1642 Issue Improvement Bondsr � T
(Ppblished in the Salina Evening Journal January / �; 1912)
ORDINANCE NO. / 6 ��
An ordinance providing ,for the issuance of Improvement Bonds of the city
of Salina, Kansas, in the sum of_®®_ .�, to pay for certain
street improvements in said city.
Whereas, in pursuance of proceedings duly had and taken according
to law, contracts have been completed for the paving, curbing,, guttering
and -excavating of Ninth street in the city of Salina, Kansas, between the
main line tracks of the Union Pacific railroad and the north line of
South street; and the total coetn of said improvements has been ascery
tained, and the portion thereof to be paid by a general tax or assess"
merit 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 ascertained and is hereby determined to be the sum of
75—
and
---and the portion thereof to be paid by special assess*
menta levied upon and assessed against the Aots and pieces of ground
liable therefor has been ascertained to be the sum of $41,309.25, and
said last mentioned amount has been heretofore duly assessed and, appor*
tioned to the several lots andpieres of ground on said street liable to
therefor, payable in ten equal annual installments according to law and
as provided by the 'provisions of Ordinance No. 1638 of the ordinances 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 ofthe difference between
said last two named amounts having been paid by the property owners on
said Ninth street whose property has thereby been discharged from any
further.assessments for the cost of said improvements; therefore,
Be it ordained 'by ,the Mayor and Councilmen of the City of Salina:
Section 1. That the cost of said street improvements, aftw r
deducting Cher from the assessments heretofore paid thereon.as afore
said, shall be paid in ten equal annual installments, instead of levying
the entire cost at one time, the first installment to be paid with the
taxes of 1912, 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 Improvement Bonds of the
city of Salina, Kansas, in the aggregate sum of $ a�Z �,9eO tl, as here-
inafter provided.
Sec. 2. Said issue of bonds shall consist of=2-bonds
of the denomination of�$ dollars
each, and _ _ _. - ----bonds of the denomination of,� -
lowdollars each, numbered from 1 tp--� , inclusive,
all bearing interest at the rate of five (5) per cent per annum, payable
January 1 and July 1 -each year, with interest coupons attached to said
bonds, and shall become due and payable as follows, towwit:
on the let day of January, 1913, and adTe Zsn the lot day of January
in each and every year thereafter for the period of nine 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 interests coupons to said bonds shall be
signed by said clerk, and both bonds and coupons shall be payable at the
I
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 con-'\
tain recite substantially as follows:
UNITED STATES OF AICA.
STATE OF KAMM .
CITY OF SALIVA. No
KNOW ALL MEN BY THESE 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 first day of January, 19 with
Interest thereon at the rate of five (5) per cent per annum,
payable semi-annually on the first days of July and January of
each year after the date thereof until the principal sum shall
have been paid, upon the presntation and surrender of the
° proper interest coupon hereto attached bearing the signature
of the clerk of said city, as they severally become due, and
bath principal and interest are.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 credit and
all real and personal property in said city are hereby pledged
for the prompt payment of the principal of this 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 improve-
ments in and for said city. under and by authority of and in
compliance with the provisions of the laws of the State of Kan-
sas governing cities of .the second class with less than ten
thousand inhabitants, and in compliance with an ordinance duly
and legally passed by the mayor and council of said city on the
29th day of December, 1911.
And it is hereby declared and certified that all acts,
conditions and things required to be done and to exist precedent
to and in the issuance of this bond have been properly done and
performed and do exist in regular and due form as required by
the constitution and laws of the State of Kansas, and that the
total indebtedness 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 by its Mayor and
attested by its clerk, and its corporate seal to be hereto af-
fixed and this bond to be idated the first day of January,1912.
Attest: ,Mayor.
City Clerk.
Sec. 5. The interest coupons to be attached to said bonds shall
be substantially in the following form:
No.
4CNTF
.REST COMM.
6 -
On the first day of , 9�1 the City of Salina,
Kansas, will pay to thea Bearer Dollars, at the
Fiscal Agency of the State of Kansas, in the city of Topeka,,
Kansas, being six months interest on its Improvement Bonda dated
January 1, 1912, No.�.
City Clerk.
Sec. 6. The mayor an�� city clerk are hereby authorized, without
unnecessary delay, to prepai►e and execute said bonds and coupons, as in
this ordinance provided, and' that when executed said bonds shall be
registered with the city cl k of the city of Salina, with the county
clerk of Saline county, Kan jas, and with the Auditor of State of the
State of Kansas, as require4 by law, and shall be by the Mayor of said
city delivered to the contractord. constructing such improvements, in
proportion to the amounts due such contractors, respectively„ in pay
merit of the amounts due t#em for such work and improvement; Provided,
however, that such bonds shall not be sold or delivered to said contract-
ors at less than their par value nor in a greater sum or amount than the
khole amount due 4w and owing said contractors undo r their respective
contracts; or, the mayor and council may sell said bonds, at not less
than their par value, and out of the proceeds thereof pay said contract•
ors for said work and improvements; and that the mayor and council shall
annually make provision for the payment of the principal and interest on
said bonds, as they severally become due, by levying a tag on the prop-
erty 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 December9 1911
Attest: �L2�
i y er .
yor.