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2304 Issue Improvement Bondsu 1 IDTiilvC;T;ivGi . 2304 (rublished in The Salina Evening 'Journal January 3rd, 1920 An ordinance providing' for the issuance of Improvement Bonds of the city of Salina, Kansas, in the sum. of $49,656.29 to pay the costs of improving certain streets in said City. VIVIIE EAS, in pursuance of proceedings duly had according to law, contracts have been let for the pavirig, excavating, curbing, guttering and grading of: Phillips Street,frori the south line of 'Nalnut Street to the north line of South ::street, and Fifth Street,from the south line of Prescott avenue to the south line ofd utreet , and dh S, the total cost of said improvements has been -ascer- tained and the portion thereof to be paid by a general tax to be levied upon all of the taxable property within said City for the improvement of squares and areas formed by crossing of streets and alleys and for City property for which bonds are to be issued as hereinafter provided, has been ascertained and is hereby determined and found: to be the sum of x;5,590.10, and 'lJi%EEtS, the portion thereof to be paid by special assessments levied upon the lots and pieces of ground liable therefor has been ascertained and is hereby found and determined to be the sum of $45,633.13 ;which said last -amount 1ias been heretofore duly assessed and apportioned to the several lots and pieces of ground on such streets liable therefor, payable in ten equal annual installments according to law and as provided in ordinances of the city of Sali- na, Kansas, duly passed and approved, and WHMELS, the amount of said special assessments for which bonds are to be issued as herein provided in anticipation of said. specisl assessments which remain unpaid has been ascertained.. and is hereby determined and found to be the sum of '44,066.19, the difference between said last two named amounts having been paid by the property owners of said above named streets whose property has been thereby discharged from any further assessments for the cost of said improvements in the amount So paid, Now, Therefore, BE IT ORDAIVED by the tv!ayor and Councilmen of the City of Salina: Section 1. That the cost of suer, said improvements, after deducting therefrom the assessments heretofore paid thereon as afore- said, including the cost of the improvement of the squares and areas formed by the crossing of streets and aLlleys and of city property, shall be paid in ten equal annual installments insetead of levying the entire cost at one time; the first installment of which is to be paid with the taxes for the year 1920 and one installment with the taxes for each succeeding year thereafter until the whole amount thereof shall have been paid and that :for such installments there shall be and• are hereby. issued Imiprovement c Bonds of the City of Salina, Kansas, in the aggregate sum of V49656.29 as hereinafter provided. Section 2. Said issue of bonds shall consist of 99 bonds of the denomination of 4`500.00 each and one bond of the denom- ination of $156.29 numbered from 1 to 100 inclusive, all bearing interest at the rate of four and three -q=uarters (Q.1%) per cent per annum, interest payable semi-annually. upon the first day of 'March and September of each year after the date of said bonds which shall be dated September lst, 1919; ex- cept that the first interest. payment on said bonds shall be due and payable on the firstday of September, 1920, and on the first days of March and September of each year thereafter during the life of said bonds. Said bones shall have inter- est nter\est coupons thereto attached and said bonds shall become due and payable as follows.: $4656.29 on the first day of September, 1920, acid $5,000.00 on the first day of September in each succeeding year thereafter for a period of nine (9) years. Section 3. Said bonds shall be signed by the Mayor .and attested by the Clerk of the City of Salina, Kansas, and shall have the corporate seal of said City attached thereto. In- terest' coupons to said bonds shall be signed by said Clerk and both bonds and coupons shall be paid at the fiscal agency of the State of Kansas in the City of Topeka, Kansas. :section 4. Said bonds shall be executed in the forni and shall contain recitals substantially as follows: UN MED STATES OF AMEP ICA . STx,TE OF KANS4S. CITY OF SA LIN& . Iib; Y�iOVEIu;Li'T B 0EID KNO'ki ALL MEN BY THESE PRESENTS , That the C ity of Salina in the County of Saline and estate of Kansas, for value re- ceived, hereby acknowledges itself