4275 Issuance of Funding Bonds446
ORDINANCE NO. 4275
Fublisred in.__the --Sal_na JQ-urnal
1
AN ORDINANCE providing for the issuance of Funding Bonds of the City
of Salina, Kansas, in the aggregate amount of X71,966.73, for the
purpose of refunding certain overdrawn funds, overdrawn bond funds,
and certain indebtedness of the City of Salina, as required by the
provisions of House Bill 745 enacted by the 1933 session of the
Legislature of the State of Kansas.
WHEREAS, pursuant to the requirement of Section 3 of House Bill 745
enacted by the 3933 sewsion of the Legislature of the State of Kansas.
j the governing body of the City of Salina., Kansas has caused to be made
and compiled a full complete and detailed financial statement containing
the informati-n required to be contained therein by said Section 3 of
said House Bill 745, and pursuant to Section 4 of said House Bill 745,
notices have been duly posted and published as required by said Section
4 containing a complete financial statement as required by Section 3 of
said act, and containing all of the other matters required by said act
to be contained in said notice! and
V.'HEREAS, pursuant to said notice so duly posted and published no objectinnsi
have been presented to the governing body within the time provid<d for in
Section 5 of said act to any.claims included in said statement or to any
claims allowed by the governing body which were not included therein,
and no claims not included in said statement have been filed with the goveri-
ing body pursuant to said act except such as have been paid out of funds
in the treasury of said city available for the payment thereof, and no
appeals have been taken to District Court of said County by any tax payers
or other persons, from any decision of the governing body r -lacing to the j
allorance of any claims or relating to any objection filed or made by
any person and no appeals have been taken to the District Court by any
creditors or other persons relating to the disallowance of any claims by
I the governing body, cr relating to any other matter covered by said act; i
and
WHEREAS, as shown by the financial statement so made and compiled, and
as shown by the notice so posted and published, the amount of crerdrawn
funds other than bond funds for which a tax levy was made for the current
tax year consisted of an overdraft of $1617.31 in the General Improvement
Fund and the amount -f overdrawn bond funds consisted of an overdraft
of $9911.56 in the paving intersection bond fund and an overdraft of
$48,771.68 in the Special Assessment bond fund, and the amount of all
other indebtedness of said city rot secured by bonds and not numerated
above which were valid obligations of the municipality at the close of
business on the last day of April 1933 amounted in the aggregate to
411,666.18, or a total of sue# overdrawn funds and other indebtedness
in the total aggregate sum of $71,966.73; and
ti:HEREAS, by virtureof the provisions of said House Bill 745 the govern-
ing body of said city, having complied with all the rrovisions of said
aet, is now authorized and required by said act to ffnd such indebtedness
and to issue bonds -f the municipality for the 1-urpose of paying or re-
financing said indebtedness; NOVJ THEREFORE
BE IT ORDAINED by the Board of Commissioners of the City of Salina, Kansas;
Section 1. That for the purpose of funding certain indebtedness
of the City of Salina, Kansas, in the sum of x`71,966.73 as herein above
more specifically described in the preamble to this ordinance,�A,hlch is
hereby made a part hereof, as authorized by the provisions of House Bill
745 enacted by the 1933 session of the legislature of the State of Kansas,
i
there shall be and there are hereby authorized to be issued negotiable
coupons bonds of said city in the aggregate amount of $71,966.73, rhich
amount does not exceed the amount of the above described outstanding
indebtedness.
i
Section 2. Said Funding Bonds shall be dated June lst, 1933, shall
i
bear interest at the rate of four and cne-half (41� i
2 ) per cent per annum,
payable on the first day of April 1934 and semi-annually thereafter on
the first da�rs of October and April of each year until the respective
maturities of the bonds herein authorized. The Iyiavor and City "lerk
of said city are hereby directed to sign and execute said bonds, on
behalf of said city, and to execute the interest coup^ns to be attached
to said bonds by causing to be affixed thereto the printed facsimile
signatures of the Mayor and City Clerk, and the City Clerk shall affix
to each of said bonds the of_''icial seal of said city. Said bonds
shall be registered by the City Clerk of the City of Salina and by the
Auditor of the State of Kansas in the manner required by law, and
their certificates of registration shall be endorsed thereon.
Secti-)n3. Said Funding Bonds and the interest coiupons thereon
shall be payable at the office of the State Treasurer in the Citti� of
Topeka, Kansas. Said bonds shall be numbered from 1 to 72, inclusive,
and shall be in the denominations and shall become due and payable
in approximately equal annual installments for ten -Tears as follows:
No. 1 for $966.73 a
October 1, 1935:
Nos. 8 to 14 incl.
