HomeMy WebLinkAboutOrdinance 273ORDINANCE NO. 273
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF BONDS
SUBJECT TO THE REFERENDUM POV~RS OF THE PEOPLE
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
1. It is hereby found and determined that it is
necessary and expedient that the sum of $35,000 be borrowed for
the purpose of providing money for the maintenance of the
pe~rmanent improvement revolving fund of the city in order to
provide sufficient funds therein to pay for improvements for
~hich assessments will be levied.
2. It is hereby found and determined that it is
necessary and expedient that the sum of $25,000 be borrowed for
the purpose of providing money for new equipment consisting of
a fire truck for the fire department, and a traxcavator of general
city use.
3. It is hereby found and determined that it is
necessary and expedient that the sum of $25,000 be borrowed for
the purpose of providing money for an improvement of lasting
character consisting of the remodeling of the municipal liquor
store.
4. Bonds of the city shall be issued for the purpose
of borrowing money hereunder subject to the referendum powers of
the people. This ordinance shall take effect thirty days after
its passage and shall authorize such bonds and the execution of
a contract for the sale of said bonds.
5. The bonds to be issued hereunder shall be in t~o
or more series, shall bear such date, shall mature serially at such
times and in such amounts, shall be in such form and shall be
sold at such time and in such manner as the council shall here-
after by resolution determine.
Offered by: Spekulant
Seconded by: Trench
Roll Call - All ayes
First Reading Nov. 28, 1950.
Secretary to the Council
Signed
k(ayo r
)~OTICE OF BOND gALE
860~000 Public Improvement Bonds
and
~25~000 Fire Fighting Equipment
and Trsxcavator Equipment Bonds
City of Columbia Heights~ Minnesota
NOTICE is hereby given that the City Council of the
City of Columbia Heights~ Minnesota~ will meet at the city
office at 530 N.E. Mill Street in said city on Thursday~ the
29th day of March~ !951~ at 8:00 o'clock P.M.~ for the purpose
of receiving and considering sealed bi~s for the ~urchase of
~60~000 Yub!ic Improvement Bonds and ~2~000 Fire Fighting Equip-
ment and Traxcavator Equipment Bonds of said city dated April !~
!95t~ in the denomination of ~I~O00 each~ bearing interest as
desisnated by the ~urchsser~ paysbte February Ir !9~2 and semi-
annually theresfter~ ait of said bonds to mature on February 1st
as follows: the ~ub!ic Improvement Bonds in the amount of ~6~000
in the years 1953 to !962~ both inc!usive~ and .the Fire Fighting
E~uipment Bonds in the amount of ~2~000 in tBe years 1953 to
!9~7~ both inclusi~e~ and f3~O00 in the years 1958 to !962~ both
inc!usive~ all w~thout option of prior payment.
The bonds will be made payable at any suitable bank
designated by the purchaser. The city will furnish printed
bonds in form satisfactory to purchaser and approving legal
opinion of Messrs. Faegre & Benson~ 1260 Northwestern Bank
Buiiding~ Minneapolis~ Minnesota~ both without expense to the
purchaser. Delivery will be made at the biUder's c~.ty within
forty ~ays after date of sale accompanied by legal opinion and
customary closing pspers~ incluUing a certificate as to the
absence of litigation affecting said bonds.
Ail bids must be submitted ~n writing enclosed in a
sealed envelope, state one or more interest rates in multiples
of one-ruarter or one-tenth of one percent~ and left with the
undersigned ~rior to the t~me of said meeting~ accompanied by a
certified check~ cashier's cbeck or bank draft psyab!e to the
order of the city in the amount of et least ~2~000~ to be
forfeited as !i~uidated damages in event the bid is accepted
and the bidder fails to comply therewith. The bid will be
accepted w~ich shows the lowest net interest cost from date of
issue to maturity date of each bond l~ss ~he premium~ if any
offered. The council reserves the right to reject any or all
bids~ to waive any informality in any bid~ and to adjourn the
sale if deemed expedient.
Le ROY TRAFTO~
City Manager
Columbia Hei~hts~ Minnesota
Financial Information
The city is under a City Manager under a Home Rule
Charter _~dopted in 1921. The 1940 population w~s 6035 and the
preliminary 1950 census shows a population of 8208.
The assessed values for the years 1949 and 1950 were
follows:
19 5o
Real estate
personal property
F1,483,579.O0
277,776.00
$1,761,355.O0
g! , 552 , 670 .00
316,572.00
869,242.00
Net debt limit under Chapter 682, Laws of 1949
Net debt limit under Charter Section 72(b)
373,848.oo
186~924.oo
These bonds are issued to provide money for public
improvements and for fire and street equipment pursuant t~
Ordinance No. 273.
Presmnt indebtedness:
1~ Refunding Bonds
!-1/10~ Refunding Bonds
2~ Sewer Bonds
2~ Sewer B~nds
2~ P.I.R. ~und Bonds
2.7~ P.I.R. Fund Bonds
2.3~ P.I.R. Fund Bonds
20,000.00
22~000.O0
230,000°00
130,000.00
!20,O00.00
205,000.00
75,o0o.oo
Total debt after new issu~
~802 ,000 .00
The sewer bonds are payable primarily from special
assessments and together with the permanent improvement
revolving fund bonds are excepted from debt limits under both
statute and charter. Present net debt, ~42,000
Funds of the city:
F.i.R. Fund
General Fund
66,402.45
12,197.80
T~x levies snd collections during the pa sttflree years were as
follows:
Year Tax Levied Year
Tax Collected
1947 ~86,314.o0 1948 $68,278.30
1948 88,673.00 1949 86,377.65
1949 96~!76.00 1950 84,779.O5 to
io/3i/5o
~noka County debt, ~2,000
Independent School District No. 6~ in which the city is
located, has a bonded debt of approximste!y ~889~000.00
SChool District No. 32 has recently voted to become
a part of School District Ko. 65. This district brings within
district No. 65 the new ~2~000~000 Minnesota Linseed Oil and
Paint dompany and the Northern Pump and Northern Ordnance
Company~ Said d~strict is primarily industrial~ h~ving a high
valuation and a very small, number of students. Therefore the
tax base for school district No. 6[ has become greatly increased
wit} no increase in school operation cost as the children of
district No. 32 had been enrolled in the Columbia Heights
schools for several years~ thus the mill rate for sc?ool purposes
is expected to drop materially.
