1929 Issue Improvement Bonds2bPUH - 19
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0 R D INANCE- -N 0.1-929--=-------_--- --
An ordinance providing for the issuance of Improvement Bonds of
the city of Salina, Kansas, in- the sum of $39,090.00, to pay
the cost of improving certain streets in said City.
WHEREAS, in pursuance of proceedings duly had according to law
contracts have been let and performed for the paving,, curbing,,
guttering and excavating of Park Street, between the west line of
Ninth Street and the east line of the right of way of the Missouri
Pacific Railway Company, and College Avenue, between the north line
of Ash Street and the south line of Park Street, and for the paving
and excavating of Fifth Street, between the south line of Walnut
Street and the north line of Prescott Avenue, and for the curbing and
guttering of Ash Street, between the east line of Fourth Street and the
west line of Ohio Street; Mulberry Street, betweentheeast line of
Santa Fe Avenue and the west line of Second Street; Thirteenth Street.
between the north line of the right of way of the Union , Pacific Rail-
road Company and the south line of Grand Avenue; State Street, between
the west line of College avenue and. the east line of Railroad Street;
and Walnut Street, between the west line of College Avenue and the
east line of Railroad Street;
AND WHEREAS, the total cost of said improvements has been as-
certained and the portion thereof to be paid by a general tax to be
levied on all the taxable property within said City for the improve-
ment of -the squares and areas formed by the intersection of streets
and alleys, and for city property, and for which bonds are to be
issued, as hereinafter provided, has been ascertained and is hereby
determined to be the sum of $4,808.74, and the portion thereof to
be paid by special assessments levied upon the lots and pieces of
ground liable therefor has been ascertained and is hereby determined
to be the sum of $40,135 .41, and said last named amount has been
heretofore duly assessed and apportioned to the several lots and
pieces of ground on such streets liable therefor, .payable in annual
installments according to law, and as provided by Ordinances Nos. 1919
and 1920, of the City of Salina, and the amount of whAch special
assessments for which bonds are to be issued, as herein provided, in
anticipation of such special assessments as remain unpaid, has been
ascertained and is hereby found and ascertained to be the sum of
$262973.402 the difference between the last two named amounts -having
been paid by the property owners on said streets, whose property has
thereby been discharged from any further assessments for the cost of
said improvements in the amounts so paid; Now Therefore,
Be it ordained by the mayor and Councilmen of the City of Salina:
SECTION 1. That the cost of the paving, curbing, guttering and
excavating of Park Street from the west line of Ninth Street to the
east line of the right of way of the Missouri Pacific Railway Company
and of College Avenue from the north line of Ash Street to the south
line of Park Street, and the cost of paving and excavating Fifth Street
from the south line of Walnut to the north line of Prescott Avenue,
after deducting the assessments heretofore paid thereon as aforesaid,
including the cost of the improvements of the squares and areas
formed by the intersection of the streets and alleys, and of streets
adjacent to City property, shall be paid in ten equal annual install-
ments, the first installment to -be with the taxes for the year 1916,
and one installment with . the taxes for each suceeding year there-
after until the whole is paid, and that for such installments there
shall be and are hereby issued Improvement Bonds of the City of Salina,
Kansas, in the aggregate sum of 31,750.00 Dollars, as herein provid-
ed.
SECTION 2 Said bonds shall consist of sixty (60) bonds of the
denomination of Five Hundred (500.00) each and ten .(10) bonds of the
denomination of One Hundred Seventy -Five Dollars, (•175.00) each,
numbered from one to seventy inclusive, all bearing interest at the
rate of not to exceed five per cent per annum, payable October 1st
and April 1st of each year, after the date of such bonds, which shall
be April 1st, 1916, said bonds shall have interest coupons attached
and shall become due and payable as follows, to -wit: $3,175.00 on the
first day of April, 1917, and $3,175.00 on the f irst ' day of April
in each and every year thereafter for a period of nine years.
SECTION 3. That the cost of curbing and guttering Ash Street
from the east line of Fourth Street to the west line of Ohio Street;.
