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2015 Issue Improvement Bondsi2bPG11 L� 1 J 1 �,2J ORDINANCE NO , 2015. (Published in The Salina Daily Ur An ordinance providing for the issuance of Improvement Bonds of the City'of--Salina,_ Kansas, in -the sum of $6,500.00; to pay the cost of improving" certain streets in said City as hereinafter named and described. WHEREAS, in pursuance of proceedings duly and regularly - had according to law contracts have been let for the curbing and guttering, and such contracts ' have been duly performed, of certain streets in the city of Salina, Kansas, as follows, to -wit: Flm:, from Fourth Street to Front Street ; University Place, - from Baker Street to the east line of the right-of-way of The Missouri Pacific Railway Company; Pifth Street, from Crawford Avenue to Bond Street; Penn A-ve�. nue, from Iron Avenue to Ash Street; Tenth are t,. from Lincoln Avenue to Grand avenue; Second Street, from Walnut street to Mulberry Street; Third ttre_et from Walnut Street to Mulberry Street. And Whereas, the total cost of said improvements has been ascertained, and the portion thereof to be paid by a general tax to be levied on all of the taxable property of the City -of Salina' has been ascertained and is hereby found to be the sum of $800.55s and the portion of said cost to be paid by special assessments levied against the lots and pieces of ground in the taxing districts of such improvements has been ascertained, and is hereby found and determined to be the sum of 8,954.06, and such amount has'been _. heretofore duly assessed and apportioned to the lots and pieces of .ground on said streets liable therefore, payable inannual install- ments according to,law, and the amount of which special assessments remaining unpaid has been ascertained and is hereby found to be the sum of $5,735.61; the difference between which last two named amounts having been -paid by the property owners liable therefore whose property has been -thereby released from any further payment for such improvements in the amounts so paid; Now, Therefore, Be it ordained by the Mayor and Gounc ilmen of the City of Salina: Section 1. That the cost of curbing and guttering the above named streets in the City of Salina, within the limits above de- fined, after deducting the assessments heretofore paid thereon as aforesaid, including the cost of improving the squares and areas formed by the intersection of streets and alleys, and of streets adjacent to 'City property, shall be paid in four annual install - ments, the first installment to be due with the taxes for the year 1,917 and one installment with the taxes for each year thereafter until all _are paid, and that for such installments there be and are hereby issued Improvement Bonds of the City of Salina, Kansas, in the aggregate sum of $6,500.00 as herein provided. Sec. 2. Said bonds shall consist of twelve bonds of the denomination of Five Hundred Dollars, (500.00) each and four bonds of the denomination of One Hundred Twenty -Five Dollars, ($125.00) each, numbered from one (1) to sixteen,, (16) inclusive, all bearing interest at the rate of four and one-half per cent (40) per annum, payable July 1st and January 1st each year after the date of said_ bonds, which shall be January 1st, 1917. Said bonds shall have interest, coupons attached and shall become due and payable as follows, to -wit: $1,625.00 on the 1st day of January, 1918 and $1,625.00 on the lst day of January of each year thereafter fora period of three years. Sec.3 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 attached thereto, and the interest coupons of said bands shall be signed by the City Clerk of said City, and both bonds and g9upons shall be payable at the fiscal agency of the State of Kansas. .Sec. 4. Said bonds shall be executed in the form and shall contain the recital substantially as follows: UNITED STATES OF AMERICA STATE OF KANSAS. CITY OF SAL INA . No, 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 . , lawful money of the United States, on the first day of , 191 , with interest thereon at the rate of four and one-half per cent per annum, pay- able semi-annually on the first days of January and July until the principal sum shall have been paid, upon the presentation and surrender of the proper interest coupon hereto attached bearing the signature of the City Clerk of said City, as they severally become due, both principal and interest being 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 property in 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 and .ordinance duly passed and approved by the Mayor and Council of said City on the 5th day of January, 1917. 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 bond have bean properly done and performed and do exist in the regular and due form required by law and the consti- tution of the State of Kansas, and that the total indebtedness of said City, including this issue 'of bonds, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF,, the City of Salina.. Kansas, by its Mayor and Council, ' has caused -this bond to be signed by its Mayor and attested by its City Clerk, and its corporate seal to be hereto affixed and this bond to be dated on the first day of January, 1917. Attest: Mayor. City Clerk. 1 1 1 1 1 12bPG11 1 1 1 1 1 Sec. 5. The interest coupons to be attached to said bonds shall be in substantially the following form: N o . INTEREST COU PON . On the first day of , 19 , the City of Salina, Kansas, will pay to 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 January lst, and No - City Clerk. Sec. 6. The Mayor "and City Clerk are hereby authorized and directed to prepare and execute said bonds and coupons, as in this ordinance provided, and when executed such bonds shall be registered with the City Clerk of Salina, and with the Auditor of the State of Kansas, and shall be, by said Mayor, delivered to the contractor or contractors constructing said improvements, in pro- portion to. the amounts due said contractors respectively, in payment of the amounts due them for said work and improvements; Provided, however, that said bonds shall not be sold nor delivered to said contractors for less than their par value nor in a greater sum or amount.than the amount actually due and owing such contractors under their said contracts with the City of Salina for the making of said improvements; And provided, further, that the Mayor and Council may sell said bonds for not less than their par value and out of the proceeds thereof pay said contractors the amounts due them for said work and improvements, and that the Mayor and Council shall annually make provision for the payment of the principal and interest of said bonds as they sevdrally become due by levy- ing a tax therefore on the property liable. Sec. 7. This ordinance shall take effect and be in force from and after its publication once in The Salina Daily inion. Passed and approved, January 5th, 1917. (SEAL) Attest: can. F.. Banker. City Clerk. _ J. E. putnam_ Mayor. STATE OF KANSAS ) COUNTY OF SALINE j SS. C ITY OF SAL INA. I, Chas.. Hanker, City Clerk of the city of Salina, Kansas, do 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, Kansas, January 5th, 1917; and a record of the vote on its final adoption is found on Page �/--?-) of Journal No. 8. Said Ordinance was published in The Salina Daily Union, January 1917. City Clerk.