ORDINANCE NO. 261
Handwritten notation: “Repealed by #261” [appears to read this way on the page]
An Ordinance authorizing and directing the issuance of Internal Improvements Bonds of the City of Troy, Kansas, in the sum of $60,000.00 for the purpose of providing funds for the construction of a sewer system for the City of Troy, Kansas, and its inhabitants.
WHEREAS, A resolution was duly passed by the Governing Body of the City of Troy, Kansas, on the 13th day of March, 1929, wherein it was resolved that a sewer system and out-fall sewer be installed in the said City of Troy, Kansas, and that the Governing Body take the necessary legal steps to carry out such project, and,
WHEREAS, Pursuant to the passage of said resolution notice was issued by the Mayor and City Clerk and said resolution was duly published in the manner prescribed by law.
NOW THEREFORE, Be it ordained by the Governing Body of the City of Troy, Kansas, as follows:
SECTION (1) That for the purpose of providing funds for the construction of a sewer system for the City of Troy, Kansas, and its inhabitants, there shall be issued and are hereby issued, sewer bonds of the City of Troy, Kansas, in the total principal amount of $60,000.00 dollars.
SECTION (2) The said issue shall consist of 60 bonds numbered from 1 to 60 inclusive, 60 of said bonds being in the sum of $1,000.00 dollars each. All of said bonds shall be dated the 1st day of February, 1930 and shall become due serially as follows: Three $1,000.00 bonds on the 1st day of February, 1931, and three $1,000.00 bonds on the 1st day of February each year thereafter for 19 years. Said bonds shall bear interest at the rate of four and three-fourths per cent per annum, payable semi-annually on the 1st day of February and the 1st day of August. Both principal and interest of said bonds shall be payable at the office of the State Treasurer of the State of Kansas, in the City of Topeka, Kansas.
SECTION (3) Said bonds shall be signed by the Mayor and attested by the City Clerk of said City, and the corporate seal of the City shall be affixed to said bonds, and the interest coupons which shall be attached to said bonds shall be executed with the fac-simile signatures of said Mayor and City Clerk.
SECTION (4). Said bonds shall be executed in the form and shall contain recitals substantially as follows:
UNITED STATES OF AMERICA
STATE OF KANSAS
DONIPHAN COUNTY
CITY OF TROY
No. __________
INTERNAL IMPROVEMENT BOND
KNOW ALL MEN BY THESE PRESENTS, That the City of Troy, in the County of Doniphan, State of Kansas, for value received hereby acknowledges itself to be indebted and promises to pay to the bearer the sum of
$1,000.00 Dollars
in lawful money of the United States of America on the 1st day of February, 1931 with interest thereon from the date thereof at the rate of four and three-fourths per cent per annum, payable semi-annually on the 1st day of February and August in each year after the date thereof until said principal sum shall have been paid, the first interest coupon however becoming due on the 1st day of August 1930, upon presentation and surrender of the interest coupons attached, bearing the fac-simile 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 of 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 60 bonds of like date and tenor except maturity, aggregating the principal sum of $60,000.00, issued by the City of Troy, Kansas, for the purpose of providing funds for constructing a sewer system for the City of Troy and its inhabitants by the authority of and in full compliance with the provisions, restrictions, and limitations of the Constitution and laws of the State of Kansas, and this bond and all of the other bonds of said series and all of the interest thereon are to be paid by the City of Troy, Kansas.
And it is hereby declared and certified that all acts, conditions, and things required to be done or to exist, precedent to and in the issuance of this bond, have been properly done and performed and do exist in due and regular form and manner as required by the Constitution and laws of the State of Kansas, 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 Troy, in the State of Kansas, by its Mayor and Councilmen 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 attached hereto to be signed with the fac-simile signatures of said officers and this bond to be dated this 1st day of February, 1930.
MAYOR
(SEAL)
ATTEST: ____________________
CITY CLERK
COUPON
(1st coupon ______ months)
________________ dollars Per M thereafter
________________ dollars per M
________________ dollars on
________________ dollars on
No. __________
On the ____ day of ______, 19, the City of Troy, Kansas, will pay to the bearer the sum of __________ dollars at the office of the State Treasurer of the State of Kansas, in the City of Topeka, Kansas, being ____ months interest on its Internal Improvement Bond dated ____ day of ______, 19.