Ordinance #202
An ordinance providing for the issuance of general improvement bonds by the City of Troy, Kansas in the sum of $5578.27 to pay the cost of improving certain streets in said City, and repealing Ordinance No. 200 and all ordinances or parts of ordinances in conflict herewith.
Whereas, the cost of curbing, guttering, excavating and paving First Street from the south line of Myrtle Street to the north line of Locust Street; Second Street from the north line of Walnut Street to the south line of Bougher Street; Myrtle Street from the east line of Liberty Street to the west line of Second Street; Elm Street from the east line of Liberty Street to the west line of Second Street in said City has been determined and ascertained and the portion thereof to be payed by a general tax to be levied upon all taxable property within said City for the said improvement and the square and area formed by intersecting streets and alleys and for City property and for which bonds are to be issued as hereinafter provided has been ascertained and is hereby determined to be the sum of $5018.60 and 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 determined to be the sum of $37819.67 and the said last named amount has been heretofore duly assessed and apportioned to the several lots and pieces of ground in said City liable therefore, payable in annual installments according to law and as provided for by Ordinance No. 189 of said City of Troy; that the property owners have paid to the City of Troy within the period allowed by law the sum of $2235.08 and there remained unpaid by the property owners a specially provided bond amount of the sum of $35584.59 and that the bonds will be issued by the City of Troy for the payment of said balance together with the cost of paving, curbing, guttering and excavating the square and area formed by intersecting streets and alleys.
Now Therefore be it ordained by the Mayor and Councilmen of the City of Troy, Kansas:
Sec. I. That the cost of paving, guttering, curbing and excavating First Street from the south line of Myrtle Street to the north line of Locust Street; Second Street from the north line of Walnut Street to the south line of Douglas Street; Myrtle Street from the east line of Liberty Street to west line of Second Street; Elm Street from the east line of Liberty Street to the west line of Second Street after deducting the assessments heretofore paid, thereon, by the property owners along said streets and deducting the cost of paving, curbing, guttering and excavating the intersecting streets and alleys thereon is the sum of $35584.59 and that the cost of paving, curbing, guttering and excavating the intersecting streets and alleys on said streets in the sum of $5018.60 and that said City shall issue its bonds in the sum of $35584.27 to secure the money to pay for improvements. That said bonds shall be paid in ten annual installments and shall be of the denomination
installments there shall be issued improvement bonds of the City of Troy, Kansas, dated September 23rd, 1920, numbered 1 to 131 consecutively which shall bear interest at the rate of six per cent per annum payable semi-annually on the 23rd day of March and September of each year until maturity, and the several installments of interest shall be evidenced by interest coupons attached to said bonds and said bonds shall be numbered and shall mature in amounts as follows:
No. 1 for $78.83 due September 23-1921
“ 2 to 11 inclusive for $500 each due September 23-1921
“ 12-14 “ “ $100 “ “ “ 23-1921
“ 15-24 “ “ $500 “ “ “ 23-1922
“ 25-27 “ “ $100 “ “ “ 23-1922
“ 28-37 “ “ $500 “ “ “ 23-1923
“ 38-40 “ “ $100 “ “ “ 23-1923
“ 41-50 “ “ $500 “ “ “ 23-1924
“ 51-53 “ “ $100 “ “ “ 23-1924
“ 54-63 “ “ $500 “ “ “ 23-1925
“ 64-66 “ “ $100 “ “ “ 23-1925
“ 67-76 “ “ $500 “ “ “ 23-1926
“ 77-79 “ “ $100 “ “ “ 23-1926
“ 80-89 “ “ $500 “ “ “ 23-1927
“ 90-92 “ “ $100 “ “ “ 23-1927
“ 93-102 “ “ $500 “ “ “ 23-1928
“ 103-105 “ “ $100 “ “ “ 23-1928
“ 106-115 “ “ $500 “ “ “ 23-1929
“ 116-118 “ “ $100 “ “ “ 23-1929
“ 119-128 “ “ $500 “ “ “ 23-1930
“ 129-131 “ “ $100 “ “ “ 23-1930
Said bonds shall be signed by the Mayor, attested by the City Clerk and have the corporate seal of the City affixed thereto and the interest coupons shall be authenticated by the lithographed facsimile signatures of the Mayor and the City Clerk of said City, both principal and interest coupons shall be payable at the fiscal agency of the State of Kansas at such time and under such funds as provided herein and said bonds shall be sold at par and the proceeds used for the payment of the cost of said improvements.
Sec. II. Said bonds shall be approximately in form and contain recital substantially as follows:
State of Kansas }
County of Doniphan }
City of Troy }
Internal Improvement Bonds.
Know all Men By These Presents:
That the City of Troy, in the County of Doniphan, State of Kansas, a Municipal Corporation, is indebted for value received hereby promises to pay bearer the sum of ___ Dollars lawful money of the United States on the 23rd day of September, 1921 with interest on said sum from the date hereof until paid at the rate of six per cent per annum payable semi-annually upon presentation of the interest coupons hereto attached as they severally become due, both principal and interest being payable at the office of the State Treasurer, in the City of Topeka, Kansas.
This bond is one of a series of like date aggregating the sum of $35,378.27 issued for the purpose of paying the improvements of streets and alleys in said City by authority of and in accordance with the provisions of the laws of the State of Kansas governing cities of the third class and in compliance with said ordinance duly and legally passed on the 20th day of September 1920.
And it is hereby certified and recited that all acts, conditions and things required by law and constitution of the State of Kansas to be done precedent to and in the issuing of this bond have been properly done, happened and been performed in regular and due form and time as required by law, and that the total indebtedness of said City including this bond does not exceed any constitutional or statutory limitation and for the prompt payment hereof, both principal and interest the full faith and credit of said City of Troy are hereby irrevocably pledged.
In testimony whereof, The City of Troy by its Mayor and Councilmen, has caused this bond to be signed by its Mayor, attested by its City Clerk under the corporate seal and the coupons hereto attached to be executed by the facsimile signatures of said Mayor and the City Clerk dated the 23rd day of September 1920 and duly issued.
Seal
A. L. Macomber
Mayor of City of Troy, Kansas.
Attest: Grace B. Finley
City Clerk.
Sec. III. The Mayor and City Clerk are hereby authorized and directed to prepare and execute said bonds as are in this ordinance provided and when so executed said bonds shall be registered by the City Clerk of Troy, Kansas and with the State Auditor of the State of Kansas and the said City of Troy hereby assumes and promises to pay holders of said bonds to make prompt payment of said bonds and the interest as provided herein and said Mayor and Council of the said City shall annually make provisions for the payment of the principal and interest of said bonds as they severally become due by levying a tax on the property liable therefor.
Sec. IV. Ordinance No. 200 and all ordinances or parts of ordinances in conflict herewith are hereby repealed.
Sec. V. This ordinance shall be in full force and take effect from and after its publication in the Kansas Chief.
Passed and approved September 20-1920.
[Seal]
A. L. Macomber
Mayor
Attest: Grace B. Finley
City Clerk.