2304 Issue Temporary Notes PT-43181
RESOLUTION NUMBER 2304
A RESOLUTION authorizing and providing for the issuance of Temporary Notes
of the City of Salina, Kansas, in the sum of $76,239.14 to pay a portion of
the cost of improving certain streets in the City of Salina to be designated
as Series PT -43 pending the issuance of bonds to pay the cost of said work.
WHEREAS, pursuant to proceedings duly had according to law, contracts have
been let and partially performed for the construction of certain street
improvements in the City of Salina, Kansas, as provided by Resolution Numbers
2162, 2175 and 2178 and Ordinance Number 6356, all of which resolutions and
_ordinances are incorporated herein by references as fully as though set out
here in full; and
WHEREAS, the total estimated cost of said improvements if $88,796.40; and
WHEREAS, approved estimate number 1 is now on file in the Office of the City
Clerk establishing that the Brown and Brown Construction Company has partially
performed the construction or contract thereof, and is entitled to receive
the sum of $76,239.14 for such partial performance; and
WHEREAS, pending the issuance and sale of bonds to pay the cost of said
improvements it' is necessary for said city to issue its temporary,note to
acquire funds to pay said contractor for such work; and SO NOW THEREFORE
BE IT RESOLVED by the Board of Commissioners of the City of Salina, Kansas:
That the foregoing preambles are hereby made a part of this resolution.
That pending the issuance and sale of bonds to pay the cost of said
improvements, the City of Salina shall issue its temporary notes, dated
sum less than the aggregate amount of bonds to be and now unissued, as
supported and shown by the approved estimate now on file and in denomination
as follows:
Number 1; $46,239.14
Number 2; $30,000.00.
That said temporary notes shall be signed by the Mayor and shall be
attested by the signature of the City Clerk and the corporate seal of the
City shall be affixed thereto and that -said temporary notes shall be register
in the Office of the City Clerk.and in the Office of the State Auditor as
required bylaw.
That said notes shall be designated as Series PT -43 and each shall be
in the form and contain recitals substantially as follows to -wit:
January 26,
1960 bearing interest
at
the
rate of
four per cent per
annum,
maturing not
later than December
1,
1960
in the
sum of $76,239.14
being a
sum less than the aggregate amount of bonds to be and now unissued, as
supported and shown by the approved estimate now on file and in denomination
as follows:
Number 1; $46,239.14
Number 2; $30,000.00.
That said temporary notes shall be signed by the Mayor and shall be
attested by the signature of the City Clerk and the corporate seal of the
City shall be affixed thereto and that -said temporary notes shall be register
in the Office of the City Clerk.and in the Office of the State Auditor as
required bylaw.
That said notes shall be designated as Series PT -43 and each shall be
in the form and contain recitals substantially as follows to -wit:
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
TEMPORARY NOTE
Series No.
KNOWN 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
19 , with interest thereon from the date
thereof at the rate of per cent per annum, payable at
maturity thereof, both principal and interest fif 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 f iath and
credit are hereby irrevocably pledged for the prompt payment of said principal
and interest at maturity. The said city may call this note for payment at any
time before maturity by ser -ring 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 of such call, and may redeem this note
on .the date, of such call for the amount of the principal and interest accrued to
that date and interest shall cease on such date.
This note is one of a series of notes of like date and tenor,
excepting denomination, aggregating the principal sum of
ISSUED BY THE City of Salina, Kansas, for the purpose of paying a part of the
cost of construction of certain curbing, guttering, paving and grading
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 10-101 to 10-115, 10-123, 12-601 to 12-608,
12-6a01 to 12-6a17, 13-1011, and 13-1011-A General Statutes of Kansas, 1949 and
such sections as amended, and all other provisions of the laws of said state
applicable thereto, all pending the issuance of bonds of said city to pay the
cost of said work, and this note and interest therein to be paid by the City of
Salina, Kansas.
And it is hereby declared and certified that all acts, conditons 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 exist 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 constitutional or statutory limitations.
IN WITNESS WHEREOP, 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
19
Attest:
City Clerk
State of Kansas, County of Saline: SS
I hereby certify that this temporary
note has been registered in my office.
Date
City Clerk
Mayor
AUDITOR OF THE STATE OF KANSAS
I hereby certify that this temporary
note has been registered in my offic
Date
Auditor of the State of Kansas
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1
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That the Mayor and the City Clerk are hereby authorized to and directed
to prepare and execute said notes and to sell same in the manner provided
by law, and when duly executed and registered to deliver said notes to the
purchaser or purchasers thereof.
That this resolution be in full force and effect from and after its
adoption.
Introduced: January 26, 1960
Passed: January 26, 1960
Don C. McCune
Mayor
N. E. Peterson
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 2304 passed by the Board of Commissioners of
Salina, Kansas January 26, 1960
City Clerk
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