6535 Temporary NotesD
n
(Published in the Salina Journal June 14 ' 1961)
ORDINANCE NO. 6535
AN ORDINANCE AUTHORIZING AND PROVIDING FOR,/'THE PERIODIC ISSUANCE
OF ADDITIONAL TEMPORARY NOTES OF THE CITYfOF SALINA, KANSAS, NOT
TO EXCEED A TOTAL AMOUNT OF $460,40&,Q6 -"AS PER AMENDED ESTIMATE
TO PAY THE COST OF ACQUIRING BY PURCHASE AND CONDEMNATION LANDS
AND EASEMENTS NECESSARY FOR THE SALINA FLOOD CONTROL SYSTEM AND
TO PAY FOR DAMAGES ALLOWED AND INJURY TO PROPERTY AND TO PAY THE
OTHER NECESSARY COSTS OF MATERIAL FURNISHED, SERVICES RENDERED
AND LABOR PERFORMED IN CONNECTION WITH SAID FLOOD CONTROL SYSTEM.
WHEREAS, Ordinance No. 6109, duly passed on December 4, 1956,
authorized the issuance of temporary notes not to exceed a total
sum of $1,840,000.00; and,
WHEREAS, by Resolution No. 2504, duly approved and adopted
on May 9, 1961, an amended report and cost estimate of the City
Engineer of Salina, Kansas, increasing the estimated cost of said
flood control project from $1,840,000.00 to $2,300,000.00, was
duly approved and said amended report has been duly approved by
the State Corporation Commission of the State of Kansas; and,
WHEREAS, continued work on said flood control improvement
plan is continuing to the point where the issuance of temporary
notes of said City is and will be required to finance the same as
authorized by G. S. 1949, 10-123, and amendments thereof:
NOW, THEREFORE, be it ordained by the Board of Commissioners
of the City of Salina, Kansas:
Section 1. That for the purpose of paying the cost of acquir-
ing by purchase and condemnation lands and easements necessary for
the Salina Flood Control System and to pay for damages allowed and
injury to property and to pay the other necessary costs of material
furnished, services rendered and labor performed in connection with
said flood control system described in the preambles to this ordi-
nance, there shall be issued and hereby are authorized temporary
notes of the City of Salina, Kansas, in a total aggregate principal
amount not exceeding $460,;096-:0®, said sum representing the esti-
mated additional cost and expense of the improvement as reflected
by the City Engineer's amended report and cost estimate.
Section 2. The temporary notes authorized by Section 1 of
this ordinance shall be issued from time to time as required during
the progress of said work, shall be authorized by resolution, shall
be dated as of the date when issued respectively, shall bear inter-
est at a rate not exceeding six per cent (6%), payable semi-annually,
shall mature not later than the due date of the first installment
of the internal improvement bonds to be issued by said City as pro-
vided in Chapter 12, Article 644 of the Kansas General Statutes of
1949 and amendments thereof, or four (4) years from the date of
said notes, whichever is sooner, 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 and the certificates thereon shall be in substan-
tially the following form:
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u
$ No.
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
Temporary Note
KNOW ALL MEN BY THESE PRESENTS: 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 to the bearer the sum of
Dollars ($ ) in lawful money of the United States of
America, on the day of , 19 , or
prior thereto if called for payment as hereinafter provided,
being redeemable and cancelable before or at the time perma-
nent bonds are issued in lieu, with interest thereon from the
date of this note, at the rate of per cent (-7.) per
annum, payable semi-annually hereafter until the said prin-
cipal sum shall have been paid, both principal and interest
of this note being payable at the office of the City Treasu-
rer 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 be-
fore 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 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 the actual accrued unpaid costs of im-
provements duly and regularly authorized in connection with
the Salina Flood Control System and is issued by authority of
and in full compliance and conformity with the provisions,
restrictions and limitations of the resolutions and ordinan-
ces of said City and of the Constitution and laws of the
State of Kansas, and particularly Section 1.2-635 to 646(a)
and Section 10-123 of the General Statutes of 1949 and
amendments thereof.
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 laws and Consti-
tution 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 esti-
mated cost and expense of said improvement; and that the
total indebtedness of the City of Salina, Kansas, including
this note, does not exceed any statutory or constitutional
limitation.
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1
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
, 19
Mayor
(SEAL)
Attest:
City Clerk
State of Kansas )
ss
Saline County )
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 this said City, this
day of , 19
City Clerk
(SEAL)
State of Kansas )
) ss
County )
I, the undersigned, Auditor of the State of Kansas, do
hereby certify that this note has been registered in my
office according to law.
Witness my hand and official seal this day of
19
Auditor of the State of Kansas
(SEAL)
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 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
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1
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 apply the proceeds of such
sale to the payment of the actual cost and expense of the flood
control improvements described in the preambles of this ordinance.
Section S. This ordinance shall take effect and be in force
from and after its publication in the official city paper.
Introduced: May 23, 1961
Passed: June 6, 1961
Attest:
LJ
1
City Clerk
Mayor