HomeMy WebLinkAboutOrdinance 116 3e!~ an OrdAnance entttle~ ~ Or~tnance authorizing t~e sale
the Ci~ ~easurer of $~1~5 5 ,~-~ ,~, Emergency DeBt Certificate.a
Whereas owing to the excessive ~elin~xenc~ im t~e receipts fram
taxes ~..au~ ct,her sources, ~e ~eceipts f~om ~s ~ other so. es ~ve,~
for '~.~fforseen causes, beco~ i~ficien~ for t~ or~ e~mnse~
of the Oity ~ ~ Oity is wit~ut ~ to c~~ on ~ ~ the cost
Oity~ ~ve~nt.
~EiS OOUNOIL, here~¥-au~ umda~ this preamble dmclares t~t ~ ~r-
ge~' e~sts for the i~ate preze~ation of t~ ~lic peace ~ ~e-
t~ ~ t~t in order to.pro~tly ~t ~ ~er~n~ it la ~ceas~~ tO
pass ,o~din~ce No ?/:~ ..... as ~ ~r~n~ ore--ce.
Offere~ :~
Call 'N~w:Aves:
Se~cret~ to the-CoUncil ~
DEBT OERTIt~I~ATE,
TEE ¢I :OF COLUM Lt , DO S O N:
~ergencY'Deb$ Oartificate, to ~e ~e~ ~e ~:0~_~..:~ of: ~ ..... '19~0~
~e~ tntere~t ~t ~e ra~e of six per ~en~ ~r ~, inSer~ ~o be ~able aS
the ~t~iSy= of sai~ Oer$ifi=m~e, %o %e in n~er o~ (1), ~ ~1 ~a ~-
00F r A 0EA
CITY OF C0LUH~IA H~IGHTS
i .........
This ~S to certify ~hat the Ci~y of ~l,~bia Eeightm, in t~ Oo~t~ of
~, State of ~ezota', ~ ln~o~ S0 ~ f~. v~ reco~e~ hereby
~te ~eof ~til p~& at the r~te of Six per cen$ per ~ ~n
~d a~re~er of this certi~i~te;
. ~s cert~l~te for $~ ia ia~d ~
Eet~ts, M~eso~a' ~o provide fo~~ ~~ ~fie~ in ~ reven~s
a~ Ot~y, t~ ~celpts f~m t~ea ~ o~e~ so~ce~ ~vi~ from ~for~ee~
causes become ~ficient fe~ the O~~ e~enses of t~ Oity ~d
~a~t tO ~e O~ter ~f ~he said OiSy ~ the Oons$itu$ion ~d laws, of
S$~f Mi~e~ta t~r~to~ e~t~ ~ ~ f~l. Co~o~t~ t~re~
re~ired b~ the C~ter of~ ~i~ Oit~ ~d b~ the Oo~$itu~ion .~d laws of
S~e off ~nneso~a, to h~e~een ~a~' tO ~ve ~ppene& ~d to have
fo~, Prece~n~ ~0 ~ ~n ils~nC~?Of' ~a certifiers ~ve been
~ppened, ~d ~ve been pe~o~d in re~ ~d d~ fo~ ti~s ~d ~ner,
~d t~t t~s ~rtificate,~ ~agsShe~ ~w~h ~1 otheW in--breams of ~he
Oitm' outat~~ on the ~e[ h~O~[:~ not e~ee~ ~ constitutio~,
Sera, by its Oo~cil, ~s ca~e~ th~s C~t~fi~te ~ ~e ,e~utet in
~th the offici~ seal', ~d .~s ~uze~ t~$ certificate $o be ~e~
', Section 2. ~ ,~S certificate, ~1t ~,e .~cuted in ~e~~~
se~ed with the official ~eal of~'Z~ Oi~y ~d t~ f~l f~ c~it
zo~ces of zald Oit~ $~t ~, ~d.~e~,eb~ ~e irrevocaDl~le~e~ to ~the
~d f~l p~nt of ~oth principal ~d ?~terest of a~F~ificate when
become d~.
Sec~io n 3. That the C!$¥ Treasurer~ be ama she herel~ is authorize~
and directe& to sell sai~ certificate at not less than par value au~ accrue~
interest.
SeCtion 4. That this CounCil hereby ~aclares that am~ emergenc~ existe
for the pro~ iss~ce of ~ ~r~mcy DeD$ Cer$ifica~e o~
t~ receipts from t~es ~ other so--cea ~ve from ~crseen c~ez ~eco~
ins~fictent for t~ or~n~ e~e~ of the
Section 5. ~t this or~Ce ~ei~ necess~ for the
prese~ation of the ~I~c ~e, ~h ~ s~a$~ ia ~reBy ~cl~e~
be ~ ~r~y or~ce ~ ~I ~ effec~ !~a~e~ ~n its
Secretary/to the Council
RESOLUTION
per ~ ~a~le ~ ~e ~i~ of said certificate, ~ ~o~h p~i~l
~ interest to ~ecome ~ ~d ~a~ on the _ / ~ of ~lgS~
Colonel& E$ights, Mimuesot~, to invest m0~s in the Sinking ~ in maid
Emergency Debt Oer$ifica~e,
NOW' TEEEE~0RE BE IT RESO~V~D~ by the 0ity OouaciI of the 0ity of
Columbi~ Heights ~hat $-~0 ~ ," of the Sinking F~u~ ~e inyeste~, in
said~ Emergency Debt Oert£fica~e. ~n the M~turity of sai~ Oertificate,
the amount thereof and interest is to be refunded forthwith to She
~rther Resolved Sh~t the Oi~ ~reasurer be and she hereh~v is
tze~ ~d directed to ~e the ~cass~ inves.t~nt in ~cor~ce wi~
Resolution.
~cret~ to the Ooumcil
Roll Call - ~yes:
Nays: