1262 Issue NotesRESOLUTION NUMBER 1262
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j A RESOLUTIONu authorizing and providing for the issuance of Temporary Note, of
the City of Salina, Kansas, in the sum of $24,279.63 to pay a portion of the
cost of improving certain streets in the City of Salina to be designated as
PT -7 pending the issuance of bonds to pay the cost of said work.
WHEREAS, pursuant to proceedings duly had according to law, contracts have
been let and partially performed for the construction of certain street
improvements in the City of Salina, Kansas, allas provided by Resolution
Nos. 1192, 1204, 1206, 1205, 1193, 1194, 1191, 1207, 1199, 1208 and 1196,
and ordinance dos. 5543, 5544, 5553, 5554, all of which resolutions and
ordinandes are incorporated herein by reference as fully as though set out
herein full; and
VIEREAS, the total estimated cost of said improvement is $57,898.00; and
WHEREAS, temporary notes Number 2 and 3 have heretofore been authorized,
registered and issued in the sum total of $27,622.35; and
WHEREAS:, approved estimates are now on file in the office of the City Clerk
establishing that the H. J. Taylor Construction Company, contractor, has per-
formed the contract or construction thereof, and is entitled to receive the
sum of $24,279.63 for such final performance; and
WHEREAS, 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 work; and SO, NOW THEREFORE
BE IT RESOLVED by the Board of Commissioners 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 improve-
ments the City of Salina shall issue its temporary note, dated November 12, 19511,
bearing interest at a rate not exceeding four and one-half per cent per annum,
maturing not later than December 1, 1952, in the sum of $24,279.63, being a
sum less than the aggregate amount of bonds to be and now unissued, as sup-
ported and shown by the approved estimate now on file and in the denomination
as follows:
Number 4 $24,279.63
That said temporary note shall be signed by the payor and shall be
attested by the signature of the City Olerk and the corporate seal of the
City shall be affixed thereto and that said temporary note shall be regi-
tered in the office of the City Clerk and in the office of the State Auditor,
as required by law.
That said note shall be designated as Series PT -7 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 SIL INE
CITY OF SAL INA
f; $ Series
No.
3 2'4'
KNOW ALL MEN BY THESE YRESEN TS, That the City of Salina in the County of
Saline, State of Kansas, acknowledges itself to be indebted and for value
received promises to pay the bearer the sum of
DOLLARS,
in lawful money of theUnited States of America, on the first day of
19_, with interest thereon from the date thereof at the
rate of per cent per annum, 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 City of Topeka, and the full
faith, credit and resources of said City are hereby irrevocably pledged for
the payment 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 of $ ,
issued by the City of Galina, Kansas, for the purpose of paying a part of the
cost of construction certain curbing, guttering, paving and grading improvement's
insaid City by the aut}.ority of and in full compliance with the provisions,
restrictions and limitations of the constitution and lags of the State of
iansas, including Sections 10-101 to 10-115, 12-601 to 12-608 and 13-1011 to 13? -
1011A and 10-123 General Statutes of Kansas 1949, and such sections as amend-
ed, and all other provisions of the laws of said state applicable thereto, all
pending the issuance of bonds of said city to pay the cost of said work, and
this note and interest therein 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 by the constitution and laws of the State of Kansas, and
that the total indebtedness of said:.;bity, including this series of notes, does
not exceed constitutional or statutory limitations.
has executed this note by causing
seal to be affixed thereto
IN WITNESS WHEREOF, the City of Salina, Kansas
it to be signed by its Mayor and its corporate
,19 .
Attest:
CityGlerk
]mayor
That the Mayor and City Clerk are hereby authorized to and directed to
prepare and execute said note and to s ell the same in the mauler provided by
law, and when duly executed and registered to deliver said note to the pur-
chaser or purchasers thereof.
That this Resolution be in full force and effect from and after its
adoption.
(SEAL)
Attest:
Introduced and passed:
Chas. E. Banker
November 12, 1951
Carl Ramsey
Mayor
) SS
COUNTY OF SALINE )
I hereby certify that the above and foregoing is a true and
correct copy of Resolution Number 1262 passed by the Board of Commission-
ers November 12, 1951.
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