Mulberry Street , from the east line of Santa Fe Avenue, to the west
line of Second Street; Thirteenth Street from the north line of the
right of way of the Union Pacific Railroad Company to the south line
of Grand Avenue; State Street from the west line of College Avenue to
the east line of Railroad Street; and Walnut Street, from the . west line
of College Avenue to the east line of Railroad Street, after deduct-
ing the assessments heretofore paid thereon as aforesaid, including
the cost of the improvement of the squares and areas formed by the
crossing of streets and alleys•, and of streets and alleys adjacent to
City property, shall be paid in four equal annual installments, the
first installment to be paid with the taxes for the year 1916, and -
one installment with the taxes of each succeeding year thereafter
until all are paid, and that for such installments there shall be
and are hereby issued Improvement Bonds of the City of Salina, Kansas,
in the aggregate sum of 7,349.84 Dollars, as herein provided, such
bonds to consist of twelve bonds in the sum of Five Hundred Dollars,
($500.00) each, and four bonds in the sum of Three Hundred Thirty -
Five Dollars, ($335.00) each, numbered from one to sixteen inclusive,
all bearing interest at not to exceed the rate of five per cent per
annum, payable Octobet+ 1st and April 1st of each year, after the
date of such bonds, which shall be April 1st, 1916, and such bonds
shall have interest coupons attached and shall become due and payable
as follows, to -wit: 1,835.00 on the ,first day of April, 1917, and
$1,835.00 on the first day of April of each and every year thereafter
until all are paid or for a period of three years.
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SECTION 4. All of the bonds provided for in this ordinance
shall be signed by the Mayor and attested by the City Clerk of said
City of Salina and shall have the corporate seal of said City at-
tached
t-
tacked thereto, and the interest coupons of said bonds shall be
signed by the City Clerk of said City, and both bonds and coupons
shall be payable at the fiscal agency of the State of Kansas.
SECTION 5. Said bonds shall be executed in the form and shall
contain the recitals substantially as follows:
UNITED STATES OF AMERICA
STATE OF KANSAS.
CITY OF SAL INA . N o ._________
KNOW ALL MEN BY THESE PRESENTS, That the City of Salina,
in the. County, of _Saline and State of Kansas, for value received, -
hereby acknowledges itself to be indebted to and` promises to pay
to the bearer the sum of in lawful money of the
United States, on the first day of April, 19 , with interest
thereon at the rate. of Der cent per annum,
payable semi-annually on the first days of October and April of
each year after the date hereof until the principal sum shall have
been paid, upon the presentation and surrender of the proper in-
terest coupon hereto attached bearing the signature of the City
Clerk of said City, as they severally become due, and both prin-
cipal and interest are payable at the fiscal agency of the State
of Kansas, in the City of Topeka, Kansas; and said City of Salina
is held and firmly bound, and its faith and credit and all real
and personal propertyin said City are hereby .pledged for the prompt
payment of the principal of this bond and the interest at maturity.
This bond is one of a series of bonds of like date and tenor
issued by the City of Salina to pay for street improvements in and
for said City under and by authority of and in compliance with an
ordinance duly passed and approved by the Mayor and Council of said
City on the 3rd day of April, 1916.
And it is hereby declared and certified that all acts, con-
ditions and things required to be done and to exist precedent to and
in the issuance of this bond have been properly done and performed
and do exist in the regular and due form required by law and consti-
tution of the State of Kansas, and that the total indebtedness of
said City, including this issue of bonds, does :not exceed any con-
stitutional or statutory limitations.
IN WITNESS WHEREOF, the City of Salina -
Kansas, by its Mayor
and Council -,.,has caused this bond to be signed by its Mayor and at-
tested by its City Clerk, and its corporate seal to be hereto af-
fixed and this bond to be dated on the first day of April, 1916.
Attest: Mayor.
City Clerk.
SECTION 6. The interest coupons to be attached to said bonds
shall be substantially in the following form:
No. ' INTEREST COUPON
On the first day of _ 19 , the City of Salina,, Kansas
will pay the bearer dollars, at the fiscal agency of the
State of Kansas, in the City of Topeka, Kansas, being six months
interest on its Improvement Bond, dated April lst, 1916 and No.________
City Clerk.