2567 Renew Temporary Notes299
A Resolution author.izing.and providing for the issuance.of-renewal temporary
notes of the City of Salina, Kansas, in the sum of $396,729.30 for the purpose
of renewing certain temporary notes heretofore issued for the purpose of
constructing certain street improvements in said city.
WHEREAS, pursuant to proceedings duly had by the City of Salina, Kansas,
under Section 12-601 to 12-608, inclusive Section 13-1011 and 13-1011a G. S.
1949 and acts amendatory and supplemental thereto, certain street improvement
have been authorized in said city, and
WHEREAS, the cost of constructing said improvements has been financed by
the issuance of temporary notes as provided by law, pending the issuance of
bonds, and
WHEREAS, sixteen such notes have been heretofore issued, being numbered, in
the denomination and being dated as follows:
Number Denomination Date
1 $27,163.00 January 3, 1961
2 - 9 $25,000.00 January 3, 1961
10 $19,566.30 June 6, 1961
11-16 $25,00.0.00 June 6, 1961
all of said notes being designated as Temporary Notes, Series PT -54 all of said
notes bearing interest at the rate of three and.one. half.per cent (31%) per
annum, said interest being payable at maturity and sale notes will mature and
become due on December 1, 1961, and
WHEREAS, the issuance, of binds -to -finance said improvements. and .to retire
said -temporary notes has been delayed..beyond -the;-stated maturity_ of said notes
because engineering difficulties�have-_-prevented the.:completion of the improvements
before the maturity of said temporary notes, and.
WHEREAS, SECTION 10-123 G.- S-1,959 Supp., provides that.s.aid,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-54,.-numbered..l to 16 inclusive hereinbefore
described, there shall be issued and hereby are issued.Renewal Temporary Notes,
Series PT -54-A, of the City of Salina, Kansas, in the aggregate amount of $396,729.30
consisting of sixteen notes in the denomination as follows:
Number 3; $21,729.30 Number 5: $25,000.00 Number 9: $25,000.00
Number 2: $25,000.00 Number 6: $25,000.00 Number 10: $25,000.00.
Number 3: $25,000.00 Number 7: $25,000.00 Number 11: $25,000.00
Number 4:, .$25;000.00 Number 8:-.$25,00.0.00 _Number 12:s $25,000.0.0
Number 13: $25,000.00
Number .14.: $25,000.00
Number 15: $.25.; 000.00:
Number 16.':-$Z5,'000;.,00:'::
all of said notes shall:be,dated November 15,.19.61 and shall bear interest at the
rate of three and one half percent (31%)-perannum,payable at. ma.turit.y.. 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 redemption and payment at par plus accrued interestupon written
notice to the holders thereof or by publication of said notice once in a news-
paper of general circulation 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
in accordance with the further resolution ofdsaid 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 -54 -A No.
KNOW ALL MEN BY THESE PRESENTS: That the City of Salina, in the County of Saline
State of Kanaas, acknowledges itself to -be indebted and for value.received
promises to pay the bearer the sum of
Dollars in lawfulmoney 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 beingpayable 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
call this note for payment at any time before maturity at par plus accrued interes
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 least
seven days before the date fixed for such redemption, and interest on this note
shall cease on such date.
This note is one of a series of sixteen notes:of.like date and tenor, except
denomination, aggregating the principal sum of $396,729.30 issued by the City of
Salina, Kansas, for the purpose of providing funds with which to takeup and renew
certain Temporary Notes, Series PT -54 heretofore issued for the purpose of,
constructing certain street 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 Kansas, including Sections 12-601 to 12-608
inclusive, Section 13-1011 and 13-1011a G. S. 1949 and acts amendatory and
supplemental thereto, and all other provisions of the laws of said State applicabl(
thereto and this note and interest thereon are to be paid by the City of Salina,
Kansas.
And it is hereby declared and certified that:all acts, conditions and things
required to.be done and to exist precedent to and in the issuance of this note
have been properly done and performed and.do.existq in due and regular form and
manner as required by the Constitution and laws of the State of Kansas, and that
the total indebtedness of said City, including this series of notes, does not
exceed any constitutional 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
15th day of November 1961.
Attest:
City- Clerk
City Clerk
1
1
1
211
TATE OF KANSAS j' _....
- )' 'SS
OUNTYOF SALINE )
I, the undersigned, City Clerk of the City of Salina, Kansas, hereby certify--
that
ertifythat this Renewal Temporary Note, -;Series -PT -54=A, hats been .registered in my.:office.
WITNESS my -.hand and official • seal. this
City Clerk
TATE OF KANSAS
SS, .
OUNTY OF SHAWNEE )
I, the undersigned, State Auditor of.Kansa's,-hereby certify that the within
Renewal Temporary Note, Series PT -54-A', of the City of.Salina., Kansas, has been
fled in my.office and that this.!note.was:registered in: my:office accordint to
law3this
WITNESS my hand • and : official . seal . = - --
StateAuditor of Kansas
By
Director of.Post=Audits
Section 5.rs This resolution:shall:be: in.,full•force.and::ef.fect.from: and -after
its adoption. = -
-Introduced: November: 14,.1961
Passed: November 14, 1961
TATE, OF KANSAS
SS
OUNTY OF SALINE )
I.:hereby certify that the above and foregoing is -a true:•and correct,copy.of
esolution Number 2567 passed by the Board of Commissioners. of Salina,Kansas
ovember 14, 1961. _-
City Clerk