HomeMy WebLinkAboutOrdinance 446PREAMBLE TO ORDINANCE NO._ .446 .... BEINO AN
ORDINANCE h~TITLED "AN ORDINANCE AUTHORIZING THE
SALE BY T~'~ CITY TREASURES OF $&O,~O00.O0
EMERGEt~CY DEBT CERTIFICATE".
WHE~AS, it became necessary to properly carry'on the functions of Municipal
Government of the City of Columbia Heights to proceed with the. Munici. p~l Bu$1ding.
__ const~uc~i, on ,, L$ and,
WHEREAS, 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... 446 :. ~ as an emergency ordinance.
Passed this 27th day of April , 1~ 9~ .
Offered bye._ Ki~ g ........
Seconded by:_ Pro£~ ......
Rell Call- Ayes: a~
Nays: ...........
Secretary to the Council
ORDINANCE NO. 44.__~6
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASU~ OF $40,.000.00 ~Z~GENOY D:~BT
CERTIFICATE.
T~IE CITY OF COLUMBIA HEIGHTS DOES ORDA~2~:
Section 1. That the City of Columbia Heights, Minnesota does hereby authorize
the sale by the City Treasurer of~ $40.O00,O0 ............ _emergency deb~ cer~tficate, to
be dated... April 29th, 1~59 ~, to bear interest at the rate of ~% per annum, inter-
est to be payable a% the maturity of said certificate, to be numbered one (1), and
shall be payable as to both principal and interest at the Colm~bia Heights State Bank
in the City of Columbia Heights, ~nnesota, and shall mature on or before~ June 22nd.
......... , 1~ 59 .
That said certificate shall be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
OIT~ OF COLUMBIA HEIC~ITS
DOLLARS
EMERGENCY CERTIFICATE OF INDEBTEDNESS
THIS IS TO CERTIFY THAT THE CITY OF COLU~IA HEIGHTS, in the County of /moka,
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~i~ca~'e ~f 'Indebtedness, on the rate of~r
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 Oolumbia Heights are hereby irrevocably"pledged.
IN WITNESS WHEREOF said City of Columbia Neights, Anoka County, Minnesota has
caused this Certificate t~ 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-
Attested:
City ~ager
City Clerk
It is hereby certified and recited that all acts, conditions and things re-
quired by the Char~er 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 cer~ificate have been done, have happened and have been
performed in regulation and due form, time and manner and that this certificate, t,-
gerber with all other indebtednesses of this city outstanding on the date hereof to
not exceed any constitutional, statutory or charter limitation of indebtedness.
I~ WITNESS WI~EOF the City of Columbia Heights, State of 2~innesota, by its
council has caused this certificate to be isAued 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 .Apri~ 29t. h ..... . _, 19.~.
Section II. That this certificate shall be executed in behalf of said City
by the ~yor 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
~/~.~11 take effec~ immediately upon i~s paesageo
../'Passed ~hi, ... 27t,h. ~ day of_ ~ _ April~ .. , 19 59 .
Offered by~ Chies
Se°°raled By: King
an emergency ordinance and,
Ayes: ~ all
Nays
Secretary of the Couneil