The following facts of interest ere taken from the
1950 annual report of the City Manager:
From a construction standpoint~ 1950 was highlighted
by completion of an extensive sanitary sewer expansion program
which was begun in !91+?~ and completion of sanitary sewer~
storm sewer and v~ater main contracts in the Hilltop Addition.
The final contract on the sewer expansion program
amounted to $182~!84.07 and was completed by 0rfei & Mariani.
Three contracts were completed in the Hilltop Addition~
providing sewer and water facilities for approximately 125 homes.
The basic contracts were as fo!lows~
Pheip~-Drake - Water Main Extensions
Lametti & Lsmetti - Sanitary and Storm
Sewers
0rfei & Mariani - Lift station
$7 ~b¥O .O0
32,063.68
23 ~blg. 50
8 62~923.i8
Another of the larger projects was the construction of
the storm drain in connection with the construction of the
addition to the high school. The total cost amounted to
~8~612.79 and was shared 40 percent by the school and 60 percent
by the city. This provided a drain from the middle of the
block on Jackson Street between ~!st and ~2nd~ to the Jackson
Street pond~ north of 43rd.
Another highlight in the year was the adoption by the
council of a "road oil" program for the improvement of city
streets in the future. For the time being~ it is not contemplated
to add any more of the tarvia streets~ but to stress the road
oil improvement program~ as more streets can be improved each
year for the amount of ~oney available. This is the type of
program now being carried cn by the City of Minneapo!is~ as well
as other cities in Minnesota.
After a street is brought to proper grade~ it is
grave!ed~ and treated with oil. Eech year~ or such years as
additional treatment is necessary~ additional road oil is applied~
after the street is again scarified, Under this program~ a
street can be put in good condition each year in spite of the
number of private house connections which may be made~ e!iminatiag
the patching which has been prevalent on the tarvia streets.
Columbia Heights' main business district has seen
additional improvements durin~ 1950. There was the addition
of the Trench's Variety Store~ remodeling of the theatre~ and
Columbia Heights State Bank; p!sns started for enlargement of
the Municipal Liquor Store; and renovation of the Postoffice
Building.
Before the close of the year~ petitions had been filed
for insts!!ation of a "White Way"on Central Avenue~ ss well ss
along Fortieth Street~ from Central to Jackson~ an~ from Sixth
to University~ and in front of the High School on List.
Another major improvement was the addition of a parking
lot on Central Avenue~ supplementing the lots owned by the city°
This land was purchased by the merchants~ and donated to the
city for, parking lot purposes2 together with a new alley from
bOth to 4!st~ east of Central.
From sn administrative standpoint~ 1950 saw the enlarge.
ment of the city's administrative staff~ to include both a city
manager and city engineer~ jobs which previously had been h~nd!ed
by one individual. The city council recognized that with the
rapid growth of the city~ one person could no longer handle both
jobs~ an~ the functions were divided between two individus!s.
Building of homes continues to be the chief item in
the building phase of Colt~mbia Heights construction program~ and
during 1950 permits were taken out for an adPitional I~.2 homes.
Of this total 6_20 were in the new Hilltop Addition~ and
b@lance were scattered tbroushout the city,
The total amount of building permits for the year
amounted to ~l,8?b~O??oO0 of which ~97b~900 accounts for the new
dwellings averaging ~6~800.O0 per dwelling.
A breakdown of building permits issued d~ring the past
three years is shown below:
year. N__q. Type, _0f Bui!din~
Cost Total Cost
4o
53
73
Dwellings (new)
Garages
Commercial and
industrial
Repairs & s!terations
Churches 8- Schools
$69b ~000.00
17~6~5.oo
56,8?5.oo
99,35o.oo
12}'+ ~OOO .OO
~991,85o.oo
1969
bb
¥¥
!0
6!
Dwellings (new)
Garages
Commercial & industrial
Repairs & alterations
26~+, 500.00
20 ~ 950,00
6¥ ~ 300, O0
51 ~ 4OO; OO
bOl ~ 150 · OO
1950
1}-+3
7¥
?
88
3
2¥
Dwellings (new}
Garages
Commercial & industrial
Repairs 8' alterations
Churches and schools
Renewals
97~, 9oo.o0
k3},7oo-oo
~ 000 o O0
132,237.00
682 ~2bo'oo
8742077.00
The city operates a municipal liquor store with a
net profit of ~,6~,949.9~ in !9~Oo ~
The water department was established as a separate
de~,artment in !9~0. The annual report shows water receipts
of'~,~8,240.76 and disbursements of ~6~647.~8~ with a net
bs!ance of a4~!4.i3 as of January !~ 19%1.
The above information is taken from statements of the
city officials and we assume no responsibility for its
accuracy.
FAEGRE & B-~NSON
1260 Northwestern Bank Bldg.
Minneapolis 27 Mirmesota