HomeMy WebLinkAboutOrdinance 307PREA~$LE
PHEAI~BLE TO ORDINANCE NO. 307 BEING
ORDINANCE ENTITLED "AN ORDINANCE AUT.WORIZING
THE SAI~ BY T~YE CITY TREASURER OF $t0,000.
E~t~3ENCY DEBT CERTIFICATE".
· ~$IEREAo, it became necessary to properly car~y on the functions of ~{uni-
cipal Government of the City of Columbia Heights to proceed ~ith the Permanent
Improvements
; and,
V.~TEREAS, there are insufficient monies in the city treasury to pay costs
currently due~ and the city is therefore without funds to pay for contract payments
now due;
T~[IS COUNCIL hereby and under this preamble declares an emergency exists
for the preservation of the public safety and that in order to promptly meet
said emergency it is necessary to pass Ordinance NOo_3OT.~_as an emergency ordinance.
Passed this 23rd day of Decem~r 19~ 2
, ·
Offered by: Deeble
Seconded by: Spe kutant
Roll Call: Ayes: All
Nays: None
S cretary ~o ~be CoUnc~'i ~
ORDInaNCE NO. 307
AN ORDINANCE AUTHORIZ~[G THE SALE BY THE
CITY TREASURER OF $10,000.O0 E~ERGE[~y
DEBT CERTIFICATE.
TI~ CITY OF COLUI~BIA HEIGHTS DOES ORDAIN:
Section 1~ That the City of Columbia Heights, l~innesota does hereby-author-
ize the sale by the City Treasurer of ~10,000.00 emergency debts certifi-
cate, to be dated December 2hth ,!912, to bear interest at the rate of 3% per
annum, interest to be payable at the maturity of said c '~'
ertmimcate~ to be numbered
one (1), and shall be payable as to both principal and interest at the Columbia
Heights State Bank in the City of Columbia Heights, l~innesota, and shall mature
December 2~th , 19~ 3.
That said certificate shall be in substantially the following form:
DOLLARS
UNITED STATED OF A~RICA
STATE OF }fIN~SOTA
COI~TY OF ANOKA
CITY OF COLII~BIA ~TE!GHTS
E~ERGENCY CERTIFICATE OF I~EBTEDNESS
~{IS IS TO CERTIFY THAT T~ CITY OF COLUI~BIA HEIGHTS, in the County of
Anoka, State of l~innesota, for value received hereby promises to pay bearer the
sum of $ at the Columbia
Heights, ~?innesota, upon surrender' of this' Certificate of' indebtedness, on the
, with interest thereon from date hereof until paid at the
rate of per cent per annum, interest payable at maturity and for the
prompt payment of the principal and interest of this Certificate the full faith,
credit and resources of said City of Columbia Heights are hereby irrevocably
pledged°
IN VgTNESS ll~REOF said City of Columbia Heights, Anoka County, 1,~innesota
has caused this Certificate to be signed by its l~ayor and City ~{anager and counter-.
signed by the City Clerk and sealed with the seal of said City, and has caused this
Certificate to be dated as of the , 19~ o
Attested: City l~anager
City Clerk
It is hereby certified and recited that all acts, conditions and things re-
quired by the Charter of said City and by the Consitution and Laws of the state of
Minnesota, to have been done, to have happened and to have been performed precedent
to and in issuance of this certificate have been done, have happened and have been
performed in regulation and due form, time and manner and that this certificate,
together with all other indebtednesses of this city outstanding on the date hereof
do not exceed any constitutional, statutory or charter limitation of indebtedness°
IN WIT~SS %~ME~OF the City of Columbia Heights, State of l~innesota, by its
council has caused this certificate to be issued in its behalf by its~ City ~anager
and l~ayor and counter signed by the City Clerk and sealed with the seal of said
city, and has caused this Certificate to be dated December 2~th ~, 19~2 o
Section II o That this certificate shall be executed in behalf of sai8 City
by the Mayor and City l~anager and countersigned by the City Clerk a~d sealed with
the official seal of said City an~ the full faith, credit and resources of said City
shall be and hereby are irrevocably pledged to the performance and full payment of
both principal and interest of said certificate ¥~hen it becomes due°
Section III. This Ordinance being necessary for the immediate preservation
of public peace, health and safety hereby declares to be an emergency ordinance
and shall take effect immediately upon its passage°
Passed this 23 day of
Offered by: HoLm
Seconded by: Lange
Roll Call:
Ayes: All
December , !9~ 3o
Nays: None
Secretary to 'the Council
Na~6r - ~ ~