HomeMy WebLinkAboutOrdinance 332 PREAMBLE NO,
PREAMBLE TO ORDINANCE NO..... ~2 BEING AN
ORDINi~!CE Ft~TITLED "Mr ORDINANCE AUTItORIZING
THE SALE BY THE CITY TREASURER OF....$60,000.
EMERGF~!CY DEBT CERTIFICATE".
~fHEREAS, it became necessary to properl~y carry on the functions
of Municipal Govermnent of the City of Columbia Heights to proceed with
tho local improveme.n..ts ; and~
%~fEREAS, there are instm'ficient monies in the city treasury to pay
costs currently due, and the city is therefore without funds to pay for
contract payments now due;
TttIS CO~CIL hereby and under this preamble declares an emergency
exists for the preservation of the public safety and that in order to
promptly meet said emergency it is necessary to pass Ordin~nce Nee 332
as an emergency ordinance°
Passed this 14th day of December ., 1954o
Offered by: Hosnh
Seconded by: k~o]~
Roll Call: Ayes: ~]]
Nays:
Secretary to the Council
0miN c NOo
ORDinANCE AUT ORIZr S T -IZ SAZE
CITY TREASURER OF ~60,000. ~.'~RGENCY
DEBT CERTIFICATE.
TKE CITY OF COLb~'~fl~IA HEIGHTS DOES ORDAIN:
Section 1o That the City of Columbia Heights, Minnesota does
hereby authorize the sale by the City Treasurer of Coltzmbia tIeights
emergency d~bts certificate, to be dated De~ember 10th , t95~ , ,
to bear interest at the rate of 4[~ per annzzm, interest to be payable at
%he maturity of said certificate, to be nt~mbered one (!) and shall be
payable as to both principal and interest at the Col~'~bia Heights State
Bank in the City of Col%u~bia}~emghts,~ ' · Minnesota, and shall mature on or
before December 15th 19 55
That said certificate shall be in substan'tially the following form:
Mayor--.
NUMBER
D OLL~S
UNITED STATES OF ~MERICA
STATE OF MIh~[ESOTA
COmiTY OF ANOKA
CITY OF COLLegIA HEIGHTS
~,~ERG~WCY CERTIFICATE OF I~EBTEDNES$
TtIIS iS TO CERTIFY THAT THE CITY OF COL, IR,~!A HEIGHTS, in the County of
Anoka, State of Minnesota, for value received hereby promises to pay bearer the
sum of ~ at the Columbia
Heights~ Minnesota, upon surrender of this Certificate of indebtedness, on the
rate of per cent per annum, interest payable at maturity and for 'the
prompt pa~nent of the principal and interest of this Certificate the full faith~
credit and resources of said City of Col~mbia Heights are hereby irrevocably
pledged o
IN WITNESS WHEREOF said City of Columbia Heights~ Anoka Coun~y~ Minnesota
has caused this Certificate to be signed by its Mayor and City Manager a d counter-
signed by the City Clerk and sealed with the seal of said City, and has caused this
Certificate to be dated as ~f the ~ 195~o
Attested:
City Manager
City Clerk
It is hereby certified and recited that all acts, conditions and things
required ~y the Charter of said City and by the Constitution and Laws of the State
of Minnesota, to ~ave 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 mar~aer ~d that this
certificate, together with all other indebtednesses of this city outstanding on the
date hereof to not exceed any constitutional, statutory or charter l~aitation of
indebtedness°
IN WITNESS ~IEREOF the City of Columbia Heights, State of Minnesota, biz
its council has caused this certificate to be issued in its behalf by its City Mmnager
and ~ayor and countersigned by the City Clerk and sealed with the seal of said
city, and has caused 'this Certificate to be dated .,!95~o
Section II. That this certificate shall be executed in behalf of said
City by the Mayor and City' Manager and countersigmed by the City Clerk and sealed with
the official seal of said City and the full faith, credit and resources of said
City shall be and hereby are irrevocably pledged to the performance and full pay-
ment of both principal and interest of said certificate when 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 14th day of December , 195,
Offered by: Ym~+,~o~
Seconded by: ~To~a~
Roll Call:
Ayes :, A11
Nays:
Secretary to the Council