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HomeMy WebLinkAboutOrdinance 89the ~eXXowin~ p~eMeble and ordinanee an( the marne ~ o~er to P~I7 meet iuoh ~~iy~-A~ ia neae.~ ~o ~B O~o~ ~o, ~dopte~ by the g~m~ Oot~bO~* ~9~0.. u~turin~ ~ Ooun~y~ Rimmooota~ oe~tl~ttm ~,~. ~: ~s .' .~d~.,bt~l ~u~ for ~. ~aeivet ~b~ on ~e ~'~y o~ Ooteber;, 19 ........ ,..':~g~ ~or ~i~ ~e~t ~e~on t~m the ~te he~f ~til Paid at ~he ~te ,Of, S~..,~e~.,~t ~r ~, payable s~i-~ly on" ~/lat. la~ _~[.~fll ~ ~t~e_~:.~..~ ~r.~ a~oor~e wl~.~t up~ p~ ~ ~he.'~t daZ of ~ (~tober)~ i9__~ the OttF o~ Ool~bta of ~ait ~bla ~i~t~ be ~ t~y a~ he.BY ~Ooabi7 pledged to provide. ~ne~ for the P~mpt ~1~ ~ Re~o~ ~i~ m~ this ~: -- ~7or, day of October, 19~0. , the preamble to O~t~nanoe ~o.~ whieh motion ws~ seconded b7 ~uncilman . ~ ........... and upon roll call the ~amo was a~reed to by the followAng vote ~ Ayel: ..... ,~ The~u~n ~c~ mo~ ~he ~Optio~ O~ ~ ' ' . ~ u~on'~l '0~1 it w~ ~o~ted ~- the ~ollowin-' vote' Councilman introduced the ~ollo~;ing pF~u%le and ordinance~ and the s~ne ~'~as read in full: Filed and Recorded with me this day of 0ctober~ 1980. the Council. Whereas~ it is necessary pursuant to Section 77 of Chapter 8 o~ the City Charter ~or this City $~ issue its Certificates of Indebtedness, and Wheraas.~ said section provides that~he ordins~uce for the issuance of such certificates may b~ passed and enacted as an emergency ordino, nce. This Council hereby sad under this preamble declares that an emergency ~xists ~or the Lmnediate preservation of the public peace and safety and that in order to promptly meet such emergency it ia necessary '~o pass Ordinance No. as ~a~ emergency ordin~ace. Adopted by the ~ouncil 0c~ober /~. ~ 1950. lJayo r. gn Ordinance authorizing th~ issusa~ce of Certificates of Indebtedness of the City of Colum~bia H~ights in the ar~ount of $S~61.8~ to defray the expense incu~Ted or to be incurred in making Local Improvem~nt No. $8A, and fixing their TH~ CITY O? COLU~!BIA i~I©HTS DOES O~DA!~,: Section 1. That this Council hereby finds ~a~d determines that th~Fe heretofore duly m~d legally ordered to be made a certain local improvement~ known and numbered as "Local Improvement ~o. S8 A" an.l thst the expens~ incuFrsd or to be incurred in the ms,king of ssid improvement is the suma of -1- Section 2. m ~ ~ha~ in order to defray the ~expense incurred or to be incurred in the making of said local improvement it is necessary -~-~ a~.~ expedient at this time to issue th~ City's negotiable Certificates of ind~bt~m~ .... ~ ~ ,.Of ~i~8~61.55~ and this Cotu~,cil hereby determines to i~sue such ce,~i~icates in said ~ount. That said certificates shall be dated October i~ 19~0~ shall bear interest at the rate of 8~J per annum~ payable semi-annually on the first days of April and October in each year~ and shall be payable as to both principal and interest at the Colom~bia LTational Bs~k~ in the City of Columbia Heights~ l~innesota. Section 8. That said ce~%i~icates shall be numbered~ in m~nom~natzon maturing as fol'~ows: Numb e r .~fat u r it y ~nount 1 October i~ 198i $150.00 2 October i~ 1951 $812.80 ~ October l~ 1981 $499.25 4 October l~ 1982 · ~o,~u. O0 5 October i~ lgS3 $500,00 6 October I~ 198~ $500,00 7 October I~ 1985 ~o,~O.O0 8 October l~ 1988 $500.00 Section ~. That said Certificates of Indebtedness and the coupons thereto annexed sh~il be in substanti~ly the following formwith the necessary variations as to num~0ers~ denomir~ations and maturitie~ ~,~hich said form is hereby approved ~nd adopted: ~IT~D STATES OF A[,~ERICA~ STATE OF HIE~SOTA~ COUNTY OF CITY OF COL~IA ~!GHTS~ CERTIFICATE OR ...... w~" That the City of Col%m~bia Heights~ Anoks~ I~,0~7 ALL ~,T BY TH~SE Coun~y~ ~'~inn~ota~ certifies that it is indebted ~d for value r~ceiv~d h~reby promises to pay to bearer the s~ o~ Dollars ($, ) on the First ~ ~ay of October~ 19~ togshter with interest hhereon from the date hereo~ until paid at th~ rate of six per cent per annum~ payable ~emi-~nu~lly cn the fir:~t days of April and October in each year in '~ s. ccor~an~e with and upon pre- sentatiou and surrender o~ the attached interest coupons as they severally become due. Both principa~ ~nd interest of this Certificate are pay~.ble at the C o National Bank in t~e City of Col~bia Heights~ ~inne~ota~ in lawful money o~ the United States of ~a~rida ~ud to provide moneys for the prompt pa~ent of such prin- dipal and interest a~ th~ ss~e become due the ~ull faith2 credit s~d resources said City o~ Columbia Height~ have b~en ~d are hereby irrevocably pledged. This Certificate of Indebtedness is issued by said City pursuant to in full conformity with the Constitution aud la~'zsiof the State of ~,~innescta and the provisions of the Charter of said City thereunto enabling~ and is issued for the purpose of defraying a part of the expense incurred or to be incurred in the making of a local improvement in said City~ all as described mhd set forth by 0~din~ce i~o. of said City duly passed ~.d enacted on the __ day of 0ctober~ 19S0. It is hereby C~RT!~tED ~ud RECITED that sil' acts, conditions and things required by the Constitution and laws of the State o~ ~'~inne3ota~ and the Charter of said City to have been d0ne~ to have ~ ~--~ ~ n~p~n~d and to have been perform- ed precedent to and in the issuance of this Certificate~of Indebtedness hav~ been ddne~ have happened and have been performed in regular and due fo~n~ tLm. and manner as required by law~ ~n~d that this Certificate of indebtedness~ together v~ith ali other debts o~ said City outstanding on the date hereof~ does not exceed any constitutional~ statutory or charter limitation of indebtedness. In Testimony lYhereof~ the City of Columbia Heights~ ~uoka County~ ~,finne,,ota~ by its City Coundil~ ~as caused this Certi[icate o~ Indebtedness to be signed by its ~fayor and City k~anager and countersigned by its City Clerk and sealed with the se~l of s~&d city and the interest coupons hereto at~ached to be executed and authenticated by the facsimile si&~a:ures of the [.~ayor s~d City H~tager ~:d has caused this Certificate of Indebtedness to be dated ~ of ~he ~irst day cf 0ctober~ 19~0. · Counter~igned: ;,Iayo r ¢ 0ity of Col~umbia Heights¢ ~,~innesota. City Clark. City (?cfm o~ Coupon) On the ?irst day of April ('0ctober)~ 19 ~ the City of Columbia H,~ights~ Anoka Cou~ty~ I~[inn~sota~ ~;,~ill pay to bearer at the Columbia ~Ua~ tmonal' Bank~ Col~nbia Heights ~ ~;~inn. ~ the s~ o f D· -, ~-~ ~1~,.~ being the semi-~nual installmen~ of interest due thgt day on its ~rtl~'~zca~e' of Ind~btsdness~ da~ed October i~ i9~0~ ~,To. ~. City Section 5. That s~id certi~icates of indebtedne~s shall be signed by the ~Iayor and City ~:[~ager s~d countersigned by the City ~lerk and sealed with the ~eal said City and vna~ ~h~reto attahhed shall be ex~cut~d and authenticated by the printed~ lithographed or engraved ~acsimile signat~es o~ the ~[ayor and City Sectio~ 6. That the full ~aith~ credit and resources of said City of Columbi~ Heights be and they are hereby irrevocably pledged to provide money~ for ~.~ prompv payment o~ the principal and intere~z of said certificates as such principal ~d interest respectively become due. Section 7. That said certificates of indebtedness be used in making pay- ments on contracts for the said improvement and if the moneys received from assess- merits levied for such improvement are i~.sufficient to meet the payment of principal and interest of stone, the Council shall provide the moneys for such payment. Section passage. 8. That this Oramnance shall take effect immediately upon its Passed by ~h~ Council October lO30 Filed an~ Recora~d with me this day of October~ t9~0. Secretar~ of the Council. Thereupon Councilman ~~ moved the adoption of the preamble to Ordinance ~!o. ~ ~ which motion was seconded by Councilman .. ~P~~u~ and upon roll call the same was agreed to by the roi!owing vote: Ay es: ~.~ !~ays :.~ ~ Thereupon Councilm~aa moved the adoption of Ordinance No. ~ as an emergency ordinance~ which motion was seconded by Council- mal~ ~ ~ Ayes  catt '. was adopted by the ~ol!ov~ing vote: / -4-