81-8839 GO Bonds1
ORDINANCE NO. 81-1839
OF
THE CITY OF SALINA, KANSAS
PASSED
FEBRUARY 11, 1981
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5836,000
INTERNAL IMPROVEMENT BONDS
SERIES P-228
DATED MARCH 1, 1981
(PUBLISHED a. __ 7 —, 1981)
ORDINANCE NO. 8] -839
AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND
DELIVERY OF $836,000 PRINCIPAL AMOUNT OF INTERNAL IMPROVEMENT
BONDS, SERIES P-228, OF THE CITY OF SALINA, KANSAS, FIR THF PUR-
POSE OF PROVIDING FUNDS TO PAY THE COST OF CONSTRUCTION OF STORM
SEWERS, WATER ?MAINS, SANITARY SEWERS AND STREET IMPROVEMENTS; PRE-
SCRIBING THE FORM AND DETAILS OF SAID BONDS; AND PROVIDING FOR THE
LEVY AND COLLECTION OF THE NECESSARY ASSESSMENTS AND TAXES FOR THE
PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON SAID BONDS AS
THE SAME BECOME DUE.
WI;SRF.AS, pursuant to K.S.A. 12-6a61 et seq, and other
provisions of the lays of the State of Kansas applicable thereto,
by proceedings duly had, the governing body of the City of Salina,
Kansas (herein called the "City"), has proceeded with construction
of storm severs, water mains, sanitary sewers and street
improvements, said improvements being more fully identified as
Project 79-654 (Street and Utility Improvements), Project 79-655
(Street and Utility Improvements), Project 8R -659 (Street
Improvements) and Project 80-663 (Street Improvements).
WHEREAS, all legal requirements pertaining to said im-
provements have been complied With, and the governing body of the
City now, finds and determines that the total costs of said im-
provements and related expenses are $1,009,099.08, part of said
costs to be paid by the City at large and part to be paid by
special assessments against the property benefited, which have
been duly levied and assessed against the lots, pieces and parcels
f land liable for the special assessments for said improvements;
and
WHEREAS, the owners of said lots, pieces and parcels of
and liable for special assessments as aforesaid, within the
eriod specified, have paid $173,099.08 in cash on account of said
pecial assessments, leaving the balance of the total cost of said
mprovements, to wit, the sum of $836,000, as the cost of said
improvements to be paid by the issuance of bonds of the City; and
WHEREAS, the governing body of the City is authorized by
law to issue general obligation bonds of the Citp to pay the
npaid costs of said improvements; and
WKEREAS, the governing body of the City has heretofore
dvertised the sale of said bonds in accordance with law and
warded the sale of said bonds to the lowest bidder; and
WHEREAS, the governing body of the City now deems and
inds it necessary to authorize the issuance of said bonds for de-
livery to the purchaser;
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF
HE CITY OF SALINA, KANSAS, AS FOLLOWS:
' ��.�#..i�Il_I • �ui�i?.�3 Qn Q�_�Il�S�1LL�Y_�L�g_BQdlds.
For the purpose of providing funds to pay the cost of construction
of storm severs, Water mains, sanitary sewers and street
improvements, there shall be issued and are hereby authorized and
directed to be issued the Internal Improvement Bonds, Series
-228, of the City in the principal amount of $836,000 (herein
called the "Bonds").
The Bonds shall be payable as to both principal and in-
terest from ad valorem taxes which may be levied without limita-
tion as to rate or amount upon all the taxable tangible property,
real and personal, within the territorial limits of the City. The
full faith, credit and resources of the City are hereby ir-
revocably pledged for the prompt payment of the Bonds and the in-
terest thereon as the same become due.
Se=2n-2. Des cr ; on�g-f_1-41 Desi Desi!2=12-0_21
vino Aaent. The Bonds shall consist of negotiable coupon Bonds,
numbered from 1 consecutively upward, Bond numbered 1 being in the
denomination of $1,000 and the remainder of the Bonds beins in the
denomination of $5,000 each. All of the Bonds shall be dated
March 1, 1981, shall become due serially on March 1 in the
respective years, without option of prior payment, and shall bear
interest from their date at the respective rates per annum, as
follows:
PRINCIPAL INTEREST
XU$ COUNT__ �RAZE_
1982 $71,000 8.00%
1983 85,000 8.00%
1984 85,000 8.00%
1985 85,000 8.00%
1986 R5,000 8.00%
1987 85,000 7.50%
1988 85,000 7.50%
1989 85,000 7.60%
1990 85,000 7.70%
1991 85,000 7.80%
Interest on the Bonds at the rates aforesaid shall be
payable semiannually on March 1 and September 1 in each year, be -
inning on March 1, 1982. Both principal of and interest on the
Bonds shall be payable at the office of the State Treasurer, in
he City of Topeka, Kansas (herein called the "Paying Agent").
e=on 3 • Redem 1341L2f.-$2adPr o to-v1L=1Jt1, The
Bonds shall not be subject to redemption prior to their respective
dates of maturity set forth in Section 2.
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Sec112.0 4. !!&t14A_5f_. ecutj2 _2f_the.B0Il1Z• Each of
the Bonds shall bear the manual or facsimile signature of the
Mayor, shall be attested by the manual or facsimile signature of
the City Clerk and shall have the seal of the City affixed thereto
or imprinted thereon. Interest coupons shall be attached to the
Bonds representing the interest thereon, which interest coupons
shall bear the facsimile signatures of the Mayor and City Clerk of
the City.
Section 5. ,Form 0-Bo_Di,. Each of the Bonds and the
certificates and interest coupons affixed or annexed thereto shall
be in substantially the following form:
(FORM OF BOND)
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NO.
