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1596 Issue Improvement Bonds(Published in the Salina Evening Journal 1911) 0 ra:$.nCL VL C_ C) AN Ordinance providing for the issuance of improvement Bonds of the city of Salina, Kansas, in the sum of 5 ,2.5'"{ c7o to pay for the im- provement of certain streets in said ity. Whereas, in pursuance of proceedings duly had and taken accord- ing to law, contracts have been let for the paving, curbing and guttering of South Street in the city of Salina. Kansas, between Fourth Street and College Avenue; and the total cost of said impeovements has been ascertain- ed, and the portion thereof to be paid by a general taA to be Devied 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 detlrmined to be the sura of T�4V a ; and the portion thereof to be paid by special assessments levied upon the lots and pieces of grouad-.21able th.srefor has been ascertained to be the sum of,��1� , and said last mentioned amount has been hereto- fore duly aiieessed and apportioned to. the several lots and pieces of ground on said street liable therdfor, payable in ten equal annual installments according to law and as provided ta Ordinances numbered 1590 and 1593 of the city of Salina, and the amount of said special assessments for which bonds are to be issued, as herein tr ovided, in anticipation of the saJM special assessments which remain unpaid, has been ascertained and is hereby determin- ed to be the sum of 7 th a difference between said last two O named amounts having been paid by the property owners on said South Street wh whose property has thereby been discharged from any f urth er assessments for the cost of said improvements: therefore, B e it ordained by the 'Mayor and Councilmen of the city of Salina: 0 o Section 1. That the cost. of said street improvements, after de- ducting therefrom' the asses'aments heretofore paid thereon as aforesaid, shall L%mob! be paid in ten equalninstallmen mss, instead of levying the entire cost at one time, the -first instillment• to be paid with the taxes of 1911, and one Ustall.ment with the tares for each succeeding year thereafter until the whole are paid; and thI0t for such installments there shall be issed and are • j - H hereby issued, Improvements Bonds of -the city of Salina, Kansas, in the aggregate sum of �► �(5 as hereinafter provided. Sec. 2. Said issue of bonds shall c cnei st of a _ bonds of the denomination of one thousand dollars (01000) each, and bonds of the denomination of each, numbered from one to • , inclusive, all bearing date of Apr__ il_let, 1911, with interest at the rate of five (5) per cent per annum, payable April 1 and October 1 each year, with interest cou- pons attached to said bonds, and shall become due and payable as follows, to -wit: .r �� on the lst day of April, 1912, and on the lst day 'of April in each and every year thereafter for the period of nine years. Sec. 3. Said bondsshall 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 signed by said clerk, and both bonds and co upons sh a 11 be pay- able at the fiscal agency of the State pf 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 SALINAS No ---------- KNOW ALL MEN BY THRSE PRESENTS, That the City of Salina, in the county of Saline, and State of Kansas, for value received, hereby acknowledges itself to be indebted and promises to pay to the bearer the sum of lawful money of the United States of America, on the lot day of April, 19_, with interest thereon qt the rate of five per cent per annum, payable semiannually on the o - lst days of October and April 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 signature of th a el erk of said city, as they severally become due, and both principal and interest ate payable at the Fiscal Agency of the State of Kansas, in the city of Topeka, Kansas; and the City of Salina is held and firmly bound, and its faith and cre- dit and all real and personal property in said city are h ereby pled& ged for the prompt payment of the principal of thi a bond and the interest thereon at maturity. This bond is one of a series of bonds of like date and tenor issued by said city of Salina to pay for street improvements in and for said city under and by authority of and in compliance -with the provisi,ons,of the laws of the State of Kansas governing cities of the second classt and in compliance with an ordinance duly and legally passed by the mayor and council of said city on the 47th day of February, 1911. And it is bereby declared and certified that all acts, condi- tions and things required to be done and to exist precedent to and in the ALssuing of this bond have been properly done and performed and do exist in regular and due form as required by the constitu- tion and laws of the State of Kansas, and that the total indebted - noes of said city, including this series of bonds, does not exceed any constitutional or statutory limitations. In Witness Whereof, said City of Salina, by its Mayor and Council, has caused this bond to be signed bya $to mayor and attest- ed by its Clerk, and its corJorate seal to b e hereto affixed and this bond to be dated the let day of April 1911. ------------------mayor... Attest. ----------------------- City Clerk. Sec. 3. The interest coupons to be attached to said bonds shall be substantially in the following form: NO)----_----____ INTEREST COUPON. ------ ©n the lot day of ------------19--, the City of Salina, Kansas, will pay to the bearer ---------------Doll ars, at the Fiscal Agency of the State of Kansas, in th a city of Topeka, Kansas, being six months interest on it.s improvement Bond dated April 1, 1911. No ----- _---------City Clerk. •3Y Sec. 6. The mayor and city clerk are hereby authorized, vith4k out unnecessary delay, to prepare qnd eikecute.said bonds and cou- pons, and that when executed said bonds shall 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 m Wor of said city delivered to the contractors constructing such improvements, in proportion to the amounts due such contractors, respectively, i* 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 les o than their par value nor in a greater--- cs r M— l sum or amount than theunt due and owdng said contractors)or, the mayor and council may sell said bonds at nor less than th dr 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 inter. est of said bonds, as they severally become due, by levying a tax on the property liable therefor. Sec. 7. This ordinance sl3all take effect and be in force from and after its publicat ion once in the Salina Evening Jo venal. Passed and approved Febrtary 27th, 1911. Attest: ayor. City Clerk.