2015 Issue Improvement Bondsi2bPG11
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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.
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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.