1073 Issue BondsORDINANCE NO.
An Ordinance
AProviding f or the issue of bonds for the City of Salina, Kansas
in the sum of .$2,000.00 to compromise and refund certain existing bonded
indebtedness of said city in that amount.
'Whereas, the City of Salina, Kansas, has certain.,bonded indebtedness
in the sum of $2000.00 heretofore legally created and which is a valid
and binding obligation of said city, and which bonds have all been issued
.;..and_ outstanding more than two years; and
T{1'. .
W-iereas, a compromise has been agreed upon between said city ari`d.,
the owner and holder of said bonds for refunding said indeb.tedness at a
reduced rate of interest, therefore
Be it ordained by the Mayor and Councilmen of the City of Salina,
Kans,.s,
Sec.l. That for the purpose of refunding said above mentioned
indebtedness in the sum of 42,000.00 according to said, compromi'se.�`•agree-
mentnew bonds of_said city in the sum of $2,000.00 be issued as here-
i'nvif.t:er provided, under authority conferred and in the manner provided in
act of the legfnslature entitled "an act to enahle' counties, municipal
,corporations, the boards of education of nJFI city and school districts
to ..refund their' indebtedness", which took effect March I0, 1879, as
amended.
Sec.2. Said bonds shall be of the denomination of500oo,hum-
bered consecutively from 1 to 4�inclusive, dated February 19 190I, and
shall become due and payable twenty years after tl�e date thereof,. .
Sec.3. Said bonds shall bear interest at the rate of five per cet
cent per annum from d<-Lte, payable semi-annually, on the first dayaof
February and August in each year, and the several installments of inter-
est shall_ be evidenced by coupons attached to said bonds, both principal.
and i.nterest''sh.all be pa able as they become due at the ~Fiscal Agency of
the State of..Kansa.s, in the City of New York.
S.ec.4.= Said bonds shall be signed by the Mayor.and attested by
the city clerk under the seal, of the city and said interest coupons shall
be signed by said Mayor and Clerk.
Sec.5. The Mairor and" clerk of said city are hereby authorized
and'directed so soon as practicable to prepare and execute said bonds
therein pledging the faith and credit of said city for the payment there-
and after its.publication once in the "Salina Daily Republica -Journal.”
1 Passed and approved
Mayor.
At, tes`'
P�'�#� �f A� Fri '.' 'i .h'.t �,. . y ✓d i 1t111 i.•-
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15
J. and, when said tonds shall have been "execu�ea 'and
registerr.eci Eby tYl'e:
city `1clerk, the county .clergy and the• Audi tor+of 'Stati;e
of ;',t lie, Stag of
,Kansa:s, .grid c6rtiJ.ied °by fhe Auditior of,'Stat°e they. Shall be deIixered.
to tie owner. and holder, of the ,said lndObtecdhess,Yin puraljance
of„tlle term9
of said compromise
Sec. 6. The' re shall. he levidd.. arK u.ally at the
time of making the
levy of other 'taxes, a tax sufficient in amount do pay
the interest upon
said bonds and the coupons as they become due and to
create a sinking
fund as provided for in said. act of Tarch 10187.9 as
amended for the
payment of the principal of said bonds, tgrhicYi shall be
collected with
other t, es` end paid into the treanury as' .provided by
law for other. tare§
Sec.` -7. That Ordinance No. 1033, passed and approved July 16,
1900, be and the same is hereby repealed.
Sec. 8. This ordinance shall take effect and be in force from
and after its.publication once in the "Salina Daily Republica -Journal.”
1 Passed and approved
Mayor.
At, tes`'