5747 Issue Revenue Bonds, Series PA+ t'
ORDINANCE NMER 5747
iPublished in the Salina Journal
1953)
AN ORDINANCE authorizing and directing the issuance of revenue bonds, Series "PA", of
the City of Salina, Saline County, Kansas in the principal sum of $30,000.00 for the
purpose of paying part of the cost of acquiring bmd within said city and improving
the same for off-street parking facilitiese
WEEMS, the City of Salina, Kansas, is a city of the first class; and
WEEREAS, the Board of Commissioners of the City of Salina, Kansas, heretofore duly
adopted and caused to be published that certain Resolution Number ._1_3665____• which was
a resolution determting (1) it to be advisable for, and of bene if t to, the City
of Salina, Kansas, to acquire certain lands hereinafter described and to improve the
same for off-street parking facilities
f (2) the aggregate amount of money to bee�cpended
for such acquisition and improvements and (3) that it is necessary to issue revenue
bonds of the said city, in the manner and form provided by law, for the purposeof pay-
ing a part of such aggregate cost;" and
AREAS, said Resolution was first published on the 15th day of December, 1952, and
no suit has been instituted in any enjoin court to oin or n
j any way contest the validity
of the proceedings of the governing body of the city under the provisions of Sections
23.1388, 13.1389, 13-1390 and 13-1391 in the 1951 Supplement to the general Statutes
of Kansas, 1949; and
WHEREAS, the Board of Commissioners of said city did duly adopt and cause to beduly
published that certain ordinance "providing for the appropriation and condemnation
of certain land within the City of Salina and for the improvement of the same for
j off-street parking facilities; and
WEEMS, said ordinance required the City Engineer to file plaza and specifications
for the improvement of the lands to be so acquired and a detailed estimate of the
cost of the acquisition of said land and the improvement thereof; and
WEEMS, said plans, specifications and the detailed estimate of the cost of such
acquisition and improvement has been filed with the City Clerk of said city; and
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WHEREAS, PROoeedings will be instituted to acquire the land in acid ordinance described
for the uses aforesaid; and
WfIEREpiS, contracts will be let for the improvement thereof in compliance with said
plans and specifications; and
and
WHEREAS, the acquisition of said land kka the improvement thereof will Dost a sum
not to exceed $60#000.00, being less than the detailed estimate, aforesaid; and
SEAS, the City of Salina, Kansas, has on hand available for such use the sum of
$30#000900; and
WHEREAS, it is necessary for said city to proceed to issue, sell and deliver revenue
bonds, Series "PA", to pay a part of the cost of said acquisition and improvements, as
aforesaid; and
WEEMS, no such bonds are now seatstanding or liens on the title to said land to be
so acquired, the revenue therefrom, or the revenues to be derived therefrom in the
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uses thereof as an off-street parking facility; and
30, NOW, TBEREFORE, BE IT ORDAINED by the Board of Commissioners of the City of
Salina, Kansas#
Section le That the foregoing recitals in this ordinance contained are hereby
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incorporated herein. That it is necessary to acquire Lots $1, 830 850 87 and the
North Half (W of Lot 89, all on Fifth Street in the Original Town (now City) of
Salina, Saline County, Kansas, being land within said city, and to improve the same as
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an off-street parking facility in said city in accordance with the plans, specifications
and estir_ates on file with and in the office of the City Clerk of said city, all of
the same being hereby approved by said Boards
Section 2e That #30,000*00 of the estimated cost of said acquisition and improve -
meat shall be defrayed from revenue naw on hand and legally applicable to payment
thereon.
Section 3e That the balance of #30,,000#00 of the cost of such acquisition and
improvement, as aforesaid, be paid by the issue and sale of off-street parking facility
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revenue bonds of the City of Salina, under the authority and the provisions of
Sections 13-1388, 13-1389, 13-1390 and 13-1391, 1951 Supplement to the General
Statutes of Kansas, 1949, and that for such $30,000.00 there shall be and are
hereby issued off-street parking facility revenue bonds in the City of Salina, Kansas,
in the aggregate sun of $30,000.00, as hereinafter provided.
