(Published in The Gardner News on December 11, 2019)
SUMMARY OF ORDINANCE NO. 19-79
On December 3, 2019, the City Council of the City of Olathe, Kansas passed an ordinance entitled:
AN ORDINANCE AUTHORIZING THE CITY OF OLATHE, KANSAS, TO ISSUE
TAXABLE INDUSTRIAL REVENUE BONDS (ALDI INC. PROJECT), SERIES
2019, IN A PRINCIPAL AMOUNT NOT TO EXCEED $4,000,000, FOR THE
PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF ACQUIRING,
PURCHASING, CONSTRUCTING, INSTALLING AND EQUIPPING A
COMMERCIAL PROJECT, INCLUDING LAND, BUILDINGS, STRUCTURES,
IMPROVEMENTS, FIXTURES, MACHINERY AND EQUIPMENT;
AUTHORIZING THE ISSUER TO ENTER INTO CERTAIN DOCUMENTS AND
ACTIONS IN CONNECTION WITH THE ISSUANCE OF SAID BONDS.
The Bonds approved by the Ordinance are being issued in the maximum principal amount of
$4,000,000, for the purpose of acquiring, constructing, furnishing and equipping a commercial project for Aldi Inc. (Kansas), a Kansas corporation (the “Company”), and constitute limited obligations of the City payable solely from the sources and in the manner as provided in the Indenture, and shall be secured by a transfer, pledge and assignment of and a grant of a security interest in the Trust Estate (as defined in the Indenture) to the Trustee and in favor of the owners of the Series 2019 Bonds, as provided in the Indenture. 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. 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: December 3, 2019.
Ronald R. Shaver, City Attorney