Loading...
2585 Improvement Bonds-ORDINANCE -110 st:_puUlished in The Salina Eveni 585' -- - -- --- - Joulrnal September 9th, 1922). An ordinance providing for the issuance of Improvement Bonds of .the City of Salina, Kansas in the sum of $83,301.90 to pay the cost of improving certain streets in said City. 5i11HEREAS, in pursuance of proceedings duly had according to law, contracts have been let and performed for the curbing,. guttering, excavating, grading and paving of CRAAIFORD AVENUE in the City of Salina, Kansas from the west line of Fifth Street to the east line of Santa Fe Avenue; REPUBLIC AVENUE in the City of Salina, Kansas from the east line of Fifth Street to the east line of Santa Fe Avenue; BOND STREET in the!City of Salina, Kan - 1 7 sas an- sas From the wrest line of Fifth Street to ,the, east line of Santa Fe Avenue; OHIO STREET in the City,of Salina, Kansas from the north line of Iron Avenue to the south line of Ash Street; BOND STREET in the City of Salina, Kansas from the west line of High- land Avenue to the east line of Ninth Street; i1ILSON STREET in the City of Salina, Kansas from the east line of Santa Fe Avenue to the west line of Fifth Street; NINTH STREET in the City of f Salina, Kansas from the south line of Republic Avenue to the north line of Jewell Avenue; REPUBLIC AVI-i, U!E in the City of Salina, Kansas from the west line of Highland Avenue to the east line of Ninth Street; REPUBLIC AVENUE in the City of Salina, i Kansas from the west line of Santa Fe Avenue to the east line of Highland Avenue, and BAKER STREE`f in the City of Salina, Kansas from the south line of Walnut Street tothe north line of South- Street therein, and WHEREAS, the total cost of said improvements has been ascertained 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 the crossings 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 some of $19,050.56 and, WHEREAS, the portion thereof to be paid by special assessments levied upon the lots and pieces of ground fable therefor has been ascertained and is hereby found and determined I to be the sum of $69,417.11 which said last amount has been here- tofore 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 I , ed, and - I passed and approv- 11 1 D 1 1 C 1 u /I 1 1 WHEREAS the amount of said special assessments for which bonds are to be issued as herein provided in anticipation of said special assessments tfhich remain unpaid has been ascertained and is hereby determined and found to be the summa of x64,251.343, the difference between said last two named amounts having been paid r by the property owners of said above"named streets whose property has been discharged from any further assessments for the cost of said improvements in the amount so paid, NOW THEREFORE, .13E IT ORDAINED by the Board of C omrai s s i oner s of the City of Salina, Kansas: Section 1. That the cost of such said improvements, after deducting therefrom the assessments heretofore paid thereon as aforesaid, including the cost of the improvement of the squares and areas formed by the crossings 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 in- stallment"of vihich is to be paid with the taxes for the year 1922 and one installment with the taxes for each suet.eeding year there- after until the whole amount thereof shall have been paid and that for such installments there shall be and are hereby issued Improve- ment Bonds of the City of Salina, Kansas" in the aggregate surhi of y�83,301.,90 as hereinafter provided; Section 2. Said issue of bonds shall consist of one (1) bond of the denomination of $301.90 and ten (10) bonds of the denomination of L300.00 each and one hundred sixty (160) bonds of the denomination of $500.00 each, said bonds to be numbered from one (1) to one hundred seventy-one (171) inclusive, all bear- ing interest at the rate of five per cent (5%) per annum, interest payable semi-annually upon the lst day of April and upon the lst day of October each year after the date of said bonds, which shall be dated April 1st, 1922 except the first interest payment on said bonds which shall be due and payable on the lst day of April 1923. Said bonds shall have -interest coupons thereto attached and said bonds shall become due and payable as follows: $8,601.90 on the lst day of April, 1923 and x;8,300.00 on the lst day of April in each succeeding year thereafter for a period of nine (9) years. Section 3. Said bonds shall be signed by the AJayor 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 shall be signed by said Clerk and both 11.7 118- 4 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 CI`tY OF SALINA NO. KNOW ALL MEN BY THESE PRESENTS, That ,the City of Salina in County of Saline and State of Kansas, for the value received hereby acknowledges itself to be indebted and promises to pay the sum of $ in lawful money of the United States of America on t e 16t.day of April A. D. 19 ,;with interest at the rate of five (5) per dent per annum, the first, installment of which shall be payable April 1st, 1923 and interest payable semi- annually thereafter 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 severally become due and payable.