1627 Issue Sewer Improvment Bondslisted is <the: ts:< yonras.
OBDIBABCg SO..
Ami ®rdlnamce providing for the- iseuamce -of surer Improvement beads of
the city of _sa�.ina,- Saneao,. la- the. atm of #".jM0.00:
4hereatj the payer mnd council of the oit- or as',ina . ave caused
to be built . and -.constructed- certain sewers in said-, eity-1 as provided
by erdinana.e »0,:1641. and Ordinance go�l6e7, . they. cost and contract
price- of .which -. .is .more than $10.*0M00; therefore,
Be it ordai:ted :by the ►or . aud Councilmen of. the city of. Salina:
8eetion_ UL. That the cost-sewera . shall., bye payable in
annual installmente a instead of levying the eWUzsL tax. for such cost
at one time., the first installment to be paid with the taxes.of.1911,
and one installment with the taxes of each encu
eedag:.yiar until. the
whole of such son iw paid; and that. for such _installments there shall
$�- eft d #felt Improvement OadB 6f the City.. SB11IIa in
the tot"
am of 010,000,00, as herein provided.
Bees- 2* 8aid'.ihaue of bonds shall consist.- of ten X10) beads
of the denomination of $1000,00 each., they shallbe dated September
lot, 19110 and shall be due and payable as fellows, vi$:..=1000,x.
on September let, 1912, and $1000000 on the bat 4JW..of-September In
each year thereafter for nine years.
Said bonds shall bear interest. -at.- the rate. of five
�) Per eftv -pewi . snnoia. from : 4r. dat w , p wable...aeni* lly on the
first _d of Barch sad September of each Tears,. -the -first semi-annual;
Installment of innereat- fs12#vg due lbrah Ast* 1.9120 sad the saver"
Installments of interest shall be evidenced by coupons attached to
said bonds, and loth principal sad #ntereat..shall be.parsbie at the
]Fiscal Agenoh of the state of $oases, at le -pets* jsneas, -
--8eew d, Haid bands shall be signed by. the mayor 'and attest#d
by the clerk of said 'City., and shall have the-COTPOMM of said
city affixed *hsret , and said interest coup oball:_be cued by the
city clerk.
Sea.- The mor and clerk of said- city- a .e her,91W author•
ised and directed to prepare and..exeeuts as soon a ..praetieaabie, the
said bonds, herein provided -for,,.. therein. pledging:. the credit of said
city for the..-pWzmt. thereof..,, and when, executed -the. _ saiA.: bonds shall
be by the mayor and council .sold.,for. not. less, tha Ahei . par value,
and out of the- proeseds thereof.. pay the cost. of. building --and construct.
Ing such sewers. -as -aforesaid; provided (that...the. proceeds.-- of said bonds
shall not be Qaid. to the -contractor or contraAtora. constructing such
sewers until the work and improvement. for- _which. --such-.-.money is to be
paid have -been fully completed by said...aoutractor.. or contractors in
accordance with..the pian& and specifications therefor, and provided,
further, that none of the proceeds of the sale -.of ;such.bonds shall be
used for air other purpose than the payment of. the coat --of building,o
and oonstructimg the sewers described in 0rdinances.Ilo:.. 1601 and 1607;
and the mgyor and council shall make provision annually for the pay•
meat of the principal and interest of slid bonds, -as the same. shall
become duel
by
levying .an assessment.
on the property liable
therefor.
Be*.-,
6.
This ordinance Mall
take effect and ha:.ia
force from
and after its -publication once in the Salina hbening.:.dournol.
Passed and approved August. 2191911.
Attest:
ty Clerk.