ORDINANCE NO. 264

ORDINANCE NO. 264

An ordinance authorizing and directing the issuance of Internal Improvement 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 18th day of July, 1929, wherein it was resolved that a sewer system and out-fall sewer be installed in the said City of Troy, 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 ONE. 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 TWO. That 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 THREE. 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 FOUR. 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. __________________

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 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 the 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 limitations.

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.

(SEAL)

MAYOR

ATTEST: ____________________
CITY CLERK

COUPON

(1st coupon __________ months)

____________________________ Dollars Per M thereafter
____________________________ Dollars Per M
____________________________ Dollars Per M
____________________________ 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 the ____ day of ______, 19.

(SEAL)

MAYOR

ATTEST: ____________________
CITY CLERK

STATE OF KANSAS :
: SS.
DONIPHAN COUNTY :

I, the undersigned, City Clerk of the City of Troy, Kansas, hereby certify that the within Internal Improvement Bond of the City of Troy, Kansas, has been duly registered in my office according to law.

WITNESS my hand and official seal, this ____ day of ____, 19.

(SEAL)

CITY CLERK

OFFICE OF THE AUDITOR OF THE STATE OF KANSAS

I, ____________________, Auditor of the State of Kansas, do hereby certify that a transcript of the proceedings leading up to the issuance of this bond has been filed in my office and that this bond was registered in my office according to law this ____ day of ______, 19.

WITNESS my hand and official seal.

(SEAL)

AUDITOR OF STATE

SECTION FIVE. The Mayor and City Clerk of the City of Troy, Kansas, are hereby authorized and directed to prepare and execute the bonds hereinbefore described and to cause said bonds to be registered in the office of the City Clerk and in the office of the State Auditor, and when duly executed and registered and rejected by the State Board of School Fund Commissioners, to deliver said bonds to the purchaser thereof, upon payment of the purchase price.

SECTION SIX. The Mayor and Council of the City of Troy, Kansas, shall annually make provisions for the payment of the interest on said bonds and for the creation of a sinking fund to pay the principal of said bonds at their maturity by levying taxes upon all of the taxable property in said City at the same time as the levy of other taxes, which taxes shall be collected and paid to the City Treasurer as provided by law.

SECTION SEVEN. This ordinance shall take effect and be in full force from and after its passage and approval and its publication in the Kansas Chief, the official city paper.

PASSED THIS 20TH DAY OF JANUARY, 1930

APPROVED THIS 20TH DAY OF JANUARY, 1930

(SEAL)

ROY V. VANBEBBER, MAYOR

ATTEST: ____________________
CITY CLERK