HomeMy WebLinkAboutOrdinance 390ORDINANCE ENTITLED "AN ORdnANCE ~U~ORIZING THE
OF 100,000.99
EF~RGENCY DEBT CERTIFICATE".
k~EREAS, it became necessary to properly carry ion the functions of Municipal
'Government of the City of Columbia Heights to proceed with the public
. im.orovemen, ts ~; and,
2~TEREAS, there are insufficient mOneles in the city treasury to pay costs
currently due, and the city is 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 emer-
gency it is necessary to pass Ordinance No~ 390
Passed this 22nd day of July 195 7
...... as an emergency ordinance,
Offered by:
Julkowski
Seconded by: ...... Chios
Roll Call - Ayes: ..AlI
Nays: ..............
secretary to the Council
ORDINANCE
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER OF$1oo,.,,0oo.0Q' ,~EMERGENCY DF~BT
CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAINS:
Section 1. That the City of Columbia Heights, Minnesota does hereby authorize,
the sale by the City Treasurer o~_ $100,000.~.? .. emergency debt certificate, to
be dated~ J~ly 23r.d~ .t957 ~, to bear interest'At the rate of ~% per annum, inter-,
est to be payable at the maturity of said certificate, 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, Minnesota, and shall mature on or before
Sept. 20th , 19.57
That said certificate shall be in substantially the following form:
NUMBER
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF COLUMBIA HEIGHTS
DOLLARS
EMERGENCY CERTIFICATE OF INDEBTEDNESS
THIS IS TO CERTIFY THAT THE CITY OF COLUN~IA HEIGHTS, in the County of Anoka,
State of Minnesota, for value received hereby promises'to pay bearer the sum of
$ at the Columbia Heights, Minne-
sota, upon surrender of 'this Ce'rti~icate Of Ind~'btedness'~"'~n the rate of_ ~ per
cent per annum, interest payable at maturity and for the prompt payment of the princi-
pal and interest of thio Certificate the full faith, credit and resources of said
City of Columbia Heights are hereby irrevocably pledged.
IN WITNESS WHEREOF said City of Columbia Neights, Anoka County, Minnesota has
Caused this Certificate to be signed by its Mayor and City Manager and countersigned
by the City Clerk and sealed with the seal of said City, and has caused this Certi-
ficate to be dated as of the ................ , ~ ......... .
/ N~yo~~
Attested: _ . ...............
City Manager
~ity "dierk
It is hereby certified and recited that all acts, conditions and things re-
quired by the Charter of said City and by the Constitution 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, to-
gether with all other indebtednesses of this city outstanding on the date hereof to
not exceed any constitutional, statutory or charter limitation of indebtedness.
IN WITNESS WHEREOF the City of Columbia Heights, State of 2~tnnesota, by its
council has caused this certificate to be issued in its behalf by its City Manager
and Mayor and countersigned by the City Clerk and sealed with the seal of said city,
and has caused this Certificate to be dated__ July ~? ........ , 19...57..
Section II. That thiscertificate shall be executed in behalf of said City
by the Mayor and City Manager and countersigned 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 t~e immediate preservation
of public peace, health and safeby/~hereby declare~ to be an emergency ordinance and
shall take effect immediately upon its passage.
Passed this 22nd day of July 19...57
Offered by; Kin~ ................... .
Seconded by: Chies
Roll Calls
Ayes: A~i
Nays:
Secretary of the Council ....
ayor ~/ ' -