1696 Improvement Bonds(Published in the Salina Evening. Journal, r� � ! lgl2.)._
ORDINANCE NO.1& �Q
An Ordinance providing for the issuing ofImpr v ent Bonds in
the city of Salina, Kansas, in the ,sum of Q�V(V
to pay for the improvement of certain street IY_
:paid city.
WHEREAS, in pursuance of proceedings duly had according to
law contracts have been completed for the paving, curbing and
guttering of Seventh street in the city of Salina,.between the
south side of Walnut street a<.nd the nanAh side of Weil Plac a and
the total cost of said improvement has been ascertained and the
portion thereof to be paid by a general tax to be leviedupon all
taxab&b property within said city for the improvement 4fthe squares
and areas formed by the intersectionir of streets and.alleys and
for which bonds are to be issued as hereinafter provided, has
Veen ascertained and is hereby determined to be the sum of
and the portion thereof
to be paid by special assessment levied upon the lots and pieces of
ground .liable therefor has been ascertained to be the sum of
and said last named
amount has been heretofore duly assessed and apportioned to the
said several lots And pieces of ground on such street liable there-
for, payable in ten equal annual installments,' according to law
and as provided in Ordinance No.1685 of the city of Salina, and
the amount of said special assessments for which bonds are to be
issued, as herein provided, in anticipation of the.said special
assessments which remain unpaid has been ascertained. and is hereby
detdrmindd to be the sum of Z-/ ® '�
the difference between said last two named amounts having been paid
by the property owners on said Seventh street, whose property has
thereby been discharged from any further assessment for th4 cost
of said improvement in the amount so paid; and
WHEREAS, in pursuance of proceedings duly had and taken ac -
corning to law contracts have been performed for the paving, curb-
ing; and guttering of Weil Place in said city between the west line
of Seventh street and the'east line.of Fi.grth street and the total
cost of said improvements has been ascertained and the portion
thereof to be;paid by special assessments levied upon the lots and
pieces of ground liable therefor 1wo, been ascertained to be the sm
of and said last named
amount has been heretofore duly assessed and. apportioned to the
said several lots and.nieces of ground on such street liable there-
for, payable in ten equal annual installments, according to law and
as provided in Ordinance No.1685 of the city of Salina, and the
amount.of said special assessments for which bonds_.ar.e to be issued
as herein prnvided, in anticipation of the said special assessments
which remain unpaid has been ascertained and is�her.eby determined to
9
be the sum of / � , the dif-
ference between said last two named amounts having been paid by the
property owners on said. Weil Place, whose property has thereby been
discharged from any further assessment for the cost of said improve-
ment in the amount so.paid; and therefore,
Be it ordained by the Mayor and Councilmen of the city c:f Salina?
Section 1. That the cost of said, street 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., shall be paid
in ten equal annual installments instead of levying the Ontire
cost at one time, the first installment to be paid with the taxes
of 1913 and one installment with the taxes for each succeeding year
thereafter:until the whole are paid, and that for such installments
there shall be and are hereby issued Improvement Bonds of the city
of Salina, Kansas, in the aggregate sum of �0�00
Dollars, as hereinafter provided.
Sec. 2. Said issue of bonds shall consist of ten (10) bonds
of the denomination of $ /400 - each and ten (10) bonds of the
denomination .of $ ��'J v each, y
from one to Z10 inclusive, all
bearing interest at the rate of five (5%) per cent per annum, pay-
able January ltt and July 1st each year.with interest coupons at -
torched to said bonds and
shall become
due
and paybble as
follows,
to-wit:M$ ��®® ® ®n
the first day
of
January, 1914
and
on the first day of January in each and every year thereafter for a
period of nine years,
Sec. 3. Said bonds shall be signed bj. the Mayor and attested
izy the clerk of said city and shall have the corporate seal of said
city attached thereto and the interest coupons to said bonds shall
be signed by the clerk and both tionds' and coupons shall be payable
at the fiscal agency of the State of Kansas, in the city of Topeka
in said State.
Sec. 4. Said bonds shall be executed in the form and shall con
tain recitals substantially as follows:
UNITED STATES OF AMERICA.
STATE OF KANSAS.
CITY OF SALIN A.
KNOW ALL MEN 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 to the bearer
the sum of..,................in lawful money of. the United States of
America, on the farst clay of Januaryn 1�':.`, with interest thereon at
the rate of five (5) per cent per annum, payabl.e..semi-annually on
the first days of January and july of each year after the date there
of until the principal sum shall have been paid,.u_pon the presenta-
tion and surrender of the proper interest coupon itetd attached
bearing the signature of the clerk of said city., as they severally
become due, and both principal and interest are payable at the fiscbl
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 credt
and all real and personal property in said city are hereby pledges
for the prompt payment of the principal of this bond and the Inter-
est at maturity.
This bond is one of a seribs of bonds of like date and tenor
issued. by said city of Salina to pay for street improvements in and
for.said city under and by authority of and in compliance with the
provisions of the laws of .the State of Kansas goverining cities of
the second class, with less than, ten thousand inhabitants, and in
compliance with an ordinance duly and. legally passed by the mayor
and council on the 16th day of December, 1912.
And it is hereby delcared and certified triat.all acts, con-
ditions axedthings 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
aid laws of the State of Kansas, and that the total indebtedness of
said city, including this series of bonds, does.not exceed any con-
stitutional or statutory limitations.
IN WITNESS W11 0F, said city of Salina. by its Mayor and
Council„ has caused this bond to be signed by .its mayor and, attested
by its clerk, and its corporate seal to be hereto .affixed. andthis
bond to be dated on the first day of' January 191,3.
...... ................Mayor
Attest:
.. .. . ...... .... .............City Clerk. -
Seg.. .The interest coupons to be attached to said bonds
shall be substantially in the following form:
INTE,REST COUPOR.
On the first day of. ............... .. 19... the city of
Salina, Kansas, will pay to.the bearer ....... ............ Dollars
at the Fiscal Agency of.the.State of Kansas, in the city of Topeka,
Kansas, being six months interest on its Improvement Bond. dated
January ist, 1913, No .................
.......:.City Clerk
Sec. 6. The mayor and city clerk are 'Yi,ereby authorized 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 city clerk of the city of Salina., with the
county clerk of Saline county, Kansas, and with the Auditor of State
of the state of Kansas, as required by law, and shall be by the may(r
of said city delivered to the contractors constructing such improve-
ments, ;in proportion to the amounts due such cotr actors respectively,
in payment of the amounts due them for such work and improvement;.
Provided, however, that such bonds shall not be sold or deliveted to
such contractors at less than their par value nor in a greater sum
a
or amount than the whole amount due.and owtmg tbkd contractors under
their respective contracts; or, the mayor and council may sell said
bonds at not less than their par value, and.out of the proceeds
thereof pay said contractors for said work and improvements; and
that the mayor.and council shall.annually make provision for the pay-
ment of the principal and interest on said bonds.,..as they severally
become due, by levying a tax on the property liable therefor.
Sec. 7. This ordinance shall. take effect and. be in force from
and after its publication once in the Salina Evening; Journal.
Passed and approved December 16th,1912.
I�Aj May arr
Attest:
City Clerk
.