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
INTERNAL IMPROVEMENT BOND
SERIES P-228
THE CITY OF SALINA, SALINE COUNTY, KANSAS (herein called
he "City"), for value received, hereby acknowledges itself to be
indebted and promises to pay to the bearer the sum of
THOUSAND DOLLARS
n the first day of March, 19_, and to pay interest thereon from
'he
date hereof at the rate of percent (_ R) per annum,
ayable semiannually on March 1 and September 1 in each year, be -
inning on Match 1, 1982, until said principal sum shall have been
'
aid, upon presentation and surrender of the interest coupons
ereto annexed as said coupons severally become due. Both princi-
'
al of and interest on this Bond shall be payable in lawful money
f the United States of America at the office of the State
reasurer in the City of Topeka, Kansas (the "Paying Agent"). The
ull faith, credit and resources of the City are hereby ir-
evocably pledged for the prompt payment of the principal of and
nterest on this Bond as the same become due.
THIS BOND is one of an authorized series of negotiable
oupon Bonds of the City numbered from 1 consecutively upward,
esignated "Internal Improvement Bonds, Series P-228," of like
ate and tenor, excepting number, denomination, interest rate, and
aturity, aggregating the principal amount of $836,000 (herein
alled the "Bonds"), issued by the City for the purpose of provid-
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ri
ing funds to pay the cost of construction of storm sewers, water
mains, sanitary severs and street improvements, under the author-
ity of and in conformity with the provisions, restrictions and
limitations of the constitution and laws of the State of Kansas,
including K.S.A. 10-101 to 10-132, inclusive, K.S.A. 12-6aQ1 to
12-6a17, inclusive, and all laws amendatory thereof and supplemen-
tal thereto.
IT IS HEREBY DECLARED AND CERTIFIED that all acts, con-
ditions and things required to be done and to exist precedent to
and in the issuance of this Bond have been 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 the City, including this Bond and the series of
which it is one, does not exceed any constitutional or statutory
limitation.
IN WITNESS WHEREOF, the governing body of the City of
Salina, Kansas, has caused this Bond to be signed by the facsimile
signature of its Mayor, attested by the facsimile signature of its
City Clerk, its corporate seal to be affixed hereto or imprinted
hereon, the interest coupons attached hereto to be executed with
the -facsimile signatures of said officers and this Bond to be
dated this first day of "larch, 1901.
ATTEST:
(facsimile)
City Clerk
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acsimile)__'
Mayor
(FORM OF COUPON)
(First coupon due
March 1, 1982)
THE CITY OF SALINA,
KANSAS, promises to pay to the bearer
the amount shown hereon in lawful money
of the United States of America, at the
office of the STATE TREASURER, Topeka,
Kansas, being interest due on that date
on its INTERNAL IMPROVEMENT BOND,
SERIES P-228, dated March 1,
1981.
Mayor
ATTEST:
City Clerk
On
1, 19
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Bond No.
Coupon No.
Re4istration No. 1-0381-D85-013
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(FORM OF CLERK'S CERTIFICATE)
TATE OF KANSAS )
) SS.
OUNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina,
ansas, hereby certify that the within Bond has been duly regis-
ered in my office according to law•.
WITNESS my hand and official seal this
M7C
City Clerk
(F3RM OF STATE TREASURER'S CERTIFICATE)
OFFICE OF THE STATE TREA. U ER,_TS ATE OF KANSAS
I, Joan Finney, Treasurer of the State of Kansas, do
hereby certify that a full and complete transcript of the pro-
ceedings leading up to the issuance of the within Bond has been
filed in my office, and that this Bond and the coupons attached
thereto were duly registered in my office according to law this
WITNESS my hand and official seal.
State Treasurer of Kansas
By_____
Assistant State Treasurer
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912=122 6- EX2=10n ajLd Delivery of the_BQIIda- The
Mayor and City Clerk are hereby authorized and directed to prepare
and execute the Bonds in the manner hereinbefore specified, to
cause said Bonds to be registered in the office of the City Clerk
nd in the office of the State Treasurer of Kansas as provided by
law and, when duly executed and registered, to deliver said Bonds
to ____!Lt�111_�.C.41 G� � _ , the original purchaser
hereof, on payment of the purchase price.
Section 7. 21A292M_Qf Bond p=QceedZ. All accrued
nterest and premium, if any, received from the sale of the Bonds
hall be deposited in the general obligation bond fund.
The balance of the proceeds derived from the sale of the
Bonds shall be deposited in the City treasury and shall be used
and expended solely for the purpose of paying the cost of the
improvements hereinbefore described.
q1s on g - I2_vY_2II"2llectIO _2;L_AaQMA1Taxes and
§sessme=. The governing body of the City shall annually make
rovision for the payment of principal of and interest on the
onds as the same become due by levying and collecting the
ecessary taxes and assessments therefor in the manner provided by
aw,
■
1
!Leoff•T_ �of_F �s Y�D� A3e� The
Treasurer of the City is hereby authorized and directed to with-
draw from the general obligation bond fund and forward to the
Paying Agent sums sufficient to pay both principal of and interest
on the Bonds as and when the same become due, and also to pay the
charges of the Paying Agent for acting as fiscal agent in the pay-
ment of said principal and interest, and said charges shall be
forwarded to the Paying Agent over and above the amount of the
Principal of and interest an the Bonds,.
Section 10. Effect ve_2jta,. This Ordinance shall take
effect and be in full force from and after its publication in the
official City newspaper.
PASSED by the Governing Body of the City of Salina,
Kansas, this 21rd day of February, 1981.
APPROVED:
[SEAL] Mayor
,TTEST:
City clerk'A
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