1107 Issue NotesResolution -lumber 1107
A RLSOLJTIOIV authorizing and providing for the issuance of Temporar,'
,ote of the City of Salina, Aansas, in the spm of ;x10,958.20 to pay
a portion of the cost of improving certain streets in the City of
j; Salina to be desir-Hated as Series �o. _PT -3 pendin -the issuance of
6' bonds to pay the cost of said work.
iEtE1�S, purs i:i .nt to nrocecdin-,s duly had according to law, contracts
have been let and partially preforr(,d for t?,e construction of certain
street improves. ents in the City of aalina, itansas, all as provided
by Resolutions ntnbered 1058, 1064, 1063, 1062, 1061, 1060,1065,1063,
1067, 1066 and 1069 and Ordinances I;t ibered 5330, 5339, 5340, 5349,
53503, 5351 all of :^rhic.h resolutions and ordinances are incorporated
herein by reference as fully as though set out herein in full; and
.HEI '�S, the total estimated cost of said improve. lent is :x00,635.28,
and
LiFREl�S: ar-roved estimates are now on file in the office of the City
Clerk establishinu that the H. J. Taylor Construction Company, con-
tractor, has partially -_reformed the contract for construction there-
of and is entitled to receive the sum of 410,958.20 for such partial
prefornance; and
VtEREhS, 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 such viork; and
SO, 1'(1.7 THEREFORE, BE IT RESOLVED BY THE BOARD OF C0141 ISSIONERS OF
THE CITY OF SALINA, Ka=vJiiJ:
laht the fore-oin€; preambles are hereby made a part of this
resolution. That pending the issuance and sale of bends to pay the
cost of said improvements the Dity of Salina shall issue its temporary
note, dated April 18, 1949, bearin- interest at a rate not exceeding
6 per cent Der annum, maturing not later than Pdovember 1,1949, in
the sum of 4x10,953.20 being a sum less than the aCZregate amount of
bondsto be and novr unissued, as supported and shown by thy; an -.,roved
estimate now on file and in denomination as follows:
i�-umber 1 10,953.E
That said temporary note shall be si"ned by the I:Tyor 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 designate as Series PT -3 and each shall be in
the form and contain certain recitals substantially as follows, to -wit:
.112
'.P
UNITED STATES OrATERICA
STATE OF KANSAS
CO_�JTdTY OF SALINE
CITY OF S:LINA
Series PT -3
TE POk_RY 2,10TE
No.
K1�1001 ALL T.%Fit BY THESE P1 'SSI' TS, That the City of Salina in the County
of Saline, State of "ansas, acknowled es itself to be indebted and for
value received uromises to pay the bearer the sum of _
--._- in lawful money of the
Jnited States of 1'umerica, of the first day of ,19 ,
with interest thereon, from the date hereof at the rate of
-----__per cent per annum, payable at maturity thereof, both
principal and interest of this note beim, payable at the office of the
State Treasurer of the State of Kansas, in the City of Topeka, Kansas,
and said City of Saline., ansas, is held and firmly bound by these
presents and the full faith, credit and resources of said city are here-
by irrevocablypledged for the patent of said principal and interest at
maturity.
This note is one of a series of � notes of like date andtenor,
excepting denomination, aggregating the principal sum of ,
issued by the City of Salina, Kansas, for the purpose of paying a part
ofthe cost of constructing certain curbing, guttering, p_vinC and grading
improvements in said city by the authority of and in full compliance
withthe provisions, restrictions and limitations of the construction
and laws of the State of (Lansas, including Sections 10-101 to 10-115,
12-601 to 12-608 and 13-1011 and 13-1011A, and 10-123 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 this note and
interest thereon to be paid by the City of Salina, Kansas.
hnd it is hereby declared and certified that all acts, conditions and
things required to be don a and to exist precedent to and in the issuance
of this note have been properly done and preformed and do exist in
due and regular form and manner as required by the constitution and lalvs
of the State of Kansas, and thet the total indebtedness of said city,
including this series of notes, does not el.ceed constitutional of stat-
utory limitations.
I1, ;UTNESS 71HEREOF, the said City of Salina, Kansas, has executed this
note by causing it to be signed by its .'Vayor and its cororate seal to
be affixed thereto 19
Attest:
City Clerk
T.ayor
at the i,ayor and the qty Clerk are hereby authorized and directed
to prepare and execute said note and to sell the same in the manner
• provided by law, and when dully executed and registered to deliver
said notes to the purchaser or puchasers thereof.
That this resoution b:e in full force anal effect from and after its
adoption.
Introduced and gassed: hpril 18th,1949
Lloyd VT. Price
I .avor
•
fittest:
Chas. E. Banker
City Clerk
ST.,TE OF' KANSAS )
83
COUNTY OF SALINE )
I. Chas. E. Banker, City Clerk of the City of Salina, Kansas,
do hereby certify that the above and foregoing is a true and correct
copy of Resolution Number 1107, passed and approved by the Board of
Commissioners on Rpril 13th, 1949
City Clerk