Ordinance No. 200
An ordinance providing for the issuance of internal improvement bonds by the City of Troy, Kansas in the sum of $35,718.27 to pay the cost of improving certain streets in said City and repealing all ordinances or parts of ordinances in conflict herewith.
Whereas, the cost of curbing, guttering, excavating and paving First Street from the north 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 Second Street to the west line of Second Street; Elm Street from the east line of Gilbert Street to the west line of Second Street in said City, has been determined and ascertained and the portion thereof to be paid by a general tax to be levied on all taxable property within said City for the unimproved area at the squares and areas formed by the intersection of streets and alleys and for city property and for which bonds are to be issued as hereinafter provided for has been ascertained and is hereby determined to be the sum of $6013.68 and the portion thereof to be paid by special assessments levied upon the lots and pieces of ground liable therefor has been determined and is hereby determined to be $37819.67 and said last named amount has been heretofore 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 by Ordinance No. 189 of said City of Troy. That the property owners have paid to the said City of Troy within the period allowed by law the sum of $2253.08 and there remains unpaid by the property owners specially benefited and assessed the sum of $35566.59 and that bonds will be issued by said City of Troy for the payment of said balance together with the cost of providing attorney, curbing and repairing the squares and areas formed by the 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 and repairing 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 the 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 property owners along said streets and excluding the cost of paving, curbing, guttering and repairing the intersections, streets and alleys in said streets in the sum of $18013.68 and that the said City of Troy shall issue its bonds in the sum of $35,718.27, to secure the money to pay for said improvements. That said costs shall be paid in ten annual installments as provided by law and that for the purpose of raising such installments, there shall be issued internal improvement bonds of the City of Troy, Kansas, dated September 16th, 1920, numbered 1 to 100 consecutively, which shall bear interest at the rate of six per cent payable semi-annually on the 16th day of March and September 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:
| Bond No. | Amount | Due |
|---|---|---|
| 1 to 10 | $857.13 | September 16, 1921 |
| 11 | $500.00 | September 16, 1922 |
| 12 to 20 | $500.00 | September 16, 1922 |
| 21 | $857.13 | September 16, 1923 |
| 22 to 30 | $500.00 | September 16, 1923 |
| 31 | $857.13 | September 16, 1924 |
| 32 to 40 | $500.00 | September 16, 1924 |
| 41 | $857.13 | September 16, 1925 |
| 42 to 50 | $500.00 | September 16, 1925 |
| 51 | $857.13 | September 16, 1926 |
| 52 to 60 | $500.00 | September 16, 1926 |
| 61 | $857.13 | September 16, 1927 |
| 62 to 70 | $500.00 | September 16, 1927 |
| 71 | $857.13 | September 16, 1928 |
| 72 to 80 | $500.00 | September 16, 1928 |
| 81 | $857.13 | September 16, 1929 |
Bond No. 82 to 90 inclusive for $500.00 each due September 16, 1929.
Bond No. 91 for $857.13 due September 16, 1930.
Bond No. 92 to 100 for $500.00 each due September 16, 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 signature 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 or such bank 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 Bond.
Know All Men By These Presents:
That the City of Troy, in the County of Doniphan, State of Kansas, acknowledges itself to owe and for value received hereby promises to pay to the bearer the sum of — Dollars lawful money of the United States on the 16th day of September, 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 $35,718.27 issued for the purpose of paying the improvements on 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 duly and legally passed by the Mayor and Councilmen on the 16th day of September, 1920, and it is hereby certified and recited that all acts, conditions and things required by the 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 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 signature of said Mayor and the City Clerk, dated the 16th day of September, 1920, and duly issued.
H. A. Macomber
Mayor of the City of Troy, Kansas.
(Seal)
Attest: Grace B. Lingley
City Clerk.
Sec. III. That Mayor and City Clerk are hereby authorized and directed to prepare and execute said bonds and coupons 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 the holder of said bonds to make prompt payment of said bonds and the interest as provided herein and said Mayor and Council of 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. All ordinances and 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 14-1920.
(Seal)
H. A. Macomber
Mayor
Attest: Grace B. Lingley
City Clerk.