City Council
Regular MeetingPaola, KS · December 18, 2015
Minutes
MINUTES OF THE SPECIAL COUNCIL MEETING
OF THE CITY OF PAOLA, KANSAS
12:45 P.M. – December 18, 2015
HELD AT THE PAOLA CITY HALL
19 E Peoria Street in Paola
The Governing Body of the City of Paola, Kansas, met with Mayor Stuteville presiding.
Council Members present: Mayor Artie Stuteville and Council Members Jim Pritchard,
Gee Gee Wilhoite, Leigh House and Aaron Nickelson.
Council Members absent: None.
Also present: City Manager Jay Wieland, City Clerk Dan Droste, Greg
Vahrenberg with Piper Jaffray, and Brian McCauley with the
Miami County Republic.
Agenda Item 1 – Call to Order: The special council meeting was called to order by Mayor
Stuteville at 12:45 pm after the conclusion of the Paola, Kansas Public Building Commission
meeting.
Agenda Item 2 – Roll Call: Mayor Stuteville and Council Members Pritchard, Wilhoite,
House, and Nickelson were all present. No one was absent.
Agenda Item 3 - Consider an Ordinance approving the issuance of Paola, Kansas Public
Building Commission refunding revenue bonds, Series 2016.
In the Paola, Kansas Public Building Commission meeting held immediately prior to this
meeting, Mr. Greg Vahrenberg with Piper Jaffray reported that the sale of the refunding
bonds was completed yesterday. He reported that the original 2007 PBC bonds had an
average interest rate of 4.2% and the purpose of refinancing the bonds was to take advantage
of lower interest rates and to extend the repayment term.
Mr. Vahrenberg reported that Standard and Poor’s provided the financial rating for the bond
issue and their report reaffirmed a rating of “A+ / Stable Outlook” for both the City of Paola
and the Paola, Kansas Public Building Commission.
Mr. Vahrenberg presented the final results of the sale of the refunding bonds noting that the
final principal amount of the issue was $2,185,000 with a “True Interest Cost” of 2.345%., a
slight improvement over the pre-issue estimate $2,190,000 with a “True Interest Cost” of
2.375%. If approved, the closing on the bond issue will take place on January 12, 2016.
Pursuant to that discussion, Council Member Wilhoite made a motion to approve AN
ORDINANCE OF THE CITY OF PAOLA, KANSAS, APPROVING THE ISSUANCE OF
$2,185,000 AGGREGATE PRINCIPAL AMOUNT OF THE PAOLA, KANSAS PUBLIC
BUILDING COMMISSION REFUNDING REVENUE BONDS, SERIES 2016 TO FOR
Paola City Council Minutes – December 18, 2015
Page 1
THE PURPOSE OF PROVIDING FUNDS FOR THE REFUNDING AND EARLY
REDEMPTION OF THE COMMISSION’S REVENUE BONDS, SERIES 2007 (POLICE
STATION); AUTHORIZING THE EXECUTION OF A LEASE OF THE FACILITIES BY
THE CITY FROM THE PUBLIC BUILDING COMMISSION; AUTHORIZING THE
EXECUTION OF A SITE LEASE OF THE LAND BY THE COMMISSION FROM THE
CITY; AUTHORIZING THE EXECUTION OF A BOND PURCHASE AGREEMENT
AND OTHER NECESSARY DOCUMENTS RELATED TO THE TRANSACTIONS
AUTHORIZED HEREIN. Council Member Nickelson seconded the motion and all voted
aye. The motion passed 4 to 0 and the Ordinance was assigned number 3089.
Agenda Item 4 – Adjournment.
With no additional business to come before the Council, Council Member Wilhoite made a
motion to adjourn. Council Member Nickelson seconded the motion and all voted aye. The
motion passed 4 to 0.
