1500 Issue Improvement Bonds(published in the.Salina Evening Journal. July , 1909)
ORJ)INAN'CE NO. ��� v
An ordinance providing -for the issuance. of iimproveffient. bonds of the city
of Salina, Kansas, in the total sum of t�v cc -° to pay for
the improvement of portions of Eleventh and. State, streets in said
city-
Whereas, in pursuance of proceedings .duly had and taken according
to lar, contracts hese been let and comple
t ed, for the curbing and guttering
of both sides of Eleventh street,.between�the south side of Iron avenue and
the- south side of South street, ..and both sides of State street between
the west side 'of Ninth street and the, east ;sideof College -avenue, 'in
the city of Salina, and the total cost of said.. imp,rovement's has'b.een as-
certained,, and the portion thereof to be paid, by a general tax to be .
levied.upon.all of -the taxable property within said city, and for which
bonds are to be issued ss herein".provided, has been ascertained to be the
sura of \� ; and the portion thereof -to be paid by special
assessments upon the lots and pieces .of ground,liable.therefor has .been
ascertained to be the scam of , and said amount has been
heretofore duly as'ses.sed and apportioned to 'the said. several lots and
pieces ofgrounal, payable #.n four. equal annual installments, according to
lair and as provided by Ordinaneet numbered: 1484. and 1490 of .said city,
and the .amount. for rthich .bonds are to ' be issued in. anticipation of said
special assessments which remain unpaid has been ascertained and is here -
lay determined to be the sum of � i%, ; therefore,
Be it ordained by the Mayor and Councilmen of the , city of Salina:--
Section
alinna:--Section I. That the cost of said street improvements, after ate -
du ct ing therefrom the assessments heretofore paid ' thereon, as aforesaid,
shall be paid in four, equal annual installments, as provided for in said
Ordinances numbered.1484 and 14901 instead of levying the entire tax or
assessment _for such: cost at one time, the first installment to be paid
with the taxes for the year 1909, and one installment with the taxes for
each succeeding yt'airuntil the whole are paAria.nd that for such install-
ments there shall 'be issued improvement bonds. of said.' city, of Salina in
the aggregate, sum of V450 to 4z.! , as . herein provided
Sec • 2. Said issue of nonds shall consist ofJnAii W -I bonds of
C
bond of all bearing date of
�z�
July ist, 1909, numbered from one (I) to , inclusive, bearing
interest at -the rate of five per cent per annum, payable semi-annually
on the first days of .January and duly in each year, and shall become due
as follows: ���%`� o d on the' dirst' day of. July, 1910,, and
on the first` day of. -July Paeh and every year therw-Feer for the .period of.
three years.-
Sec.
ears.Sec. 3 -. Said, bonds shall be signed by the payor, and attested by
the city clerk of -the city and shall have the corporate seal of the city
attached thereto -y and,'the . interest._c.oppons' to said bohd.s ,shall be signed`
by. said clerk, and both bonds .and. coupons shall :be' payable at the fiscal
agency of the State of Kansas, in the city of Topeka, in said state.
Sec. 4. Said bonds shall hear 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, and the -several ,installmenti
interest shall be evidenced by coupons 'attached to. said bonds.
Sec 5. %The mayor and city clerk are hereby authorized without
executed
unnecessary delay to prepare and ,execute said.. bonds, and that.when,xXgn
4
Jt. d they. shall he 'registered the; city clerk of Salina, the county
clerk of Saline county, Kansas, .and by the auditor of the State of Kansas,
as reqtlired y.law;
and shall be by the mayor of said city delivered to
the 'constractors constructing : such .street improvement in payment for the
improvements made, or ,the mayor and council,' sell said bonds at not;
less than their, par value and pay the proceeds thereof to. the contractors;
provided, That if said bonds are delivered to said -contra ctors, as afore-
said, the said contractors ikII.,shall repay to the city of Salina, all -
sums of money heretofore advance, to them by .the said city.'.on account. of
said improvements; and that the mayor and council shall annually make
provision for the payment of' the principal and interest ob said. bonds,
6 ■