- Both principal and interestare payanle at the fiscal agency of the State of Kansas in. the City of 'Topeka, Kansas; and. the City of Salina, Kansas is held 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 their maturity. This bond is a series of bonds of like elate and tenor issued by the said City of Salina, Kansas to pay'for street im- provements in and for said City under and by the authority of and in compliance with the provisions of the laves 'of the State of Kansas governing cities of the first class, and in compliance with an ordinance duly and legally passed by the'Board of Commissioners of said City on the day of September 192,2. And it is hereby declared and certified that all acts, conditions and things required to be done and to exist precedent to and in the issuance of this bond', have beer' -properly done and performed and do exist in regular form as required by the -consti- tution and laves of the State of Kansas, and. ,that the total in- debtedness of said City including this series of bonds, does not exceed any constitutional or statutory limit, IN WITNESS WHEREOF', said -.City of Salina by its Board of Commissioners 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. 1922. Attest: Mayor. I City UrerlF. I Section 5.. The first interest coupon to be attached to said bonds shall be substantially as follows; : N0 On the lst day of April 1923, the City of Salina, Kansas will pay the bearer $ at the fiscal agency of the State of Kansas in the City oz Tope a, Kansas, the same being one year4s interest on its improvement bond dated April, Ist, 1922. The remaining; interest coupons to be Ilattached to said z j bonds shall be substantially as follotlfs: I On the NO. lst day of I the City of 1 1 1 1 �I 1 C. 1 1 08� y Salina, Kansas will pay to- the bearer 3" at the fiscal agency of. the State of Kansas, in 777 -Pty -77 Topeka, Kansas, the same being six month's interest on its improve- ment bond dated April lst, 1922. 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 as in this ordinance provided 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 lata, and shall be by the Mayor of said City delivered to the contractor or contractors constructing; such improvements in proportion to the amounts due such contractor or contractors in payment of the amount due them for such improve- ments or work; PROVIDED, however that such bonds shall not be sold or delivered to such contractor or contractors at less than par value thereof nor in a greater sum or amount than the whole amount due to said contractor or contractors under their respect- ive contracts with said City, or the Board of.Corzmissiovers 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. Section 7. Said Board of Gommissiovers shall make pro- visions. 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_ tape effect and be in full force from and after its publication once in the official City paper. Introduced for first reading, August 51st, 1922. Passed and approved........., Sept. 5th, 1922. R - S. Dyar (SEAL) Mayor, Attest: ti Chas. E. Banker, City Clerk. 2 STATE OF KANSAS SS COUNTY Or SALINE } T, Chas. E. Banker, City Clerk of the City .of Salina, Kansas, do hereby certify that.the above and foregoing is a true and correct copy of Ordinance Number 2585 passed by the Board of Commissioners and approved by the 11.1ayor of the City -of Salina, Kansas, September 5th, 1922; a record of the vote on its final adoption is found on Page q _ of!Journal No. 10. i Said Ordinance was published in The Salina :evening Journal .September 9th, 1922. 1 1 (First published in The Salina :Evening Journal 0 1922) ORDINANCE NO. An Ordinance providing for the issuance of Improvement Bond of the City of Salina, Kansas .in the sum of 483,301.90 to pay the cost of improving certain streets in said City. Vii IEREAS, in pursuance --of proceedings duly had according to lave, contracts have been let and performed for the curbing, guttering, excavating,, grading and paving of CRAWFORD AVENUE in the City of Salina, Kansas from the west line of Fifth Street to the east line of Santa Fe Avenue; R.EfUBLIC AVENUE in the City of Salina, Kansas from the east line of Fifth Street to the east line of Santa Fe Avenue; BOND STREET in the City of Salina, Kan- sas from the gest line of Fifth Street to the east line of Sarita Fe Avenue; OHIOSTRI TEET in the City of Salina, Kansas from the north line of Iron Avenue to the south line of Ash Street; BOND STREET in the City_ of .Salina, Kansas from the west line of Highland Avenue to the east line of Ninth Street; WILSON STREET in the City of Salina, Kansas from the east line ' of Santa Fe Avenue to the west line of Fifth Street; NINTH STREET in the City of Salina, Kansas -from the -south line of Republic Avenue to the north line of Jewell Avenue; EPUBLIC AVENUE in the City of Salina, Kansas from the west line of Highland Avenue to the east line of Ninth Street; REPUBLIC AVENUE in the City of Salina, Kansas from the west line of Santa Fe Avenue to the east line of Highland Avenue, and BAKER STREET in the City of Salina, Kansas from the so %th line of Walnut Street to the north. line of South Street therein, and iHEREAS, the total cost of said improvements has been ascertained and the portion thereof to be paid by a general tai: to be levied uporilall of the taxable property within said City for the improvement of squares and areas formed by the crossings 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 land found to be the sum of 019Ca,050,�.i'56� and, 0 11V`IEREAS, the portion thereof to be paid by special assess- ments levied upon the lots and pieces of ground liable therefor has been ascertained and is hereby found and determined to be the sum of $69,417.11 which said last amount 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 in- stallments 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 assess? -cents which remain unpaid has been ascertained and is hereby