1577 Issue Improvement Bonds(Published in the Salina Evening Journal Sept.kAG , 1910)
oxnrrrnxes NO.
An ordinance providing for the issuance of i rovement�bonds of the city
tor�pay for the
of Salina, Kansas, in the sum of $ �"3 (�a' °=
improvement of certain streets in said i y.
'Whereas, in pursuance of proceedings duly had and taken according
to law, contracts have been let for the paving, curbing and guttering of
in the city of Salina, Kansas
Santa Fe avenue, i—M -1.0imi biri, between Crawford avenue and Claflin ave-
nue, and 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 the
squares and areas formed by the intersections of streets and alleys, and
for which bonds are to be issued, as herein provided, has been ascer-
tained to be the sum of $ �/���•95�; 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 sum of $ .�—, and said
amount has heretofore been duly assessed and apportioned to the said
several lots and pieces of.ground, payable in ten,equal annual install -
menta, according to law and as provided in Ordinancei numbered
ems•.- of the city of Salina, and the amount for which bonds are
to be issued, as herein provided, in anticipation of the said special
assessments which remain unpaid has been ascertained and is hereby de-
termine ,,d to be the sum of $ �vl✓ , the dif f erence between said
two last named amounts having been paid by the property owners whose
property has thereby been discharged from any further assessments for
the cost of said improvements; and �.
Whereas, all legal requirements have been fully complied with to
authorize the mayor and council to issue improvementz bonds on account
of said street improvements; therefore,
r
Be it ordained by the Mayor and Councilmen' of the City of Salina: -,-
Section 1. That the coat of said street improvements, after de-
ducting therefrom the assessments heretofore paid thereon as aforesaid,
shall be paid in ten equal annual installments, instead of levying the
entire tag or assessment for such cost at one time, -the first installment
to be paid with the taxes of 1910, and one installment& with the taxes
for each succeeding year thereafter until the whole are paid, and that
for such installments there shall. be issued, and are hereby issued, im»
provement bonds of the city of Salina, Kansas, in the -aggregate sum of
*J70- as hereinafter provided.
Bee. 2. Said issue of bonds shall consist of
v bonds of
the denomination of $ •6e-' each, Pwgr,�bonds of the de-
nomination, eachand Gam- bond of the denomination
nomination of �$ , ,
of $ 3(o o: = ,' numbered from one to' o , inclusive, all bearing
date of October 1,. 19101' with interest at the rate of figs pia per
cent per annum, payable April 1 and October 1 each year, with'intwrest
coupons attached to said bonds therefor, and shall become due and payable
as follows, to -wit: on the first day of October, 1911,
and on the first day of October in each and every year _
thereafter for the period of im nine years.
Sec. S. Said bonds shall be signed by the mayor and attested by
the clerk of said city, and shall have the corporate seal of the city
attached thereto, and -the interest coupons to said bonds shall be
A able at the fiscal agency of the State of Kansas, in the city of Topeka
in said state.
Sec. 4. Said bonds shall be executed in the form and shall contain
recitals substantially as follows:
UNITED STATES OF AMERICA.
STATE OF KANSAS.
City of Salina.
No
`
�-'—" ALL MEN BY THESE PRESENTS, That the City of Salina, in iEee
county of Saline and State of Kansas, for value received hereby ac-.
knowledges itself to be indebted and promises to pay to tie bearer the
sutra of $: lawful money of the United States of America on the
first day of 19 with interest thereon at the rate of five
per cent per annum, payable`semi-annually on the first days of April
and Ocotober of each year after the date thereof until the principal sum
shall have been paid upon the presentation and surrender of the proper
interest coupon hereto attached bearing the si?01thjrincipalature of the clerk of
said city, as the severally become due, and and inter»est are payable at thefiscal agenc of the State Kansas, in the city
of Topeka, Kansas• and the city of alina is held and firmly bound •
its faith and credit and all real and personal property in said city
are herebyle ed for the prompt• ayment of the principal of this bond
and the iteres thereon at maturiT f like date and tenor issued
This bond is one.ofma series of bonds of-like
in and for ssaid
by said city of Salina to ay for street imp
city under and b author Ay of and in compliance with the provisions of
the laws of the Sate of Kansas governing cities of the second class,and
in compliance .with an ordinance duly and le ally passed by the mayor and
0.
council of said cit3t on the 19th day of . Sept( at, all
acts conditions
And it is hereb declated and certified that all a
and things regwired o be done and to exist precedent to and in the
issuing of this bond have beenropperl done and performed and do exist
in regular and due -form as required by the constiution and laws of the
State of Kansas and that the total indebtedness of said city including
this series of.tonds, does not exceed any bonstitutional or statutory
limitations. I 4..
In Witness Thereof, said city of Salina, by its mayor and council,
has caused this bond to be sign
ed by its mayor and attested by its'
clerk and its co orate seal to be hereto affixed and this bond to be
dated"t the first day of October, 1910. Mayor.
Attest: ---
---- -- City Clerk.
Sec. 5. The interest coupons to be attached to said bonds shall be
substantially in the following form:
TNTMST COUPON.
No.--TH-1he first day of 19the City of Salina. Kansas Z1
pap to.beaxer �olars, at the Fiscal Agency of the State
of Kansas, in -Ea ci .y o Topeka, Kanas being sig months' interest on
its improvement bond dated October 1, 190. Cit Clerk.
: y
Sec. 6.
The
mayor and city clerk are
hereby authorized, without
unnecessary
delay,
to prepare and execute
said bo*dg and coupons, and
that when executed said bonds shall be registered with the ci6y clerk,.
of the city of Salina, the county clerk of Saline county, Kansas, and,
by the Auditor of State of the State of Kansas, as required by law, and
shall be by the mayoraof said city delivered to the contractors const-
ructing such improvements, in.proportion to the amount due such con-
tractors, respectively, in payment of the amount due them for such work
and improvement; provided, however, that such bonds shall not be, delivered
to said contractors until the work for which they are to pay aam is
k fully completed and accepted by the governing body of said city; or,
the mayor and council may sell said bonds and out of the proceeds thereof
;2- pay.said contractors for such work and improvement; and that the mayor
and council shall annually make provisions for the payment of the prin-
t ciP al and interest of said -bonds, as the same shall become due, by -levy-
ing a tax on the property liable therefor.
Sec. 7. This ordinance shall talo effect and be in force.from and
after its publication once in the Salina Livening Journal.
roved Se tember�, 1920.
Passed and app P
c
Attest: yo .
er .