SUMMARY OF ORDINANCE NO. 21-20
On May 4, 2021, the governing body of the City of Olathe, Kansas passed an ordinance entitled:
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $35,270,000 PRINCIPAL AMOUNT OF WATER AND SEWER SYSTEM IMPROVEMENT AND REFUNDING REVENUE BONDS, SERIES 2021, 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 2021 Bonds approved by the Ordinance are being issued to finance certain improvements to the water and sewer system in the City and refund previously issued water and sewer system revenue bonds 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 Net Revenues derived by the City from the operation of the water and sewer system. A complete text of the Ordinance may be obtained or viewed free of charge at the office of the City Clerk, 100 East Santa Fe. 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: May 4, 2021.
/s/ Ronald Shaver