HomeMy WebLinkAboutOrd 0320 ORDINANCE NO. 320
CITY OF MISSION
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE
OF $260, 000.00 TEMPORARY NOTES OF THE CITY OF MISSION,
KANSAS TO PAY THE COST OF STORM DRAINAGE IMPROVEMENTS
WITHIN BENEFIT DISTRICT No. 33 WITHIN A PART OF MISSION,
KANSAS.
WHEREAS, the Governing Body of Mission, Kansas did on the 28th
day of September, 1966 determine that it was necessary and advisable to
improve storm drainage facilities within a part of Mission, Kansas
designated as the Cooper Creek Drainage area in the Master Drainage Plan
of the City of Mission and which drainage shed area is designated as Benefit
District No. 33; and
WHEREAS, the Governing Body of Mission, Kansas did on the 28th
day of September, 1966 create said district and authorize an order that
said work be done, which improvement is to be paid for by the issuance
of bonds and which improvement is authorized by K. S.A. 12 -6a01 et sequi;
and
WHEREAS, the consulting engineer has prepared final plans and a
bid letting has been ordered; and
WHEREAS, an eminent domain action has been filed in the District
Court of Johnson County, Kansas to obtain the necessary right -of -way and
construction easements; and
WHEREAS, certain obligations have been incurred for publication,
land acquisition, engineering, legal services and contingencies and said
work has progressed to a point where the issuance of temporary notes by
the City is and will be required to finance the same as authorized by K. S.A.
10 -123, K.S.A. 26 -201 and K.S.A. 12 -6a14;
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY
OF THE CITY OF MISSION, KANSAS:
Section 1.
That for the purpose of paying accrued and accruing expenses of
Benefit District No. 33 described in the preamble to this ordinance, there
shall be issued and are hereby authorized the temporary notes of the City
of Mission, Kansas in a total aggregate principal amount not exceeding
$260,000. 00, the estimated cost and expense of the improvement.
Section 2.
That the temporary notes authorized by Section 1 of this ordinance shall
be issued from time to time as required during the progress of said work,
shall be authorized by resolution, shall be dated as of the date when issued
respectively, shall bear interest at the rate of not to exceed six per cent
(6 per annum, payable semi annually, shall be made to mature not later
than the due date of the first installment of such bonds, or four years from
the date of said note, whichever is sooner, and shall be redeemed and can-
celled before or at the time permanent bonds are issued in lieu thereof.
Section 3.
That each of the temporary notes provided for by this ordinance and
the certification thereon shall be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF JOHNSON
CITY OF MISSION
Temporary Note
Series
KNOW ALL MEN BY THESE PRESENTS:
That the City of Mission, in the County of Johnson, State of Kansas, for
value received, hereby acknowledges itself to be indebted and promises
to pay the bearer the sum of Dollars
in lawful money of the United States of America, on the day of
,19 or prior thereto if called for payment as herein-
after provided, being redeemable and cancelable before or at the time
permanent bonds are issued in lieu thereof, with interest thereon from the
date of the note, at the rate of per cent per annum,
payable semi annually hereafter until the said principal sum shall have
been paid, both principal and interest of this note being payable at the
office of the City Treasurer of the City of Mission, Kansas; and the City
of Mission, Kansas is held and firmly bound by these presents and its
faith and credit are hereby irrevocably pledged for the prompt payment
of said principal and interest at maturity. The said City may call this
note for payment at any time before maturity by serving written notice
to that effect on the holder of this note or by publication once in a news-
paper of general circulation in said County at least seven days before the
date of such call, and may redeem this note on the date of such call for
the amount of the principal and the interest accrued to that date and
interest shall cease on such date.
This note is issued by the City of Mission, Kansas for the purpose of
paying the actual accrued unpaid cost of storm drainage improvements
within Benefit District No 33 (Cooper Creek Drainage area) within a
part of Mission, Kansas and is issued by the authority of and in full
compliance and conformity with the provisions, restrictions and limit-
ations of the ordinance of said City, number and of the
(Ordinance No. 320 cont'd)
Constitution and laws of the State of Kansas and particularly K. S. A.
12 -6a14, K.S.A. 26 -201 and K.S.A. 10 -123.
And it is hereby declared and certified that all acts, proceedings, conditions
and things required, to be done and to exist precedent to the issuance of this
note have been properly had and done and performed and do exist in regular
form and manner as required by the laws and Constitution of the State of
Kansas; that this note is negotiable and constitutes a general obligation of
said City; that this note does not exceed the estimated cost and expense of
said improvement; and that the total indebtedness of the City of Mission,
Kansas, including this note, does not exceed any statutory or constitutional
limitation.
IN TESTIMONY WHEREOF, the City of Mission, in the State of Kansas,
by the Governing Body, has caused this note to be signed by its Mayor,
attested by the City Clerk, and its corporate seal to be hereto affixed this
day of 19
Mayor
Attest:
City Clerk
SEAL)
STATE OF KANSAS
)SS
COUNTY OF JOHNSON
I, the undersigned, City Clerk of the City of Mission, Kansas, do
hereby certify that this temporary note has been duly registered in my
office according to law.
WITNESS my hand and the seal of said City this day of
,19
City Clerk
STATE OF KANSAS
)SS
COUNTY OF JOHNSON
I, the undersigned, Auditor of the State of Kansas, do hereby certify
that this note has been registered in my office according to law.
WITNESS my hand and official seal this day of ,19
Auditor of the State of Kansas
Section 4.
The Mayor and the City Clerk of the City of Mission, Kansas are hereby
f`
directed, authorized and empowered to prepare and execute each of the
notes described in this ordinance and to do all things necessary, as, if and
when the issuance of such note is authorized by a resolution of the Governing
Body of said City, and to sell and deliver the same at private sale, at par
and accrued interest, according to law to the lawful purchaser thereof upon
receipt of the purchase price and apply the proceeds of such sale to the
payment of the actual cost and expense of said improvement.
Section 5.
This Ordinance shall take effect and be in force from and after its official
publication.
Passed by the City Council this 12th day of July, 1967.
Approved by the Mayor this 12th day of July, 1967.
Mayor
Attest:
Yf.
City lerk