1424 Issue Sewer Improvement BondsD
(Published in the Salina Evening Journal June1908.)
it
ORDINANCE NO./ "Y.-:2,
An ordinance providing for the issue of sewer improvement bonds of the
city of Salina Kansas, in the sum of six thousand four hun-
dred dollars# t$6,400).
'Whereas, the Mayor and Council of said city of Salina have caused
to be built and constructed certain sewers, drains, catch -basins and
manholes in said city, as provided by Ordinances Nos. 1402, 1412 and 1422,
the contract price for which is six thousand four hundred dollars
(#6,400); therefore,
Be it ordained by the Mayor and Councilmen of the City of Salina:--
Section
alina:--
Section 1. That the.cost of said sewers, drains, catch -basins and
man -holes shall be payable in ten annual installments, as provided for in
said Ordinances Nos. 1402,•1412 and 1422, instead of levying the entire
tax for such cost at one time, the first installment to be paid with the
taxes for the year 1908, and one installment with the taxes of each suc-
ceeding year until the whole are paid, and that for such installments
there shall be issued sewer improvement bonds of the .city of Salina in
the -sum of Six Thousand four hundred dollars ($6,400), as herein provided.
Sec: 2. Said issue of bonds shall consist of ten (10) bonds of the
denomination of five hundred (500) dollars each, ten (10) bonds of the
denomination of one hundred (100) dollars each, and ten (10) bonds of the
denomination of forty (40) dollars each; they skull be__da,'ted.July lst,
1908, and shall be due and payable in ten (10) equal annual installments,
due on July ls$ each year,•beginning with July 1st, 1909.
Sec. 3. Said bonds shall bear interest at the rate of five (5) per*
cent per annum from their date, payable semi-annually on the first days
of January and July in each year, the first semi-annual interest-installw
went falling due January 1, 1909, and the several installments scat of
interest shall be evidenced by coupons attached to said bonds, and both
principal and interest shall be payable at the fiscal agency of the
Statel•'of Kansas, in the city of Topeka, State of Kansas. ���:
SecL 4. Said bonds shall be signed by the mayor and countersigned
by the clerk of said city, and shall have affixed thereto the corporate
seal of said city, and said interest coupons shall be signed by the
said clerk.
Sec. 5. The mayor and clerk of said city are hereby authorized -and
directed, as soon as practicable, to prepare and execute said bonds, I
therein pledging the credit of said city for the payment thereof, and when
executed the said bonds shall be delivered to the contractors con-
structing said sewers, drains, catch -basins and man -holes in payment and
satisfaction of the same; Provided, that said contractors shall re -pay
to the city of Salina all sums of money heretofore advanced by said city
to said contractors on account of said sewer construction, and, Provided,
further, that the mayor and council may sell said bonds, at not less than
their par value, and pay the proceeds thereof to the said contractors,
if sale thereof can be made to the advantage of said city.
See. 6. Rhis ordinance shall take effect and be in force from
and after its publication once in the Salina Evening Journal.
Attes
Passed and approved June 15, 1908.
I
III , NOMMI