HomeMy WebLinkAboutOrdinance 422PREAMBLE
PREAMBLE TO ORDINANCE NO. 422 BEING AN
ORDINANCE ENTITLED "AN ORDINANCE AUTHORIZING
THE SALE BY THE CITY TREASURER OF ¢40,000.00
EMERGENCY DEBT CERTIFICATE."
WHEREAS, it became necessary to properly carry on the functions
of Municipal Government of the City o~ 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 ~rder to promptly meet said emergency it is
necessary to pass Ordinance No.422 as an emergency ordinance.
Passed this 10th day of November, 1958
Offered by: King
Seconded by: Julkowski
Roll Call - Ail Ayes.
se~cret~ary~to~ 1
ORDINANCE NO. 422
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER OF $40,000.00 ENERGENCY DEBT CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1. That the City of Columbia Heights, Minnesota
does hereby authorize the sale by the City Treasurer of Columbia
Heights, an Emergency Debt Certificate, to be dated Nov,
to bear interest at the rate of 4% per annum, interest to be pay-
able at the maturity of said certificate to be numbered one (t)
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 _ May 12th~.
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
DOLLAR~
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 $40,000.00 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 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
Attested:
City Manager
City Clerk
It is hereby certified and recided that all acts, conditions
and things required by the Charter of said City and by the Constitution
and Laws of the State of Minnesota, to have been done, to have happened
amd to have been performed precedent to and in issuance of this certifi-
cate have been done, have happened and have been performed in regulation
and due form, time and manner and that this certificate, together with
all other indebtednesses of this City outstanding on the date hereof to
not exceed any constifutional, 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 countersigned by the
City Clerk and sealed with the seal of said City, and has caused this
Certificate to be dated November 12%h 19~8
Section II/ That this certificate shall be executed in behalf ,Df
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 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 10th day of November, 1958
Offered by: Chies
Seconded by: King
Roll Call - All Ayes.
Secret~ry to City Council