(PUBLISHED IN THE GARDNER NEWS ON JANUARY 30, 2019)
SUMMARY OF ORDINANCE NO. 19-03
On January 22, 2019, the governing body of the City of Olathe, Kansas passed an ordinance entitled:
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF STORMWATER SYSTEM REVENUE BONDS, SERIES 2019, OF THE CITY OF OLATHE, KANSAS; MAKING CERTAIN COVENANTS AND AGREEMENTS TO PROVIDE FOR THE PAYMENT AND SECURITY THEREOF AND AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH.
The Series 2019 Bonds approved by the Ordinance are being issued in the principal amount of $3,225,000 to finance certain improvements to the stormwater system of the City, and constitute special obligations of the City payable solely from, and secured as to the payment of principal and interest by a pledge of, the Gross Revenues derived by the City from the operation of the stormwater system. A complete text of the Ordinance may be obtained or viewed free of charge at the office of the City Clerk, 100 E. Santa Fe Street, Olathe, Kansas. A reproduction of the Ordinance is available for not less than 7 days following the publication date of this Summary at http://www.olatheks.org/government/city-clerk/public-notices.
This Summary is hereby certified to be legally accurate and sufficient pursuant to the laws of the State of Kansas.
DATED: January 22, 2019.
Ronald Shaver, City Attorney