1828 Issue Improvement BondsITPAY
ORDINANCE NO. 1828.
(Published in the Salina.Evening Journal April % , 1915.)
239
An ordinance providing for the issuing of improvement Bonds of
the City of Salina, Kansas, in the. sum of $22,600*.00, to pay the cost
of improving, certain streets in said city.
WHEREAS, in pursuance of proceedings duly had according to law
contracts have let and performed for the paving, curbing, guttering and
excavating of Walnut Street, in the city of Salina, Kansas, between the
west side of the bridge crossing the Smoky Hill River on said street
and the east .line of Fifth Street,. and between the west line of Tenth
street and the east line of College avenue, and 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 taxable property within said city
for the improvement of the squares and areas formed by the crossing of
streets and alleys, and for city property., and for which bonds are to
be issued, as hereinafter provided, has been ascertained and is hereby
determined to be the sum of $8,069.66, and 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 determined to be
the sum of $19,535.77, 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 therefor, payable in ten equal installments
according to law and as provided in Ordinances No. 1800 and 1801 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 said
special assessments which remain unpaid has been ascertained and is
hereby determined to be the sum of 14,530.34, the difference between
said last two named amounts having been paid by the property owners on
said Walnut street, whose property has thereby been discharged from any
further.assessments for the cost of the said improvements in the amounts
so paid; therefore,
Be it ordained by the Mayor and Councilmen of the City of Salina:
Section 1. That the cost of said street improvements, after de-
ducting therefrom the assessments heretofore paid thereon as aforesaid,
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 to be paid with the taxes for,
the year 1915 and one installment with the taxes of each succedding 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 Twenty-two Thousand SIX Hundred
Dollars (22,600.00) as hereinafter provided.
II I Sed. 2. Said issue of bonds shall consist of forty (40) bonds of
0
the denomination of $500.00 each.and ten (10) of the denomination of
$260.00 each, numbered from 1 to 50, inclusive, all bearing interest
at the rate of five per cent (5%). per annum, payable April 1st and
October 1st of each year after the date of said bonds, whcih shall be
April 1st, 1915,.with interest coupons attached to said bonds, and said
bonds shall become due and payable as follows, to -wit: $2,260.00 on the
first day of April, 1916, and $2260.00 on the first day of April in
each and every year thereafter for a period of nine years.
Sec. 3. Said bonds shall be signed by the mayor and attested by
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 said clerk., and both bonds 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 PJdERICA
STATE OF KANSAS,
CITY OF `_SALINA ,_, .
No.
KNOW aLL MEN BY THESE PRESENTS, That the City of Salina, in the
county of Saline, and State of Kansas, for value received, hereby ac-
knowledges 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 first day of April, 191 . , with interest thereon at the
rate of five per cent per annum, payable semi-annually on the first days
of October and April of each year after the date thereof until the prin-
cipal 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 both princi-
pal and interest are payable at the Fiscal Agency of the State of Kan-
sas, in the city of Topeka; and the city of Salina is held and firmly
bound, and its faith and credit and all real and-,1personal property in
said city are hereby pledged for the prompt payment of the principal
of this bond and the interest at maturity.
This bond is one of a series of bonds of like date and tenor is-
sued by said. City of Salina to pay for street improvements in and for
said city under and by authortity of and in compliance with the provis-
ions of the laws of the State of Kansas governing cities of the second
class,and in compliance with an ordinance duly and legally passed by
the mayor and council of said city on the 5th day of April, 1915"
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 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, includ-
ing this series of bonds, does not exceed any constitutional or statu-
tory limitations.
IN WITNESS WHEREOF, said. City of Salina, by its Mayor and Coun-
cil, 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 on the first day of April, 1915.
Attest:
............................
Mayor.
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TPAY
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Sec. 5. The interest coupons to be attached to said bonds
shall be substantially in the following form.
No..
INTEREST COUPON.
6
On the first day of , 19 , the City of Salina,
Kansas, will pay to the bearer dollars at the Fiscal Agen-
cy of the. State of Kansas, in the city of Topeka, Kansas, being six
months' interest on its Improvement Bond dated 1st, 1915.
No.—
...............
o.
............... 00 . . . . . . . . . . . . . .
City .Clerk.
Sec. 6. The mayor and clerk are hereby authorized and directed,
without unnecessary delay, to prepare and execute said bonds and cou-
pions, as in this ordinance provided, and that when executed said bond
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 Kansas, as required by law, and shall be by the mayor of said
city delivered to the contractor or contractors constructing such im-
provements, in proportion to the amounts due such contractors, respect-
ively, in payment of the amount due them for such work and improvements;
Provided, however, that such bonds shall not be,sold or delivered to
such contractor or contractors at less than their par value nor in a
greater sum or amount than the whole amount due and owing said contract-
ors under theur 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 said contractors for said work
and improvements; and that the mayor and council shall annually make
provision for the payment 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 April 5th, 1915.
(SEAL)
Attest:
Chas. E. Banker,
City Clerk.
STATE OF KANSAS )
COUNTY OF SALINE ) SS.
CITY OF- SALINA )
V• E. Niquette.
Mayor.
I hereby certify that the above and foregoing
is a true and correct copy of an ordinance passed by the Council and
approved by the Mayor of the City of Salina; April 5th, 1915; and a re-
cord of the vote on its final adoption is found on page/,Z J of Journal
City Clerk.
west side of the bridge crossing the Smoky Hill River on said street
and the east line of Fifth street, and between the west line of Tenth
street and the east line of College avenue, and the total cost of said