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84-9005 Authorize GO BondsA (Published March I, 1984) ORDINANCE NO. 84-9005 N ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE AND DE- IVERY OF $425,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION ONDS, SERIES F-230, OF THE CITY OF SALINA, KANSAS, FOR THE URPOSE OF PROVIDING FUNDS TO PAY THE COST OF ACQUIRING FIRE IGHTING EQUIPMENT TO BE USED BY THE FIRE DEPARTMENT OF THE ITY OF SALINA, KANSAS; PRESCRIBING THE FORM AND DETAILS OF AID BONDS; PROVIDING FOR THE LEVY AND COLLECTION OF AN AN - UAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND IN- EREST ON SAID BONDS AS THEY BECOME DUE; AND AUTHORIZING AN GREEMENT BETWEEN THE CITY AND THE BOND REGISTRAR. WHEREAS, pursuant to K.S.A.12-110(c), and other rovisions of the laws of the State of Kansas applicable hereto, by proceedings duly had, the governing body of the ity of Salina, Kansas (the "City"), has stated its inten- ion to acquire fire fighting equipment to be used by the ire department of the City ("the "Project") and to issue eneral obligation bonds of the City to pay the cost of the roject; and WHEREAS, notice of the governing body's intention as published in the Salina Journal on November 25, 1983, nd December 2, 1983; and WHEREAS, no petition protesting the Project and he issuance of the bonds and signed by any qualified elec- ors of the City was filed within 60 days of the last publi- ation of the notice of the governing body's intention; and WHEREAS, all legal requirements pertaining to said roject have been complied with and the City has entered nto a contract for the acquisition of the Project, and the overning body of the City now finds and determines that the otal cost of the Project and related expenses will not be ess than $425,000; and WHEREAS, the governing body of the City has here- ofore advertised the sale of said bonds in accordance with aw and awarded the sale of said bonds to the lowest bidder; WHEREAS, it is necessary at this time to authorize he issuance of all of the $425,000 of bonds for the purpose Aforesaid.- NOW, oresaid.- NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING ODY OF THE CITY OF SALINA, KANSAS, AS FOLLOWS: Section 1. Definitions. In addition to the words End terms otherwise defined herein, unless the context shall learly indicate some other meaning, the words and terms efined in this Section shall for all purposes of this Ordi- ance have the respective meanings specified in this Sec - ion, to wit: "Bondholder" and "Holder" mean a Person in whose ame a Bond is registered in the Bond Register. "Bond Register" means the register and all accom- ying records kept by the Bond Registrar evidencing the istration, transfer and exchange of Bonds. "Bond Registrar" means the State Treasurer of ansas when acting in the capacity as registrar and transfer gent for the registration, transfer and exchange of Bonds, nd any successors thereto. "Bonds" and "Series F-230 Bonds" mean the General bligation Bonds, Series F-230, of the City herein autho- ized. "City" means Salina, Kansas. "Interest Payment Date" means the dates specified in Section 3 as a date on which an installment of interest cn the Bonds is due and payable. "Ordinance", "this Ordinance", "hereof", "herein", ' ereto" and similar terms shall refer to this Ordinance of e City authorizing the Bonds, as originally executed or as t may be supplemented or amended from time to time. "Outstanding" when used with respect to Bonds eans, as of the date of determination, all Bonds thereto - ore executed, authenticated and delivered under this Ordi- ance, except: (i) Bonds theretofore cancelled by the Bond Registrar or delivered to the Bond Reg- istrar for cancellation; and (ii) Bonds in exchange for or in lieu of which other Bonds have been authenticated and delivered pursuant to this Ordinance. "Paying Agent" means the State Treasurer of Kansas en acting in the capacity as paying agent for the payment the principal of, premium, if any, and interest on the nds and any successors thereto. -2- "Person" means any individual, corporation, part- ership, joint venture, association, joint-stock company, rust, unincorporated organization or government or any gency or political subdivision thereof. "Project" means acquiring fire fighting equipment be used by the fire department of the City. "Registration Date" means the effective date of gistration of a Bond as evidenced by the Bond Registrar in e Certificate of Authentication appearing on the Bond. "Regular Record Date" for the interest'payable on ny Interest Payment Date means the 15th day (whether or not business day) of the calendar month next preceding such nterest Payment Date. Section 2. Authorization of and Security for the onds. The governing body of the City of Salina hereby au- horizes and directs the issuance of the General Obligation onds, Series F-230, of the City in the principal amount of 425,000 for the purpose of paying the cost of the Project. The Bonds shall