Nos. 15 to 21 incl.
Nos. 22 to 28 incl.
Nos. 29 to 35 incl.
Nos. 36 to 42 incl.
Nos. 43 to 49 incl.
Nos. 50 to 56 incl.
Nos. 57 to 64 incl.
Nos. 65 to 72 incl.
nd Nos. 2 to 7 inclusive for $1,000.00 each, due
for $1000.00 each, due October 1, 1936;
for $1000.00 each, due October 1, 1937;
for $1000.00 each, due October 1, 1938;
for $1000.00 each, due October 1, 1939;
for $1000.0(- each, due October 1, 1940;
for $1000.00 each, due October 1, 1941;
for 41000.00 each, due October 1, 1942;
for $100').00 each, due October 1, 1943;
for $1000.00 each, due October 1, 1933;
Sdetion 4. The form of the interest coupons shall be as provided
by law, and the form of said bonds shall be substantially as follows:
A
UNITED STATE OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
No.
FUNDING BOND
KNOW ALL MEN BY THESE PRESENTS: That the City of Salina, Saline
County, State of Kansas, is indebted to and promises to pay the bearer
the sum of
Dollars in lawful money of the United States of America, on the first
day of October, 19 , with interest thereon at the rate of four
and one-half per cent per annum, payable semi-annually on the first
days of April and October of each year after the date of this bond until
the maturity thereof, (except that the first interest shall become due
on April 1st, 1934) upon the presentation and delivery of the prozer
coupons hereto annexed, authenticated by the printed facsimile sigantures
of the Mayor and Clerk of said City. Both principal and interest of this
bond are payable at the office of the State Treasurer, in the City of
Topeka, Kansas, and said City is hereby held and firmly bound and its
faith and credit and all of the resources of said city are hereby pledged
for the prompt payment of this bond and interest at maturity.
THIS BOND is one -,f a series of bonds numbered from One (1) to
Seventy -Two (72) inclusive, aggregating Seventy One The-usand Nine
Hundred Sixty Six Dollars and Seventy Three Cents ($71,966.73) of like
tenor and effect except as to maturity and amount, issued by the City
of Salina, Kansas for the purpose of funding certain outstanding in-
debtedness heretofore legally created by said City, and is issued under
auth^rity of and in conformity with the Provisions, restrictions and
limitations House Bill 745 enacted by the 1933 session of Legislature
of the State of Kansas, and all acts amendatory, complementary, and
supplemental thereto, and of a1+ other laws and constitutional pro-
�risions of the State of Kansas applicable thereto, and such bonds and
the interest thereon are to be paid by the City of Salina, Kansas.
AND IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions,
and things required to be done precedent to and in the issuance of said
bonds, have been properly done, happened and performed in regular and
due form as required by lav, and that the indebtedness which is funded
by this series of bonds, is a constitutional, subsisting and legal
obligation of said city and that neither the indebtedness which is funded
nor this series of bonds exceed any statutory or constitutional limitations,.
IN TESTIMONY WHEREOF, we, the undersigned officers of the City
of Salina, Kansas, being duly authorized to execute this obligation
on its behalf, have hereunto set our official signatures and caused j
the seal of said city to be hereunto affixed, and caused our official
signatures to be printed on the coupons hereunto attached, this first
of June, 1933.
Attest:
City Clerk
Psi A . Stevenson
Mayor
i
Section 5. The City of Salina, Kansas, hereby assures and
promises the holders of any and all bonds and interest coupons issued
under the provisions of this ordinance that said city will make prompt
patrment of the same when due, and it is hereby made the duty of the
proper city officials to make r;rovisions for such payment and to levy
annually upon all of the tameable property in said city, a tax suffi-
cient to pay the interest and principal of said bonds as they severally
mature, and the full faith, credit and all of the resources of the
City of Salina, Kansas, are hereby irrevocably pledged to the prompt
payment of said bonds and interest coupons when due.
Section 6. When issued said bonds shall be offered for sale
and sold in the manner provided by law and when sold, the proceeds
thereof shall be used for the payment of said indebtedness, or
cr-dited to the overdrawn funds hereinabove mentioned, as the case
may be.
Section 7. This ordinance shall be in force and take effect
from and after its plablicati.on once in the official city paper.
