HomeMy WebLinkAboutOrdinance 407PREAMBLE
PREAMBLE TO ORDINANCE NO. 407 BEING AN
ORDINANCE ENTITLED "AN ORDINANCE AUTHORIZING
THE SALE BY THE CITY TREASURER OF ~13~,000.00
EMERGENCY DEBT CERTIFICATE".
WHEREAS, it became necessary to property carry on the
functions of Municipal'Government, of the City of Columbia Heights
to proceed with' the public improvements; and,
WHEREAS, 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;
THIS COUNCIL hereby and under this preamble declares an
emergency exists for the preservation of the public safety
and that in order to proDptly meet said emergency it is
necessary to pass Ordinance No.407 as an emergency Ordinance.
Passed this 12th day of May, 1958
Offered by: Chics
Seconded by: King
Roll Call - All Ayes
Secretary to City Council
ORDENANCE NO. 407
AN ORDINANCE AUTHORIZING THE SA~E BY THE
CITY TREASURER OF $~130,000 EMERGENCY DEBT
CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1. That the City of Columbia Heights, Minneso'ha does
hereby authorize the salve by the City Treasurer of Columbia Heights
emergency debts certificate, to be dated M~ !3th . , 1958,
to bear interest at the rate of 4% per annum, interest 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 Au~usb 10th , 1958 ..
That said certificate shall be in substantially the
following form:
NUMBER
DO~L~S
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF COLUMBIA HEIGHTS
EMERGENCY CERTIFICATE OF INDEBTEDNESS
THIS IS TO CERTIFY THAT THE CITY OF COLUMBIA HEIGHTS, in the
County of Anoka, State of Minnesota, for value received hereby promises to
pay bearer the sum of $30,000.00 at the Ci%y Offices Columbia
Heights, Minnesota, upon surrender of this Certificate of indebtedness,
on the rate of per cent per annum, interest payable at matursty 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 WITNESS WHEREOF said City of Columbia Heights, 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 Certificate to be dated as of the
May 13th , 1958.
Attested:
City Manager
City Clerk
It is hereby certified and recited that all acts, conditions
and things required by the Charter of said City and by the Constitution and
haws 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 b~
been done, have happened and have been performed in regulation and due form,
time and manner and that this certificate, together with all other in-
debtednesses 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
Minnesota, by its council has caused this certificate to be issued in
its behalf by its City Manager and Mayor and counter signed by the City clar
Clerk and sealed with the seal of said City, and has caused this Certifi-
cate to be dated ~4a? 1~ . , 1958.
Section il. That this certificate 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 irrevoc~y
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 safet~ hereby declares to be
an emergency ordinance and shall take effect immediately upon its
passage.
Passed this 12th day of May, 1958
Offered by~--
Seconded by:
Roll Call -
King
Proft
All Ayes.
Secretary to City Council