; (c) the Series 2014-1 Bonds maturing in the years 2022 to 2054 in the aggregate pricipal amount of $380,013; (d) the Series 2014-2 Bonds maturing in the years 2022 to 2054 in the aggregard principal amount of $371,369; (e) the Series 2014-3 Bonds maturing in the years 2021 to 2034 in the aggregate principal amount of $109,000; and (f) the Series 2016 Bonds maturing in the years 2021 to 2025 in the aggregate principal amount of $77,000.

            “Series 2010 Bonds” means the Issuer's General Obligation Bonds, Series 2010, dated September 3, 2010.

            “Series 2011 Bonds” means the Issuer's General Obligation Bonds, Series 2011, dated October 20, 2011.

            “Series 2012 Bond Portion of the Refunded Bonds” means, collectively: (a) the Series A, 2012 Bonds maturing in the years 2024 to 2038 in the aggregate pricipal amount of $1,150,000; (b) the Series B, 2012 Bonds maturing in the years 2024 to 2038 in the aggregard principal amount of $1,010,000.

            “Series 2012 Bonds” means, jointly, the Series A, 2012 Bonds and Series B, 2012 Bonds.

“Series A, 2012 Bonds” means the Issuer's General Obligation Refunding Bonds, Series A, 2012, dated March 1, 2012.

“Series B, 2012 Bonds” means the Issuer's General Obligation Water Utility System Refunding Bonds, Series B, 2012, dated March 1, 2012.

            “Series 2014-1 Bonds” means the Issuer's General Obligationt Bonds, Series 2014-1, dated March 4, 2014.

            “Series 2014-2 Bonds” means the Issuer's General Obligation Bonds, Series 2014-2, dated March 4, 2014.

            “Series 2014-3 Bonds” means the Issuer's Taxable General Obligation Bonds, Series 2014-3, dated September 30, 2014.

            “Series 2016 Bonds” means the Issuer's General Obligation Bonds, Series 2016, dated December 27, 2016.

            “Series 2021-A Bonds” means the General Obligation Refunding Bonds, Series 2021-A, authorized and issued by the Issuer pursuant to this Ordinance.

            “Series 2021-B Bonds” means the Taxable General Obligation Refunding Bonds, Series 2021-B, authorized and issued by the Issuer pursuant to this Ordinance.

 

            “State” 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 Refunding Bonds, Series 2021-A of the City in the principal amount of $2,995,000 for the purpose of providing funds to:  (a) refund the Series 2010, Series 2011, Series 2014-1, Series 2014-2, Series 2014-3, and Series 2016 Bond Portion of the Refunded Bonds; and (b) pay costs of issuance of the Bonds.

There shall be issued and hereby are authorized and directed to be issued the Taxable General Obligation Refunding Bonds, Series 2021-B of the City in the principal amount of $2,300,000, for the purpose of providing funds to:  (a) refund the Series 2012 Bond Portion of the Refunded Bonds; and (b) pay costs of issuance of the Bonds.

            Section 3.         Security for the Bonds.  The Bonds shall be general obligations of the City payable as to both principal and interest from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, 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, Details 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 prescribed and subject to the provisions, covenants and agreements set forth in the Bond Resolution hereafter adopted by the Governing Body.

            Section 5.         Levy and Collection of Annual Tax.  The Governing Body 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 upon all of the taxable tangible property within the City in the manner provided by law.

            The taxes 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 the same manner as the general ad valorem taxes of the City are levied and collected, shall be used solely for the 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 for the Bonds.  The proceeds derived from said taxes shall be deposited in the Bond and Interest Fund.

            If at any time said taxes  are not collected in time to pay the principal of or interest on the Bonds when due, the City 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  are collected.

            Section 6.         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 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 of such action shall be conclusive evidence of such necessity or advisability.

            Section 7.         Governing Law.  This Ordinance and the Bonds shall be governed exclusively by 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, approval by the Mayor and publication of the Ordinance or a summary thereof in the official City newspaper.

[BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK]


            PASSED by the Governing Body on June 23, 2021 and APPROVED AND SIGNED by the Mayor.

(SEAL)                                                                                    Daniel J. Chapman                  

Mayor

ATTEST:

            Jennifer Hine               

Clerk

[BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

THE CITY OF OSWEGO IS AN EQUAL OPPORTUNITY PROVIDER AND EMPLOYER - If you wish to file a Civil Rights program complaint of discrimination, complete the USDA Program Discrimination Complaint Form, found online at  http://www.ascr.usda.gov/complaint_filing_cust.html, or at any USDA office, or call (866) 632-9992 to request the form. You may also write a letter containing all of the information requested in the form. Send your completed complaint form or letter to us by mail at U.S. Department of Agriculture, Director, Office of Adjudication, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410, by fax (202) 690-7442 or email at This email address is being protected from spambots. You need JavaScript enabled to view it. 

 

Copyright © 2020. All Rights Reserved.