Ordinance No. 201
An ordinance providing for the issuance of internal improvement bonds by the City of Troy, Kansas in the sum of $46,724.29 to pay the cost of improving certain streets in the said City and repealing Ordinance No. 194 and all other ordinances or parts of ordinances in conflict herewith.
Whereas, the cost of curbing, guttering, excavating and paving Liberty Street from the Chicago, Rock Island & Pacific Railroad Tracks to the north line of Locust Street 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 improvements of 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 assessments levied upon the lots and pieces of ground liable therefor has been ascertained and is hereby determined to be $32,856.69 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. 197 of the 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 $4,325.57 and there remains unpaid by the property owners specially benefited and assessed the sum of $28,531.12 and that bonds will be issued by said City of Troy for the payment of said balance together with the cost of paving, curbing, guttering 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, curbing, guttering and excavating Liberty Street from the Chicago, Rock Island & Pacific Railroad 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 therein is the sum of $18,209.87 and that said City shall issue its bonds in the sum of $46,772.99 to secure the money to pay for the improvements. That said cost 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, dated the 23rd day of September 1920 numbered 1 to 61 consecutively, which shall bear interest at the rate of six per cent payable semi-annually on the 23rd 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 shall be numbered and shall mature in amounts as follows:
| Bond No. | Amount | Due |
|---|---|---|
| 1 | $772.99 | September 23, 1921 |
| 2 | $500.00 | September 23, 1921 |
| 3 | $100.00 | September 23, 1921 |
| 4 to 7 inclusive | $1,000.00 each | September 23, 1921 |
| 8–11 | $1,000.00 each | September 23, 1922 |
| 12 | $500.00 | September 23, 1922 |
| 13 | $100.00 | September 23, 1922 |
| 14–17 | $1,000.00 each | September 23, 1923 |
| 18 | $500.00 | September 23, 1923 |
| 19 | $100.00 | September 23, 1923 |
| 20–23 | $1,000.00 each | September 23, 1924 |
| 24 | $500.00 | September 23, 1924 |
| 25 | $100.00 | September 23, 1924 |
| 26–29 | $1,000.00 each | September 23, 1925 |
| 30 | $500.00 | September 23, 1925 |
| 31 | $100.00 | September 23, 1925 |
| 32–35 | $1,000.00 each | September 23, 1926 |
| 36 | $500.00 | September 23, 1926 |
| 37 | $100.00 | September 23, 1926 |
| 38–41 | $1,000.00 each | September 23, 1927 |
| 42 | $500.00 | September 23, 1927 |
| 43 | $100.00 | September 23, 1927 |
| 44–47 | $1,000.00 each | September 23, 1928 |
| 48 | $500.00 | September 23, 1928 |
| 49 | $100.00 | September 23, 1928 |
| 50–53 | $1,000.00 each | September 23, 1929 |
| 54 | $500.00 | September 23, 1929 |
| 55 | $100.00 | September 23, 1929 |
| 56–59 | $1,000.00 each | September 23, 1930 |
| 60 | $500.00 | September 23, 1930 |
| 61 | $100.00 | September 23, 1930 |
Said bonds shall be signed by the Mayor and 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 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 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, acknowledges itself to owe and 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 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 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 an ordinance duly and legally passed by the Mayor and Councilmen on the 20th day of September 1920. And it is hereby certified 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 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 City Clerk, dated the 23rd day of September 1920 and duly issued.
H. A. Macomber
Mayor of City of Troy, Kansas.
(Seal)
Attest: Grace B. Lingley
City Clerk.
Sec. III. The 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 holders of said bonds to make prompt payment of said bonds and the interest 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. Ordinance No. 194 and all ordinances or 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 20-1920.
(Seal)
H. A. Macomber
Mayor
Attest: Grace B. Lingley
City Clerk.