1025 Issue NotesRESOLT7IOT' NT.TFiBER 1025
r A RESOLUTION authorizing and providing for the issuance of a temporary
{ note of the City of Salina, Kansas, in t he sum of #38,891.60 to pay a portion
of the cost of improving certain streets in the City of Salina to be designated
as Series No. PT -1 pending the issuance of bonds to pay the cost of said work.
WHEREAS, pursuant to uroceedings duly had according to law, contracts
have been let and partially performed for the construction of certa_n street
improvements in the City of Salina, Kansas, all as provided by Resolutions
Numbered 943, 951, 955, 961, 964, 966, 970, 971, 973, 974, 975, 977, 935,
939, 940, 948, 949, 950, 965, 967, 968 and 976 and Ordinances Numbered
5216, 5217 and 5218, 5233, 5234, and 5235 all of which resolutions and
ordinances are incorporated herein by reference as fully as though set out
herein in full; and
VVHMEAS, the total cost of said improvements is $148,920.75, and;
;"JHEREAS, approved estimates are now on file in the office of the City
Clerk establishing that the H. J. Taylor Construction Company, contractor,
has performed the contract for the construction thereof and is entitled to
receive the sum of $148,920.75 for such performance; and
YEEREAS, temporary notes No. 1, No. 2 and No. 3 have heretofore been
authorized, registered and issued in the sum of $110,029.15, leaving a
balance due of $38,891.60; and,
VTHEREAS, pending the issuance and sale of bonds to pay the cost of
said improvements it is necessary for said City to issue its temporary note
to acquire funds to pay said contractor for the remainder of such viork; and
SO, NOW THEREFORE, , BE IT RESOLVED 13Y THE BOARD OF C0P.3�1IISSIONERS OF THE
CITY OF SALINA, KANSAS:
That the foregoing preambles are hereby made a part of this resolution.
! That pending the issuance and sale of bonds to pay the cost of said improvements
the City of Salina shall issue its temporary note, dated February 3, 1948, bear-
ing interest at a rate not exceeding 6 per cent per annum, maturing not
later than July 1, 199.8, in the sum of $38,891.60 being a sum lessthan the
aggregate amount of bonds to be and novvr unissued, as supported and shown
by the approved estimates now on file and in denomination as follows:
Number 4 $38,891.60
That said temporary note, for the aforesaid sum, shall be signed by the Mayor
and shall be attested by the signature of the City Clerk and the corporate
seal of the City shall be affixed thereto and that said temporary note shall
be registered in the office of the City Clerk and in the office of the Auditor
of State, as required by law.
That said note shall be designated as Series PT -1 and shall be in the
form and shall contain recitals substantially as follows, to -wit:
77NITED STATE OF AMERICA
STATE OF K,1NSAS
COUNTY OF SALINE
CITY OF SALINA
$38,891.60 Series PT -1 No. 4
TEMPORARY NOTE
KNOW ALL MEN BY THESE PRESETdTS, That the City of Salina in the County
of Saline, State of Kansas, acknowledges itself to be indebted and for value
received premises to pay the bear the sum of Thirty Eight Thousand, Eight
Hundred and Ninety one and 60100 DOLLARS in lawful money of the United States
of America, on the first day of July, 1948, with interest thereon, from the
date hereof at the rate of lr per cent per annuip, payable at maturity thereof
both principal and interest of this note being payable at the office of the
State Treasurer of the State of Kansas, in the Cite of Topeka, Kansas. And
said City of Salina, Kansas, is held and firmly bound. by these presents and
the full faith, credit and resources of said city are hereby irrevocably
pledged for the payment of said principal and interest at maturity.
i�
I;,
This note is one of a series of 4 notes of like date and tenor, except-
ing denomination, aggregating the principal sum of $148,92U.75, issued by
the City of Salina, Kansas, for the purpose of paying a part of the cost of
constructing certain curbing, guttering, paving and grading improvements in
said city by the authority of and in full compliance with the provisions,
restriction and limitations of the constitution and laws of the State of
Kansas, including Sections 10-101 to 10-115, 12-601 to 12-608, and 13-1011
and 13-1011A, General Statutes of Kansas, 1935, and such sections as amended
and all other provisions of the laws of said state applicable thereto, all
pending issuance of bonds of said city to pay the cost of said work, and _his
note and interest thereon to be paid by the City of Salina, Kansas.
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 note have been properly done and performed and do exist in due and
regular form and manner as required b-, the constitution and laws of the State
of Kansas, and that the total indebtedness of said City, inclduing this
series of notes, does not exceed constitutional or statutory limitations.
IN WITNESS WHEREOF, the said City of Salina, Kansas, has executed this
note by causing it to be signed by its Ma,ror and its corporate seal to be
hereto affixed, attested by its Cite Clerk and this note is hereby dated the
3rd day of February, 1948
(SEAL) May or
Attest:
City Clerk
That the Mavor and City Clerk are her -by authorized and directed to
prepare and execute said note and to sell the same in the manner provided
by law, and when duly executed and registered to deliver said note to the
purchaser or purchasers thereof.
That this resolution be in flzll force ar:.d effect from and after its
adoption.
Introduced and Passed: February 2, 1948
(SEAL) Al Noyce
Mav or
Attestz
Chas. E. Banker
City Clerk
MT TE OF KANSAS )
)SS
COUNTY OF SALI14E )
I, Chas. E. Banker, City Clerk of the City of Saliha, Kansas, do
hereby certify tlat the above and foregoing is a true and correct copy of
Resolution Number 1025 passed and approved by the board of Commissioners
February 21 1948.
City" Clerk