1958 Issue Sewer Improvement BondsORDINANCE NO. 1958
Published in the Salina gaily -Union �/ / �� `1916)
An ordinance providing for the issuance of Sewer Improvement
Bonds of the city of Salina, Kansas in the sum of $7500.00
WHEREAS, the Mayor and Council of the City of SaLlina have
caused to be built and constructed certain sewers in said City, as
provided by 0rdinancees Nos. 1866 and 1918, the total contract price
of which is in excess of $7,500.00; therefore,
Be it ordained by the Mayor and Councilmen of the City of Salina:
Section 1. That the cost of said sewers shall be payable
in ten annual installments, instead of levying the entire tax for
such cost at one time, the first installment to be paid with the.
taxes for the year 1916, and one installment with the taxes for
each succeeding year until the hwole of such sum is paid; and
that for such installments there shall be issued sewer improvement
bonds of the city of Salina, in the total sum of $7,500.00 as
herein provided
Sec. 2. Said issue of bonds shall consist of ten bonds of
the denomination of $750.00; they shall be dated June 1, 1916,
and payable as follows, to -wit: $740.00 on the first day of June
1917 and $750.00 on the first day of June in each year thereafter
for nine years.
Sec. 3. Said bonds shall bear interest at such rate as
the Council shall hereafter deVermine, not exceeding however the
rate of six per cent per annum, such interest to be payable semi-
annually on the first day of December and June of each year, the
first installment of interest falling due on the first day of
December, 1916; and the several dnstallments of interest shall be
evidenced by coupons attached to such bonds, and both the princi-
pal and interest of such bonds shall be payable at the fiscal
agency of the State of Kansas, at the city of Topeka, Kansas.
Sec. 4. Said bonds shall be signed by the Mayor and attest-
ed by the city clerk of said City, and shall have the corporate
seal of said City affixed thereto, and said interest coupons shall
be signed by the City Clerk.
Sec. 5. The Mayor and Clerk are hereby authorized and di-
rected to prepare and execute, as soon as practicable, the said
bonds herein provided for, therein pledging the credit of the said
Eity for the payment thereof, and when executed said bonds shall
be by the said Mayor and Councilmen sold, for not less than
their par value, and out of the proceeds thereof pay the cost of
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building and constructing the sewers aforesaid; and the Mayor an d
Council shall make provision annually for the payment of the prin-
cipal and interest of said bonds, as the same shall become due,
by levying an assessment on the property liable therefore.
Sec. 6: This ordinance shall take effect and be in force
from and after its publication once in the Salina ,Daily Union.
Passed and approved, June 5th, 1916.
J. -E. Put nam,
Mayor.
( SEAL )
Attest:
_Chas. E. Banker,,
City Clerk.
STATE OF KANSAS )
CGIJ14TY uF- SALINE ) SS.
CITY OF SALINA_
I hereby certify that the above and foregoing
is a true and correct copy of an ordinance passed by the Council
and approved ,by the Mayor of the City of Salina, June 5th, 1916;
and a record of the vote on its final adoption is found on'Page cD�►'
of Journal No. 8.
City Clerk.