HomeMy WebLinkAboutOrdinance 421 ORDINANCE NO. 421
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF
~150,000 of BONDS FOR THE ERECTION OF A
MUNICIPAL BUILDING.
THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1. It is necessary and expedient for the City of
Columbia Heights to borrow the sum of 8150,000
by issuing and selling its negotiable coupon general obligation
bonds in that amount and using the proceeds thereof to erect a
Municipal Building to house the Police and Fire Departments, and
such other departments as may be deemed advisable, and, subject to the
referendum powers of the people, said bonds shall be issued, sold,
and delivered as soon as may be after this ordinance takes effect,
such bonds to bear date of issue, date of serial maturities and
be in such form and detail as shall be prescribed by resolution
of the city council, and shall bear interest at the lowest rate
or average rate obtainable upon a public sale thereof.
Section 2. Said bonds shall be the general obligation of
the City and secured by a pledge of the full
faith and credit and unlimited taxing powers of the City.
Section 3.
This ordinance shall take effect and be in force
from and after thirty (30) days after its passage.'
Re-adoption:
First Reading January 26, 1959
Second Reading February 9, 1959
Offered by:
Seconded by:
Roll Call -
Proft
Chies
Ail Ayes.
Secretary to City Council
ORDINANCE NO. 421
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF
8150,000 OF BONDS FOR THE ERECTION OF A
MUNICIPAL BUILDING.
THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1. It is necessary and expedient for the City of
columbia heights to borrow the sum of $150,000 by issuing and
selling its negotiable coupon general obligation bonds in that
amount and using the proceeds thereof to erect a Municipal Building
to house the Police and Fire Departments, and such other departments
as may be deemed advisable, and, subject to the referendum powers
of the people, said bonds shall be issued, sold, and delivered as
soon as may be after this ordinance takes effect, such bonds to
bear date of issue, date of serial maturities and be in such form
and detail as shall be prescribed by resolution of the city
council, and shall bear interest at the lowest rate or average rate
obtainable upon a public sale thereof.
Section 2. Said bonds shall be the general obligation of
the City and secured by a pledge of the full faith and credit and
unlimited taxing powers of the City.
Section 3. This ordinance shall take effect and be in
force from and after thirty (30) days after its passage.
First reading November 10, 1958
Second reading November 24, 1958
Offered by:
Seconded by:
Roll Call -
Chies
Proft
Ail Ayes.