HomeMy WebLinkAboutOrdinance 97 _ ,,za_.~ance authorizing
Being an 0~dimance entitled
t'he sale b~ the City ~reasurer of ~.,~,000 O0 E,.uer:ency
~e~t~ficate"
Debt ~ ~ ' .
Whereas cwinc to the excessive aelinquincv in the receipts
from taxes ~d other ~u_c~s, recei.vt s from tastes and
ot~,SL~ so'drces ~ave for such
insufficient for the ordinary e~:oe:,_ses of the City and the
City is ~:ithout ~u~ds to c:.~r~ on and pay the cost:of City
Gover~ent ~nd to furnish re!
~ to the your .... ' de-~e':dant,
This Council
that an embrgency exists for the i:,~uedia~te oreservaticn of
the public '2eec. ce '.i?~d safety xnd t.~.: in otter to ~:rom-2~!¥
meet such emergency it is necessary to vass Ur~n~=nce
Number ~ as an emergency ordz~ ~ce.
Off ar.sd by ~-~-' ' ': Second
Adopted bv the Council
Filed and received D /~( 193~
$2,000.00
The City of ColUmbia Heights does Ordain:
Section'!. That the City Council of th~ City of
Col~abia Heights, ~. r_nesota, doe~ hereby authorize the
sale by the City Treasurer of ;~2,000~O0~aerAency Debt
Certificate to be dated the ~/.. day of (,.f~ ,~ 19,!7'
to bear int~r~st ~t the rate of six ~er qent per annmm,
interest to be payable at the maturity of sa~d Certificate
--
to be in n~aber, one (!), and shall %e :.~ayable as to both
~rincipa! und ~terest at the Coi~_m~bia ?aticxa! Bank, e~nd
shall mature . .-~ :., /~ !93~.
That s~iC/certifi3ate shell be in su~;.stui~zia!tV Zhe
foilowi;~g form:
CiTY
~ COL!~!~iA KE!ONTS
No 1 82 000 O0
This is vo certify that vhe City of Ccttu4bia
in the Cou~.ty cf .eno:ca and SZa~te of ~i~neseta, is znae~:~ted
to aha f~r v lue received hereby ~cmis.~s to pa~ to the
bearer hereof the sram of Tv, o Thba:::~and ~" 000 0 Ci) DO]lars'
at zho Coiu~ubia National Ban; , ~:ibh inte:~est thereon z_'o,~ the
date hereof u:~til 3aia a'~i 'he :~,t~t,3 of six p~r cent ?er annu:u,
u:3on presentation aha surrender of this certific'::~te.~ .
This Certi~lc~xt.~ for ~ 000 O0 is is~uea
Co!~mP~b&a i~ei kts~ ~'i-cnesot~ to vrovio, e for temporary
deficiencies in the revenues of ~a'kd City, the receivts from
taxes axe other sources havin{x~ fror~ unfors{en
insufficient for the ordinary ex'}enses of tl~e City and is
' ~ty and the
issued lursuant to the Charter of tho ~ami w=
Constitution and l~iws of the State of ~'ilnesota thereunto
enab!i~6 end in full co!for_ ity therev~ith~ in a':cord~':nce with
the provisions of Ordi.lance ?umber ~2 ·
It is hereby CoPt!lined and Recited ~t i~ acts, coqditions
and things reouired_ by th~ Cheroot of C
Co~stitutizn c:nd !:scs of the o~ate of ,~znnesota~ s.~ been
doue~ to have hag~oned and; to have been perforr,ed 3Pecedent to
and in issuance of this certificate kayo been
aha have been performed in regute, r and due form, ti:zes and v~a~ner
and that this certifLcr, te, together with all other indebtedness
of the sold City outst:andixE orz Zh3 ~"te hereof; does ~ot exceed
.... hatter liz..it~::'tion o~
any constitutional, sb~:~tutozy or o
indebtedness.
-In Witness '?ihereof, said City of Coltu~bia H~ir~hts,
County, ~i.unesota, by its Counci]~, Las c~used th~s certificate
to he executed in its behalf by tho ~ ~-yor ~,~nd City
countersigned by the C~t'~= ~ Clerk, s. nd sealed ~vith its official
seai,~and has c.~tused this certificate to b.e dated as of
Seotio~ 2. Theft this certificate s~:.~:li be ezecute2
behalf of said City by the ~:~:yor t~nd City ~%naCer and c~,u~.~r-
signed by the City Clerk, ~nd sealed v, ith the official se~t of
z~zth, credit and resourc=~ c~ s~id City
said City and the full ..... ~
sh~lt be and here%y are irrevocably pledged to the pro~t ~nd
full payz~ent of both the principal and interest of s:aid
certificate when it beco~es due.
Section 3. That the City Treasurer be and she hereby is
authorized and directed to sell a'aid certificate ~t not less
Zh~n par v~!ue and accrued interest.
Section 4. Th~-~t this Council he. reby dec!ar'~s that an
emergency exists for the prompt issuance of said E~nergency
Debt Certific~ te owing to the fact thu. t the re~:ei?ts from
ta~es aha other sources .have from t~:~fcrs~er~ causss
insufficient for the ordLaary e::penses of the City.
Section 5. That this ordinau~ce belnE~ necessary for the
iz~nediate preservctio~% of tl;e public 9~ace, health and saZety
is hereby declared to be .un emergency o~,di:~_~=nce ~.nd shall
effect L.~ediately upon its vazsaoe.
~dayor