2230 Issue Improvement BondsORDINANCE N0. 2230.
An ordinance providing for the issuance of Improvement Bonds
of the city of Salina, Kansas, ,in -the sum of $13,615.99
to pay the costs of improving certain streets in said
City.
WHEREAS, in pursuance of proceedings duly had according
to law, contracts have been let for the paving, excavating,
curbing, guttering and grading of:
North Street,from the east line of Ninth Street to the
west line of Fourth Street; and
Penn Avenue,from the north line of Iron Avenue to the
north line of Ash 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 upon all of the taxable property within said
City for the improvement of squares and areas formed by cross-
ing of streets and alleys and for City property fow which bonds
are to be issued as hereinafter provided, has been ascertained
and is hereby determined and found to be the sum of 4,241.50;
and
WHEREAS, the portion thereof to be paid by special assess -
menta levied upon the lots and pieces of ground liable there-
for has been ascertianed and is hereby found and deterimined
to be the sum of 16,427.303, which said last amount has been
heretofore duly assessed and apportioned to the several lots
and pieces of ground on such streets liable therefor, payable
in ten equal annual installments according to law and as pro-
vided in ordinances of the City of Salina, Kansas, duly passed
and approved, 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 ascert-
ained and is hereby determined and found to be the sum of
9,374.49, the difference between said last two named amounts
having been paid by the property owners of said above named
streets whose property has been thereby discharged from any
further assessments for the cost of said improvements in the
amount so paid, Now, Therefore,
Be it ordained by the Mayor and Councilmen of the City of saliva:
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deducting therefrom the assessments heretofore paid thereon as
aforesaid, including the cost of the improvement of the squares
and areas formed by the crossing 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 in-
stallment of which is to be paid with the taxes for the year
1919 and one installment with the taxes for each succeeding year
thereafter until the whole amount thereof 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
a ggre gate sum of $13,615.99 as hereinafter provided.
Section 2. Said issue of bonds shall consist of 27 bonds
of the denomination of $500.00 each and one bond of the denomin-
ation of $115.99 numbered from 1 to 28 inclusive, all bearing
interest at the rate of four and three-quarters (4-3/4%) per cent.
per annum, interest payable semi-annually upon the first day of
October and April of each year after the date of said bonds which
shall be dated October 1st, 1918; except that the first interest
payment on said bonds shall be due and payable on the first day of
October, 1919 and on the first days of April and October of each
year thereafter during the life of said bonds. Said bonds shall
have interest coupons thereto attached and said bonds shall become
due and payable as follows, to -wit:
$115.99 on the first day of October, 1919 and $1500.00
on the first day of October, in each succeeding year
thereafter for a period of nine (9) years.
Section 3. Said bonds shall be signed by the Mayor -and
attested by the Clerk of the City of Salina, Kansas, and shall
have the corporate seal of said City attached thereto. 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:
250
UNITED STATES OF AMERICA.
STATE OF KANSAS.
CITY OF SALINA .
IMPROVEMENT BOND.
KNOW ALL MET 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
and promises to pay to the bearer the principal sum of
a
in lawful money of the Unites States of
America, on the 1st day fo October, , with interest
thereon at the rate of four and three-quarters (4-3J4%)
per .cent per annum, payable semi-annually on the first
days of October and April of each year until the princi-
pal sum shall have been paid, upon the presentation and
surrender of the proper interest coupons hereto attached
bearing the lithographed signature of the Clerk of said
City, as they severally become due, and both principal
and interdst are payable at the Fiscal Agency of the State
of Kansas in the City of Topeka, Kansas, and the City of
Salina is held and firmly bound and its faith and credit
and all real and personal property in said City are hereby
irrevocably pledged for the prompt payment of this bond
and the interest thereon at maturity.
This bond is. one of a series of 28 bonds of like
date and tenor aggregating $13,615.99 issued by said City
of Salina to pay for street improvements in and for said
City under and by the authority of and in compliance with
the provisions of .the laws of the State of Kansas covering
cities of the second class, and in compliance with the
ordinance duly and legally passed by the Mayor and Council
of said City.
AND IT IS HEREBY DECLARED AND CERTIFIED that all acts,
conditions and things required to be done and to exist
precedent to the issuance of this bond have been properly
done and performed and do exist in regular and due form
as required by the constitution and laws of the State of
Kansas and that the total indebtedness of said City includ-
ing this series of bonds does not exceed any constitutional
or statutory limitations.
IN WITNESS WHEREOF,
Mayor and Councilmen has
its Mayor and attested,by
to be hereto affixed and
first day of October., A.
z
Attest:
the said t� ity of Salina, by its
caused this bond to be signed by
its Clerk and its corporate seal.
this bond to be dated as of the
D. 1918.
City Clerk.
Mayor.
Section 5. The first interest coupon to be attached
to said bonds shall be substantially as follows:
NO.
On the first day of October, 1919, the City of Salina,
Kansas will pay to the bearer at the fiscal agency
of the State of Kansas in the City of Topeka, Kansas, the
same being one years interest on its Improvement Bond dated
October 1st, 1918.
NO.
City Clerk.
The remaining interest coupons to be attached to
said bonds shall be substantially as follows:
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NO.
On the first day of -191 , the City of
Salina, Kansas, will pay to the bearer , at th Fiscal
Agency of the State of Kansas, in the City of Topeka, Kansas,
the same being six months interest on its Improvement Bond dated
October lst, 1918.,
City Clerk.
NO.
Section 6. The Mayor and Clerk are hereby authorized,
directed and empowered without unnecessary delay, to prepare and
execute said bonds and coupons containing the usual recitals and
when executed, said bonds shall be registered with the Clerk of
the City of Salina, Kansas, and with the Auditor of the State
of Kansas, ar required by law, and shall be by the Mayor of
said City delivered to the contractors constructing such improve-
metns in proportion to the amounts due them for such work or
improvement; Provided, however, that such bonds shall not be
sold or delivered 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 `ouncil
may sell said bonds at not less than their par value and out of
the proceeds thereof pay said contractor or contractors for sadd
work and improvements. The full faith and credit of the City
of Salina, Kansas, is hereby pledged to secure the payment of
the.prinicpal and interest of said bonds as they severally become
due and payable.
Section 7. Said Mayor and Counciolmen shall make provision
for the payment of the principal and interest on said bonds as
the same become due and payable by levying a tax on the property
liable therefor.
Section 8. This ordinance shall take effect and be in full
force and from and after its publication once in the official.
City paper.
(SEAL)
Attest:
Passed and approved, December 16th, 1918.
Chas. E. Banker.
City Clerk.
Edd Mathews,
Mayor.
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STATE OF KANSAS )
) SS.
COUNTY OF SALINE- )
I. Chas. E. Banker,. City Clerk of the city of
Salina, Kansas, do hereby certify that the foregoing is a
true and correct copy of Ordinance No. 2230, passed by the
Council and approved by the Mayor of the city of Salina,
Kansas, December 16th, 1918; and a record of the vote on
its final adoption is found on Page&( of Journal No. 9.
Said ordinance was published in the Salina Daily Union,
December 1918.
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