_________________________________
Artie Stuteville, Mayor
ATTEST: [seal]
______________________________
Daniel G. Droste, City Clerk
Paola City Council Minutes – December 18, 2015
Page 2
Agenda
REQUEST FOR SPECIAL MEETING OF THE GOVERNING BODY OF THE
CITY OF PAOLA, KANSAS
TO THE HONORABLE MAYOR, ARTIE STUTEVILLE, OF THE CITY OF
PAOLA, KANSAS:
We, the undersigned being duly elected, qualified, and acting Councilmembers of the
City of Paola, Kansas, hereby respectfully request you to call a Special Meeting of the
Governing Body of the City of Paola, Kansas to be held in the Second Floor Conference
Room at Paola City Hall at 19 E Peoria Street in Paola on Friday, December 18, 2015.
There will be a Paola Kansas Public Building Commission meeting at 12:15 pm on this
same date and at the same location. The starting time for the Paola City Council Special
Meeting will be dictated by the conclusion of the Public Building Commission meeting.
The agenda for this meeting is attached.
_______________________________ ___________________________________
Jim Pritchard, Councilmember Ward 1 Gee Gee Wilhoite, Councilmember Ward 2
_______________________________ ___________________________________
Leigh House, Councilmember Ward 3 Aaron Nickelson, Councilmember Ward 4
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
CALL OF SPECIAL COUNCIL MEETING
I, the undersigned Mayor of the City of Paola, Kansas having received a request for a
special meeting of the Governing Body of said city, do by these presents call a special
council meeting of the City of Paola, Kansas for the purpose set forth in the foregoing
request.
_________________________________
Artie Stuteville, Mayor
AGENDA
SPECIAL COUNCIL MEETING OF THE CITY OF PAOLA, KANSAS
TO BE HELD IN THE 2nd FLOOR CONFERENCE ROOM AT PAOLA CITY HALL
19 E Peoria Street Paola, KS 66071
December 18, 2015
Note: The meeting of the Paola City Council will begin at the conclusion of the Paola, Kansas Public Building
Commission meeting that is scheduled for 12:15 pm on this same place and date. The starting time for this
meeting will be dictated by the conclusion of the previous meeting.
~ Thank you for turning off your cell phone. Council Meetings are tape recorded. ~
1. Call to Order
2. Roll Call - Pritchard ___ Wilhoite ___ House ___ Nickelson ___ Mayor Stuteville ___
3. Consider an Ordinance approving the issuance of Paola, Kansas Public Building
Commission refunding revenue bonds, Series 2016.
Action: Motion to approve AN ORDINANCE OF THE CITY OF PAOLA, KANSAS,
APPROVING THE ISSUANCE OF $2,185,000 AGGREGATE PRINCIPAL AMOUNT OF
THE PAOLA, KANSAS PUBLIC BUILDING COMMISSION REFUNDING REVENUE
BONDS, SERIES 2016 TO FOR THE PURPOSE OF PROVIDING FUNDS FOR THE
REFUNDING AND EARLY REDEMPTION OF THE COMMISSION’S REVENUE
BONDS, SERIES 2007 (POLICE STATION); AUTHORIZING THE EXECUTION OF A
LEASE OF THE FACILITIES BY THE CITY FROM THE PUBLIC BUILDING
COMMISSION; AUTHORIZING THE EXECUTION OF A SITE LEASE OF THE LAND
BY THE COMMISSION FROM THE CITY; AUTHORIZING THE EXECUTION OF A
BOND PURCHASE AGREEMENT AND OTHER NECESSARY DOCUMENTS
RELATED TO THE TRANSACTIONS AUTHORIZED HEREIN. (Ordinance No 3089)
4. Adjournment
Action – Motion to adjourn.
~ NOTICE ~
In compliance with the American with Disabilities Act, individuals needing assistance or other services
or accommodation for this meeting should contact City Clerk Dan Droste at least 24 hours in advance
of this meeting at 913-259-3600.
* * *
It is possible that sometime between 5:30 p.m. and 6:00 p.m. immediately prior to this meeting, during breaks, and directly after the
meeting, that a majority of the Governing Body may be present in the meeting room, hallway, or parking lot. No one is excluded from
these areas at any time.
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