HomeMy WebLinkAboutOrdinance 103 Bein~ an Ordinance entitled" An Ordinance authorizing
the sale by the City Treasurer of ~ ~-~, ~ ~er~.ency
Debt Certificate."
Whereas owing to the excessive delinquincy in the
receipts from taxes and other sources, the receipts from
taxes and otn~r sources have for such unfor seen causes beco~ae
insufficient for the ordinary exoenses of the City and the
City is without ~u~.ds to carry on and pay the cost of City
Govern~.ent and to furnish relief to the poor and dependant,
THIS COLH?CIL, hereby and under this preamble declares
that ~a emergency exists for the immediate preservation of
th~ public peace and safety and that in order to promptly
meet such emergency it is necessary to pass Ordinance ~o. /~
as an mer~ency ordi~ance.
Dated November I0, 195~.
Offered by ~
Seconde~ by
~Jayor
Segret~.y to the Co~cil
ZI~- 0RDi~f~ifCE AUTH011iZii.~O Ti~ S~E BY ~?~_~. CITY ~'V'_~$~j~TV~ O?
Et~RO>3~CY DEBT ~,~mv~,~ ~m
The City of Columbia Heights does Ordain:
Section 1. That the City Council of the City of
Co!v~.~bia Heights, l."innesota, does hereby authorize the
sale by the City Treasurer of ~-~oO, ~ ~ergency Debt
Certificate, to be dated the /~ d~.:~y of h~ovember, 1932, to
be.ar interest at the rate of six per cent per eantun,
interest to %e payable at the maturity of said dertificate,
to be in number one (i), and shall be payable aa to both
principal and interes/t~j~t ~the~ Central National B~'~-nk, and
shall mature on ~///d~'~-~-~ // 193~.
That said certi£icate shall be in sabst~ntialiy the
following for~:
tfo.
This is to certify that the City of Columbia HeiSts,
~ itnne sot a,
in the Cc, unty of ,~aoka .aa~d St~te of '~' is indebted
to ~d for value recei';~ hereby, p~]~ises~_., to/pay to vhe
bearer hereof on ~e /~ de.y off //~4_.Lm.~1933, the
ink,rest thereon f~c2 the dt~te hereof until paid at
~ =nu surz~en~er
rate or six ~er cent per ann~ u~:on :resentation ~ ~
of this certificate.
This certificate for ~ ~O ~ is issued by said City
Col~bia Heights, Ifinnesota, to provide for temporary
deficiencies in the revenues of said Oity, t~.e rece s
taxes and other so~ces having from unforeseen c:~uses become
z~su~zzczent for the ordinary exvenses of the City and is
issued ~ursuant to the Charter of the said City and the
Constitution nnd laws of the ~d;tate of ~[inn~ota thereunto
enabling and in f~l conformity therev;ith, in accordance ~%th
the provisions of Ord-in~nce _.Yum~ber
It is h.;~'eby Certified and }:~eci'~ea' tlaa~ all acts, conditions
and things ~equired by the Charter of said City ~nd by the
Constitution and laws of the State of ]finnesota, to have been
done, to have'hav~.~enea sm_d to have been ~_~ormed prededent
and in issuance 6~ this certificate hays been done, have happened
and have been performed in regular and aue form, times
manner, and that this certifzc:_ye, together with ~il ot~r
indebtedness of th.. said City outstanding on the date hereof
does not exceed any constitutional, statutory or charter
li~itation cT indebtedness.
In 7fitness w~ere~f, said Git7 of Col-~ab!a lle ights, ~noka
Co-~ty, ~innesota, by i~$ Co~ucil, has caused t~'~is certi~a~e~
to be executed in its behalf by zhe ~ayor and City ~ager,
counzez'signed by the City Clerk, and sec!ed with its of Ticiai
s .... ~ ..... dhss csus:~d this certificate to ~e dated as of the
day o f/~~t. ~!~ o 2.
Section 2. That this certif±c.~,te shall be executed in
of said City by the f>~yor ,nd City ~"a~ G~r, asad co:;ntersigr, ed
b~ the Citv~ ,C!erk~., and sealed s~zith theo~_,cicl~'e~ .,se~$,°f~.~,sa'~id
C~ty :~nd tnu ~ul! fcith~ o~edit a~ad resources o, sa~a ~u~ shall
be ~d hereby ~.re iz'z'evocab!y pledged to the prompt and
pa~aent of both ~rincipa! .~.d interest of said certific~ze
whe~ it becc~ues cue.
authorized una directe~ to set± saza certmz
less ths. n par v:71ue am_d accrued ii~terest.
Section 4. That this Cou~cil hereby declares that ~'::n emerge~_cy
exists for the ~r ompt issuance of said ~er~]iency Debt Certificate
owing to the fact that the receipts from taxes and other sources
have £rom '~aforseen causes become insufficient _-)or the ordinary
e~pe~ases of the City.
Section 5. That this ordinance being necessary for the
~m~ediate preservation of the public peace, health and safety
is herebl~ declared to 2e an emergency ordinance and shsl!
taka effect i.~ediately upon its passage.
Passed by the Council