SUMMARY OF ORDINANCE
NO. 52-800
On August 26, 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 II, 2025 (MID-CONTINENT INSTRUMENT PROJECT) FOR THE PURPOSE OF PAYING THE COSTS OF THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A COMMERCIAL FACILITY; AND AUTHORIZING OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH.
The Ordinance authorizes the Issuer to issue its Taxable Industrial Revenue Bonds, Series II, 2025 (Mid-Continent Instrument Project) in the aggregate principal amount of not to exceed $14,200,000 (the "Series II, 2025 Bonds"), for the purpose of paying the costs of the acquisition, construction and equipping of a commercial 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 DIDCOT, L.C., a Kansas limited liability company. In connection with the issuance of the Series II, 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: August 29, 2025
Jennifer Magaña, Director of Law
and City Attorney
IPL0267927
Aug 29 2025