1098 Issue Sewer Improvement Bonds0�',DINAI�?CF O. ,.
.An ordinance providing for the issue of sewer improvement bonds of the
Cite of Salina, Kansas, in the sign of $700.00.
Whereas, the Mayor and Council of said city,have caused to be
built and constructed certain sewers in said city, the contract price of
which exceeds $700.00; therefore,
- --- Be it ordained- by.' -the Mayor, and -Councilmen of the City of Salina: -
Section 1. That the cost of said sewers shall'be payable in five
installments, instead of levying the entire. prast tax for such cost at one
time, th6 first installment to•be p=aid with the taxes for the year 1902,
and one installment with the taxes of each succeeding year until the
whole are paid, and that for such installments 'there be issued improve-
went bonds of said city in the sum of $700.00, as hereinafter provided.
' Sec. 2. Said issue shall consist of five bonds of the denomina-
tion of One Hundred forte (140) Dollars, shall be dated October 1, 1901,
and shall be due and payable iii five'equal annual install ents, on Octo-
ben L,,i* each year, beginning .,rith'_October 1, 1902.
Sec. 3. Said bonds akk shall bear interest at.therate of five
(5 ) per cent per annum from their date, .payable, seihi=annpaily on the first
days of October and April in each ,year, and the several installments of
interest shall be evidenced ; by"corUp`oirs'=a t°tachP�d--�-to--•sa:id hon -ds- -- and both
princip�.l and interest shall be payable as they become due at the Fiscal
Agency of. the State of Kansas, in the City of Yew York, State of Yew York.
,.,Sec'. 4...- -. Said__bonds, ahall be signed by .. the Mayor _ .rid countersigned
by the Clerk of said 'city and hate ---affixed thereto- the--_corp;o.r..ate seal of,
said city, and said interest coupons shall be signed by 'said clerk.
Sec. 5. The Mayor and Clerk of said city are hereby authorized
and directed, as soon as practicable, to prepare and execute said bonds,
therein pledging the credit of the city for the payment thereof, and when
executed said,tibonds shall be delivered to the contractor constructing such
sewers,- in full payment and satisfaction of the cost of constructing the
Same
This ordinance shall take elfect and be in force- from and
after•.,its:.publication once in the, Salina Daily Republican. -Journal.
Passed and approved: October 21, 1901.
Attest"�� /
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