to -be indebted and promises to pay to the bearer the principal sura of in lawful money of the United States of nmerica, on the lst day of September, , with interest thereto at the rate of four and three-quarters (4-3/4jo) per cent per annum, payable semi. - annually on the first days of September, and March of each year until the principal sum shall have been paid, upori the presentation and surrender of the proper interest coupons hereto attached bearing the lithographed signature of the Clerk of said City, as they severally become due, and both principal and interest are payable at the Fiscal Agency of the State of Kansas, in the City of. Topeka, Kansas, and the City of Salina is held and firmly bound, and its faith and credit` and all real and personal property in said City are hereby irrevocably pledged for the prompt payment of this b-ond and the interest thereon at maturity. This bond is one of a series of 100 bonds of line date and tenor a'ggregat ing $49,656.29, issued by said City of Salina to pay for street improvements lin and for said City, under and by the authority of and In -compliance with the pro- visios of the lays of the State of tsarlsas covering cities of secon class, and in compliance with, ordinance duly and le 1 1 1 1 1 u 1 1 gally passed by the Mayor and Council of said City. SND I`l' I IIEREBY DI LiRED A14D CERTIFIED that all acts, con- ditions and things required to .be done and to exist precedemt to the issuance of this bond have been properly done and performed and do exist in regularanddue form as required by the consti- tution and laws of the tate of Jiansas, and that the total in- debtedness of said City, including this series of bonds does not exceed any constitutional or statutory limitations. IN WIITIiiESS WHEREOF, the said City of Salina, by its Mayor and Councilmen has caused this bond to be signed by its Mayor and attested by its �^ity Clerk and its corporate seal to be here- to affixed and this bond to be dated of the first, day of Septem- ber, A. D. 1919. Attest: City Clerk. Mayor. Section 5. The first interest coupon to be attached. to said bonds shall be substantially as follows: N 0 . On the first day of September, 1920, the City of Salina, Kansas, will pay to the bearer. , at the fiscal agency of the hState of Kansas in the city. of I'opeka, Kansas, the same being one years interest on its Improvement Bond dated September Ist, 1919. No. City Clerk. The remaining interest coupons to be attached to said bonds shall be substantially as follows: On the first day of 19 , the City of Salina, Kansas, will pay to the bearer at the fiscal agency of the Mate .of -'iansas, in the city of Topeka, Kansas, the same being six months interest on its Improvement Bond dated Sep- tember lst, 1919. No. City Clerk. Section 6. The Mayor and Clerk are hereby authorized, direet- ed and empowered without unnecessary delay, to prepare and execute said bonds and coupons containing tyle usual recitals and when exe- cuted, said bonds shall be registered with the Clerk of the city of Salina, Kansas, and with the auditor of the State of Kansas, as required by law, and shall be by the Payor a of said City deliv- ered to the contractors constructing such improver-�ents in proport.m to the amounts due them for such work or improvements; Provided, however, that suvh bonds shall not be sold or delivered to such contractor or contractors at less than the par value thereof nor in a greater sum or amount than the whole amount due to said con- tractor or contractors under their respective contracts with said City; or, the Mayor and Council may sell said bonds at not less than their par value and out of the proceeds thereof pay said contractor or contractors for said work and improvements . The 27 full faith and credit of the City of Salina, Kansas, is here-', by pled6ed to secure the payment of the .principal and inter- est of said bonds as they severally become due and payable. Section 7. Said Mayor and .Councilmen shall -make provis- ion for the payment of the principal and interest on said bonds as the same become due and payable by levying a tax on the, pro- perty liable therefor. Section 8. This ordinance shall take effect arid be in full force from and after its publication once in the official City paper. Passed and approved, December 27th, 1919. Attest: Chas. E. banker, City Clerk. Edd Mathew I Mayor STATE OF KAI�IShS )SS. COUNTY OF SALINE I, Chas. E. Banker, City Clerk of the city of Salina, Kansas do hereby certify that the foregoing is a true and cor— rect copy of Ordinance No. 2304 pas -sed by the Council and ap- proved by the Vlayor of th6 city of Salina, Y-ansas, December 217th, 1919; and that a record of the vote on its final adoption is found on iage 1�4 of Journal 1,1o. 9. Said ordinance was pub- lis.hed in The Salina Evening Journal January 3rd, 1920.. City Clerk. I I I. 1 (Published in The Salina Evening journal December 1919) ORDINANCE N0. 