8245 Authorize Temp NotesATED-SALINA ORDINANCE NUMBER 8245
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(Published in The Salina Journal 1972)
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AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF TEMPORARY
NOTES OF THE CITY OF SALINA, KANSAS IN THE SUM OF $24,000.00 TO PAY PART OF THE
COST OF CONSTRUCTING A PUBLIC BUILDING FOR CULTURAL EVENTS.
WHEREAS, the Board of Commissioners of the City of Salina, Kansas
has approved and directed payment by the City of part of the cost of constructing
a public building for cultural events; and
WHEREAS, the City is authorized by Section 13-1024a, K.S.A. 1970 Supp.
to issue its bonds to pay part of the cost of constructing said public building, and
WHEREAS, work on said public building has begun and the issuance of
temporary notes by the City in accordance with Section 10-123, K.S.A. 1970 Supp.
is required to finance and pay the City's share of the cost of constructing said
public building, NOW, THEREFORE:
BE IT ORDAINED by the Board of Commissioners of the City of Salina, Kansas:
Section 1. That for the purpose of paying part of the cost of
constructing a public building for cultural events there shall be issued and
are hereby authorized one or more temporary notes of the City of Salina, Kansas
in the principal amount not exceeding $100,000.00.
Section 2. The temporary note or notes authorized by Section 1 of
this Ordinance shall be authorized by Resolution, shall be dated as of the date
when issued, shall bear interest at a rate not exceeding eight per cent (80)
per annum, payable semiannually, shall mature not later than the date of the
first installment of the bonds authorized to be issued by said City under
Section 13-1024x, K.S.A. 1970 Supp. or four (4) years from the date of said
note or notes, whichever occurs first, shall be callable for payment in advance
of maturity in the manner hereinafter specified in the form of note and shall be
redeemed and cancelled before or at the time permanent bonds are 'issued in lieu
thereof.
Section 3. That each of the temporary notes provided for by this
ordinance shall be in substantially the following form:
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UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
TEMPORARY NOTE
KNOW ALL MEN BY THESE PRESENTS:
Series
Number
That the City of Salina, in the County of Saline, State of Kansas, for value
received, hereby acknowledges itself to be indebted and promises to pay the
bearer the sum of DOLLARS
($ ) in Lawful money of the United States of America, on the
day of , 197 , or prior thereto if called for payment
as hereinafter provided, being redeemable and cancelable before or at the time
permanent bonds are issued in lieu thereof, with interest thereon from the date
of this note at the rate of PER CENT ( %)
per annum, payable semiannually hereinafter until the principal sum shall have
been paid, both principal and interest of this note being payable at the office
of the City Treasurer of the City of Salina, Kansas; and the City of Salina,
Kansas is held and firmly bound by these presents and its faith and credit
are hereby irrevocably pledged for the prompt payment of said principal and
interest at maturity. The said City may call this note for payment at any time
before maturity by serving written notice to that effect on the holder of this
note or by publication once in a newspaper of general circulation in said City
at least seven (7) days before the date of such call, and may redeem this note
on the date of such call for the amount of the principal and interest accrued
to that date and interest shall cease on such date.
This note is issued by the City of Salina, Kansas, for the purpose of paying
part of the accrued costs of constructing a public building for cultural events
and is issued by authority of and in full compliance and conformity with the
provisions, restrictions and limitations of the resolutions and ordinances of
said City and of the Constitution and laws of the State of Kansas, and
particularly Section 10-123 and Section 13-1024a, K.S.A. 1970 Supp.
And it is hereby declared and certified that all acts, proceedings, conditions
and things required to be done and to exist precedent to the issuance of this
note have been properly had and 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; that this note is negotiable and constitutes a general obligation of
said City; that this note and previously issued and outstanding notes and bonds
issued for said improvement do not exceed the estimated cost and expense said
improvement; and that the total indebtedness of the City of Salina, Kansas,
including this note, does not exceed any constitutional or statutory limitation.
IN TESTIMONY WHEREOF, the City of Salina, in the State of Kansas, by its
governing body, has caused this note to be signed by its Mayor, attested by
its City Clerk, and its corporate seal to be hereto affixed this day of
, 197
(SEAL)
Attest:
City Clerk
MAYOR
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STATE OF KANSAS )
) SS
COUNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina, Kansas,
do hereby certify that this temporary note has been duly registered in my
office according to law.
Witness my hand and the seal of said City this day of
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STATE OF KANSAS )
) SS
COUNTY OF SHAWNEE )
City Clerk
I, the undersigned, Auditor of the State of Kansas, do hereby
certify that this note has been registered in my office according to law.
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Witness my hand and official seal this day of
Auditor of the State of Kansas
SALINA
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Section 4. The Mayor and City Clerk of the City of Salina, Kansas
are hereby directed, authorized and empowered to prepare and execute each of
the notes described in this ordinance and to do all things necessary as, if
and when the issuance of each such note is authorized by a resolution of the
governing body of said City, and to sell and deliver the same at private sale
at par and accrued interest, according to law, to the lawful purchaser thereof
upon receipt of the purchase price, and to apply the proceeds of such sale to
the payment of part of the actual cost and expense of constructing the public
building described in the preambles of this ordinance.
Section 5. This ordinance shall take effect and be in force from
and after its publication in the official city newspaper.
Introduced: August 21, 1972
Passed: August /28, 1972
Jack Weisgerber, ayor
(SEAL)
Attest:
f�L�l2�xr1--J
D. L. Harrison, City Clerk