HomeMy WebLinkAboutOrdinance 150PREA!¥'~.~LE TO ~DINANCE No. 150.
~¥hereas it is necassary, pursuant to Section VV o£
Chapter 8 of the City Charter for this city, to issue its
Certificates of Indebtedness to defray the expense incurred
or to be incurred in making Local Improvement No. , and,
~ereas said section provides that the ordinance for the
issuance of such certificates may be passed and enacted as
an emergency ordinance, and,
V£nereas this council did on the 9th day of August 1938
pass an emergency ordinance providing for the issuance of said
Certificates of indebtedness, which said ordinance it is necessary
to amend according to the provisions of Ordinance No. 150:
This Council hereby and under this Preamble declares that
an emergency exists for the m~..~medm~te p~eservation of the public
peace, and safety, and that in order to promptly meat such emer-
gency it is necessary to pass Ordinance No. 150 as an emergency
ordinance.
Adopted by the $ounci! August ~3rd 1938.
ORDINANCE No. 150.
An ~rdinance to amend Section Th_tee of Ordinance No. 149
being an Ordinance Authorizing the Issuance of ~ertificates
of Indebtedness in the Amount of ~i4!00.00 to Defray the Expense
Incurred or to be !ncz~rred in_~'~,,akin'g Local Improvement
and Fixing the Term Thereof:
The City of Columbia Heig~hts does Ordain:
Section !. That Secticn Three (3) of Ordinance No. 149
be amended to read as follows:
Section 3. That said certificates shall be numbered, and in
denomination, s, and bearing maturim~g dates as follows:
No. 1 3100.00
No .2 500.00
No. 3. 500.00
No. 4. 800.00
N~. 5. 500.00
No. 6. 500.00
No. V. 500.00
No. 8. 500.00
No. 9·. 500.00
D~e September !, 1939
Due September 1, 1940
DuP. September !, 1940
Due September 1, 1941
Due September 1, 1941
Due September 1, 1942
D~e September !, 1942.
D~e September 1, 1943
Due Sebtember t, 1943
Section 2. That said section 3 of Ordinance 149 before its
amendment read as fo~.~s:
"Section 3 ~hat said ~ '~' _
· _ ce=tm~mcat~ sha~l be numbered
a~d in denominations, and bearing ~:aturing dates as fD!lows:
No. !~ ~t00.00
No. 2 ~ t~0.O0
No. 3~ 100.00
No. 4~ 100.00
No. 5 ~ t00.00
~o· 6 ~ 100.00
No. V ~ 100.00
No. 8~ 100.00
No. 9 100.00
No. 10~ 100.00
~o. i1/ !00.00
Due September !, 1940
Due September !, 1940
Due September t~ 1940
Due September 1, 1940
Due September 1, 1940
Due September 1, 1940
Due September 1, 1940
DueSeptember 1, 1940
Due September 1, 1940
Due September 1, 1940
Due September 1, 1940
No. 12w 500.00 Due September !, 1943
No. !3~/ 500.000 Due September 1, 1943
No. 14w/ 500.00 Due September!, 1943
No. 15w 500.00 Due September !, 1943
No. !6v 500.00 t~se September 1, 1943
No. iVF 500.00 Due September t, 1943
Section 3. That hhis 0rdi~moce shall take effect immediately
upon its passage·
~assed by the 0o~mbi! August ~3rd, 1938.
0r~inance offered by~~ .... S-ecr'etar~'~o '~'o' '~o~C~i
ALLI S0N-WI ~LIAMS O 0}&PANT
Northwestern Ba~ Building
Minneapolis, Minnesota
Hon. City Cou$cil
Columbia Heights, Minnesota
August 23, 1938
Nor the $~,100 par value, legally issued, general obligation Certificates of Indebted-
ness of your City, offered for sale on August ~3, 1938, to be' issued in the den°ru-
ination of $500. except one certificate in the denomination of $%00., dated SePtem-
ber 1, 1938, smd bearing interest at the rate of five percent (5%) per annum, interest
payable semi-annually on March 1 and September 1 in each year, both principal and
interest payable at the~ Northwestern National Bank & TrUSt Company, Minneapolis,
Minnesota, said certificates to become due and payable as followsi A~ set up in
your Ordinance $149 as amended by Ordinance ~150,
We will pay the par value thereof, plus accrued interest.
It is understood that you are to furnish the printed 0ertificate of Indebtedness forms;
that the properly executed Certificates of Indebtedness are to be delivered to us
accompanied by the approving legal opinion of ~unell, ~letcher, Dorsey, Barker & Colman,
Minneapolis, and that the cost of such legal opinion is to be borne by us. To cover
our costs in this connection you are to allow us $50.00.
It is ~urther understood that you are to furnish us, free of all expense and charges,
full and complete copies of all records, documents and proceedings properly' certified,
relating to the issue of said Certificates of Indebtedness and that you are to deliver
said Oertificates of Indebte~uess to us at Minneapolis free of delivery expense, on or
before September 15, 1938, or if later, 'at our option. YoU further agree to p~y such
service charge as the paying agent named herein may charge for handling of interest
couoons and principal pyaments of the above described Certificates of Indebtedness.
~his bid is made for immediate acceptance or rejection, and is submitted in duplicate,
one copy to be officially signed and forwarded t6~us at once if we are awarded the
Certificates.
~he above proposal is hereby accepted on behalf of the above ~amed'municipality by
the undersigned duly qualified officers. ~.
Dated Au~st 23, 19~8.
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