SUMMARY OF ORDINANCE NO. 19-72
On November 5, 2019, the Governing Body of the City of Olathe, Kansas passed an ordinance
entitled:
AN ORDINANCE AUTHORIZING THE ISSUANCE BY THE CITY OF OLATHE,
KANSAS OF HEALTH FACILITIES REVENUE BONDS, IN ONE OR MORE
SERIES, THE AGGREGATE PRINCIPAL AMOUNT OF ALL SERIES NOT TO
EXCEED $30,000,000, TO PROVIDE FUNDS TO ACQUIRE, CONSTRUCT,
EQUIP AND FURNISH PROJECTS FOR OLATHE MEDICAL CENTER, INC.
AND ITS AFFILIATES AND TO REFUND ALL OR ANY PORTION OF
CERTAIN BONDS ISSUED BY THE CITY FOR THE BENEFIT OF OLATHE
MEDICAL CENTER AND ITS AFFILIATES, AND AUTHORIZING AND
APPROVING RELATED DOCUMENTS AND ACTIONS
The bonds approved by the Ordinance are being issued in an aggregate principal amount not to
exceed $30,000,000, as part of a plan of finance for the purposes of (1) paying for all or a portion of the
costs related to the acquisition, construction, improvement, extension, repair, equipping and furnishing of
certain health facilities and related facilities, including without limitation, Olathe Medical Center projects,
including medical office building project at Olathe Medical Park, surgery, pharmacy, catheterization
laboratory, and 5th floor projects, and miscellaneous capital improvements (collectively, the “Projects”)
for the benefit of Olathe Medical Center, Inc. (the “Corporation”) and its affiliates, (2) refunding all or any
portion of the City’s Health Facilities Revenue Bonds (Olathe Medical Center) Series 2017B (the “Series
2017B Bonds”) previously issued by the City for the benefit of the Corporation and its affiliates, and (3)
paying certain costs of issuance, all as further described in the hereinafter referred to Bond Indentures and
Lease Agreements. The Ordinance also authorizes modifications to terms and agreements for the Series
2017B Bonds. The bonds shall be limited obligations of the City payable from lease payments to be made
by the Corporation in amounts sufficient to pay the principal of and premium, if any, and interest on the
bonds. The Bonds and interest thereon shall not be deemed to constitute a debt or liability of the City, the
State of Kansas (the “State”) or of any political subdivision thereof within the meaning of any State
constitutional provision or statutory limitation and shall not constitute a pledge of the full faith and credit of
the City, the State or of any political subdivision thereof, but shall be payable solely from the funds provided
for in the Lease Agreements and the Bond Indentures. The issuance of the bonds shall not, directly,
indirectly or contingently, obligate the City, the State or any political subdivision thereof to levy any form of
taxation therefor or to make any appropriation for their payment. 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.
DATED: November 5, 2019
Ronald R. Shaver
City Attorney
/s/ Ron Shaver