2304 An ordinance providingg for the issuance of Improvement Bonds of the City of Salina, Kansas, in the sum of 449,656.29, to pay the costs of improving certain streets in said City. WHEREAS, in pursuance of proceedings duly had according to law, contracts have been let for the paving, excavating, curbing, guttering and grading of: Phillips Street from the South line of Walnut Street to. the Porth line of South Street, and Fifth Street from the South line of Prescott Avenue to the South line of Bond Street, and WHEREAS, the total cost of said improvements has been ascer- tained and the portion thereof to be paid by a general tax to be levied upon all of the taxable property within said City for the improvement of squares and areas formed by crossing of streets and alleys and for City property for which bonds are to be issued as hereinafter provided, has been ascertained and is hereby determined and found to be the sum 460..0$ of X5,590.10, and THEREAS, the portion thereof to be paid by special assessments levied upon the lots and pieces of ground liable therefor has been as- certained and is hereby found and determined to be the sum of 045;633.13 which said lastamount has been heretofore duly assessed and apportioned to the several lots and pieces of ground on such streets liable therefor, payable in ten equal annual.installments according to law and as provided in ordinances of the City of Salina, Kansas, duly passed and approved, and WHEREAS, the amount of said special assessments for which bonds are to be issued as herein provided in anticipation of said special assessments which remain unpaid has been a-sce Jtained and is hereby de- // y termined and found to be the sum of ?44;066.,19, the difference between said last two named amounts having been paid by the property owners of !'1 • 4.' , 2 r I a, of said above named streets whose property has been thereby discharged from any further assessments for the cost of said improvements in the amount so paid, Nov), Therefore, BE IT ORDAINED by the !ayor and Councilmen of the City of Salina: ti Section 1. That the cost,of such said improvements, after deducting therefrom the assessments heretofore paid thereon as afore- said,, including the cost of the improvement of the squares and areas formed by the crossing of streets and alleys and of city property, shall be paid in ten equal annual installments instead of levying the entire cost at one time; the first installment of which is to be paid with the taxes of the year 1920 and one installment with the taxes for each succeeding year thereafter until the whole amount thereof shall have beer paid and that for such installments there shall be and are hereby issued Improvement Bonds of the City of Salina, Kansas, in the �b i93 aggregate sum of 449,656.29 as hereinafter provided. �2 Section 2. Said issue of bonds shall consist of 99 bonds of the denomination of IV500.00 each and one bond of the denomination of rya 3 3 V3 Q156.29 numbered from 1 to 100 inclusive, all bearing interest at the rate of four and three-quarters (4-3/4%) pexcent per annu.6,- interest payable semi-annually upon the first day of March and Septemberof each year after the date of said bonds which shall be dated September 1st, 1919; except that the first interest yment on said bonds shall be due ',a. and.payable on th first day of September 1920 and on the first days of Iv rch and September of each year thereafter during the life of said bonds. Said bonds shall have interest coupons thereto attached and said bDnds shall become due and payable as follows, to -writ: 1-yt`o 33 c:G-dna. goo 00 64656.29 on the f' st day of September., 1920 and $5000.00 on the first day of September -in each succeeding year thereafter for a period of nine (9) years. Section 3. Said bonds shall be signed by the Mayor and attested by the Clerk of the City of Salina, Kansas, and shall have the corporate seal of said City attached thereto. Interest coupons to said bonds 3. shall be signed by said Clerk and both bonds and coupons shall be paid at the fiscal agency of the State of Kansas in the City of Topeka, Kansas. Section 4. Said bonds shall be executed in the form and shall contain