A Resolution authorizing and approving the extension of maturity of $1,500,000 of General Obligation Temporary Notes, Series 2019,  of the City of Kanopolis

(First Published in the Ellsworth County Independent/
Reporter, March 19, 2020)    

RESOLUTION NO. 2020-R-01

A RESOLUTION AUTHORIZING AND APPROVING 
THE EXTENSION OF MATURITY OF $1,500,000 
PRINCIPAL AMOUNT OF GENERAL OBLIGATION 
TEMPORARY NOTES, SERIES 2019, 
OF THE CITY OF KANOPOLIS, KANSAS; 
AND MAKING CERTAIN COVENANTS 
AND AGREEMENTS IN CONNECTION THEREWITH.

WHEREAS, the Issuer is a municipal corporation, duly created, organized and existing under the Constitution and laws of the State; and
WHEREAS, the Issuer is authorized pursuant to the provisions of the laws of the State of Kansas applicable thereto, to incur indebtedness and to issue and sell general obligation bonds of the Issuer to evidence such indebtedness for the purpose of constructing the following improvements (the “Improvements”) to be made in the City:

Project Description:     Public Water Supply System 
            Improvements    
Res. No.:        2018-R-06
Authority (K.S.A.):    65-163d through 65-163u
Estimated Cost:    $2,198,000

WHEREAS, the Issuer has heretofore issued $1,500,000 principal amount of General Obligation Temporary Notes, Series 2019, dated March 27, 2019 (the “Existing Notes”) pursuant to Resolution No. 2019-R-01 (the “Note Resolution”); and
WHEREAS, permanent financing for the Improvements and all aspects of the Improvements will not be completed prior to the maturity date of the Existing Notes and it is necessary for the Issuer to provide for the extension of maturity of the Existing Notes; and
WHEREAS, the Note Resolution provides that the same may be amended from time to time, by subsequent resolution of the Issuer, provided the purchaser of the Existing Notes (the “Purchaser”) consents to such amendments; and
WHEREAS, the governing body of the Issuer hereby finds and determines that it is necessary for the Issuer to extend the maturity of the Existing Notes; and
WHEREAS, the Purchaser has consented to such extension as evidenced by Exhibit A attached hereto.
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF KANOPOLIS, KANSAS, AS FOLLOWS:
Section 1. Authorization of Extension of Maturity.  Section 202 of the Note Resolution is hereby modified to reflect that the Stated Maturity of the Existing Notes (March 26, 2020) shall be extended to June 1, 2020.
Section 2. Ratification. The rest and remainder of Resolution No. 2019-R-01 that authorized the Existing Notes is hereby ratified and confirmed.
Section 3. Further Authority. The officers and officials of the Issuer, including the Mayor and Clerk, are hereby authorized and directed to execute all documents and take such actions as they may deem necessary or advisable in order to carry out and perform the purposes of this Resolution and to make ministerial 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 4. Governing Law.  This Resolution shall be governed exclusively by and construed in accordance with the applicable laws of the State.
Section 5. Effective Date.  This Resolution shall take effect and be in full force from and after its passage by the governing body of the Issuer.
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ADOPTED by the governing body of the Issuer on March 10, 2020.

(SEAL)                                                
/s/ Anthony Hopkins, Mayor

ATTEST:

/s/ Debbie Kralik, Clerk

1t 3/19