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HomeMy WebLinkAboutOrdinance 162orainance and the same was read in. full: TO O D NANC ,Whereas, it lsneoessary, punsuant ~o Section 77 of Chapter 8 of the Ci~y Charter for this City to issue its Certificates of indebtedness, and Whereas, said section p~o~ides.~ tha~ ~he ordinance providing for the issuance of such eertif, icates may be passed and enacted aa an emergency ordinance, This ~ouncll hereby and under ~this preamble declares, that an emer- gency exists for the immediate preservation of the public peace and safety and that in order to p~omptly meet such emergency it is necess- ary to'pass Ordlnan~e No._./6~~ as an emergency ordinance. Adopted by the'Council June 27th, 1939. Mayor Filed and Rec~, rded with me this · ~Tth day of Jun~, 1989. seCretarY ~' the "~'66hCil ORDINANCE NO../~ ~.. An Ordinance authorizing the issuance of Certificates cf Indebtedness of the City of~O~lumbla Heights in the amount of $_~/$~D.~_ to defray the expenses In- curred or to be incurred~in making Local Improvements Nos. 42,~,:61, 62, 63, 64, 6~, 66, 67, 68, 69, 70 and 71 and fixing the form thereof. The City of Columbia Heights does ordain: Section 1. That this Council hereby ~inds and determines that there were heretofore duly and legally ordered to be made certain local improvements and tha~ said improvements ~nd the expenses incurred or to be incurred in the making ~hereof"are as follows: -1- Local Improvement No. 42 Local improvement No. 44 Local Improvemen~ No. 61 Local Improvement No. 62 Local Improvement No. 63 Local Improvemen~ No. 64 Local Improvement No~ 6§ Local ImproVement No-.. 66 Local Improvement No. 67 Local Improvement No. 68 Local Improvement No. '69 Local Improvement .No. 70 Local ImproVement No. ?! Bection 2. That in order ~o defray the expenses incurred or to be incurred in the making of said local improvements i~~ is necessary a~ this time to issue the City's 0ertificates of Indebtedness in the a- mount of $__ ~. zlZ0 ~D, (~....~' and this COuncil hereby determines to issue such certifica~'es in said amount. That said certificates shall' be d~ted Augus~ 1st, 1939, shall bear in~eres~ at a rate not exceeding . ~% per annum, payable semi-annuallY on ~he Pl~s~ days of February and August in each year, shall be payable as ~o'both principal and inter- ee~[.~ ~he 0ffiee of the City Treasurer in ~he City of Columbia~ Helghts~ Minnesota, shall be in the denomination of $ ~ shall be num- bered from 1 to ........ , both inclusive, and shall mature in the order of their numbers, lowes~ numbers first, serially on August let in each year, as follows ~ear 1941 1942 1943 1944 Section ~. That said Certlfi~ates of Indebtedness and the coupons thereto annexed shall be in substantially the following form, with the necessary variations as to numbers and maturities~ which said form is ' hereby aporoved and adopted: UNITED STATES OF AMERICA STATE OF ~NNESOTA COU~Y OF ANOEA CITY OF COLUMBIA HEIGMTS CERTIFICATE OF INDEBTEDNESS KNOW ALL MMN BY THESE PRESENTS, 1hat the City of Columbia Heights, Anoka County, Ninnesota, certifles ~hat it is indebtednand for value re- ceived hereby promises ~o pay ~o bearer ~he sum of ~ Dollars ($ ), on ~hs Fi~s~y of Au~st, 19 ~ ~-~ ~,' together wi~h interes~ ~hereon"f~om ~he ~e hereof ~il paid a~ '~h~ ~a~e of ........ ~. ..................... pep cen~ pe~ ann~, payable semi-a~ually on ~he First days of Febr~ry and ~gust In each yea~ in accordance with and upon pre- sensation and suspender of the a~taChed interest coupons as they ~everal- Iy become due. Both principal and In~eres~ of this Ce~tificate are pay- able at the Office of ~he City TPea~Su~e~ in the City of Columbia Heights, ~nnesota, in lawful money of ~e United $~a~es of America and to p~o- ~ vide moneys for the pmomp~ payment of such Pm~cipal and interest as the s~e become due the f~! faith, c~e~t and ~eso~ces of said City of Columbia Heights have been and a~e hereby i~evocably ple~ed. This Certificate of Indebtedness is issued by said City pm~suant to and in full conformity with the Constitution and laws of the Sta~e of Ninnesota and the provisions of the Charter of s~id City thereunto en- abling, and is issued for the purpose of defraying a part of the ex- penses incurred or to be incurred in the making of local improvements in said City, all as described and set forth by Ordinance No..~/g~ .of said City duly passed and enacted on the 27th day of June, 19~9. It is hereby OERTIFIED and RECITED that all aoSs, conditions and things reqired by the Constitution and laws of the State of Minne- sota and the Charter of said City to have been done, to have happened and $o have been performed precedent to and in the issuance of this Certifaca~e of Indebtedness have been done, have happened and have been performed in regular and due~form~ ~ime and manner as ~equlred by law, and ~hat this Certificate of~indebtedness, together with all other debts of said City outstanding:On the date hereof, does not exceed any constitutional, statutory or c~rter limitation of indeb~edness. In Testimony Whereof, the Ci~y~of Columbia Heights, Anoka County, Minnesota, by its 'Oouncil, has caused ~his Certificate of Indebtedness to be signed by its Mayor and City Manager and countersigned by i~s City Olerk and sealed wi~h ~he s~al cf~ said City and the interest cou- pons hereto attahhed to be executed and~authen~icated by the facsimile signatures of the Mayor and Oity Manager and has caused this Certificate of iIndebtedness to ~e dated ~S of the ~lrst day of August, l~Jg. Co un t er s l~ed: Ma~Or, . ,City of Columbia Heights, Minnesota (Porto oS Coupon) No On the First day of P~bruary (August(, 19 · , the 'CitY Of Columbia Heights, Anoka 0eunty, Minne~ot~w~ll paY "$0 be~r- er at ~he Office of the City Treas~er in the Ci~y of Columbia Heights, ~nnesota, the sum of ...... ...... :....... Dollars, being ~e seml-anna~ Installment of ln~e~eS~/~en due~on i~s Oer~tfiea'te of Indebtedness, dated Augus~ 1, 19~9~ No.~:~..~ ~ . SeCtion (4) T~t said Certificates of Indebtedness shall be signed by the ~yor and City ~na~er ~d countersigned by the 0ity Clerk ~d Seal'~ ed~wi~h the seal of said Ci~y and ~ha~ said interes~ coupons thereto~ a~tached sl~ll be executed ~d authenticated by the prinSed, lithograph- ed or engraved facaimlie sight, es ~of She ~yor ~d City ~ager. See~ion' (5) Tha~ t~ ~1 faith, credit and reso~ces of ~id Ci~y~ of Col~bia Helgh~s be and ~hey are hereby irrevocably pledged to pro- vide moneys for ~he proof paymen~ of the princip~ and in~eres~ of said certificates as such principal and in~eres~ respectively become due. Section (6) T~$ ~his Council will mee~ on the ~ ~day of ~ .., 19~9, a~ ~9 o'clock P, M,, at the City Hall in said City ~o r~ce~Ve and consider bids fo~ ~he sale of said Certificates. That the Oi~y Clerk be ~d she is hereby au~horlzed and d~ec~ed to give due notice of ~such sale by publis~i~ a no$1oe thereof once in each week for ~wo successive weeks In ~ ~ iumbia Heigh~s a legal newspaper publlshed~In ~h~Ci~y of~ Minnesota. Section (?)~ ~a~ ~ s Ordln~ee sh~l take effect ~immediately upon its passage. Passed by the Oo~c~ ~$7~h, 19~9. ~yor Filed and Recorded with me this ~7~h day of ~, 19~9~ ' ~ecre~a~y of ~he Council.