2333 Issue Bonds0
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(Published in the Salina Evening Journal April 2- 4 1920)
ORDINANCE NO. ;,=2333
AN ORDINANCE providing for the issuance of the bonds of the City of
Salina, Kansas, in the sum of 45pi
000.00 to pay the purchase
rice of Reserve (lumber Two (2) n Riverside Park Addition to
the City of Salina, Kansas, to be used for park purposes.
WHEREAS at an election duly held in the City of Salina,
Kansas, upon the 6th day of April, 1920, there was submitted.to the
qualified electors of the said City the proposition of whether or rot
the Mayor and Councilmen of the City of Salina, Kansas, should be
authorized to issue the bonds of the said City in the sum not to ex-
ceed Five Thousand Dollars for the purpose of acquiring for park pur-
poses that tract or parcel of land known as Reserve. Number Two (2)
in Riverside Park Addition to the City of Salina, Kansas, and
WHEREAS at such election a majority of votes cast thereat
upon said proposition were cast in favor. of authorizing the said Idayor
and Council to issue said bonds in the said sum for such purpose, and
WHEREAS by an ordinance duly passed and approved upon the
19th day of April, 1920, the said Mayor and Councilmen of the City of
Salina did purchase from the owner thereof the said tract or parcel of
land known as Reserve Number Two (2) in Riverside Park Addition to the
City of Salina, Kansas, to be used for park purposes for the sum of
Five Thousand Dollars, NOW THEREFORE:
BE IT ORDAINED BY THE IJAYOR AND COUNCILIrTI1 OF THE CITY OF SALINA, KANSAS:
Section 1. That for the purpose of obtaining the money with
which to purchase that tract of land known as Reserve Number -'Two (2)
in 1'iverside Park Addition to the City of Salina, Kansas, there shall
be and are hereby issu�the bonds of the City of Salina, Kansas in the
sum of Five Thousand Dollars as hereinafter provided.
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Section 2. Said issue of bonds shall consist of Ten (10)
bonds of the denomination of five Hundred (5500.00) Dollars each
numbered from one to ten inclusive and shall bear date of May lst,
1920 and shall be due and payable five (5) years after their date.
Such bonds shall draw interest at the rate of four and one half per
cent per annum, interest payable semi-annually upon the 1st day of
november and lay of each year after the date of said bonds.
Section 3. Such bonds shall be signed by the Iaiayor and
attested by the Clerk of said City of Salina, Kansas, and shall
have the corporate seal of said city attached thereto. The interest
coupons attached to.the said bonds shall be signed by the Clerk of
the said City and both the bonds and the coupons shall be payable at
the Fiscal Agency of the State of Kansas at the City of Topeka, Kansas.
Section 4. Said bond shall be executed in the form and
shall contain recitals substantially as follows:
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?500.00
UNITED S'T'ATES OF AhERICA
STATE OF KANSAS
CITY OF SALI14A
r
No.
t210W ALL IJEN BY THESE PRESENTS, That the City of Salina, in
the County of Saline and State of Kansas, for value received, hereby
acknowledge itself to be indebted and promises to pay to the bearer
the sum of W0.00 in lawful money of the United States of America, on
the day of 'A. D., 19 , with interest thereon
1
at the rate of Your and one-half 420 per cent per annum, payable
semi-annually, on the day of and
of each year after the date hereof until the principal sum shall have
been paid, upon the presentation and surrender of the proper interest
coupon hereto attached, bearing the signature of the Clerk of said
City as they become severally due and payable. Both principal and
interest are payalbe at the Fiscal Agency of the State of Kansas in
the City of 'Topeka, 4,nsas; and the City of Salina, Kansas is meld
and firmly bound and its faith and credit and all real and personal
property in said City are hereby pledged for the prompt payment of the
principal and interest of this bond upon tiiei'r maturity.
This bond is one of a series of bonds of like date and tenor
issued by said City of Salina, Kansas to pay for public narks in and
for the said City under and by authority of and in compliance with the
Provisions of the laws of the State of Kansas governing cities of the
second class, and in compliance with an ordinance duly and legally
gassed by the 1-ayor and Council oi• said City on the day of
A. D. 19
And it is hereby declared and certified that all acts, con-
ditions and things required to be done and to exist precedent to and in
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 tie State of Kansas, and that the total indebtedness of said City,
including this series of bonds, does not exceed any constitutional or
statutory limit.
IN `v1ITNESS 'VEPEOF, said City of Salina, by its 1dayor and
Council, has caused this bond to be signed by its Mayor and attested
by its Clerk and its corporate seal is hereto attached.
Dated this day of A. D., 19
Attest: _ Mayor.
City Clerk.
Section 5. The interest coupons to be attached to said bonds
shall be substantially as follows:
On the day of 19—, the City of Salina, Kansas,
will pay to the bearerat the Fiscal Agency of the State of
Kansas, in the City of Topeka, Kansas, the same.being six months interest
on its Park bond dated May lst, 1920.
No:
City Clerk
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Section 6. The Mayor and Clerk of said City are hereby auth-
orized, directed and empowered without unnecessary delay to prepare and
execute said bonds and coupons as in this ordinance provided and that
when executed said bonds shall be registered with the Clerk of said
City of Selina and with the Auditor of State of Far,sas as required by
law. and when said bonds are so executed they shall be by the said
I;Sayor and Council sold and out of the proceeds thereof the. said Ialayor
and.Council shall pay to the owner of said tract of.land the sum of
Five Thousand Dollars upon the execution: and delivery to the proper
officers of the City of Salina, a good and sufficient '+larranty Deed
conveying to said City all of that tract or parcel of land known as
Reserve number ''Two (2) in Riverside Park addition to the City of Salina,
h-ansas. PROVIDED, HOp'IEVER, that said bonds shall not be sold for less
thAn their par value and the money derived therefrom shall riot be used
for any other purpose except as in this ordinance provided. And pro-
vided further that the I:Iayor and Council may deliver said bonds to
the owner of said land in payment therefor at not less than their par
value.
Section 7. The Llayo-r and Council shall levy annually upon
all taxable property in said City in addition to levies authorized for
other purposes a sum sufficient to pay the interest on said bonds under
the provisions of this ordinance and shall also in the manner provided
by law levy taxes upon all taxable property in said City to provide a
sinking fund for the redemption of such 'bonds at their maturity.
Section S. This ordii,ance shall take ef-fect and be in full
force from and after its publication oYceeii� the official city paper.
Passed ai!d approved, April �f r�r 1920.
Attest: City Mayor.
0ity'Clerk.