2566 Renew Temporary Notes PT-53RESOLUTION NUMBER 2566
A resolution authorizing and providing for the issuance of renewal temporary
notes of the City of Salina, Kansas, in the sum of $278,881.02 for the purpose of
renewing certain temporary notes heretofore issued for the purpose of constructing
certain street, sewer and sidewalk improvement in said city.
WHEREAS, pursuant to proceedings duly had by the City of Salina, Kansas,
under section 12-6a01 to et seq. G. S. 1959 Supp. and acts amendatory ,and
supplemental thereto, certain street, sewer and sidewalk improvements have been
authorized in said City, and -
WHEREAS, the cost of construction said improvements has.been f inanced.by,
the issuance of temporary notes as provided by law, pending the issuance of
bonds, and -`
WHEREAS, eleven such notes have been heretofore issued, being numbered, in
the denomination and being dated as follows:
Number
Denomination
Date
1
$19,052.02
October
4, 1960
2 - 9
$25,000.00
October
4, 1960
10
$29,829.00
June 6,
1961
11
$30,000.00
June 6,.1961
all of said notes being designated as Temporary Notes, Series PT -53, notes numbs
1 to 9 inclusive, bearing interest at -the rate of four per cent (470) per annum
and notes numbered 10 and 11 bearing interest at the rate of three and one half
per cent (31%) per annum, said interest being payable at maturity and said notes
will mature and become due,on December 1, 1961, and
WHEREAS, the issuance of bonds to finance said -improvement and to retire
said temporary notes has been delayed beyond the stated maturity of said notes
because engineering dificulties have prevented the completion of the improvements
before the maturity of said temporary notes, and
WHEREAS, Section -10-'123 G. S. 1959 Supp, provides that said notes may under
said circumstances be taken up and renewed and the Board of Commissioners of said
City hereby finds that it is necessary to take up and renew said notes,
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the City of
Salina, Kansas, as follows:
Section 1. That the foregoing preambles are hereby made a part of this
resolution.
Section 2. That in order to provide funds with which to take up and renew
the Temporary Notes, Series PT -53, numbered -1 to 11, inclusive,_hereinbefore
described, there shall be issued and hereby are issued Renewal Temporary Notes,
Series PT -53 -A of the City of Salina, Kansas in the aggregate amount of $27.8,881.
consisting of eleven notes in the denomination as follows:
Number 1: $28,881.02
Number 2: $25,000.00
Number 3: $25,000.00
Number 4: $25,000.00
Number 5: $25,000.00
Number 11:
Number 6: $25,000.00
Number 7: $25,000.00
Number 8: $25,000.00
Number 9: $25,000.00
Number 10: $25,000.00
$25,000.00
all of said notes shall be dated November 15, 1961 and shall bear interest at the
rate of three and one half per cent (31%) per annum, payable at maturity. Said
notes shall become due on or before December 1, 1962 and shall be redeemed and
cancelled before or at the time bonds are issued in lieu thereof. Said notes
may be called for edemption and payment at par plus accrued interest upon
written notice to the holders thereof or by publication offsaid notice once in a
newspaper of general dirculation in said City at least seven days before the date
of such redemption.
Section 3. Said notes shall be executed by the Mayor and by the City Clerk
and the corporate seal of said City shall be affixed thereto and shall be payable
at the Office of the City Treasurer of the City of Salina, Kansas. Said notes
shall be registered in the Office of the City Clerk and the Office of the State
Auditor of Kansas and when so executed and registered shall be sold and delivered
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in accordance with the further resolution of said Board of Commissioners and the
proceeds of said notes shall be used for the sole purpose of paying the cost of
taking up and renewing the temporary notes hereinbefore described.
Section 4. Said notes shall constitute valid and legally binding general
obligations of said City in accordance with the provisions'of Section 10-123
G. S. 1959 Supp. and the full faith, credit and resources of the City of Salina,
Kansas, shall be and the same are hereby irrevocably pledged for the prompt
payment of said notes and the interest thereon at maturity.
Section 5. Said notes shall be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
RENEWAL TEMPORARY NOTE
$ Series PT -53-A No.
KNOW ALL MEN BY THESE PRESENTS: That the City of Salina, in the County of Saline,
State of Kansas, acknowledges itself to be indebted and for value received
promises to pay the bearer the sum of
Dollars in lawful money of the United States of America, on the First day of
December 1962, with interest thereon from the date thereof at the rate of three
and one half per cent (31%) per annum, payable at maturity thereof, both principal
and interest of this note being payable at the Office of the City Treasurer of
the City of Salina, Kansas; and the City of Salina, Kansas, is held and firmly
bound by these presents and its faith and credit are hereby irrevocably pledged
for the prompt payment of said principal and interest at maturity. Said City
may callthis note for payment at any time before maturity at par plus accrued
interest by serving written notice to that effect on the holder of this note or
by publication once in a newspaper of general circulation in said -City at leasXt
seven days before the date fixed for such redemption, and interest on this none
shall cease on.such-date, e
This note is one of a series of eleven notes of like date and tenor, except
denomination, aggregating the principal sum of $278,881.02 issued by the City of
Salina, Kansas, for the purpose of providing funds with which to take up and
renew certain temporary notes, series PT -53 heretofore issued for the purpose
of constructing certain street, sewer and sidewalk improvements in said City by
the authority of and in full compliance with the provisions, restrictions and
limitations of the Constitution and laws of the State of Kanaas, including
Sec. 12-6a01 et seq. 1959 Supp. and acts amendatory and supplemental thereto,
and all otherprovisions of the laws of said State applicable thereto and this
note and interest thereon are to be paid by the City of Salina, Kansas..
nd it is hereby declared and certified that all acts, conditions and things
equired to be done and to exist precedent to and in the issuance of this note -
ave been properly done and performed and do exist in due and regular form and
anner as required by the Constitution and laws of the State of Kansas, and that
he total indebtedness of said City, including this series of notes, does not
xceed any consitutional or statutory limitation.
IN WITNESS WHEREOF, the City of Salina, Kansas, has -executed this note by
causing it to be signed by its Mayor and its corporate seal to be affixed thereto
this Fifteenth day of November 1961. -
Mayor
Ittest:
City C ler
STATE OF KANSAS ) . - .
SS
COUNTY OF SALINE ..)
I, the undersigned; City Clerk -of the City of Salina, Kansas, hereby certify
that this Renewal.Temporary Note, Series PT-53-A.,.-has,been.registere0 in:'ny -office
WITNESS my hand and official seal this
City Clerk
STATE OF KANSAS )
) SS
COUNTY OF SHAWNEE )
I, the undersigned, State Auditor of Kansas, hereby certify that the
within Renewal Temporary Note, Series -PT -53-A, of the City of Salina, Kansas has
been filed in my office and that this note was registered in my off i-ce according
to law this
WITNESS my hand and official seal.
State huditor of Kansas
By
Director of Post Audits
Section 5. This resolution shall be in full force and effect from and
after its adoption.
Introduced: November 14, 1961
Passed: November 14, 1961
R. ,,W. Bull
Mayor
Attest:
City Clerk
STATE OF KANSAS )
SS
COUNTY OF SALINE )
I hereby certify that the above.and foregoing is a true and correct copy of
Resolution Number 2566,p4ssed by the_Board of.Cmmmissioners of Salina, Kansas
November 14, 1961.
City Clerk
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