6433 Temporary Notes IssuanceCONSOLIDATED-SALINA
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( Published in The Salina Journal April 1q)1960)
ORDINANCE NO. 6133
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE PERIODIC ISSUANCE
OF TEMPORARY NOTES OF THE CITY OF SALINA, KANSAS, NOT TO EXCEED
A TOTAL AMOUNT OF $114302000.00 TO PAY THE COST OF ACQUIRING
PROPERTY OR INTERESTS IN PROPERTY AND OF IMPROVING PROPERTY FOR
OFF-STREET PARKING FACILITIES, AS PROVIDED IN RESOLUTIONS NOS.
22642 2289 AND 2292, INCLUDING CONSTRUCTION AND EQUIPMENT OF
BUILDINGS THEREON AND TO PAY OTHER NECESSARY COSTS AUTHORIZED BY
CHAPTER 121 ARTICLE 6(a) OF THE 1959 SUPPLEMENT TO THE GENERAL
STATUTES OF KANSAS 1949, IN CONNECTION WITH THE SALINA OFF-STREET
PARKING FACILITIES.
WHEREAS, by proper legal proceedings the Board of Commissioners
of the City of Salina, Kansas, has heretofore duly authorized the
undertaking of acquiring and improving property for off-street park-
ing facilities, as provided in Resolutions Nos. 2264, 2289 and 2292,
which acquisition and improvements are to be paid for by the issu-
ance and sale of bonds as provided by law and which acquisition
and improvements are authorized by Chapter 12, Article 6(a) of the
1959 Supplement to the General Statutes of Kansas 1949; and,
WHEREAS, all legal requirements pertaining to such improve-
ments have been complied with and preliminary planning, engineer-
ing, and land acquisition work has progressed to a point where
the issuance of temporary notes of said city is and will be re-
quired to finance the same as authorized by G. S. 1959 Supp.
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 property or interests in property and of improving property
for off-street parking facilities, including construction and equip-
ment of buildings thereon and to pay other necessary costs author-
ized by Chapter 12, Article 6a of the 1959 Supplement to the Gener-
al Statutes of Kansas 1949, in connection with said off-street park-
ing facilities described in the preamble to this ordinance, there
shall be issued and hereby are authorized temporary notes of the
City of Salina, Kansas, in a total aggregate principal amount not
exceeding $1,430,000.00, the estimated cost and expense of the
improvement.
Section 2. The temporary notes authorized by Section 1 of
this ordinance shall be issued from time to time as required dur-
ing the progress of said work, shall be authorized by resolution,
shall be dated as of the date when issued respectively, shall bear
interest at a rate not exceeding six (6%) per cent, payable semi-
annually, shall mature not later than the due date of the bonds
to be issued by said city as provided in Chapter 12, Article 6a14
of the 1959 Supplement to the General Statutes of Kansas 1949, or
four (4) years from the date of said notes, whichever is sooner,
shall be callable for payment in advance of maturity, but not be-
fore June 1, 1961, 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.
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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:
$ No.
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SAL INA
Temporary Note
Series OSP - 100
KNOV 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 permanent
bonds are issued in lieu, with interest thereon from the date
of this note, at the rate of _^per cent ( %) per annum,
payable semi-annually hereafter until the said 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 pay-
ment at any time before maturity, but not before June 1, 1961,
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 improvements
duly and regularly authorized in connection with the Salina Off -
Street Parking Facilities 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 par-
ticularly Section 12-6a01 to 6a18 and Section 10-123 of the 1959
Supplement to the General Statutes of Kansas 1949.
And it is hereby declared and certified that all acts, pro-
ceedings, 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 constitution 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 es-
timated cost and expense of said improvement; and that the total
indebtedness of the City of Salina, Kansas, including this note,
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does not exceed any statutory or constitutional 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 , 19
«tip
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 ,
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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 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 proceedings of
such sale to the payment of the actual cost and expense of the
Salina Off -Street Parking Facilities described in the preamble of
this ordinance.
Section 5. This ordinance shall take effect and be in force
from and after its publication in the official city paper.
Introduced: April 5. 1960
Passed: April 12, 1960
Mayor
Attest:
H. E. Peterson, City Clerk
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