be general obligations of the ity, payable as to both principal and interest from ad va- lorem taxes which may be levied without limitation as to ate or amount upon all the taxable tangible property within he territorial limits of the City. The full faith, credit nd resources of the City are hereby irrevocably pledged for he payment of the Bonds and the interest thereon as the ame become due. Section 3. Description of the Bonds, Designation f Paying Agent and Bond Registrar. The Bonds shall consist f fully registered Bonds, without coupons, transferable to ubsequent owners only in the Bond Register maintained by he Bond Registrar as hereinafter provided. Each Bond shall e in the denomination of $5,000 or any integral multiple hereof not exceeding the principal amount of Bonds maturing n the year in which such Bond becomes due, as specified by he Holder of such Bond. The Bonds shall be numbered in a anner determined by the Bond Registrar. The Bonds shall be ated as of April 1, 1984, shall mature without option of rior payment, and shall bear interest at the rates per nnum, as follows: -3- MATURITY PRINCIPAL INTEREST DECEMBER 1 AMOUNT RATE 1985 $25,000 7.80% 1986 35,000 7.80% -3- The Bonds shall bear interest from the most recent nterest Payment Date to which interest has been paid in ull or, if no interest has been paid, from April 1, 1984. nterest on the Bonds at the rates aforesaid shall be pay- ble semiannually on April 1 and October 1 in each year, be - inning April 1, 1985. The State Treasurer of Kansas, opeka, Kansas, is hereby designated as the Paying Agent and s the Bond Registrar for the Bonds. Section 4. Method and Place of Payment of rinci al of and Interest on the Bonds. The principal of and interest (computed on the basis of a 360 -day year of twelve 30 -day months) on the Bonds shall be payable in such oin or currency of the United States of America as at the time of payment is legal tender for the payment of public d private debts. Payment of the interest on each Bond all be made by the Paying Agent on each Interest Payment Bate to the Person appearing as the Holder thereof in the Bond Register at the close of business on the Regular Record Bate next preceding said Interest Payment Date, by check or raft mailed to such Holder at the Holder's address as it pears in the Bond Register. The principal of each Bond all be payable to the Holder thereof upon the presentation f such Bond for payment and cancellation at its Maturity at e principal office of the Payi-ng Agent. Each Bond delivered under this Ordinance upon ansfer of or in exchange for or in lieu of any other Bond all carry the rights to interest accrued and unpaid, and accrue, which were carried by such other Bond. Section 5. Execution, Authentication and Delivery the Bonds. The Bonds shall be executed on behalf of the City by the facsimile signature of its Mayor and attested by e facsimile signature of its City Clerk, and shall have e seal of the City affixed thereto or imprinted thereon. la the event any officer whose signature or facsimile there- cE on any Bond shall cease to be such officer before e delivery of such Bond, such signature or facsimile ereof shall nevertheless be valid and sufficient for all rposes, the same as if such person had remained in office L-itil delivery. Any Bond may be executed by such persons as -4- 1987 35,000 7.80% 1988 40,000 7.800 1989 45,000 7.80% 1990 45,000 7,800 1991 50,000 7.90% 1992 50,000 8.15% 1993 50,000 8.40% 1994 50,000 8.60% The Bonds shall bear interest from the most recent nterest Payment Date to which interest has been paid in ull or, if no interest has been paid, from April 1, 1984. nterest on the Bonds at the rates aforesaid shall be pay- ble semiannually on April 1 and October 1 in each year, be - inning April 1, 1985. The State Treasurer of Kansas, opeka, Kansas, is hereby designated as the Paying Agent and s the Bond Registrar for the Bonds. Section 4. Method and Place of Payment of rinci al of and Interest on the Bonds. The principal of and interest (computed on the basis of a 360 -day year of twelve 30 -day months) on the Bonds shall be payable in such oin or currency of the United States of America as at the time of payment is legal tender for the payment of public d private debts. Payment of the interest on each Bond all be made by the Paying Agent on each Interest Payment Bate to the Person appearing as the Holder thereof in the Bond Register at the close of business on the Regular Record Bate next preceding said Interest Payment Date, by check or raft mailed to such Holder at the Holder's address as it pears in the Bond Register. The principal of each Bond all be payable to the Holder thereof upon the presentation f such Bond for payment and cancellation at its Maturity at e principal office of the Payi-ng Agent. Each Bond delivered under this Ordinance upon ansfer of or in exchange for or in lieu of any other Bond all carry the rights to interest accrued and unpaid, and accrue, which were