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3264 Improvement BondsORDINANCE NO..3264 AN ORDINANCE providing for the issuance of improvement bonds oT the City of Salina, Kansas in the sum $17,355.15 to pay the cost of improving cer- tain streets in said city. WHEREAS: In pursuance of preceeding duly and according to law, contracts have been let and performed for the; Recurbing and guttering Seventh Street in the City of Salina, Kansas from north line of Walnut Stree o south line of Elm Street in said city; Excavating, grading and surfacing with sand -clay of Tenth Street in the city of Salina, Kansas, from north line of Lincoln Avenue— o�Fi .line of Grand Avenue; Curbing, excavating, grading and surfacing with sand -clay of Lincoln Avenue in city of Salina, Kansas, from the west line of Ninth Street o we line of tenth street of said city; Excavating, grading and surfacing with sand -clay of Thirteenth Street in.the city of Salina, Kansas, from north line of Unionn Pa— _H=o r—iT'F-of-way to south line of Grand Avenue; and WHEREAS: The total cost of said improvements has been ascertained, and the portion thereof to be paid by general tax to be levied upon all of the taxable property within said city for the improvement of squares and areas formed by the crossing of streets and alleys for which bonds are to be issued as hereinafter provided, has been ascertained and is hereby determined and found to be the sum of $ 4215.89, and WHEREAS: The portion thereof to be paid by special assessment levied upon the lots and pieces of ground liable therefore has been ascertained and is hereby Sound and determined to be the sum of $16,356.62 which said last amount has been heretofore duly assessed and apportioned to the several lots and pieces of ground on such streets liable therefore, payable in ten equal installments according to law and as provided in the ordAance of the City of Salina duly passed and approved; and WHEREAS: The amount of said special assessment for which bonds are to be issued as herein provided in anticipation of said special assessment which remain unpaid has been ascertained and is hereby,found and determined to be the sum of $p 13,139.26, the difference between said last two named amounts having been paid by the property owners of said above named streets, whose property has been discharged from any further assessment for the cost of said improvements in the amount so paid, NOW THEREFORE; BE IT ORDAINED by the Board of Commissioners of the City of Salina, Kansas: Section 1. That the cost of such improvements, after deducting therefrom the assessments heretofore paid thereon as aforesaid, including the cost of the improvements of the squares and areas formed by the crossing of streets and alleys and of City property, shall be paid'in ten substantially equal annual installments instead of levying the entire cost at one time; the first installment of which is to be paid with the taxes for the year 1926 and one installment with the taxes for each succeeding year thereof until the whole amount thereof shall have been paid and that for such improvements there shall be and are hereby issued Improvement Bonds of the City of Salina, Kansas in the aggregate su=J Of $ 17,355.15. Section 2. That said issue of bonds shall consist of forty (40) bonds all bearing interest at the rate of four and one-half per cent (4z%) per annum, interest payable semi-annually on the 1st days of May and November of each year after the date of said bonds; except that the first payment as hereinafter described shall be due and payable on the 1st day of May, 1927, and thereafter all interest shall be payable semi-annually as above provided for. All of said bonds shall be dated May 1, 1926. Said bonds shall be numbered, the amount due each year and the dates of maturity of said bonds shall be as follows: Number Amount Date of Maturity 1 $555.15 -May 1st, 1927 2� 500.00 May 1st, 1927 3 500.00 May 1st, 1927 4 500.00 May 1st, 1927 5 500.00 May 1st, 1928 6 500.00 May 1st, 1928 7 500.00 May.lst, 1928 8 200.00 May 1st, 1928 9 500.00 May 1st, 1929 10 500.00 May 1st, 1929 11 500.00 May 1st, 1929 12 1200.00,-, May 1st, 1929 13 500.00 May 1st, 1930 14 500.00 May 1st, 1930 15 500.00 May 1st, 1930 16 200.00 May 1st, 1930 17 500.00 May 1st, 1931 18 500.00 May 1st, 1931 19 500.00 May 1st, 1931 20 200.00 May 1st, 1931 21 500.00 May 1st, 1932 22 500.00 May 1st, 1932 23 500.00 May 1st, 1932 24 200.00 May lst, 1932 25 500.00 May 1st, 1933 26 500.00 May 1st, 1933 27 500.00 May 1st, 1933 28 200.00 May lst.,l933 29 500.00 May 1st, 1934 30 500.00 May 1st, 1934 31 500.00 May 1st, 1934 32 200.00 May 1st, 1934 33 500.00 May 1st, 1935 34 500.00 May 1st, 1935 35 500.00 May 1st, 1935 36 200.00 May 1st, 1935 37 500.00 May 1st, 1936 38 500.00 May 1st, 1936 39 500.00 May 1st, 1936 40 200.00 May lst, 1936 Section 3. Said bonds shall be signed by the Mayor and attested by the Clerk of the City of Salina.. Kansas and shall have the corporate seal of said City attached thereto. Interest coupons to said bonds shall be signed by the lithographed signatures of said Mayor and Clerk and both bonds and coupons shall