HomeMy WebLinkAboutOrdinance 371PREA~,.~LE
PHEA~BLE TO ORDI~A%~CE NO. 371 BEING ~
ORDI~AMCE E~4TITLED "AN ORDI~4ANCE AUT~{O~ZING
THE SALE BY ~E CITY TREASUEER OF $125~000
D~{ERGE~CY DEBT CERTIFICATE".
W~F~REAS, it became necessary to properly carry on the functions
of ~unicipal Government of the City of Columbia Heights to proceed with
the public improvements~ ...... ; and,
V~REAS, there are insufficient monies in the city treasury to pay
costs c~r~ently due, and the city ~s therefore without funds to pay for
contract payments now due;
THIS 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 No. 371
as an emergency ordinance.
Passed this 13th day of
Offered by: Mosch
Seconded by: Hol~ ...
Roll Call: Ayes: Ail ......
Nays:
Secretary to the Council
November , 1956.
~ May~r ~ '
ORDINANCE NO. 371
A~ ORDINANCE AUTHORIZING THE SALE BY TUE
CITY TREASURER OF ~$125;000~ P]ME~iGEMCY
DEBT CERTIFICATE,.
TNE CITY OF COLUMBIA MEIGMTS D~ES ORDAZN:
Section 1. That the City of Columbia Heights, Minnesota doss
hereby authorize the sale by the City Treasurer of Columbia Heights
emergency debts certificate, to be dated November !4th 1956
to bear interest at the rate ofx~per annum, interest to be payable at
t~ maturity of said certificate, to be numbered one (1), and shall be
payable as to both principal and interest at the Columbia MeiEhts State
Bank in the City of Columbia Heights, Ninnesota, and shall mature on or
before January 12th 1957
That said certificate shall be in substantially the following form:
NUMBER
DOLORS
UNITED STATED OF A~RICA
STATE OF MINNESOTA
C~UNTY OF ANOKA
CITY OF COLU~BIA HEIGHTS
EMERGENCY CERTIFICATE OF iNDEBTED~ESS
T~IS IS TO CERTIFY THAT THE CITY OF COLU~/BIA HEIGHTS, in the County of
Anoka, State of Minnesota, for value received hereby promises to pay bearer the
sum of $ at the Columbia
Heights-, ~inr~s'ot'~,'"upon surrend~r"~f-th{s Certificate o~~e--~ss, on 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.
1~ WITNESS WHEREOF said City of Columbia i%ights, Anoka County, ~innesota
has caused this Certificate to be signed by its Mayor and City Manager 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 .............. , 195 ·
Attested: City Manager
It is hereby certifY, ed and recited that all acts, conditions and thin~s re-
quired by the Charter of said City and by the Consitution and Laws of the Stat~ 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 ~nd manner and that this certificate,
together with all other indebtednesses of this city outstanding on the date hereof
to~ not exceed any constitutional, statutory or charter limitation of indebtedness.
IN WII~ESS %HEP~?~F the City of Columbia Heights, State of Minnesota, by
its council has caused this certificate to be issued in its behalf by its City ~anaEer
and Mayor and counter signed by the Gity Clerk and sealed with the seal of said
city, and has caused this Certificate to be dated . , 195 .
Section II. That this cer%ifica~%e shall be executed in behalf of said City
by the ~ayor and City Manager and C'~untersigned 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 payment 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 bo be an emergency ordinance
and shall take effect imm~ediately upon its passage.
Passed this 13th day of November 1956 .
Offered by~
Seconded by~
Roll Call!
Hosch
Julkowski
Aye s: Ail
Nays:
Secretary to the Council