1134 Issue NotesRESOLUTION NIZMER 1134
i'
A RESOLUTION authorizing and providing for the issuance of Temporary
Notes of the City of Salina, Kansas, in the sum of 429,322.63 to pay
the cost of improving certain streets in the City of Salina to be
designated as Series No. PT -3 pending the issuance of bonds to pay
the cost of said work.
WHER &S, pursuant to proceedings duly had according to law, contracts
have been let and partially preformed for the construction of certain
street improvements in the City of Salina, Kansas, all as provided by
Resolutions Lumbered 1058, 1064,1062,1061,1065,1066,1067,1060,1069
and Ordinancees Numbered 5338, 5339, 5340, 5349, 53.50, 5351 all of whi6h
resolutions and ordinances are incorporated herein by reference as fully
as though set out herein in full; and
MMEAS, the total estimated cost of the improvements is 480,635.28;
and
MIEREAS, Temporary Notes No. 1, 2, and 3 have heretofore been author-
ized, registered and issued in the sum of $45,229.08, and
WHEREAS, approved estimates are now on file in the office of the City
Clerk establishing that the H. J. T:,ilor Construction Company, contractor
has partially preformed the contract for construction therefore and is
entitled to receive the sum of 429,322.63 for such partial preformance;
and
WHERF.,AS, pending the issuance and sale of bonds to pay the cost of said
improvement& it is necessary for said City to issue its temporary note
to acquire funds to pay said contractor for such work; and
SO, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMIISSIONERS 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 Cit -r of Salina shall issue its temporary note, dated
July 18, 1949 bearing interest at a rate not exceeding 6 percent per
annum, maturing not later than November 1, 1949, the sum of x29,322.63
being a sum less than the aggregate amount of bonds to be and now unissued,
as supported as supported and shown by the approved estimate now on file
and in denomination as follows;
Number 4 $29,322.63
That said temporary note shall be signed by the laayor and shall be att-
essted by the signature of the City Clerk and the corporate seal of the
City shall 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 Number PT -3 and each shall
be in the form and contain certain recitals substantially as follows;
to -wit;
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALIVA
$ Series PT -3 No.
TETvIPORARY NOTE
KNOW ALL YEN BY THESE PRESENTS: That the City of Salina in the County
of Saline, in the State of Kansas, acknowledge itself to be indebted
and for value received promises to pay to the bearer bhe sum of
Dollars in lawful money of the United
States of America, on the first day of November , 1949,
with interest thereon, from the date hereof at the rate of One and
One-�'uarter percent per ant#, payable at maturity
thereof, both principal and. interest on this note being payable at
the office of the State Treasurer of the State of a nsas, in the
City of Topeka, Kansas, and said City of Salina, Kansas, is held
and firmly bound by those presents and the full faith, credit and
resourses of said city are hereby irrevocable pledged for the pay-
ment of said principal and interest at maturity.
This note is one of a series of notes of like date and
tenor, excepting denomination, aggregating the principal sum 00
,issued by the City of Salina, Kansas, for the
purpose of paying a part of the cost of constructing certain cur-
bing, guttering, paving and grading improvements in said city by
the authority and in full compliance with the provisions, restrict-
ions 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 and 10-123 uenenal Statutes of "ansas, 19359
and such sections as amended, and all other provision's of the laws
of said State appliacable 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.
And it is hereby declared and certified that all aets, conditions
and thinks required to be done and to exist precedent to and in
the issuance of this note have been properly done and preformed
anddo exist in due and regular form and manner as required by the
constitution and laws of the State of "ansae, and that the total
indebtededness of said city, including this series of notes, does
not exceed const,itmtional of statutmry limitations.
IN V7ITNES3 1PHEREOF, the said city of Salina, `�a.nsas, has executed
this note by causing it to be signed by its T+ayor and its corporate
seal to be affixed thereto _ , 19
Attest:
ity Clerk ��___
That the 14ayor and the City Clerk are hereby authorized and directed
to prepare and execute said notes and to sell the same in the manner
provided by law, and when duly executed and registered to deliver
said notes to the purchased or purchasers thereof.
That this resolution be in full force and effect from and after its
adoption.
Introduced: July 18,1949
lassed: July 18, 1999
Lloyd V1. Price
17ayor
At -best:
City Clerk
ST«TE OF YUNS.LS
SS
Co"T-ITTY OF
SALINE))
IS Chas. E. Banker, City Clerk of Sglina, -Kansas, do hereby
certify that the above and foregoing is a true and correct copy
of Resolution Number 1134, Passed and approved July 18, 1949.