be paid at the fiscal agency of the State of Kansas in the City of Topeka, Kansas. Section 4. Said bonds shall be executed in the form.and shall contain recitals substantially as follows: + UNITED STATES OF AMERICA STATE OF KANSAS COUNTY OF SALINE. NO 61 CITY OF SALINA INTERNAL—IMPROVEMENT—BOND KNOW 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 the bearer the sum of $ in lawful money of the United States of America on the first Fa--yo-r— with interest thereon from the date hereof at the rate or rour and one- half (42%) per cent per annum, payable semi-annually on the first days of V�. of each year after the date hereof until the said principal sum shall ave been paid,(except that the first interest coupons shall become due on ) upon presentation and surrender of the interest couponsere o a ac ed, bearing the litho- graphed signatures of the Mayor and City Clerk of said City, as said coupons severally become due; both principal and interest of this bond being payable at the office of the State Treasurer in the City .of Topeka, Kansas. And said. City of Salina in the State of 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 prompt payment of said principal and interest at maturity, THIS BOND is one of a series of 40 bonds of like date and tenor, except denomination and maturity, aggregating the principal sum of $17,355.15 issuedby the City of Salina, Kansas for the purpose of paying the cost of improving certain streets.in said City by the authority of and in full compliancewith the provisions, restrictions and limitations of the Constitution and Laws of the State of Kansas, including Section 10-101 to 10-115 and Sections 12-601 .to 12-610 and Section 13-1011 of the Revised Statutes of Kansas.1923,'and all other provisions of the laws of said State applicable thereto and this bond and all other bonds of said series and all interest thereon are to be paid by the said City of Salina, Kansas. AND IT ISFHEREBY DECLARED AND CERTIFIED, that all acts, conditions and things required to be done and to.exist precedent to and in the issuance of this bond, have been done and performed and do exist in due and regular form and manner and that .the total indebtedness of said City, including this series of bonds does not exceed any constitutional or, statutory limitation. IN WITNESS.WHEREOF, the said City of Salina in the State of Kansas by its Board of Commissioners has caused this bond to be signed by its Mayor and its corporate seal to be hereto affixed, attested by its City Clerk, and the coupons here to attached to be signed with the lithographed signatures of said officers and this bond to be dated this first day of May, 1926.. Attest: Chas. E. Banker Ty— T T er Guy T. Helvering Mayor Section 5. The first interest coupon to be attached to bonds 1 to 40 inclusive, which mature May 10 1927, shall be substantially as follows: NO. On the first day of May, 1927, the City of Salina, Kansas will pay the bearer $ at the fiscal agency of the State of Kansas in the Cityeof Topeka, ansas the same being one years interest on its Internal Improvement Bond dated May 1st, 1926. N0. Mayor City Clerk The remaining interest coupons to be attached to said bonds shall be substantially as follows: NO. On the first day of 18 the City of Salina, Kansas will pay the beFFer at the fiscal agency of the State of Kansas, in the City—7T Topeka, Kansas, the same being six months interest on its Internal Improvement Bond dated May 1st, 1926. NO. Mayor ------- Ulty Clerk Section 6. The Mayor and City Clerk are hereby authorized, directed and empowered without unnecessary delay, to prepare and execute said bonds, and coupons as in this ordinance provided and when executed, said bonds shall be registered with the City Clerk of the City of Salina.. Kansas and with the Auditor of the State of Kansas as required by law, and shall be by the Mayor of said City delivered to the contractor or contractors constructing such im- provements inproportion to the amounts due such contractor or con- tractors in payment of the amount due them for such work and improvements; PROVIDED, however that such bonds shall not be sold or delivered to such contractor or contractors at less than par value thereof nor in a greater sum or amount than the whole amount due to said contractor or contractors under th6ir respective contracts with said City, or the Board of Commissioners may sell said bonds at not less than their par value and out of the proceeds thereof pay said contractor or contractors for said work and improvements. Section 7. Said Board of Commissioners shall make provisions for the payment of -the principal and interest,on said bonds as the same becomes due and payable by levying a tax on the property liable therefor. Section 8.: This ordinance shall take effect and be in full force from and after its publication once in the official City paper. Attest: Introduced for first reading ------July 6th, 1926 P-a'ssed and approved ---------------July 12th, 1926 Chas_E. Banker City Clerk STATE OF KANSAS ) )SS COUNTY OF SALINE ) I, Chas E. Banker, City Clerk of the City of Salina, Kansas, do hereby certify that