HomeMy WebLinkAboutOrdinance 446 (2)PREAMBLE
PREAMBLE TO ORDINANCE NO. 44~ 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 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 promptly meet said emergency it is necessary to pass Ordinance
No.44%~ as an emergency ordinance.
Passed this 27th day of April, 1959
Offered by: King
Seconded by: Proft
Roll Call - Ail Ayes.
S scOt'eta r/~y t o~Ci~
ORDINANCE NO. 44~
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER OF 840,000.00 EMERGENCY DEBT CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Sectiin 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
April 29, 1959, 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 June 24, 1959.
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 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 C~l~.~~B~nkColumbia Heights~
Minnesota, upon surrender of this Certificate of indebtedness on the
rate of ~ per cent per annum, interest payable at maturity and for ~e
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 ~ ~95~
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
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, together with all.
other indebtedness 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 countersigned by the City Clerk and sealed
with the seal of said City, and has caused this Certificate to be dated
April 29, 1959.
Section II. 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 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 27th day of April, 1959
Offered by: Chies ~
Seconded by: King
Roll Call - All Ayes.
Secretary to City Council