1589 Issue Improvement Bonds{Published in the Salina Evening Journal Jan._, 1911).
ORDINAIdCB NO.IJ-1'�',_'
An ordinance providing for the issuance of Improvement -Bonds of the city'
of Salina, Kansas, in.the sum of $ .240e41 =` _ , to pay for the
improvement of certain streets in said city.
Whereas, in pursuance of proceedsings duly had and taken according
to law, contracts have been let and completed for the paving, curbing
and guttering of Ash street, in the city of Salina, Kansas, between the
west side of Seventh street and the west side of College avenue, and for
the paving, curbing and guttering of Tenth street, in said city,, be-
tween the south side of Walnut street and..the north side of South street;
and the total coat 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 hereinafter provided, has been ascer-
tained and is hereby determnied .; to be the sum of and
the portion thereof to be paid by special assessments levied upon the
lots and pieces of ground liable therefor has been ascertained to be the
earn of $ _ , and said last named amount has been heretofore
duly.assessed and apportioned to the said several lots and pieces of
ground on said streets liable therefor, payable in ten. a equal annual
installments according to law and as provided in Ordinances numbered
A/ 7Z and of the city of Salina, and the amount of said
special assessments 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 determined to be the- sum of
the difference between said last two named amounts having been paid by
the property owners on said Ash and Tenth streets whose..properth ereby
been discharged from any further assessments for the cost of said im-
provements; therefore
Be it ordained by the Mayor and# Councilmen.of -the city of Salina: --
Section 1. That the cost of said street improvements, after de --
ducting therefrom,the assessments heretofore paid thereon as aforesaid,,
shall be paid in ten equal annual installmentsf instead of levying the
entire tax or assessment for such cost at one time, the first install-
ment to be paid with the taxes of 1911, and one installment with the
taxes for each succeeding year Ithereafter.until the whole are paid; and
that for such installments there shall be issued$ and are he reby
issued,; Improvement Bonds of the city of Salina, Kansas, in the aggre-
gate sum of $ ±2 70' iPo ==f as hereinaf ter provided.
Sec. 2. Said issue of bonds shall consist ofbonds
of the denomination of one thousand dollars ($1,000) each; tz_ '*�/o
bonds of the denomination of 64e..�.---t4rr�`____dollars
a =® ) each r
numbered from one to ,
inclusive all bearing date of January 2, 191lf with intefeat at the rate
of five (5) per cent per annum, payable January 2 sand July 2 each year,
with interest coupons, attached to said bonds, and shall becomd due and
.2✓y"� �= on the 2nd
payable as follows, to -exit: $ da _ _ _ _ _ _ _�..._.� Y of Januar r
3 ,
1912 , and
on the 2nd day of Oxiskax January in each and every year thereafter for
the period.of v6sIA years.
Sec. 3. 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 coppons to said bonds shall be signed
by said clerk, and bothnbonds and coupons. shall-be'payable at the f ileal
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 Aj ICA.
STATE OF KANSAS
CITY OF SALINA, N0.
KNOW ALL MEN BX THESE PRESENTS?, That the Oity of Salina in the
county of Saline, and State of Kansas for value received, Aereby
acknowledges itself to be indeited and promises to pap to the
be aver the sum of $ lawful ,money of the United States of Am-
erica, on the 2nd dayy olTua'ry, 19 , with interest thereon at the
rate of five per cent per annum, payya�e�semi"annually on the 2nd days
of January and July of each year after the date thereof until the prin-
cipal sum shall have been paid upon the presentation and surrender o
the pro er interest coupon hereto attached bearing the si�a ture of the
clerk N said cit as they severally become due, and both ri$cipal and
interest are payake at the Fiscal Agency of the State of Kpansas, in the
city, of Topeka, Kansas and the City of Salina is held and firmly. bound;,
and its faith and credit and all real and personal property in said city
are hereby ple ed for the prompt. ayment of the principal of this bond
and the interest thereon at mature" .
This bond is one of a series o bondd of like date and tenor issued
by said city of Salina to pay for street improvements in and for said
city under and I authority of and in compliance with the.pro.visions of
the laws of thetate. of Kansas governing cities of the second class,
and in compliance with an ordinance duly and legally passed by the mayor
and council of said city on the 2nd day of January, 1911.
And it is herebT declared and certified that all acts, conditions
and things required o be done and to exist precedent to and in the
issuing of this bond have been -pro erly done and performed and do exist
in regular and due form as requireby the constiution and laws of the
State of Kansas and that the total indebtednessof said city, including
this series of Londs, does not exceed any constitutional or statutory
limitations.
Ili Witness Thereof,' said City of Salina,, .by its Mayor and Council,
has caused this bond to be signed by its Mayorrand attested by its
Clerk, and its corporate seal to be hereto affixed and this bond to be
dated the 2nd day of January, 1911.
Mayor
Attaet: , City Clerk.
Sec. 5. The interest copgpons to be. attached to said.bonds shall be
substantially in the following form:
INTEREST COUPON. �
NO.
(fin` _e 2nd day of , ] 9 the City of Salina Kansas, wily
pay to bearer Goll s at Fiscal Agenc` of the State of
Kansas, in the cl y o . opeka, Xansas being six months' interest on its
Improvement Bond dated January 2,
City Clerk.
Sec. 6. The mayor and city clerk are hereby authorized, without
unnecessary delay, to prepare and execute said bonds and coupons, and
that.when executed.said bonds.$hall be registered with the city clerk
of the.city of Salina, the county clerk of Saline county, Kansas, and
with the auditor of state -of the State of Kansas, as required by law,
and shall be by the.mayor of said city delivered to the contractors
constructing such improvements, in proportion to the amounts du® such
contractors, respectively, in payment of the amount due them for such
work and improvement;.Provided, however, that such bonds shall not be.
sold or delivered to said contractors at less than their par value nor
in a greater sum or amount than the amount due and bwing said contrac-
tors; or, the mayor and council may sell said bondalx at-not less than
their par value and out of the proceeds thereof pay-said contractors
for said work and improvements; and that the mayor and council shall
annually make provisions.for the payment of the principal and interest
of said bonds, as they severally become due, by levying a tax on the
property liable therefor.
Sec 7 This ordinance shall take effect and .be in force from and
after its publication once in the Salina Evening Journal.
Passed and approved January 2, 1911. c
Attest: Mayor.
i y er .