6109 Author Temp Note Issue1
First Read
Passed
First Published�t�_�y�%jam/
ORDINANCE NO.
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 $1,840,000, 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, by proper legal proceedings the Board of Commis-
sioners of the Cityaf Salina, Kansas, has heretofore duly author-
ized the undertaking of said flood control program, which improve-
ments and the damages occasioned by reason thereof are to be paid
for by the issuance of internal improvement general obligation
bonds, which improvements are authorized pursuant to authority
granted by Chapter 12, Article 635 to 646(a) of the Kansas General
Statutes 1949 and amendments thereof, 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. 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 preamble to this ordin-
ance, there shall be issued and hereby are authorized temporary
notes of the City of Salina, Kansas, in a total aggregate principal
amount not exceeding $1,840,000, the estimated cast and expense of
the improvement.
Section 2. The temporary notes
authorized by Section 1 of
this ordinance shall be issued from
time to time as required during
the progress of said work, shall be
authorized by resolution, shall
be dated as of the date when issued
respectively, shall bear interest
at a rate not exceeding six (6%) per
cent, payable semi-annually,
shall mature not later than the due
date of the first installment
of the internal improvement bonds to
be issued by said city as pro-
vided in Chapter 12, Article 644, of
the Kansas General Statutes of
1949 and amendments thereof, or four
(4) years from the date of said
notes, whichever is sooner, shall be
callable for payment in advance
of maturity in the manner hereinafter
and shall be redeemed and cancelled
specified in the form of note
before or at the time permanent
bonds are issued in lieu thereof.
1
1
Section 3. That each of the temporary notes provided for
by this ordinance and the certificates thereon shall be in sub-
stantially the following form:
911
UNITED STATES OF APERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
Temporary Note
No.
KNOW ALL PVIEN BY THESE PRESENTS: That the City of Salina,
in the County of Saline, State of Kansas, for value received,
hereby acknowledges itself to be indebted and promises to
pay to the bearer the sum of
Dollars ($ ) in lawful money of the United States
of America, o—n tReday of , 19 , or
prior thereto if caII-e3—Tor payment as s herei.na ter provided,
being redeemable and cancelable before or at the time perman-
ent 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 herea ter until the saTT-
principal sum shall have been paid, both principal and inter-
est 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 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 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 ordinances
of said city and of the Constitution and laws of the State of
Kansas, and particularly Section 12-635 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 constitu-
tion 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 of said improvement; and that the total indebtedness
of the City of Salina, Kansas, including this note, does not
1
J
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
(SEAL) Mayor
Attest:
City Cer
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
(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
19
day of
(SEAL)
Auditor of the State of
Kansas
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
1
necessary, as, if, and when the issuance of each such note is auth-
orized by a resolution of the governing body of said city, and to
sell and deliver the same at private sale, at par and accrued in-
terest, according to law to the lawful purchaser thereof upon re-
ceipt of the purchase price and apply the proceedings of such sale
to the payment of the actual cost and expense of the flood control
improvements 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 November .27, 1956
Passed December 4, 1956
A. W. Hawkes r
A. Iq. Haw es, r ayor
Attest:
H. E. Peterson
H. E. Peterson, City Clerk
J
1