carried by such other Bond. Section 5. Execution, Authentication and Delivery the Bonds. The Bonds shall be executed on behalf of the City by the facsimile signature of its Mayor and attested by e facsimile signature of its City Clerk, and shall have e seal of the City affixed thereto or imprinted thereon. la the event any officer whose signature or facsimile there- cE on any Bond shall cease to be such officer before e delivery of such Bond, such signature or facsimile ereof shall nevertheless be valid and sufficient for all rposes, the same as if such person had remained in office L-itil delivery. Any Bond may be executed by such persons as -4- No Bond shall be entitled to any security or bene- fit under this Ordinance or shall be valid or obligatory for any purpose unless and until such Certificate of Authentica- tion shall have been duly executed by the Bond Registrar by anual signature. Such executed Certificate of Authentica- ion upon any Bond shall be conclusive evidence that such and has been duly authenticated and delivered under this rdinance and that such registered owner has been entered on ecord in the Bond Register kept by the Bond Registrar. The ertificate of Authentication shall be deemed to have been m y executed if the Registration Date has been inserted and f it has been signed by any authorized officer or employee f the Bond Registrar, but it shall not be necessary that he same officer or employee sign the Certificate of Authen- ication on all of the Bonds that may be issued hereunder at ny one time. The Mayor and the City Clerk are hereby authorized nd directed to prepare and execute the Bonds in the manner ereinbefore specified, the City Clerk is hereby authorized nd directed to register the Bonds, and the Mayor and the ity Clerk are hereby authorized and directed to cause the onds to be registered in the office of the State Treasurer f Kansas as provided by law, and when the Bonds have been uly registered with the Bond Registrar, to deliver the onds to The First Securities Company of Kansas, Inc., Wichita, ansas, upon the payment of the aggregate principal amount of the onds plus accLueu 1"LeLC—z to the ante of payment and delivery, ogether with any premium. Section 6. Registration, Transfer and Exchange of t the actual time of the execution of such Bond shall be ity shall he proper officers to sign such Bond although at the origi- al office nal date of such Bond such persons may not have been such ransfers officers. be fully registered s to both The Bonds shall have endorsed thereon a Cer- rs in the ificate of Authentication substantially in the form herein- earer. fter set forth and which shall have the date of registra- ion inserted and shall be manually executed by the Bond egistrar. No Bond shall be entitled to any security or bene- fit under this Ordinance or shall be valid or obligatory for any purpose unless and until such Certificate of Authentica- tion shall have been duly executed by the Bond Registrar by anual signature. Such executed Certificate of Authentica- ion upon any Bond shall be conclusive evidence that such and has been duly authenticated and delivered under this rdinance and that such registered owner has been entered on ecord in the Bond Register kept by the Bond Registrar. The ertificate of Authentication shall be deemed to have been m y executed if the Registration Date has been inserted and f it has been signed by any authorized officer or employee f the Bond Registrar, but it shall not be necessary that he same officer or employee sign the Certificate of Authen- ication on all of the Bonds that may be issued hereunder at ny one time. The Mayor and the City Clerk are hereby authorized nd directed to prepare and execute the Bonds in the manner ereinbefore specified, the City Clerk is hereby authorized nd directed to register the Bonds, and the Mayor and the ity Clerk are hereby authorized and directed to cause the onds to be registered in the office of the State Treasurer f Kansas as provided by law, and when the Bonds have been uly registered with the Bond Registrar, to deliver the onds to The First Securities Company of Kansas, Inc., Wichita, ansas, upon the payment of the aggregate principal amount of the onds plus accLueu 1"LeLC—z to the ante of payment and delivery, ogether with any premium. Section 6. Registration, Transfer and Exchange of -5- onds. So long as any of the Bonds remain outstanding, the ity shall cause the Bond Register to be kept at the princi- al office of the Bond Registrar and all of the Bonds and ransfers and or exchanges thereof shall be fully registered s to both principal and interest in the names of the Hold- rs in the Bond Register and shall not be registered to earer. -5- Bonds may be transferred in the Bond Register only pon surrender thereof to the Bond Registrar duly endorsed or transfer or accompanied by a written instrument of Iransfer duly executed by the Holder thereof or his attorney r legal representative in such form as shall be