the above and foregoing is a true and correct copy of Ordinance No. 3264 passed and approved by the Board of Commissioners of the City of Salina, Kansas July 12th, 1926, and a record of the vote on its final adoption is found on page �-J of Journal No. 11 0 u V (Published in The Salina Journal / h1926), ORDINANCE NO 326 AN ORDINANCE providing for the issuance of improvement bonds of the City of Salina, Kansas in the sum $17,355.15 to pay the cost of improving certain streets in said city. WHEREAS: In pursuance of preceeding duly,and-according to law, contracts have been let and performed.for the;. Recurbing and guttering Seventh Street in the City of Salina, Kansas from north line or Walnut reet to south line of Elm Street in said city; Excavating, grading and surfacing with sand -clay of Tenth Stree in the city of Salina, Kansas, from north line o L nco n venue to south line of Grand Avenue; Curbing, excavating, grading and surfacing with sand - clay of Lincoln Avenue in city of Salina, Kansas, from the west line of NinthFeet to west line of tenth street of said city; Excavating, grading and surfacing with sand -clay of Thirteenth Street in the city of Salina, Kansas, from north line or Union Pacific right-of-way. to south line of Grand Avenue; and WHEREAS: The total cost of said improvement 6 has been ascertained, and the portion thereof to be paid by general tax to be levied upon all of the taxable property within said city for the improvement of squares and eras -formed by the crossing of streets and alleys for which bonds are to be issued as hereinafter provided, has been ascertained and is hereby determined and found to be the sum of and WhERAS: The portion thereof to be paid by special assessment levied upon the lotsand pieces of ground liable therefore has been ascertained and is hereby found and determined to be the sum of $ i6. 356.62 which said last amount has been heretofore duly assessed and apportioned to the several.lots and pieces of ground on such streets liable therefore, payable in ten equal installments according to law and as provided in the ordinance of the City of Salina duly passed and approved; and �, WHEREAS: The amount of said special assessment for which bonds are to be issued as herein provided in anticipation of said special assessment which remain unpaid has been'ascer- tained and is hereby found and determined to be the sum of 13,139.26 , the difference -pa- said last ones named amounts having been paid by the property owners of said above named streets, whose property has been discharged from any ✓ further assessment for the cost of said improvementsin the amount so paid, NOW THEREFORE; BE IT ORDAINED by the Board of Commissioners of the City of Salina, Kansas: Section 1. That the cost of such improvements, after deducting therefrom the assessments heretofore paid thereon as aforesaid, including the cost of the improvements of the squares and areas formed by the crossing of streets and alleys and of City property, shall be is id in ten substantially equal annual installments instead of levying the entire cost at one time; the first installment of which is to be paid with the taxes for the year 1926 and one installment with the taxes for each succeeding year thereof until the whole amount thereof shall have been,paid and that for such improvements there shall be and are hereby issued Improvement_Bonds of the City of Salina, Kansas in the 'aggregate sum of $ 17,355.15 Section 2. Said issue of bonds shall consist of Farty'y ( 40) bonds all bearing interest at the rate of four and one- half per cent ( ' 4i, ) per annum, interest payable semi- annually on the 1st days of ' May, and November of each year after the date of said bonds; except that the first payment as hereinafter described shall be due and payable on the 1st day of Bray, ig27 , and thereafter all interest shall be payable semi-annually as above provided for. All of said bonds shall be dated May 1, 1926 C] I Said bonds shall be numbered, the amount due each year and the dates of maturity,of said bonds shall be as follows: Number Amount Date of Maturity 1 $555.15 May 1st, 1927 2 500.00 May 1st, 1927 3 500.00 May 1st, 1927 4 500.00 May 1st, 1927 5 500.00 May 1st, 1928 6 500.00 May 1st, 1928 7 500.00 May 1st, 1928 8 200.00 May 1st, 1928 9 500.00 May 1st, 1929 10 500.00 May 1st, 1929 11 500.00 May let, 1929 12 200.00 May 1st, 1929 13 500.00 May 1st, 1930 14 500.00 May 1st, 1930 15 500.00 May 1st, 1930 16 200.00 May 1st, 1930 17 500.00 May 1st, 1931 18 500.00 May 1st, 1931 19 500.00 May 1st, 1931 20 200.00 May 1st, 1931 21 500.00 May 1st, 1932 22 500.00 May 1st, 1932 23 500.00 May 1st3 1932 24 200.00 May 1st, 1932 25 500.00 May 1st, 1933 26 500.00 May 1st, 1933 27 500.00 May 1st, 1933 28 200.00 May let, 1933 29 500.00 May lst, 1934 30 500.00 May 1st, 1934 31 500.00 May 1st, 1934 32 200.00 May 1st, 1934 33 500.00 May 1st, 1935 34 500.00 May 1st, 1935 35 500.00 May 1st, 1935 36 200.00 May 1st, 1935 — 37 500.00 May 1st, 1936 38 500.00 May 1st, 1936 39 500.00 May 1st, 1936 40 200.00 May 1st, 1936 Said bondsall be n ered, the am nt uue eacn year and the dates of a ity olid