1930 Issue Improvement Bonds2bPGH
1
D
1
1
ORD I N A N CE N 0.1930
An ordinance providing for the issuance of Improvement Bonds of the
0ity of Salina, Kansas, in the sum of 5,850.00 to pay, for the
cost of improving acertain street in said City.
WHEREAS in pursuance of proceedings duly had according to
law, a contract has been let and performed for the paving and exca-
vating of Eleventh Street, in the city of Salina, Kansas, from the
south line of Walnut Street to the north line of South Street, and
the total cost of such improvement has been ascertained and the portimi
thereof to be paid by a general tax to be levied on all taxable prop-
erty within the city aforesaid for the improvement of the squares and
areas formed by the crossing of streets and alleys, and for city
property, and for which bonds are .to be issued, as hereinafter pro-
vided, has been ascertained and is hereby determined to be the sum
of $ , and the portion thereof to be paid by special ass-
essments levied upon the lots and pieces of ground liable therefor
has been ascertained and is hereby determined to be the sum of
9,298.20, and said last named amount has been. heretofore duly assess.
ed and apportioned to the several lots and pieces of ground on said
street liable therefore, payable in ten equal annual installments
according to law, and as provided in Ordinance No. 1916 of the City
of Salina, and 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
de termined to be the sum of $5,889.60, the difference between the
last two named amounts having been paid by the property owners on
said street, whose property has been thereby discharged from any
further assessments for the cost of said improvements in the amounts
so paid, Therefore;
Be it ordained by the Mayor and Councilmen of the City of Salina:
SECTION 1. That the cost of said street improvements, after
deducting the assessments heretofore paid thereon, as aforesaid,
Including the cost of improving the squares and areas formed by the
crossing of streets and alleys, and of streets adjacent to city
property, shall be paid in ten equal annual installments, the first
installment to be paid with the taxes for the year 1916, and one in-
stallment' with the taxes for each 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 $5,850.00 Dollars, as herein provided.
SECTION 2. Said issue of bonds shall consist of ten bonds in
the sum of $585.00 each, numbered from one to ten inclusive, all
bearing interest at not to exceed the rate of five per cent per an -
num, payable October 1st ; and April 1st of each year after the date
of the bonds, which shall be April lst, 1916. Said bonds shall have
interest coupons attached and shall become due and payable as fol-
lows, to -wit: $585.00 on the first day of April, 1917, and $585.00
on the first day of April of each and every year thereafter for- a pe-
riod of nine years.
SECTION 3. Said bonds shall be signed by the Mayor and attest-
ed
ttest-
ed by the. City Clerk and shall have the corporate seal of said City
attached thereto, and the interest coupons shall be signed by the City
Clerk, and both bonds and coupons shall be pa -cable at the fiscal
agency of the State of Kansas.
2
4
SECTION 4. Said bonds shall be executed in form and shall con-
tain the recitals substantially as follows:
UN IT ED STAT ES OF AMER ICA
STATE OF KANSAS
CITY OF SALINA.
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 $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, paya-
ble 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 interest
coupori hereto attached bearing the signature of the City Clerk of
said City, as they severally become due, and both principal 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
property in said C it y 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
is sued ' 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,
conditions 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 the constitution 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 limitations.
SIN 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 an4 this bond to be dated on the first day of April, 1916.
Mayor.
Attest
City Clerk.
SECTION 5. The interest coupons to be attached to said bonds
shall be substantially as follows:
No.
INTEREST COUPON
. On the, first day of , 19 , the City of Salina,
Kansas, will pay tbo�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 1st, 1916,
and N o .
City Clerk.
1
1
1
1
2bPG11
1
1
1
1
1
SECTION 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 said bonds shall be
registered with the City Clerk of the City of Salina, and with
the Auditor of State of the State of Kansas, as provided by law,
and shall be by the mayor of said City, delivered to the contract-
ors constructing said improvements, in the amount due such contract-
ors for such work -and improvements and in payment of such work and
improvements; Provided, however, that such bonds shall not be de-
livered or sold to such contractor for less than their par value
nor in,a.greater sum or amount than the whole amount due such con-
tractors
on-
tractors under their' contract for the construction of said improve-
ments;
mprove-ments; 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 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 shall
severally become due, by levying a tax on the
property liable there -
for.
SECTION 7. This ordinance shall take effect and be in force
from and after its publication once in the. Salina Evening Journal.
(SEAL.)
Attest:
Passed and approved April 3rd, 1916.
Chas. E. Banker,
City Clerk.
STATE OF KANSAS )
COUNTY _ OF_ SALINE ) SS.
CITY. OF _ SAL INA )
J. E. Putnam,
Mayor,
I, 6has . 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, April 3rd, 1916; and
a record of the vote on its final adoption is found on Page
of Journal No. 8.
City Clerk.
25'