satisfacto- y to the Bond Registrar. Upon any such transfer, the City hall execute and the Bond Registrar shall authenticate and eliver in exchange for such Bond a new Bond or Bonds, reg- stered in the name of the transferee, of any denomination r denominations authorized by this Ordinance in an aggre- ate principal amount equal to the principal amount of such ond, of the same Maturity and bearing interest at the same ate. Bonds, upon surrender thereof at the principal of - ice of the Bond Registrar, together with a written instru- ent of transfer duly executed by the Holder thereof or his ttorney or legal representative in such form as shall be atisfactory to the Bond Registrar, may, at the option of he Holder thereof, be exchanged for an equal aggregate rincipal amount of Bonds of the same Maturity, of any de- omination or denominations authorized by this Ordinance, nd bearing interest at the same rate. In all cases in which Bonds shall be exchanged or ransferred hereunder, the City shall execute and the Bond egistrar shall authenticate and deliver at the earliest practicable time Bonds in accordance with the provisions of his Ordinance. All Bonds surrendered in any such exchange r transfer shall forthwith be cancelled by the Bond Regis- trar. No service charge shall be made to any Bondholder for registration, transfer or exchange of Bonds, but the City or he Bond Registrar may make a charge for every transfer or xchange of Bonds sufficient to reimburse it or them for any ax or other governmental charge required to be paid with respect to such transfer or exchange, and such charges shall e paid before any such transfer or exchange shall be com- leted. The City and the Bond Registrar shall not be equired to transfer or exchange any Bond beginning on the ay following the Regular Record Date and ending at the lose of business on each Interest Payment Date. Section 7. Persons Deemed Owners of Bonds. The Ierson in whose name any Bond shall be registered shall be eemed and regarded by the City, the Bond Registrar and the aying Agent as the absolute owner thereof, whether such and shall be overdue or not, for the purpose of receiving .ayment therefor or on account thereof and for all purposes, d neither the City, the Bond Registrar nor the Paying Agent shall be affected by notice to the contrary. Payment f or on account of the principal of and interest on any and shall be made only to or upon the order of the Holder hereof or his legal representative. All such payments hall be valid and effectual to satisfy and discharge the iability upon such Bond, including the interest thereon, to he extent of the sum or sums so paid. Section S. Mutilated, Lost, Stolen or Destroyed onds. In the event any Bond shall become mutilated, or be ost, stolen or destroyed, the City shall, if necessary, ex - cute and the Bond Registrar shall authenticate and shall eliver a new Bond of like date and tenor as the Bond muti- ated, lost, stolen or destroyed; provided that, in the case f any mutilated Bond, such mutilated Bond shall first be urrendered to the Bond Registrar, and in the case of any ost, stolen or destroyed Bond, if the requirements of .S.A. 84-8-405 are met and if an indemnity bond and affida- it of loss are provided to the Bond Registrar and the City t the expense of the Holder. Such indemnity bond and affi- avit of loss must be sufficient, in the judgment of the and Registrar and the City, to protect the Bond Registrar nd the City from any loss which either of them might suffer f the Bond is replaced. In the event any such Bond shall ave matured, instead of issuing a substitute Bond the City ay pay or authorize the payment of the same without surren- er thereof. Upon the issuance of any substitute Bond, the ity and the Bond Registrar may require the payment of an mount sufficient to reimburse the City and the Bond Regis- rar for any tax or other governmental charge that may be mposed in relation thereto and any other reasonable fees nd expenses incurred in connection therewith. The provi- ions of this Section are exclusive and shall preclude (to he extent lawful) all other rights and remedies with re- pect to the replacement or payment of mutilated, lost, tolen or destroyed Bonds. Section 9. Cancellation and Destruction of Bonds pon Payment. All Bonds surrendered for payment, transfer r exchange shall be delivered to the Bond Registrar and, if of already cancelled, the Bond Registrar shall cancel such onds and record such cancellation in the Bond Register. hereafter, such cancelled Bonds shall be delivered to the ity. Section 10. Form of Bonds. The Bonds and the and Registrar's Certificate of Authentication to be ndorsed thereon shall be in substantially the form set orth in this Section. The Bonds may have endorsed thereon uch legends or text as may be necessary or appropriate to onform to any applicable rules and regulations of any -7- 1 1 overnmental authority or any custom, usage or requirement f law with respect thereto. GISTERED NUMBER