HomeMy WebLinkAboutOrdinance 79.%:
and or~inance decl~rin~ an~ emergency m~d th~ ~me w,,.:~ re~d in full.
3et~ ~ 0~dtnance entitled "An 0rd~oe authorizing
the s~le by the City Treasurer o~ $~000.00 Emergency Debt 0e~tificate.
~hereas, owing to excessive 6elinquency in the receipts from
taxes and other sources,the receipts from taxes end other sources
have for such unforseen causes become insufficient for the ordinary
expenses of the City mud the City ~s without funds to carry on .~
'and pay the cost of City government,
This Council hereby and un,er this preamble declares that nn
emergency exists for the immediate preservation of the public peace
and Safety and tha~ in order to .promptly meet such emergenc2 it is
necessary to pass Ordinance Number :7:~:::_as an emergency ordinance,
Adepte~ by the Council Janua~ ~ ,19~0.
Filed and recelved.this_~__~day of
(¢it~ ~e~)
ouncilman ..... '
_ ~...~ ~ ........ ._thereupon moved the adoption of
,the s:id preamble t~ordinmuce N_~_~_._~_,which-' motion was seoond~d
by 0ouncilman ....... -- ..... .,: .... : ................ , and on the motion being put. on
roll cmll the following vote was t~ken and recorded:
NaTs: ....... ,:,..::.: .: .~ .... ~ ..... ___
ahereupon said preamble being agreed to by at least four members
of the Council was declared duly adopted an8 passed,
Counoilman ~,_ ~..z~3-%~hereupon moved the adoption of
Ordinance No',~.~_as aneMergency ordinence,which motion was seconded b
following .vote was taken and recorded:
ORDI~CW. ~U~R 7 ~,..
AN ORDINANCE AUTHORIZING THE SALE BY THE CI~
T~ASURER 0F $$O00~00E~RG~OY ~EBT CERTI2ICAi~E.
~ OI~ O~ 00LUMBIA ~IGHTS DOES 0~AIN:
Sectien 1, That the 0i~y council of the City o~ Col~bia
Heights, ~i~esota,does hereby authorize the sale by the City
Treasurer of $~000~00 Emergency debt Certificate,to be dated
the._.4~" ..... _~.day of J~uary,19~O, to bear interest at the rate
of six per cent per a~um,interest to be payable at the ~turity of
said Certificate, to be in number One (1) ansd shall be payable
to both principal and~erest at the Col~bia National Ba~ and
shall ~m~re ...... ~~ ~ , .... ,19~O.
That said certificate shalt'~:be in substantially the followi~
form:
UNITED STATES 0~ AMERICA,
STATE 0~ MINNESOTA,
COUNTY O~ ANOKA,
CITY 0~ COZUNBIA HEIGHTS.
EMERGENOY DEBT
CERTIFIOATE.
No. 1 $5000.00
This is to Certify that the City of Columbia Heights, in the
County of Anoka and ~tate of ~innesota,is ~Ln6eb~ed to and for v~lue
received hereby promises to pay to the bearer hereof the sum of
Five Thousand and no/lO0 Dollars ($~000.O0},at Oo!umbla National
bank ,with interest thereon from the date hereof until paid at the
rate of six per cent per annum,upon presentation and surrender of
this certificate.
This 0ertificate for $~000,00 is issued by said 0ity of 0olumbi~
Heights, ~innesota,to provide for temporary deficiencies in th'e revenues
of said City ,the receipts from taxes and other sources having £rom
unforseen causes ~ecome insufficien$ for the ordinary expenses of the
0ity,and is issued pursuant to the 0hatter of the said City ~nd the
Constitution and laws of the State of~innesota thereunto enabling
and in ~ull con£ormit2 therewith,in ~ecordance with the provisions of
0rdin~nce No.~ ~ ~ ...... .
It is hereby 0ertified and Recited that all acts,conditions and
things re~uire~ by the 0hatter of said City and by the Constitution and
laws of the State of ~innesota,to have been done,to have happened and
to have been performed precedent to and in issuance of this certificate
have been done,have happened and have been performed in regular and
due form,times and manner and that this certificate, together with all
other indebtedness of the said City outstanding on the date hereof,
does not exceed ~ny constitutional, statutory or charter limitation of
indebtedness.
In ~itness~ ~hereof, said City of Columbia Heights,, Anoka County,
~innesota, by its °ouncil, has caused this certificate to be executed
in its behalf by the Nayor and by the City l~anager and countersigned
by the City Clerk and sealed with its official seal,and has caused this
certificate to be dated as of January. ,19~0.
Section 2' That this certificate shall be executed in behml£
said ~lty by the ~yor and City ~anager and countersigned by the
City 01erk,and sealed with the official seal of said 0ity.and~the~ull
faith,ce~dit and resources of said City shall be and hereby are irrevoc-
ably pledged to the prompt and full payment of both the principal and
interest of said ce~ti£ieate ~hen it becomes due.
Section 3. That the City Treasurer be and she hereby is authorized
and directed to sell s~id certificate at not less th~n par value and
accrued interest.
Section 4. That this Council hereby declares that an emergency
exists for the prompt issuance of said Emergency Debt Certificate
owing to the fact that the receipts from taxes and othor sources have
from unforseen causes become insuficient for the ordinsry e~penses
of the City.
Section '~. That this ordinance being necessary for the immediate
preservation of the public pease,health and s~fety is hereby declared
to be an emergency ordinance and shall t~ke effect immediately upon its
passage.
Passed by the Council January ~'__~: ,19~0,
an~ry,19~O, -~. ~/~ .-~ / .... ayor-.