1541 Issue Sewer Improvement Bondsa
E
(Published in the Salina Evening Journal February'Ly' 1910).
ORDINANCE NO.--/
An ordinance
providing for the issuance
of
sewer improvement bonds of the
city of
Salina, Kansas, in the sum
of
®G,
Whereas, the mayor and council of the city of Salina have cauedd
to be built and constructed certain sewers in said city, as provided by
Ordinance No. 1517 and Ordinance No,/✓^'� , the cost and contrasty
price of which is $� �' 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
—L�—
annual installments, instead of levying the entire tax for such cost at
one time, the first installments to be paid with the taxes of 1910, and
one installment with the taxes of each succeeding year until the whale
of such sum is paid_and that for such installments there shall be issued
sewer improvement bonds of the city of Salina in the total sum of
C5 m.
s a C) , as herein provided.
Sec. 2. Said issue of bonds shall consist of *� bonds of the
denomination of ---`--each
` • they shall be dated March lot, 1910, and shall be due and
payable as follows, ViZ: $ on March let, 1911, and a
on the 1st day of March in each year thereafter for years,
Sec. 3. Said bonds shall bear
per cent per annum from their date,
interest at the rate of five (5)
payable semi -a wally on the first
days of March and September of each year, the -first semi. -annual install..
ment of interest falling due September lot, 1910, and the several in.
stallments 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 State of Kansas, in Topeka, Kansas.
Sec. 4. Said bonds shall be signed by the mayor and attested by the
clerk of said city, and shall have the corporate seal of said city af-
fixed thereto, and said interest coupons shall be sied by the city clerk
Sec. 5. The mayor and clerk of said city are trebjr authorized
and directed, to prepare and execute, as soon as practicable, the said
bonds herein provided for, therein pledging the credit of said city for
the payment thereof, and when executed the said bonds shall be by the
mayor and council sold, for not lees than their par value: and out of
the proceeds thereof pay the cost of building and constructing such
sewers aforesaid; Provided, that the proceeds of said bonds shall not
be paid to the contractor or contractors constructing such severs until
the work and improvement for which such money is to be paid have been
fully completed by said contractor or contractors in accordance with the
plans and specifications therefor, and provided, further, that none of
the proceeds of the sale of such bonds shall be used for any other pur«
pose than the payment of the cost of building and constructing a sewers
described in said ordinances No. 1517 an i; and the mayor and
council shall make provision annually for the payment of the principal
and interest of said bonds, as the sane shall become due, by levying an
assessment on the property liable therefor.
Sec. 6. This ordinance shall twice effect and be in force fromand
after its publication once in the Salina Evening ,Journal.
Passed and approved February 21, 1510.
Attest:
1
y' er .
o�
W
I