Section 4. That said issue of revenue bonds shall consist of thirty (30) bonds,
each of the denomination of One Thousand ($1,000.00) Dollars, numbered one to thirty,
inclusive, due serially as hereinafter set forth, each and all bearing interest at
the rate of two per cent per annum, payable August 1 and February 1 of
each year after the effective Itear of said bonds, the first interest payment date
to be August 1, 1953; that interest coupons shall be attached to said bonds; and
said bonds shsill be due and payable as follows, to -wits
Bonds numbered 1 to 10, inclusive, in the aggregate sum of
$102000.00 being payable August 1, 1953,
Bonds lumbered 11 to 20, inclusive, in the aggregate sum of
$101000.00 being payable Fetruary 1, 1954,
Bonds numbered 21 to 30, inclusive, in the aggregate sum of
$10,000.00 being payable February 1, 1955;
provided alwshys, however, that the City of Salina, Kansas, expressly reserves the
right and option to call, redeem and pay all or any of such bonds for retirement
on the first day oP August of any year prior to the maturity thereof by written
notice of intention to do so delivered more than thirty (30) days prior to the
first day of August of said year to the Fiscal Agency of the State of Kansas and by
publication notice of said intention to do so once in the official state paper at
least thirty (30) days prior to said date, as aforesaid, and provided further that
said right, privilege and option of call and redemption so reserved shall be exercised
by calling said bonds in inverse numerical order•
Section & That said revenue bonds shall be signed by the Mayor and attested
by the City Clerk of the City of Salina, Kansas, and shall have the corporate seal
of said City thereto affixed, and the interest coupons of said bonds shall be signed
by the Mayor and the Clerk, aforesaid, provided, however, that the facsimile sign-
atures of said Mayor and City Clark may be lithographed or printed thereon, and both
the bonds and the coupons thereto attached shall be payable at the Fiscal Agency
of the State of Kansas, located in the Office of the State Treasurer of the State
of Kgnsas, in Topeka, Kansas, all as is provided by the laws of Kansas applicable
thereto.
Section 6. That said bonds shall be executed in the form and shall contain
certain recitals substantially as follows, to -wits
UNITED STATES OF AMERICA
$TATE OF KANSAS
COUNTY OF SALINE
i
CITY OF SALINA
OFF-STREET PARKING FACILITY REVENUE BONDS
$10000.00 SERIES "PA"
No
KNOW ALL MLN BY THESE PRESENTS:
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That the City of Salina, in the County of Saline, ttats of Kansas, hereby
acknowledges itself, for value received, to be indebti and
Promises to pay to the
bearer the sum of One Thousand Dollars
States on the let day of 01,000.00) in lawful money of the United
of, 19 s with interest thereon at the rate
per centum -M per annum, payable semi-annually on the first days
of August _aWIFebruary of each year after the date hereof until the said principal
sum shall have been paid, upon the presentation and surrender of the proper interest
coupon, hereto attached, bearing the facsimile signatures of the Mayor and Clerk of
said city, as they severally become due, and both principal and interest are payable
at the Fiscal Agency of the State of Kansas, at the office of the State Treasurer in
the City of Topeka, Kansas.
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That his bond is one of a series of revenue bonds in the total sum and amount
Of $30,000.00, consisting of thirty (30) bonds of like date, tenor, denomination
and interest rate, excepting serial number and maturity thereof, issued by the said
City of Salina, ZanBass to pay a part of the cost of acquiring certain lands and
improving the same as an off-street parking facility under and by virtue of the pro-
visions of Sections 13-1388, 13-1389, 13-1390 and 13 -
General Statutes of Kansas, 1949, and in compliance with land 9pursu51 antetonan ordinance
of said city, duly and legally adopted by the Board of Commissioners of to Cid of
Salina, Kansas, on the
of
in strict conformity with the po* Said visiona, restrictions and 3limitationsdofare theisro-d
visions of the 1951 Supplement to the General Statutes of Kansas, 1949, aforesaid*
That said bonds and interest thereon are to be paid from the net revenues received
from the operation of off-street parking facilities and in case such revenues are
insufficient, then any deficiency shall be paid from funds derived from on -street
parking meters. Said bonds have been registered in the office of the City Clerk
of the City of Salina, Kansas, and in the office of the Auditor of the State of
Kansas, and said bonds import absolute verity. All eonditibns precedent to the issuance
of skid bonds have been had and perfo rned and said bonds are negotiable.
are hereby declared to be a lien upon Lots 81, 83, 85, 87 and the North Half id bonds
of
Lot 89, all on Fifth Street in the Original To ( ) line ty,
Imsas, and the improvements thereon and all revenues derivedff from he onas peration tY�
thereon of off-street parking facilities. In to event the revenues to be derived
from the operation thereon of said facilities are insufficient to pay the principal
and interest to accrue on said bonds, the the Board of Commissioners of the City of
Saline, Saline County, Kansas, shall make up any deficiency from revenues derived
from on -street parking meters.
The right and option to call this bond for payment and redemption on the first
day of August of any year is expressly reserved by the City of Salina, Kansas, and
such right and option shall be exercised by notice in writing duly delivered to
the Fiscal Agency of the State of Kansas at Topeka, Kansas, and b b
said intention arc �► do b notice Y publication of
Y published once in the official uttyxp, state
of the State of Kansas, not$ce by both publication and wri,ti Paper
thre t
irty (30A days prior to the first day of August of said year in which saigiven dooption
to call is exercised and that upon the exercise of said option to call in the manner
and time aforesaid, if this bond is not presented forpayment
August in said year in which said option to call is exercised,othenet erin day of
' vent thereon as evidenced b interest
y the interest coupons hereto attached, shall cease and
determine as of that said date.