Introduced, May 29th, 1933
Passed, June 5th, 1933
M. A. Stevenson
Mayor
Attest:
Chas. E. Banker,
City Jerk
S3'ATE OF 'KANSAS )
) SS
C OUNTY OF S_,LINE )
I. Chas. E. Banker, City Clerk of the City of Salina, Kansas,
do hereby certify that the above and foregoing. is a tru and correft
co:y of Ordinance No. 4275 passed and approved by the Board of Com-
missioners of the Citv of Salina June 5th, 1933; and a record ^f the
vote on its final adoption is found on page !'" Journal No. 13
"City Clerk
(Published in the Salina Journal 1933)
ORDINANCE NO. 4275
AN ORDINANCE providing for the issuance of Funding Bonds of the
City of Salina, Kansas, in the aggregate amount of $71,966.73,
for the purpose of refunding certain overdrawn funds, over-
drawn bond funds, and certain indebtedness of the City of
Salina, as required by the provisions oP House Bill 745 en-
acted by the 1933 session of the Legislature of.the State of
Kansas.
WHEREAS, pursuant to the requirement of Section 3 of House Bill
745 enacted by the 1933 session of the Legislature of the State
of Kansas, the governing body of the City of Salina, Kansas has
caused to be made and compiled a full complete and detailed
financial statement containing the information required to be
contained therein by said Section 3 of said House Bill 745, and
pursuant to Section 4 of said House Bill 745, notices have been
duly posted and published as required'by said Section 4 contain-
ing a complete financial statement as required by Section 3 of
said act, and containing all of the.other matters required by
said act to be contained in said notice; and
WHEREAS, pursuant to said notice so duly posted and published
no objections have been presented to the governing body with-
in the time provided for in Section 5 of said act to any claims.
included in said statement or to any claims allowed by the^govern
ing body which were not included therein, and no claims not in-
cluded in said statement have been filed with the governing body
pursuant to said act except such as have been paid out of funds
in the treasury of said city available for the payment thereof,
and no appeals have been taken to District Court of said County
by any tax payers or other persons, from any decision of.the
governing body relating to the allowance of any claims or relat=
ing to any objection filed or made by any person and no appeals
have been taken to the District Court by any creditors or other
persons relating to the disallowance of any claims by the govern-
ing body, orrelating to any other matter covered by said act;
and
WHEREAS, as shown by the financial statement so made and compiled,
and as shown by the notice so posted and published, the amount.of
overdrawn funds other than bond funds for which a tax levy was -
made for the current tax year consisted of an overdraft of $1617.31
in the General Improvement Fund and the amount of .overdrawn bond
funds consisted of an overdraft of .69911.56 in the paving,inter
section bond fund and an overdraft of $48,771.68 in the Special
Assessment bond fund, and the amount of all other indebtedness
of said city not secured by bonds and not numerated above which
were valid obligations of the municipality at the close of busi=
ness on the last day of April 1933 amounted in the aggregate to
$11,666.18, or a total of such overdrawn funds and other indebted-
ness in the total aggregate sum of $71,966.73; and
WHEREAS, by virtupe of the provisions of said House Bill 745 the
governing body of said city, having complied with all the pro-
visions of said act, is now authorized and required by said act
to Ptind such indebtedness and to issue bonds of the municipality
for the purpose of paying or refinancing said indebtedness; NOW
THEREFORE
BE IT ORDAINED by the Board of Commissioners of the City of Salina,
Kansas:
Ing
Section 1. That for the purpose of funs/ certain indebtedness
of the City of Salina,.4ansas, in the sum of $71,966.73 as herein
above more specifically described in the preamble to this ordinance,
which is hereby made a part hereof, as authorized by the provisions
of House Bill 745 enacted by the 1933 session of the legislature of
the State of Hansas, there shall be and there are hereby authorized
to be issued negotiable coupon bonds of said city in the aggregate
amount of 71,966.73, which amount does not exceed the amount of
the above described outstanding indebtedness.
Section 2. Said 1'u ding Bonds shall be dated June 1st, 1933,
shall bear interest at the rate of four and one-half (421%) per cent
per annum,payable on the first day of April 1934 and semi-annually
thereafter on the first days of October and April of each year until
the respective maturities of the bonds herein authorized. The Mayor
and City Clerk of said city are hereby directed to sign and execute
said bonds, on behalf of said city, and to execute the interest
coupons to be attached to said bonds by causing to be affixed there-
to the printed facsimile signatures of the Mayor and City Clerk,
and the City Clerk shall affix to each of said bonds the official
seal of said city. Said bonds shall be registered by the City'Clerk
of the City of Salina and by the Auditor of the State of Kansas in
the manner required by law, and their certificates of registration
shall be endorsed thereon.
