2040 Issue Improvement Bonds2bPGH
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ORDINANCE NO.(Published in ay -T_ n io , Mag 3 Q3 2 1
An ordinance providing for the issuing of improvement Bonds in
the City of Salina, Kansas, in the sum of $18,000.00 to
pay the cost. of improving certain streets in said City.
WH&MAS, in pursuance of proceedings duly had according to
law, contracts have been let and performed for the paving ex-
cavating and guttering of Santa Fe Avenue in the City of Galina,
Kansas, from the south line of Walnut Street in said City to
the north line of North Street in said City, and
W"HERFAS, the total cost of said improvements has been
as and the portion thereof to be paid by a general tax
to be levied upon all the taxable property within said City fro
improvement of squares and areas formed by the crossings of streets
and alleys, and for City property, and for which bonds are to be
issued as hereinafter provided has been ascertained and is herby
determined to be the sum of $5,819.28; and
WHEREAS, , the port ion thereof to be paid by a special assess-
ments levied upon the lots and pieces of. ground liable therefor has
been ascertained and is hereby determined to be the sum of $25,350.61
which said last amount has been heretofore duly assessed and appor-
tioned to said several lots and pieces of ground on such street
liable therefor, payable in ten equal annual installments according
to law, and as provided for in Ordinances 2011 and 2014 of the city
of Salina, Kansas, and
WHEREAS, the amount of said special assessments for which
bonds are . to . be issued as herein provided in anticipation of said
special assessments which remain unpaid has been ascertained and is
hereby determined to be the sum of $12,180.72, the difference be-
tween said last two named amounts having been paid by the property
owners on said Santa Fe Avenue whose property has been thereby
discharged from any further assessments for costs of said improve-
ments 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 said street improvement after
deducting therefrom the assessments heretofore thereon paid as
aforesaid -including the costs of improvments of squares and areas
formed by the crossings of streets and alleys, and of City property,
shall be paid in ten equal annual installments instead of levying
the entire cost at one time; the first installment of which is to be
paid with the taxes of the year 1917 and one installment with the
taxes for each succeeding year thereafter until the whole amount there-
of shall have been 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 $18,000.00 as hereinafter provided.
Sec. 2. Said issue of bonds shall consist of thirty (34) bonds
of the denomination of $500.00 each and ten (10) bonds of the denom-
ination of $300.00 each, numbered from one (1) to forty (40) inclu-
sive, all bearing interest at the rate of four and one-half per cent
(4-21"%) per annum, interest payable semi-annually upon the first day of
December and June of each year after the date of said bonds, which
shall be dated June 1st, 1917, with interest coupons thereto attached
and which said bonds shall becomedue and payable as follows, to -wit:
$1800.00 on the lst day of June 1918, and $1800.00 on the 1st day of
June in each succeeding year thereafter for a period of nine years.
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Sec. 3. Said bonds shall be signed by the Mayor and attest-
" � ed by the Clerk of the City of Salina, Kansas, and shall have the
corporate seal of the said City thereto attached; and interest
coupons to said bonds shall be signed by said Clerk and both bonds
and coupons shall be paid at the fiscal agency of the State of
Kansas, in the City of Topeka, Kansas.
Sec. 4. Said bonds shall be executed in the form and shall
contain recitals substantially as follows:
UNITED STATES OF &MERICA.
STATE OF KANSAS .
CIT OF SALINA .
No.
KNOW aLL MEN BY THESE YRE5&�TS, That the City of Salina,
in the County -of Saline and State of Kansas, for value received,
hereby acknowledges it elf to be indebted and promises to pay to
the bearer the sum of ' in lawful money of the United
States of America, on the first day of June, A. D. 19 , with
interest thereon at the rate of four and one-half per cent per
annum, payable semi-annually, on the first day of December and
June of each year after the date hereof until the principal sum
shall have been paid, upon the. presentat ion and surrended of the
proper interest coupon hereto attached, bearing the signature of
the Clerk of said City, as they become sverally due and payable.
Both principal and interest are payable at the Fiscal Agency of
the State of Kansas in the City of Topeka, Kansas; and the City of
Sa 1 ina , Kansas 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 princiapal and interest of this bond
upon their maturity.
This bond is one of a series of bonds of like date and tenor
issued by said City of Salina, Kansas, to pay for street improvements
in and for said City under and by authority of and in compliance
with the provisions of the laws of the State of Kansas governing
cities of -the second class, and in compliance with an ordinance duly
and legally passed by the Mayor and Council of said City on the
23rd day of May, A. D. 1917.
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 per-
formed and do exist in regular and due form as required by the con-
stitution
on-
stitution and laws of the State of Kansas , and that the total in-
debtedness of said City, including this series of " bonds, does not
exceed any constitutional or statutory limit.
IN WITNESS WHEREOF, said City of Salina, by its Mayor and
Council, has caused this bond to be signed by its Mayor and attest-
ed by its Clerk and its corporate seal is hereto attached. _
Dated this day of D• 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:
No. 6
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, the same being six months interest on its Im-
provement Bond dated June 1st, 1917.
No.
City Clerk.
Sec. 6. The Mayor and Clerk are hereby authorized, direct -
ed and empowered without unnecessary delay, th prepare and exe-
cute said bonds and coupons as in this Ordinance provided and when
executed said bonds shall be registered with the Clerk of the
City of Salina, and with the Auditor of State of the State of
Kansas, as required by law, and shall be by the Mayor of said City
delivered to the contractor or contractors constructing such
improvements in proportion to the amount due such contractor or
contractors in payment of the amount due them for such work or
improvement; Provided, However, that such bonds shall not be
sold to such contractor or contractors at less than the par value
thereof nor in a greater sum or amount than the whole amount due
to said contractor or contractors under their respective contracts
with said City. Or, the Mayor and Council may sell said Bonds
at not less than their par value and out of the proceeds thereof
pay said contractor or contractors for said work and improvements.
Sec. 7. Said Mayor and Councilmen shall make provision
for the payment of the principal and interest on said bonds as
the same becomes due and payable by levying a tax on the property
liable therefor.
Sec. 8. This ordinance shall take effect and be in force
from and after its publication once in The Salina Daily Union.
Passed and approved this 23rd day of May, A. D. 1917.
Attest:
Chas, E- Banker.
City Clerk.
Edd Mathews,_
Mayor.
297
STAT E 0 F KAN SAS j
) SS.
COUNTY OF SALTIE
I. Chas. E. Banker, 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, May
23rd, 1917. A record of the vote on its final adoption is found
od Page �10—p of Journal No. 8. Said Ordinance was publish -
in the Salina Daily Union, May 1917.
City Clerk.
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