1650 Issue Improvement Bonds(Published in the Salina Evening; Journal 1912.
ORDINANCE NO.
An Ordinance providing for the issuance of im rovement bonds of the
city of Salina, Kansas, in the sum of $ dad - . ,
to pay for the improvement of certain s re s in said city.
Whereas, in pursuance of proceedings duly had and taken according
to law contracts have been let for the paving, curbing and guttering
of College avenue, in the city of Salina, between the south line of
Ash street and the south line of Walnut street, and the total cost
of said improvement has been ascertained and the pgrtion thereof to
A --
be paid byAgeneral tax to be levied upon all taxable property within
said city, mem for the improvement of the squares and areas form-
ed by the intersection of the streets and alleys, and for which bonds
are to be issued, as hereinafter prov&ded, has been ascertained and
is hereby determined 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 sum
of _r Z, and said last named amount has been heretofore
duly assesed and apportioned to the said several lots and pieces of
ground on such street liable therefor, payable in ten equal annual
installments, according to law and as provided in Ordinance No.1641,
of the city of Salina, and the amount of said special assessments for
which bonds are to be issued, is hereinrovided.,4foo., in anticipation
of the said special assessments which remain unpaid, has been ascer-
tained and is hereby determined tovbe thesum of $4,fo
the difference between said last two named amounts having been paidp
the property owners on said College avenue, whose property has therety
been discharged from any further assessment for the cost of said im-
provement in the amount so paid; and
Whereas, in pursuance of proceedings duly had and takkn accord-
ing to law, contracts have been let for the paving, curbing and gutter-
ing of Elm street in said city, between the west line of Seventh street
and the east line of Ninth street, and the total cost of said improve-
vent has been ascertained and the portion thereof to be paid byegeneral
tax to be.levied upon all taxable property within said city, ror the
improvement of thesquares and areas formed by the intersection of the
streets and alleys, and for which bonds are to be issued,its hereinafter
provided, has been ascertained and is hereby determined to be the sum
of and the portion thereof to be paid by special
assessmentSlevied upon the lots and piec/ess of ground liable therefor
has been ascertqined to be the sum of ��o �� 9 Is and said last
named amount has been heretofore duly assessed and apportioned to the
said several lots and pieces of ground on such street liable therefor,
payable in ten equal annual installments, according to law and as
provided in Ordinance No.1641, of the city of Salina, and the amount
of said special assessments for wftich bonds are to be issued, as herein
provided fear, 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
ir-
amounts having been paid by the property owners on said Elm street,
whose property has thereby been discharged from any further assessment
.for the cost of said improvement in the amount so paid; therefor,
Be it ordained by the mayor and councilAof the city of Salina:
Section 1. That the cost of said street improvements, after
deducting therefrom the assessments heretofore paid thereon as afore-
said, hall be paid in ten equal annual installments, instead of levy-.
ing the entire cost at one time, the first installment to be paid
-lith the taxes of 1912, and one installment with the $axes sIx$$iIi
t'or each succeeding year thereafter until the whole are patted; and
that for'such installments there shall be issued and are hereby issued
improvements bonds of the city of Salina, Kansas, in the aggregate
sum of as hereinafter provided.
Sec. 2. Said issue of bonds shall consist ofs
bonds of the denomination of �� "— each, and = ��
bonds of the denomination of CFD `�— each, numbered from one
to ol-740 inclusive, all bearing interestA at the rate of five 6�
per cent per annum, payable April let and October lst each year, with
interest coupons attached to said bonds, and shall become due and pay-
able as follows, to -wit: O b on the first day of Apri1,19131
and on the lot day of April in each and every year there-
after for a 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 of the
city attached thereto, and the interest coupons to said bonds shall be
signed by the clerk, and.both bonds and coupons shall be payable at
the fiscal agency of the State of Kansas, in the city of Topeka in sadd
State.
Sec. 4. Said bonds shall be executed in the form and shall con-
tain recit substantially as follows:
UNITED STATES OF AMERICA.
STATE OF KANSAS.
CITY OF SALINA..
....................
KNOW ALL MEN BY THESE PRESENTS, That the city of Salina, in the
county of Salibe, and state of Kansas, for value received, hereby ac-
knowledges itself to be indebted and promises to pay to the bearer the
sum of , in lawful money of the. United States of America,
on the first day of April,19...., with interest, thereon at the rate of
five t5j per cent per annum, payable semi-annually on the first days
of April and October of each year after the date thereof until the prin-
cipal sum shall have been paid, upon the presentation and surrender of
the proper interest coupon hereto attached bearing the signature of
the clerk of said city, as they severally become due, and both princi-
pal 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 ate hereby pledged for the prompt payment of the
principal of this bond and the interest thereo8 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 pro-
visions of the laws of the State of Kansas governing cities of the
second class with less than ten thousand inhabitants, and in com-
pliance with an ordinance duly and legally passed by the mayor and
council on the pith day of march, 1912.
And it is hereby declared and certified that all acts, condi-
tions 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 dire 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 constitu-
tional 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 affixed and this bond to
be dated the first day of April,1912. ,dayor
..
Attest:-
............ 4 .............. City Clerk.
Sec. The interest coupons to be attached to said bonds,
shall be substantially in the following form:
INTEREST COUPON
No........... ...............
On the first day of ................ 19...., the city of Salina,
will pay to the bearer.........................Doll ars, at
Kansas,
the Fiscal Agency of the State of Kansas, in the city of Topeka,
Kansas, being six months interest on its Improvement Bond f dated
April 14fi 1912, No ................
....................... City Clerk.
Sec. 6. The mayor and city clerk are hereby authorized, without
unnecessary dela** to prepae+nd execute said bonds and coupons,
as in this ordinance provided, and that when executed said bonds
shall be registered with the city clerk of the city of Salina,
with 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 due such contractors
respectively, in payment of the amounts due them for such work and
and improvement; Provided, however, that such bonds shall not be sold
or delivered to such contractors at less than their par value nor in
greater sum or amount than the whole amount due and owing said con-
tractors under.their respective contracts; or, the mayor and council
may sell said bonds at not less than their par value, and out of the.
proceeds ther®of pay said contractors for said work and improvements;
and that the mayor add council shall annually maize providion for the
payment of the principal and interest on 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 March 18th,1912.
Mayor.
Attest: 7-
Cit
City Clerk.