November 5, 2019, the governing body of the City of Olathe, Kansas passed an ordinance
entitled:
AN ORDINANCE AUTHORIZING THE CITY OF OLATHE, KANSAS, TO ISSUE
TAXABLE INDUSTRIAL REVENUE BONDS (FREMATO USA, INC. –
WAREHOUSE PROJECT), SERIES 2019, IN A PRINCIPAL AMOUNT NOT TO
EXCEED $15,850,000, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE
COST OF ACQUIRING, PURCHASING, CONSTRUCTING, INSTALLING AND
EQUIPPING AN INDUSTRIAL PROJECT, INCLUDING LAND, BUILDINGS,
STRUCTURES, IMPROVEMENTS, FIXTURES, MACHINERY AND
EQUIPMENT; AUTHORIZING THE ISSUER TO ENTER INTO CERTAIN
DOCUMENTS AND ACTIONS IN CONNECTION WITH THE AMENDMENT OF
CERTAIN DOCUMENTS RELATED TO CERTAIN OUTSTANDING BONDS AND
THE ISSUANCE OF SAID SERIES 2019 BONDS.
The Bonds approved by the Ordinance are being issued in the maximum principal amount of
$15,850,000, for the purpose of acquiring, constructing, furnishing and equipping an industrial project for
Fremato USA, Inc., a Kansas corporation, 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. The Ordinance also
approved entering into certain documents amending certain provisions of documents entered into in
connection with industrial revenue bonds previously issued by the City. In connection with the issuance of
the Series 2019 Bonds, the Issuer approves a 10-year exemption from ad valorem property taxes for the
project, subject to certain payments in lieu of taxes. 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. 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 November 5, 2019.
Ron Shaver, City Attorney
/s/Ron Shaver