Ordinance No. 194
An ordinance providing for the issuance of internal improvement bonds by the City of Troy, Kansas, in the sum of $46,772.99 to pay the cost of improving certain streets in said City and repealing Ordinance No. 192 and all ordinances and parts of ordinances in conflict herewith.
Whereas, the cost of curbing, guttering, excavating and paving Liberty Street from the Chicago, Rock Island & Pacific Railway tracks to the north line of Locust Street in said City has been determined and ascertained and the portion thereof to be paid by general tax levied upon all taxable property within said City for the improvement and for the squares and areas formed by the intersections of the 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 $18,209.87 and the portion thereof to be paid by special assessment levied upon the lots and pieces of ground liable therefor has been ascertained and determined to be $52,858.69 and said last named amount has been duly assessed and apportioned to the several lots and pieces of ground in said City liable therefor, payable in annual installments according to law and as provided for Ordinance No. 187 of said City of Troy, within the period allowed by law the sum of $4,323.81 and there remains unpaid by property owners especially benefited and assessed the sum of $28,653.12 and that bonds will be issued by said City of Troy for the payment of said balance together with the cost of paving, guttering, excavating the squares and areas formed by intersections of 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, curbing, guttering and excavating Liberty Street in the City of Troy, from the Chicago, Rock Island & Pacific Railway Company tracks to the north line of Locust Street after deducting the assessments heretofore paid thereon by the property owners along said street and excluding the cost of paving, curbing, guttering and excavating the intersecting streets and alleys thereon in the sum of $28,653.12, that the cost of paving, curbing, guttering and excavating the intersecting streets and alleys in said street in the sum of $18,119.87 to secure the money to pay for improvements. That said costs shall be paid in ten annual installments as provided by law and that for the purpose of paying such installments there shall be issued internal improvement bonds of the City of Troy, Kansas, dated September 9th, 1920, numbered 1 to 30 consecutively which shall bear interest at the rate of six per cent per annum payable semi-annually on the 9th days 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 mature in amounts as follows:
| Bond No. | Amount | Due |
|---|---|---|
| 1 | $1,372.99 | September 9, 1921 |
| 2 | $1,000.00 | September 9, 1921 |
| 3 | $3,000.00 | September 9, 1921 |
| 4 | $600.00 | September 9, 1922 |
| 5 | $1,000.00 | September 9, 1922 |
| 6 | $3,000.00 | September 9, 1922 |
| 7 | $600.00 | September 9, 1923 |
| 8 | $1,000.00 | September 9, 1923 |
| 9 | $3,000.00 | September 9, 1923 |
| 10 | $600.00 | September 9, 1924 |
| 11 | $1,000.00 | September 9, 1924 |
| 12 | $3,000.00 | September 9, 1924 |
| 13 | $600.00 | September 9, 1925 |
| 14 | $1,000.00 | September 9, 1925 |
| 15 | $3,000.00 | September 9, 1925 |
| 16 | $600.00 | September 9, 1926 |
| 17 | $1,000.00 | September 9, 1926 |
| 18 | $3,000.00 | September 9, 1926 |
| 19 | $600.00 | September 9, 1927 |
| 20 | $1,000.00 | September 9, 1927 |
| 21 | $3,000.00 | September 9, 1927 |
| 22 | $600.00 | September 9, 1928 |
| 23 | $1,000.00 | September 9, 1928 |
| 24 | $3,000.00 | September 9, 1928 |
| 25 | $600.00 | September 9, 1929 |
Bond No. 26 for $1,000.00 due September 9, 1929
Bond No. 27 for $3,000.00 due September 9, 1929
Bond No. 28 for $600.00 due September 9, 1930
Bond No. 29 for $1,000.00 due September 9, 1930
Bond No. 30 for $3,000.00 due September 9, 1930
Said bonds shall be signed by the Mayor, attested by the City Clerk and have the corporate seal of the City of Troy affixed thereto and the interest coupons shall be authenticated by the lithographed facsimile signature of the Mayor and City Clerk of said City; both principal and interest coupons shall be payable at the fiscal agency of the State of Kansas at such times and under such terms 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 the form and contain recitals 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, acknowledges itself to pay bearer the sum of ______ Dollars lawful money of the United States on the 9th 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 the 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 $46,772.99 issued for the purpose of paying the improvement 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 an ordinance passed on the 4th 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 thereof, both principal and interest, the full faith and credit of the 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 signature of said Mayor and City Clerk, dated the 9th day of September 1920 and duly issued.
(Seal)
N. L. Macomber
Mayor of the City of Troy, Kansas
Attest: Grace B. Friley
City Clerk.
Sec. III. The Mayor and City Clerk are hereby authorized and directed to prepare and execute said bonds and coupons as herein 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 provision 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. 192 and all ordinances and parts of ordinances in conflict herewith are hereby repealed.
Sec. V. This ordinance shall take effect and be in full force from and after its publication in the Kansas Chief.
Passed and approved September 4, 1920.
(Seal)
N. L. Macomber
Mayor
Attest: Grace B. Friley
City Clerk.