IN WITNESS WHEREOF the said City of Salina, Kansas, by its Board of Commis#ioners
has caused this bond to be signed by Its Mayor, attested by its City Clerk, its
corporate seal to be affixed thereto, and this bond is dated February 1, 1953.
SEAL
( ) 4or
Atteett
City Clerk
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Section 7. That to interest coupons to be attached to said bonds shall be
substantially in the following form, to -wits
I
INTEREST COUPON
j -
No.
On the day of , 1 the City of Salina, Kansas,
ori l l pay to ear er ( }
Dollars, lawful money of the United State of America, to be deRved sole y from the
revenue produced from off-street parking facilities and from on -street parking
meters, at the office of the State Treasurer, Topeka,, Kansas No , being six-monthst
interest on its Off -Street
parking Reaenue Bond No,
February 1, 1953. — , dated
®ITY OF SALIKA, KANSAS
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(SEAL) Ward E. Barcafer, Mayor
Attests
City Clerk
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i the stub of said interest coupons, and each of theme, to be in the usual, customary
and statutory form.
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Section 8. In order to pay the principal and interest of said bonds at
maturity or on call or redemption thereof, it shall be and it is hereby provided
that all revenues to be derived from the operation of the lands aforesaid, as an
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off-street parking facility shall be paid into treasury of the muni.oipality andkept
in a separate fund, being the present Parking Meter Fund of said city; that said
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revenue shall be used only for the purpose of paying the cost of operating off-
street parking facilities and the maintenance cost thereof, including the cost of
installation, maintenance and repair of parking meters therein and thereon and all
revenues over and above those necessary for the above stated
purposes and expenses
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shall be used for the retirement of the revenue bonds issued hereunder and for the
payneht of interest thereon.
jSection 9. In consideration of persons, firms or eo ra tions
1� paying and here-
after owning the bonds and interest coupons, aforesaid, or any of them, the said
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City of Salina does hereby with any such purchaser or owner of said bonds or each,
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any or all of them, covenant and agree.
(a) That the City of Salina, Kansas, I$ now maintaining on the streets
within the said city parking meters, in excess of 400rki
and will continue so to maixtain,keep and repair and operating said
s
j meters under conditions so that the same will
the event that the revenue to be derived from Produce
edoperationuof off-
street parking facilities as made and provided in Section 8 hereof
are insufficient to pay the bonds hereby issued and the interest to
accrue thereon, as aforesaid, that then the Board, of Commissioners
of said city gill wake available sufficient revenues derived from
on -street parking meters so as to full
interest to accrue thereon*
y key said bonds and the
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(b) That said on -street parking meters are now and have for more than
three (3) years last past produced a revenue foo the benefit of
said city in a sum in excess of $35,000.00 and that after deducting
the expense of the installation, maint4nance and repair thereof that
a sum in excess of $22,500.00 has remained for other uses as by law
ma4de and provided during each of the last preceding three (3} calendar
years.
(c) The issue of bonds herein provided for shall have
ference from and against the revenues to be derived from Priority
£ff-street
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Parking facilities and on -street parking meters as against
any subsequent issue of bonds issued for like purposes. That
said off-street parking facilities vAll be improved in oomp-
lianee with the PKt plans and specifications on file in the
Office of the City Clerk of the City of Salina, Kansas, and
j that the same will be kept in good repair and effectively
and effieiemtly operated until the bonds hereby issued and the
interest thereon are fully paid.
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(d) That the city shall not pledge, mortgage or sell said off-street
parking facilities or on -street parkin meters or
�Y part art thereof
until said bonds and the interest thereon are fully paid.
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(e) That said city shall maintain public liability insurance on said
off-street parking facilities until said bonds and the interest
thereon are fully paid. That this ordinance shall constitute a
contract by and between the City of Salina, Kansas, and any pur-
obaser or owner of said bonds, or each, any or all of them, the
j provisions of which shall be enforceable, and the breach of which,
shall be actionable at lax or equity in any appropriate proceeding,
but no jurisdiction shall therefrom be acquired to compel, require
or raise the duty of said city or its Board of Commissioners to levy
taxes to i
pay either the principal or interest of said bonds.
Section 10. That the Mayor and City Clerk are hereby authorized and direct6d
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without unnecessary delay to cause said bonds to be prepared and to execute the
same as in this ordinance provided, and when emecuted said bonds shall be registered
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with the City Clerk of the City of Salina, Kansas, and the Auditor of the Stateof
Kansas, as required and provided by lax, and shall be by the Mayor of said city sold
as provided by kw and the Prooeeds therefrom used to
pay a Part of the cost of
acquiring land and improving the same as an off-street Parking facility in saideity
has herein efore not forth.
Section 11. That this ordinance shall take effect and be in full fsrrce from,
and after its Publication once in the official city paper.
Attests
City Clerk
Introduoed= January 19, 1953
Passed: January 26, 1953
Payor