terest Rate UNITED STATED OF AMERICA STATE OF KANSAS COUNTY OF SALINE CITY OF SALINA GENERAL OBLIGATION BOND SERIES F-230 Maturity Date Per Annum ISTERED HOLDER: Bond Date April 1, 1984 REGISTERED S CUSIP PLOYER IDENTIFICATION NUMBER OR SOCIAL SECURITY NUMBER: INCIPAL AMOUNT: DOLLARS IM The City of Salina, in the County of Saline, State f Kansas (herein called the "City"), for value received, hereby promises to pay to the Registered Holder identified bove, or registered assigns, on the Maturity Date identi- fied above, the Principal Amount identified above and to pay interest thereon at the Interest Rate specified above from he most recent Interest Payment Date to which interest has een paid in full or, if no interest has been paid, from pril 1, 1984, semiannually on April 1 and October 1 in each ear, beginning April 1, 1985. Interest on this Bond will be paid by check or raft mailed to the person in whose name this Bond (or one Dr more predecessor Bonds) is registered in the Bond Regis- ter maintained by the Bond Registrar at the close of busi- ess on the fifteenth day of the month next preceding each interest payment date (the Regular Record Date). Interest of punctually paid will be paid as otherwise provided in he ordinance authorizing this Bond (the "Ordinance"). The rincipal Amount of this Bond shall be payable to the Regis- ered Holder upon presentation and surrender hereof at the rincipal office of the State Treasurer of Kansas, in the ity of Topeka, Kansas. The full faith, credit and re- sources of the City are hereby irrevocably pledged for the rompt payment of the principal of and interest on this Bond s the same become due. The principal of and interest (com- uted on the basis of a 360 -day year of twelve 30 -day onths) on this Bond are payable in such coin or currency of he United States of America as at the time of payment is egal tender for payment of public and private debts. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF HIS BOND SET FORTH ON THE REVERSE HEREOF. SUCH PROVISIONS HALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH THIS BOND shall not be valid or become obligatory or any purpose or be entitled to any security or benefit nder the Ordinance until the Certificate of Authentication ereon shall have been dated and executed by the Bond Regis- rar. IT IS HEREBY DECLARED AND CERTIFIED that all acts, onditions and things required to be done and to exist Precedent to and in the issuance of this Bond have been done nd performed and do exist in due and regular form and man- or as required by the constitution and laws of the State of ansas, and that the total indebtedness of the City, in- luding this Bond and the series of which it is one, does of exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the governing body of the City f Salina, Kansas, has caused this Bond to be signed by fac- simile signature of its Mayor and attested by facsimile ignature of its City Clerk, the City's corporate seal to be rinted hereon and this Bond to be dated April 1, 1984. TTEST: CITY OF SALINA, KANSAS By City Clerk Mayor Registration No. 0322-085-040184-127 ERTIFICATE OF AUTHENTICATION EGISTRATION DATE: This Bond is one of the Bonds described in the ithin mentioned Ordinance. OFFICE OF THE STATE TREASURER OF KANSAS Bond Registrar By and Registrar and aying Agent: STATE TREASURER OF KANSAS [ON REVERSE SIDE] THIS BOND is one of an authorized series of fully egistered bonds of the City designated "General Obligation -10- onds, Series F-230", aggregating the principal amount of 425,000 (the "Bonds"), issued by the City for the purpose Df providing funds to pay the cost of acquiring fire ighting equipment to be used by the fire department of the City, under the authority of and in full compliance with the constitution and laws of the State of Kansas, including K.S.A. 10-101 to 10-132, inclusive, and K.S.A. 12-110(c), nd all laws amendatory thereof and supplemental thereto, nd pursuant to ordinances duly passed and proceedings duly nd legally had by the governing body of the City. THE BONDS are general obligations of the City, ayable as to principal and interest from ad valorem taxes hich may be levied without limitation as to rate or amount pon all taxable tangible property within the territorial imits of the City. THIS BOND is transferable only in the Bond Regis- er at the office of the Bond Registrar upon surrender of his Bond to the Bond Registrar duly endorsed for transfer r accompanied by a written instrument of transfer satisfac- tory to the Bond Registrar duly executed by the Registered older hereof or his attorney or legal representative, and hereupon a new Bond or Bonds in the same aggregate princi- al amount shall be issued to the transferee in exchange herefor, subject to the conditions as provided in the Ordi- ance. The Bonds for each maturity are issuable only in the orm of fully registered Bonds without coupons in the denom- nation of $5,000 or any integral multiple thereof. The egistered Holder