2404 Issue Temporary Notes PT-501
1
A RESOLUTION authorizing and providing for the issuance of Temporary Notes
of the City of Salina, Kansas, in the sum of $115,085.05 to pay a portion
of the cost of improving certain streets in the City of Salina to be
designated as Series PT -50 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 performed for the construction of certain street improvements
in the City of Salina, Kansas, as provided by Resolution Numbers 2212, 2220
and 2224 and Ordinance Number 6397 all of which resolutions and ordinance
are incorporated herein by reference as fully as though set out here in
full•, and
WHEREAS, The total estimated cost of said improvements is $120,850.00 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
performed the constrction or contract thereof, and is entitled to receive
the sum of $115,085.85 for such performance; and
WHEREAS, pending the issuance and sale of bonds to pay the cost of said
improvements it is necessary for said city of issue its temporary notes to
acquire funds to pay said contractor for such work; and SO, NOW THEREFORE
BE X 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 improve-
ments, the City of Salina shall issue its temporary notes, dated August
9, 1960 bearing interest at a rate of four per cent per annum, maturing on
December 1, 1961, in the sum of $115,085.05 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: $40,085.05 Number 3: $25,000.00
Number 2: $25,000.00 Number 4: $25,000.00
That said temporary note 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 note shall be
registered in the Office of the City Clerk and in the Office of the State
Auditor, as required by law.
That said note shall be designated as Series PT -50 and each shall be in
the form and contain recitals substantially as follows: to -wit:
��4
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
TEMPORARY NOTE
$ Series 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 ,
1960 , with interest thereon from the date thereof at the rate of
per cent 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, Kansa*, is held and firmly bound by
these presents and its faith and credit are hereby irrevocably pledged for the
prompt payment of said Primcipal and interest at maturity. The said.city may
call this note for payment at any time before maturity by serving written notice
to that effect on -the holder of this note or by publication once in a newspaper
of general ciruclation i:nsaid 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 withethe provisions,
restrictions and limitations of the constitution and laws'of the State of Kansas
including Sections, 10101 to 10155, 10-123, 12-601 to 12-608, 126a01 to 12-6a18,
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, conditions and things
required to be done and to exist precedent to and in the issuance of this note
have been property done and performed and do exist indue 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
esceed constitutional or statutory limitations.
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
, 19
Attests
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 office,
Date
Auditor of the State of Kanaas
n
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II
X95
That the Mayor and the City Clerk are hereby authorized to and directed
to prepare and execute said note and to sell same in the manner provided by
law, and when duly executed and registered to deliver said note to the
purchaser or purchasers thereof.
That this resolution be in full force and effect from and after its
adoption,
Introduced: August 9, 1960
Passed: August 9, 1960
Carl Ramsey
Mayor
(SEAL)
Attest:
H. B. Peterson
City Clerk
STATE OF KANSAS )
SS
COUNTY OF SALINE )
I hereby certify that the above and forggoing is a true and correct
copy of Resolution Number 2404 passed by the Board of Commissioners of
Salina, Kansas, August 9, 1960.
City Clerk