1318 Street Improvements Tenth StreetORDIffAINCE NO,.
An ordinance providing for the issue of paving and curbing improvement
bonds of the City of Salina, Kansas, in the sum of
1&Z.dZZ.
77HERE AS, the Mayor and Council of said. City have caused to be
paved and curbed, Tenth Street between Iron Avenue and7talnut Street, in
said City, the contract price being of which
said amount has been paid in cash; therefore,
Be it ordained by the Mayor and Councilmen of the City of Salina: -
See. 1. That the balance of the cost of said paving and
curbing shall be paid in ten installments, instead of levying the entire
tax for such 4&mat one time, the first installment to be paid with
the taxes for the year 1906, and one installment with the taxes of each
succeeding year, until the whole are paid, and that for such installment
there be Assued paving and curbing improvement bonds of said City, in
the s= of I
as hereinafter provided.
See. 2. Said issue of bonds shall consist of :&4m bonds of the
denomination of hundred dollars each, and shall be
dated June 170 1906 . and shall be due and payable in ten •0xj**R- annual
installments on June 17th. of each year, beginning with June 17, 1907.
See. 3. Said bonds shall bear interest at the rate of 5% per
annum, from their date, payable semi-annually on the 17th. day9of June and
December in each yearg 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 Kansasp
in the City of New York State of New York.
by
See. 44 Said bonds shall be signed the Mayor and countersigned
by the Clerk of said City, and have affixed thereto the corporate seal
of said City, and said interest coupons shall be signed by said Clerk.
See. 5. The Mayor and Clerk of said City are hereby authorized
and directed, as soon as practible, to prepare and execute such bonds
therein pledging the credit of the City for the payment thereong and when
executed, said bonds shall be delivered to the contractorjeonstructing
said paving and curbing in payment and satisfaction of the sw-,ie; providing
that prior to. -the delivery of said bondstosaid contractor, if the Mayor
( over .t
and ;Clerk shall be able to sell thesame at a premium, then they shall
sell such bonds, and pay said contractor in cash.
See. 6. This ordinance shall take effect and be in force from
and after its publication once in the Saliba Daily Union.
Passed and approved, July 19p6. ^�
May or .
Attest: -
City C k