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