Sdetion 3. Said Funding Bonds and the interest coupons 4 _.
thereon shall be payable at the office of the State Treasurer in the
City of Topeka, Kansas. Said bonds shall be numbered from 1 to 72,
inclusive, and shall be in the denominations and shall become due and
payable in approximately equal annual installments for ten years as
follows:
No. 1 for $966.73 and Nos. 2 to 7 inclusive for $1,000.00 each, due
October 1, 1935;
Nos: 8 to 14 incl. for $1000.00 each, due October 1, 1936;
Nos. 15 to 21 incl. for $1000.00 each, due October 1, 1937;
Nos. 22 to 28 incl. for $1000.00 each, due October 1, 19381;
Nos. 29 to 35 incl. for 01000.00 each, due October 1, 1939;
Nos. 36 to 42 incl. for $1000.00 each, due October 1, 1940;
Nos. 43 to 49 incl, for $1000.00 each, due October 1, 1941;
Nos. 50 to 56 incl. for $1000.00 each, due October 1, 1942;
Nos. 57 to 64 incl, for $1000.00 each, due October 1, 1943;
Nos. 65 to 72 incl. for $1000.00 each, due October 19 1944;
Section 4. The form of the interest coupons shall be as pro-
vided by law, and the form of said bonds shall be substantially as
follows:
Np.
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
FUNDING BOND
KNOW ALL MEN -BY THESE PRESENTS: That the City of Salina,
Saline County, State of Kansas, is indebted to and promises to
pay the bearer the sum of
Dollars in lawful money of the United States of America, on the
first day of October, 19 , with interest thereon at the rate
of four and one-half per cent per annum, payable semi-annually on
the first days of April and:October of each year after the date
of this bond until the maturity thereof, (except that the first
interest shall become due on April let, 1934) upon the presents -
tion and delivery of the proper coupons hereto annexed, authenticated
✓ by the printed facsimile signatures.of the Mayor and Clerk of said
City. Both principal and interest of -this bond are payable at the
office of the State Treasurer, in the City of Topeka, Kansas, and
said City is hereby held and firmly bound and its faith and credit
and all of the resources of said City are hereby pledged for the
prompt payment of this bond and interest at maturity.
THIS BOND is one of a series of bonds numbered from One (1)
to Seventy -Two (72) inclusive, aggregating Seventy One Thousand
Nine Hundred Sixty Six Dollars and Seventy Three Cents ($71,966.73)
of like tenor and effedt except as to maturity and amount, issued
by the City of Salina, Kansas for the purpose of funding certain
outstanding indebtedness heretofore legally created by said City,
and is issued under authority of and in conformity with the pro-
visions, restrictions and limitations House Bill 745 enacted by
the 1933 session of Legislature of the State of Kansas, and all
acts amendatory, complementary, and supplemental thereto, and of
all other laws and constitutional provisions of the State of Kansas
applicable thereto, and such bonds and the interest thereon are to
be paid by the City of Salina, Kansas.
AND IT IS HEREBY CERTIFIED AND RECITED that all acts, condi-
tions,and things required to be done precedent to and in the issuance
of said bonds, have been properly done, happened and performed in
regular and due form as required by law, and that the indebtedness
which is funded by this series of bonds, is a constitutional, sub-
sisting and legal obligation of said city and that neither the in-
debtedness which is funded nor this series of bonds exceed any
statutory or constitutional limitations.
IN TESTIMONY WHEREOF, we, the undersigned officers of the City
of Salina, Kansas, being duly authorized to execute this obligation
on its behalf, have hereunto set our official signatures and caused
the seal of said city to be hereunto affixed, and caused our official
signatures to be 813est printed on the coupons hereunto attached, this
first of June, 1933.
Attest:
City Clerk
V/71-1A2a
Section 5. The City of Salina, Kansas, hereby assures and
promises the holders of any and all bonds and interest coupons
issued under the provisions of this ordinance that said city
will make prompt payment of the same when due, and it is hereby
made the duty of the proper city officials to make provisions for
such payment and to levy annually upon all of the taxable property
in said city, a tax sufficient to pay the interest and principal
of said bonds as they severally mature, and the full faith, credit
and all of the resources of the City of Salina, Kansas, are hereby
irrevocably pledged to the prompt payment of said bonds and interest
coupons when due.
Section 6. When issued said bonds shall be offered for sale
and sold in the manner provided by law and when sold, the proceeds
thereof shall be used for the payment of said indebtedness, or
credited to the overdrawn funds hereinabove mentioned, as the case
may be.
Section -7, This ordinance shall be in force and take effect
from and afte its publication once in the official city paper.
Attest:
Introduced, May 29th, 1933
Passed, June S.th, 1933
rr„ -.
Mayor —�—