5542 Issue GO Bonds, Series E-1531
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ORDINANCE NO 5542
(Published i
AN OR INANCE authorizing and providing for the issuance of bonds of the City of Salina,
Kansas, in the sum of $12,500.00 to pay the cost of purchasing land for park purposes
to be designated as Series E-153; and authorizing the issuance of temporary notes
pending the sale and issuance of said bonds.
?-J1lEiEAS, at the election duly held in the City of Salina, Kansas, on the 7t1, day of
November 1950, being a general election there was submitted -
� ed to the qualified electors
of the said city the proposition of "Shall the City of Salina issue its bonds in the
amount of $12,500.00 for the purposes of paying the cost of purchasing land for park
purposesit, all pursuant to ordinance No. 5712 of said city; and
1,T1LREAS, all directives of said Ordinance No. 5512 were fully and timely complied brit ;
and
T% LRLAS, at such election., which was duly and regularly held, a majority of the votes
cast thereat upon said proposition, were cast in favor of authorizing the said City
of Salina to issue its bonds in said sum for such purpose; and
i=hAS, the City of Salina has acquired the right to buy land for such purposes for
the sum of $12P500-00; and SO, NOW THEREFOR.,
BL IT ORDAINED BY THE BOARD OF COJL-'vJISS`01�1E13S OF TIl CITY OF SALIiTA, KANSAS
Section 1. That the foregoing preambles be and they are hereby authorized and made a
part of this ordinance and that for the purpose of providing funds to pay the cost of
said lands for said purposes as prescribed in the ordinance hereinbefore referred to,
there shall be issued Internal Improvement Bonds of the City of Salina, Kansas, in the
total principal sum of 512,500.00, which shall consist of three bonds numbered from one
to three, inclusive, all dathd March 1, 1953, which shall bear interest at the rate of
1-3/4 per cent per annum from and after said date until the respective maturities of said
bonds, payable semi-annually on March lst and September 1st of each year, said interest
to be evidenced by interest coupons as herein provided for and said bonds shall become
I due as follows.-
in
ollows:
No. 1 for S4j500.00 due March 1, 1954
No. 2 for �4j000.00 due March 1, 1955
No .3 for 641000.00 due March 1, 1956
Section 2. Said bonds shall be signed by the Mayor and shall be attested by the
signature of the City Clerk and corporate seal of the city shall be affixed thereto
and said "ponds shall have attached thereto interest coupons representing the interest
:c thereon, which coupons shall be in the form provided by law and shall bear the
printed or lithographed fac-simile signature of the Elayor and City Clerk of sa-d city and
said bonds and interest coupons bhall be registered in the office cf the City Clerk and
in the office of the Auditor of State, as reG:_ired by law.
Section 3. Said bonds shall be designated as Series L-1
53 and s _< 11 be in the ford
and shall contain recitals substantially as follows, to -wit:
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UNITED STATES OF Ai�RICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SAL 111
t
Series
IFTLTNAL T-IP?OVL 1LNi' BOND
No.
KNOW N ALL I��BY T'hSL PRESENTS, That the City of Salina in the County of
Saline, State of Kansas, acknowledges itself to be indebted and for value re-
ceived hereby promises to pay to the bearer the sum of
DOLLARS
in lawful money bf the United States of America, on the first day of
19 , with interest thereon from the date hereof at the rate of
per cenT per annut, payable semi-annually on the first days of March and Septem er
in each year, on presentation and surrender of the interest coupons hereto annexed
as said coupons severally become due, both principal and interest of t_ais bond being
payable at the office of the State Treasurer of the State of Kansas, in the City of
Topeka, Kansas. And said City of Salina, Kansas, is held and firmly bound by these
presents and the full faith, credit and resources of said city are hereby irrevocably
pledged for the payment of said principal and interest at maturity.
This bond is one of a series of bonds of like date and tenor, excepting
denomination and maturity, aggregating the principal sum of $12,500.00 issued by the
�,Lty of Salina, Kansas, for the purpose of paying the cost of acquiring land for park
purposes and erecting bu_ldings on and improving the park system of said city by the
authority of and in full compliance with the provisions, restrictions and limitations
of the constitution and laws of the State of Kansas, including Sections 10-101 to 10-
115, both inclusive and Section 25-605 all of General Statutes of Kansas 1935 and Sections
12-1301 and 12-1302, 197 Supplement to the General Statutes of Kansas of 1;35, and
such sections as amended, and all other provisions of the latus of said state applicable
thereto, and this bond and all other bonds of this series, and all interest thereon are
to be paid by the City of Saline., Kansas.
And it is hereby declared and certified that all acts, conditions and things re-
uired to be done and to exist precedent to and in the issuance of this bond have been
properly 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, and that the total indebtedness
of said city, including this series of bonds, does not exceed any constitutional or
statutory limitation. z
IIJ; vvITNESSji-1TLREOF, the said City of Salina, Kansas has executed this bond by
causing it to be signed by its Mayor and its corpo_^ate seal to be hereto affixed,
attested by its City Clerk and tie coupons hereto attached to be signed with the fac-
simile signatures of said officers, and this bond to be d__ted the: first day of
19
Attest:
Iviayor
City Clerk
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Section 4. The Mayor and City Clerk are hereby authorized and directed to
prepare and execute the bonds hereinbefore described and to advertise and sell the
se., -:e in the manner provided b7I law, and when duly executed and registered to deliver
said bonds to thepurchaser or purchasers thereof.
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Section 5. The full faith, credit and resources of the City of Salina, Kansas,
shall be, and the same are hereby irrevocably pledged for the prompt pay�r:ent of said
bonds and all interest thereon. The Board of Coirunissicners of the City of Salina,
Kansas, shall annually make provision for the payment of the principal and interest
on said bonds as the same beco,�.e due by levying taxes and assessments upon the prop-
erty liable therefore as provided by lair.
Section 6. That temporary notes signed by the layor and attested by the City
Clerk may be issued from tine to tine as contracts are let; land is acquired, and
as work progresses pursuant thereto, the total amount hereof not to exceed the
esti-.ated cost of said work in the manner and form rec.,__i red by lata, such notes to
bear interest not to exceed 1-1/2 per cent per annum and to mature not later than
! TIarch 1, 1Q53, and to be redeemed and cancelled at the ti_,ie that permanent bonds
are issued in lieu thereof.
Section 7. This ordinance shall take effect and be in force from and after
j its publication in the official city paper.
Attest:
City Cle rk
Introduced, Jzarch 5, 1951
Passed, karch 12, 1951
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