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HomeMy WebLinkAboutOrdinance 95/Y PREid[BLii T0 ORDINANCE }~!~'}KR ,, ~/ Being an Ordinance entitled" An 0rdina~ce authorizing the sale by tb~ City Treasurer of ~ ~Sp~,~' - ~ergency Debt Certificate." Whereas owing to the excessive delinquency in the rec~pts from taxes and other sources, the receipts from taxes and other sources have for such unfor,~,een causes becom~ insufficient for the ordinary exp~nses of tY~ City and the City is without funds to carry on and pay th~ cost Of City Government,, snd to furnis:- relief to t' ~.-poor ~d de'~endant This Council hereby and under this preamble declares that an emergency exists for the ir~mediate ~reser~ation of the public peace and safety and that in order to promptly meet such emergency it is necessary to pass 0rdi:~ance N~umber as ~n emergency ordinance~ Adopted by the Council August .~ 1931. ....Ayes Nayes Filed and Received August ~ 1931 Mayor ORDZ'.,fd'~ ,~ ;~.UT~' ~'? THE BY AN ..T ~ .... ~ ~0RI~z~G Sf~7 ~.,,= CI~ TL'.ZAS~ER 0F The City of Col~bia Heights does. Ordain: Section i. Tha;t the City Council of the City of Columbia Heights, l~,~innesota, does hereby authorize the sal~ by the ~z y Treasurer of ~ -~ ~9 ~ Emergency Debt Certificate to be dated the day of I~3i, to bear interest at the rate of six per cent per annum, interest to be payable at the maturity of said Certific-.~te, to :~8 in number, one (!) and shall be imyable as to both principal and interest at the Columbia National Bank, .-cad shell mature 193 ~/.. That said certificate shall be in substantially the followi ~g form: ~Yi~ITED STATES 07 A)~RICA STATE OF CITY OF COLbU~BIA HEI~X-!TS E~tERG~'~CY DEBT C~RTIFICATE This is to certify that the City of Coiu~abia Heights, in the Covaty of ~oka and State of ~inneso ta, is indebted to and for value received ~'~b~ oromises to pay to the bearer hereof the s~ of ~' / $ at the ~ot~bia NatiOnal ~ank, with zn~re~t zb~reon from date hereof until paid at t~ rate of six per cent per upon presentation and surreal, der o.~.~his certzf~ca~e. This C~rti~icate ~r ~ ~ .... -~' is issuea bi' said City of ~ ~ ~"-~=, ,= ta to vrov~de for temoorary Coi~bia ~_e~ghts, ~ k~.n~so , deficiencies in the revenues of ~aid. City, ti-~e receipts from taxes and other so~ces havir~g ~rom unforseen causes become insufficient for the ordinary expenses of t~ City~~ issued ~ursuant to the Charter of the said City and the Constitution and laws of the State of }[innesota thereunto enabling and inffuli conformity therewith, in accordance the 0rovisions of 0rdinano N ber /~ '~ to fur .ish r~lief to ~'?~ poor ~nd depe/~da~t, It is hereby Certified and Recited that all acts, co~ditions and things required by the Charter of said City and by the Const%~ution 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 h~ve been done, have happened and have been performed in regular and due'form, times and manner and that this certificate, together wi~h all other indebtedness of the said City outstanding on the date hereof, does not exceed any cons~%tutional statutory or charter ii~itation of indebtedness. In Witness Whereof, said City of Columbia Heights, Anoka County, ~innesota, by its Council, has caused this certificate to be executed in its behalf by the ~ayor and City ~anager, smd countersigned by the City Clerk, and sealed with its official seal, and has caused this certificate to be dated as of ~~ ~ ~ 1931. Section ~. That this certificate shall be executed in behalf of said City by the Mayor and City ~f~<iaager and counter- signed by the City Clerk, and sealed with the official seal of said City and the full faith, credit and resources of said City shall be and hereby are irrevocably pledged to ihe prompt and full pa~aent of both the pmincipa! and interest off said certificate when it becomes due. . Section 3. That the City Treasurer be and she hereby is authorized and directed to sell said certificate at not less than par va!ue~and accrued inter, est. Section 4. That this Council hereb~ declares that an emergency exists for the prompt issuance of said Emergency Debt Certificate owing to the fact thaz' the receipts from taxes and other sources have from u~.~forseen causes become insufficient for the ordinary expenses of the City., and to furnish relief to the poor and aependant. Section 5. That this ordinance being necea::ary for the i~:m~ediate preserw tion of the public ~eace, he~th and safety is hereby declar~a to be an emergency ordinance and shall take effect immediat~iy upon its passage. Passed by the Council Filed and Recorded Mayor