1501 Issue Sewer Improvement Bonds(published in the Salina Evening Journal July---., 1909.)
ORDINANCE NO.
An ordinance roviding for the issue of sewer rovement bonds of the
Wty*00)
of 'Sthalina Kansas, in the sum of Six ousand �Kt-ohundred�Dolla'rs.
�her.eas, the Mayor and council of the city of Salina have caused
to be built and constructed certain sewers, catch -basins and manholes in
said city, as provided by Ordinances numbered 1473, 1474, 1475 and,,[!�'``�`,
the contract price of which is Sig thousand,' W_Vhundred dollars,
1$6,�,30), therefore,.
Be it ordained by the Mayor and Councilmen of the city of Salina:
Section 1. That the cost of said sewers shall be payable in ten
(10) annual installments, instead of levying the entire tax dor BU69
cost at one.time., the first installment to be paid with the taxes of
1909, and one installment with the taxes of each succeeding 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 total sum of Sig
thousand,I",_w5undred (6,00) dollars, as herein provided.
Sec. 2. Said issue of bonds shall consist of ten (10) bonds of the
denomination of six hundred arty (6�0) dollars each; they shall be
dated July 1, 1909, and shall be due and payable as follows: $60.00 on
J 1, 1910, and I fty $69b.00 ori July 1 in each year thereaf ter
for nine years.
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 each year, the first semi-annual installment of
interest falling due January 11 1910, and the several installments of
interest shall be evidehced by coupons attached to said bonds, and both
principle and interest shall be payable at the fiscal agency of the State
of Kansas, in Topeka, Kansas.
Sec. 4. Said 3 Ids shall be signed �y, the mayor and countersigned
by the clerk of said city, and shall have the corporate seal of said city
affixed thereto, and said interest coupons shall be signed by 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,
therein pledging the credit of said city for the payment thereof, and
when executed the said bonds shall be delivered to the contractor con-
structing such sewers in payment thereof, or, the mayor and council may
sell said bonds at not less than their par value and out of the proceeds
thereof pay such contractor; Providedt That if said bonds are delivered
to said contractor, as aforesaid, said contractor shall repay to the city
of Salina all sums of money heretofore advanced by said city to said
contractort, and provided further, that said bonds or the proceeds there-
of shall not be paid to said contractor until the work and improvement
.for which thA31 bonds or money are to pay has been fully completed by
said contractor in accordance with the plans and specifications therefor;
and the mayor and council shall annually make provision for the payment
of the principal and interest of said bonds, as the same shall become
due, by levying an assessment on the property liable therefor.
Sec. 6. This ordinance shall take effect and be in force frau and
after its publication once in the Salina Evening Journal.
Passed and approved July 1, 1909.
BUY VI_
Attest:
i er .