recitals substantially as follows: UNITED STATES OF AMERICA. STATE OF KANSAS. CITY OF SALINA. I1 PROVF.BMNT BOND. KNOW ALL 11 -EN BY THESE PRESENTS, County of Saline and State of Kansas, for ledges itselfto be indebted and promises cipal sum of . That value to Da the City of Salina, in the received, hereby acknow- y to the bearer the prin- _;,(— in lawful money of the United States of America, on the 1st day of September, ,' with interest thereon at the rate of Four and three-quarters 00 per per annum, ,payable semi-annually on the first days of Siit&er and D ch of each year until _the principal sum shall have been paid, upon the pre- sentation and surrender of the proper interest coupons hereto attached bearing the lithographed signature of the Clerk of said City, as they severally become due, and both principal and interest arepayable at the Fiscal Agency of the State of Kansas in the City of Topeka, Kansas, and the City of Salina is held and firmly bound, and its faith and credit and all real and personal property in said City are hereby irrevocably pledged for the prompt payment of this bond and the interest thereon at maturity. /1"*0d,,10 3 3 This bond is one of a series of 100 bonds of like date and tenor, aggregating A4 ,656.29, issued by said City of Salina to pay for street improvements in and for said City under and by the authority of and in compliance with the provisions of the laws of the State of Kansas covering cities of the second class, and in compliance with"the Ordinance duly and legally passed by the Mayor and Council of said City. AND IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions and things required to be done and to exist precedent to the issuance of this bond have been properly done and performed and do exist in regular and due form as required by the constitution and laws of the State of Kansas and that the total indebtedness of said City, including this series of bonds, does not exceed any constitutional or statutory limitations. IN WITNESS WHEREOF, the said City of Salina, by its f:9ayor and Councilmen has caused this bond to be signed by its Mayor and attested by its Clerk and its corporate seal to be hereto affixed and this bond to be dated as of the first day of September, A. D. 1919. Attest: City Clerk. or. 4. Section 5. The first interest coupon to be attached to said bonds shall be substantially as follows: No. On the first day of September, 1920, the City of Salina, Lanses, will pay to the bearer a at the fiscal agency of the State of Kansas in the Clty of Topeka, Kansas, the same being one years interest on its Improvement Bond dated September,lst, 1919. No City Clerk. E The remaining interest coupons to be attached to said bonds shall be substantially as follows: 4 No. On the first day of , 19 , the City of Salina, Kansas, will pay to the bearer § at the fiscal agency of the State of Kansas, in the City of Topeka, Kansas, the same being six months interest on its Improvement Bond dated Se tember 1st, 1919. XIII� No. City Clerk Section 6. The Mayor and Clerk are hereby authorized,directed and empowered without unnecessary delay, to prepare and execute said bonds and coupons containing the usual recitals and when executed, said bonds shall be registered with the Clerk of the City of Salina, Kansas, and with the Auditor of the State of Kansas, as required by law, and shall be by the Mayor of said City delivered to the contractors constructing such im- provements in proportion to the amounts due them for such work or improve- ment; Provided, however, that such bonds shall not be sold or delivered to such constractor or contractors at less than the par value thereof nor in a greater sum or amount than the whole amount due to said contractor 5. or contractors under their respective contracts with said City; or, the Mayor ar.d Council may sell said bonds at not less than their par value and out of the proceeds thereof pay said contractor or contractors for said work and improvements. The full faith and credit of the City of Salina, Kansas, is hereby pledged to secure the payment of the principal and interest of said bonds as they severally become due and payable. Section 7. Said Mayor arid. Councilmen shall make provision for the payment of the principal and interest on said bonds as the same become due and payable by levying a tax on the property liable therefor., Section 8. This ordinance shall take effect and be in full force from and after its publication once in the official Citypaper.. Passed and approved, December 1919. May or. Attest: ity ulerk.