of any Bond or Bonds may surrender the ame in exchange for an equal aggregate principal amount of onds of any authorized denomination in the manner and sub- ect to the conditions as provided in the Ordinance. No ervice charge shall be made for any such transfer or ex- hange, but, prior to any transfer or exchange, the Regis- ered Holder hereof shall pay to the City or the Bond Regis- rar an amount sufficient to reimburse it or them for any ax or other governmental charge required to be paid with espect to such transfer or exchange. The City, the Bond egistrar and the Paying Agent may deem and treat the person n whose name this Bond is registered as the absolute owner ereof for the purpose of receiving payment of, or on ac- ount of, the principal hereof and interest due hereon and or all other purposes. The following abbreviations, when used in the in- cription on the face of the within Bond, shall be construed s though they were written out in full according to appli- able laws or regulations. -11- EN COM -as tenants in common UNIF GIFT MIN ACT- Custodian N ENT -as tenants by the entireties (Cust) (Minor) T TEN -as joint tenants with right of under Uniform Gifts to survivorship and not as tenants Minors Act in common (State) Additional abbreviations may also be used though not in the list above (FORM OF ASSIGNMENT) FOR VALUE RECEIVED the undersigned does (do) reby sell, assign and transfer to (Name and Address) (Social Security or Taxpayer Identifying No.) he bond to which this assignment is affixed in the out- standing principal amount of $ , standing in the name of the undersigned on the books of the State Treasurer. he undersigned does (do) hereby revocably constitute and appoint attorney to transfer the said bond, on the books of said State Treasurer, with full power f substitution in the premises. Dated Name Account No. Signature (Sign Here Exactly as Name or Names Appear on the Face of the Certificate) (Signature Guarantee) -12- ------ --------- ------ - - ----- --- - - --- (FORM OF CLERK'S CERTIFICATE) TATE OF KANSAS ) ) SS. OUNTy OF SALINE ) I, D.L. Harrison, City Clerk of the City of alina, Kansas, do hereby certify that this Bond has been my registered in my office on , 19 SEAL] 1 1 WITNESS my hand and official seal. City Clerk -13- (FORM OF STATE TREASURER'S CERTIFICATE) OFFICE OF THE STATE TREASURER OF KANSAS I, JOAN FINNEY, Treasurer of the State of Kansas, hereby certify that a transcript of the proceedings lead - g up to the issuance of this Bond has been filed in my of- ce and that this Bond was registered in my office cording to law on , 19 WITNESS my hand and official seal. JOAN FINNEY State Treasurer of Kansas [ EAL] ------------------------------------------------------------ Section 11. Disposition of Bond Proceeds. All a crued interest and premium, if any, received from the sale oir the Bonds shall be deposited in the general obligation b nd fund held by the City Treasurer for the retirement of b nds of the City. The remaining balance of the proceeds derived from t e sale of the Bonds shall be deposited in a fund held by t e City Treasurer and shall be used solely for the purpose of paying the cost of the Project as hereinbefore provided. Section 12. Levy and Collection of Annual Taxes. T e governing body of the City shall annually make provision f r the payment of the principal of and interest on the B nds as the same become due by levying and collecting the n cessary taxes therefor in the manner provided by law. Section 13. Transfer of Funds to Paying Agent and t e Bond Registrar. The City Treasurer is hereby authorized -14- a d directed to withdraw from the general obligation bond f nd and forward to the Paying Agent sums sufficient to pay t e_principal of and interest on the Bonds as and when the s me become due and to pay the charges of the Paying Agent f r acting as paying agent in the payment of principal and i terest. In addition, the City Treasurer is hereby autho- r4.zed and directed to withdraw from the general obligation b nd fund and forward to the Bond Registrar sums sufficient t r pay the charges of the Bond gistrar. Sums sufficient to Registrar for acting as bond pay said charges shall be f rwarded to the Paying Agent and Bond Registrar over and -14- ove the amount of the principal of and interest on the inds. Section 14. Authorization of Agreement Between e City and the Bond Registrar. The Agreement between the ty and the State Treasurer of Kansas, in substantially the rm attached hereto, with respect to the duties of the ate Treasurer as Bond Registrar is in all respects hereby proved, authorized and confirmed and the Mayor and City erk are hereby authorized and directed to execute said reement for and on behalf of the City. Section 15. Effective Date. This Ordinance shall ke effect and be in full force from and after its publica- on in the official City newspaper. PASSED by the governing body of the City of Salina is 12th day of March , 1984. EAL) TEST: City Clerk L� Mayor -15-