bonds hail be as follows: Section 3. Said bonds shall be signed by the Mayor and attested by the Clerk of the City of Salina, Kansas and shall have the corporate seal of said City attached thereto, Interest coupons to said bonds shall be signed by the lithographed sig- natures of said Mayor and Clerk and both bonds and coupons shall be paid at the fiscal agency of the State of Kansas in the City of Topeka, Kansas. Section 4. Said bonds shall be executed in the form and shall contain recitals substantially as follows: NO. UNITED STATES OF AMERICA STATE OF KANSAS COUNTY OF SALINE. CITY OF SALINA INTERNAL -IMPROVEMENT -BOND S6 ' KNOW 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 the bearer the sum of $ in lawful money of the United States or America on the first day of , with interest thereon from the ✓ date hereof at the__r_a_fe_­6`f_ a�d_0t�e-half (41� per cent per annum, payablesem -a ally on ie 3ays of of each year after the date hereor until the said pr m pa sum shall have been paid, (except that the first interest coupons shall become due on / )kpon presentation and surrender or the interest coupons to attached, bearing the litho- graphed signatures of the Mayor and City Clerk of said City, as said coupons severally become due; both principal and interest of this bond being payable at the office of the State Treasurer in the City of Topeka, Kansas, And said City of Salina in the State of Kansas is held and firmly bound by these presents, and the full faith,credit and re- sources of said City are hereby irrevocably pledged for the prompt payment of said principal and interest at maturity. THIS BOND is one of a series of 40 bonds of like date and.tenor, except denomination and mafurity, aggregating ✓ the principal sum of $ issued by the City of Salina, Kansas for the purpose or paying the cost of improving certain streets in 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 and Sections 12-601 to 12-610 and Section 13-1011 of the Revised Statutes of Kansas 1923, and all other provisions of the laws of said State applicable thereto and this bond and all other bonds of said series and all interest thereon are to be paid by said City of Salina, Kansas. AND IT IS HEREBY DECLARED AND CERTIFIED, that all ants, conditions and things required to be done and to exist pre- cedent to and in the issuance of this bond, have been done and performed and do exist in due and regular form and manner and that the total indebtedness of said City, including this series of bonds does not exceed any constitutional or statutory limitation. INWITNESS WHEREOF, the said City of Salina in the State of Kansas by its Board of Commissioners has caused this bond to be signed by its Mayor and its corporate seal to be hereto affixed, attested by its City Clerk, and the coupons here to attached to be signed with the lithographed signatures of said officers and this bond to be dated this first day of -May, Attest: City Clerk Mayor Section 5. The first interest coupon to be attached to bonds 1 to 40 , inclusive, which mature May 1, 1927 shall be substantially as follows: I, NO. i/ On the first day of, the City of Salina, Kansas will pay- a Barer at the fiscal agency of the State of Kansas in the City of Topeka, Kansas the same being one years interest on its Internal Im- provement Bond dated - may 1st, 1926 N0. Mayor City Clerk The remaining interest coupons to be attached to said bonds shall be substantially as follows; NO. On the first day of 19 the City of Salina, K ansas w1pay a Barer at 6he fiscal agency of the State of Kansas, in the City o Topeka, Kansas, the same being six months ,interest on its Internal Improvement Bond dated 7-M4y. 1"s't, 1926 V NO. mayor City Clerk Section 6. The Mayor and City Clerk are hereby authorized, directed and empowered.without unnecessary delay, to prepare and execute said bonds, and coupons as in this ordinance pro- vided and when executed, said bonds shall be registered with the City Clerk of the City of Salina.. Kansas and with the Auditor of the State of Kansas as required by law, and shall be by the Mayor of said City delivered to the contractor or contractors constructing such improvements inproportion to the amounts due such contractor or contractors in payment of the amount due them for such work and improvements; PROVIDED, however that such bonds shall not be sold or de- livered to such contractor or contractors at less than nar value thereof nor in a greater sum or amount than the whole amount due to said contractor or contractors under their respective contracts with said City, or the Board of Commissioners may sell said bonds at not less than their par value and out of the proceeds thereof pay said contractor or contractors for said work and improvements.. Section 7. Said Board of Commissioners shall make pro- visions for the payment of the principal and interest on said bonds as the same becomes due and payable by levying a tax on the property liable therefor. Section S. This ordinance shall take effect and be in full force from and after its publicatic,n once in the official City paper. Attest Introduced for first reading July 6th