1254 Sewer Improvement Bond--
--q ) 1905.)
(Published in the Salina Evening Journal Jan.—z2--
ORDIMANCE NO. YZg�=C�—
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An ordinance providing for the issue of sewer imDrovem-ent bonds of the
city of Salina, Kansas, In the sum of 418,500-00.
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Whereas, the Mayor -and Council of said city have caused to be
built and constructed certain: sewers and drains in said city, the contract
price of which exceeds eighteen thousand five hundred (18,500) dollars,
therefore,
Be it ordained by the Tdayor and Councilmen of the city of Salina:
Section 1. That the cost of said sewers and drains shall be paid
in ten installments, instead of levying the entire tax for such cost at
one time, the first installment to be paid with the taxes for the year
1905, and one installment with the taxes for each succeeding year until
the whole are paid, and that for such instalLnents there be issued sewoer-
improvement. bonds of said city in the sum of eighteen thousand five hun-
dred (18,500) dollars, as hereinafter provided.
Sec. 2. Said issue of,bonds shall consist of ten (10) bonds of
the denomination of one thousand (1,000) dollars each, and ten (10) bonds
of the denomination of eight hundred fifty (850). dollars each, shall be
dated January 2, 1905, and shall be due and payab-le--in ten (10) equal
annual installinent s , on. January 2 each year, beginning with January- 2,
1906.
Sec. 3. Said bonds shall bear interest at the rate of five (5)
per cent per annum from their date, payable semi-annually, on the 2nd
days of January and July in- each year, and the several installments of
interest shall be evidenced by coupons attached to said bonds, and both
principal and interest shall be payable at the Fiscal Agency of the
State of Kansas, in the city of New York, State of New York -
Sec. 4. Said bonds shall be signed by the mayor and countersigned
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by the. clerk of said city and have affixed thereto the corporate seal of
said city, and said interest coupons shall be signed by sadd clerk.
See. 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 bonds shall be delivered to the contractor constructing,
said sewers and drains in payment and satisfaction of the same; Provided,
That such contractor shall repay to the city. of Salina all sums of money
heretofore advanced by said city to said contractor on account of such
sewer -construction.
Sec. 6. This ordinance shall take affect and be in force from
and after its Dublicat-ion. once in the Salina Evening Journal.
Passed and approved, Jan. / & , 1905.
Attes Rayor.
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