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HomeMy WebLinkAboutOrdinance 387SALE BY TiM Cr£Y T~EASURER OY ~ ~150~000'00 E~RG~G~ DEBT C'~IFtOATE"~ W ~HEHEAS, it became necessary to properly carry'on the functions of Municipal Gevernment of the City of Columbia Heights te proceed with the ....... ~ublic ~provements . $ W~REAS, there are i~sufficient ~neies in the city treasury to pay costs currently due, and the city is therefore without funds to pay fo~ contract payments THIS CODNGIL here~ and unde~ this p~eamhle declares an emsrgency exists for the preservation of the public safety and that in order to promptly meet said emer- gency it is necessary to pass Ordinance No. 387 as an emergency ordinance. Passed this ilth day of June O£rered by, .... Julkowski ..... .~ Seconded b~ ..... Hosch ........ Nays: Secretar~ to the Council CITY OF COLOMBIA HgIGHTS 1~ ORDAIN: Section l. That the City of Columbia Hei~ts~ }fl~nnesota does hereby authorize a.? ,o :oo the sale by the City Treasurer of ..... , .... . , ....... emergency debt certificate, to be dated .... June,, 12th,, 1957 ,,, ,,, ..... ~ t~ bear interest at the rats of /~ per arm~ intez~ est to be payable at the maturity ~f said certificats~ to be numbered one (1)~ and shall be pa~le as to both principal and interest at the ColumBi~ Heights State in the City of O~lu~bi~ Heights, Minnesotm, an~ shall mature on Or before:_ : : Sept. 10th 19 57 That said certificate shall be in st~stantially the following fo~m: NUMBER UNITED STATES OF A~ICA STATE OF MINNESOTA COUNTY OF ANOKA GITX OF GOLU~IA ~IGHTS DOLLARS ~2~CY CERTIFIOATE OF INDEBTEDNESS %~HIS IS TO CERTIFY THAT TH~ CIT~ OF COLUmbIA H.EIGHTS, in the County of ;rooks, State of Minnesota, for value received hereby promises to pay bearer the sum of ~ at t~le Columbia Heights, Minne- s6~a, Upon surrender of this ce~icate 'of Indebt~'S'S',' '~ the rate of_ .....~ ~pei~ cent per annum, interest payable at maturity and for the prompt paymen~ of the prin.:i- pal and interes~ of %hie Certificate the full faith, credit and resources of said City of Columbia Heights are hereby irrevocably pledged. IN WITNESS WH~F said City of Columbia ~eights, Anoka 0ounty, Minnesota h~s caused this Oertificate *.o be sig~ed by its Mayor and City Fmnager and countersigned by the City Clerk and sealed with the seal o£ said City, and has caused this Certi- ficate %o be dated as of the -: : ................... , 19 . Mayor Attested: ~ City Manager It is hereby certified and recited that all acts, conditions and things quired by the Charter of said City and by the Constitution and La~s of the State of Minnesota, to have been done, to have happened and to have been performed precedent to and in issuance of this certifica~e have been done, have happened and have been performed in regulation and due form, time and manner and that this certificate, gether with all other indebteduesses of this city outstanding on the date hereof to not exceed any constitutional, statutory or charter limitation of indebtedness, IN WIT~ESS WtlE~EOF the City of Columbia Heights, State of Minnesota, by its council has caused this certificate to be issued in its beb~_~ by its City Manager and Mayor and counte~igned by the City Clerk and sealed with the seal of said city~, and has caused this Cer~ificate to be da~ed~ ~ - June :~2~th ........... , 1~ _57: . Section II, That this certificate sha~! be executed in behalf of said City t~; the ~Myor and City Manager and countersigned By the City Clerk and sealed with the official seal o~ 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 prin~ipal and interest of said certificate when it becomes due. Section III. This Or~c~ Being necessary for the immediate preservation of publie peace, health and safeby heroby declares to be an eme~Eency ordinance shall take effect immediately upon its p~ssage, Paseed thi~ llth da~ of June Offered by: Hosch Seconded by~ ....... ~ ~ ~u~,~on ........... Ro~ Ca~ Secretary of the Council , , , 19_57..