(Published at Wichita.gov/LegalNotices on June 20, 2025)
SUMMARY OF ORDINANCE
NO. 52-746
On June 17, 2025, the governing body of the City of Wichita, Kansas passed an ordinance entitled:
AN ORDINANCE AUTHORIZING THE CITY OF WICHITA, KANSAS TO ISSUE ITS TAXABLE INDUSTRIAL REVENUE BONDS, SERIES I, 2025 (BULK CONVEYORS PROJECT) FOR THE PURPOSE OF PAYING THE COSTS OF THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A MANUFACTURING FACILITY; AND AUTHORIZING OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH.
The Ordinance authorizes the Issuer to issue its Taxable Industrial Revenue Bonds, Series I, 2025 (Bulk Conveyors Project) in the aggregate principal amount not to exceed $10,200,000 (the "Series I, 2025 Bonds"), for the purpose of paying the costs of the acquisition, construction and equipping of a manufacturing facility (the "Project"), as more fully described in the Indenture, the Site Lease and the Project Lease authorized by the Ordinance. The Project will be leased by the Issuer to Prestige Worldwide Holdings LLC, a Kansas limited liability company. In connection with the issuance of the Series I, 2025 Bonds, the Issuer approves a ten-year exemption from ad valorem property taxes for the Project.
A complete text of the Ordinance may be obtained or viewed free of charge at the office of the City Clerk, 13th Floor, City Hall, 455 North Main, Wichita, Kansas 67202-1679. A reproduction of the Ordinance is available for not less than 7 days following the publication date of this Summary at https://www.wichita.gov/CityClerk/Pages/Ordinances.aspx.
This Summary is hereby certified to be legally accurate and sufficient pursuant to the laws of the State of Kansas.
DATED: June 17, 2025
Jennifer Magaña, Director of Law
and City Attorney
IPL0244775
Jun 20 2025