determined and found to be the sum of X64,251.34 the difference between said last two named amounts having been paid by the property owners of said above named streets whose property has been discharged from any further assessments for the cost of said improvements in the amount to paid; NOW THEREFORE, BE IT ORDAINED by the Board of Commissioners of the City of Salina, Kansas: Section 1. That the cost of such said improvements, after deducting therefrom the assessments heretofore paid thereon as aforesaid, including the cost of the improvement of the ,squares and areas formed by the crossings 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 for the year 1922 and one install- ment with the tares for each succeeding year thereafter until the whole amount thereof shall have been paid and that for such install- ments there shall be and are hereby issued Improvement Bonds of the City of Salina, Kansas in the aggregate sum of $83,301.90 as here- inafter provided; Section 2. Said issue of bonds shall consist of one (1) / t 32 35. /6 bond of the denomination of y301.90 and ten (10) bonds of the zaoc,vr/ / denomination of 0300.00 each and one hundred sixty (160) bonds ��o d of the denomination of $500.00 each, sa ids bonds to be numbered from one (1) to one hundred seventy-one (171) inclusive, all bear- ing interest at.the rate of five per cent (5a) per annum, interest payable semi-annually upon the lst day of April and upon the 1st day of October each year after the date of said bonds, which shall be dated April 1st, 1922 except the first interest payment on said bonds which shall be due and payable on the lst day of April 1923. Said bonds shall have interest coupons thereto attached and said bonds shall become due and payable as follows: P q6, X8,601.90 on the lst day of aril, 1923 and $8,300.00 on I the lst day of April 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 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: e UNITED.STATES OF AMERICA S TATE OF KANSAS CITY OF SALINA. • NO. KNOW ALL PLN BY THESE PRESENTS, That the. City of Salina in the County of Saline and State of Kansas, for value received hereby acknowledges itself to be indebted and promises to pay, the sum of in �w ul money of the United States of America on the 1st day of/Ap- A. D. 19with interest at the rate of five (5) per cent per annum, tie first installment of which shall be payable April 1st, 1923 and.interest payable semi-annually there- after until the principal sum shall have been paid; upon `the presenta- tion and surrender of the proper interest coupon hereto attached, bearing the signature of the Clerk of said City, as they severally become due and payable. 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, Kansas is held 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 inter- est of this bond upon their maturity. This bond is a series of bonds of- like date and tenor issued by the said City of Salina, Kansas 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 governing cities of the first class, and in compliance with an ordinance duly and legally passed by the Board of Coimnissioners of said City on the day of _ep tember 1922. And it is hereby declared and certified that all acts, condi- tions.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 form as required by the constitution and laws of the State of Kansas, and that the total indebtedness of said City includ- ing this 'series of bonds, does not exceed any constitutional or statutory limit. IN WITNESS WHEREOF, said City of Salina by its Board of Com- missioners has caused this bond to be signed by its Mayor and attest- ed by its Clerk and its corporate seal is hereto attached. 3 Dated this day of A. D. 1922.. Attest: Mayor C* clerko Section 5.' The first interest coupon to be attached to said bonds shall be substantially as follows: NO. On the lst day of April 1923, the City of Salina, Kansas will pay the bearer at the fiscal agency of the State of Kansas in the CiTopeka., Kansas, the same being one years interest on its improvement bond dated April, lst, 1922. Qk The remaining interest coupons to be attached'7to said bonds shall be substantially as follows: 0 NO. On the lst day of , 19, the City of Salina, Kansas will pay to the bearer at the fiscal agency of the State of Kansas, in the Cit- y off' Topeka, Kansas, the same being six month`s interest on its improvement bond dated April lst, 1922. 23 NO. City Clerk. Section 6. The Mayor and Clerk are hereby authorized, direct- ed and empowered without unnecessary delay, to prepare and execute said bonds and coupons as in this ordinance provided and when exe- cuted, said bonds shall be registered with the Clerk of the City of Salina, Kansas and with the Auditorof the State of Kansas, as required by law, and shall be by the Mayor of said City delivered to the contractor or contractors constructing such improvements in proportion to the amounts due such contractor or contractors in payment of the amount due them for such improvements or work; PROVIDED, however that such bonds shall not be sold or delivered to such contractor or contractors at less„than 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 Board of Commissioners 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. Section 7. Said Board of Commissioners shall make provisions for the payment of the principal and interest on said bonds as the same becomes 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 City paper•.: q' z ; '� Intrdduced for first reading Passed and approved A,ttest:` Ma/vor �� City Clerk:.