HomeMy WebLinkAboutOrdinance 05 section 1. Under ~ ~~ ~o t~-~p~ov~ons o~ ~he c~te~ of t~ C~
Colchis HeiSts ~ ~er t~ laws of ~he State of Mi~eso~a, the Oit~'O~cil of
s~ Oit~ of Ool~t~ Eei~ts does here~ ~te~ine t~t it ts nece~s~· ~& ex-
pedient to const~t street~rov~ents of,a laati~ c~cter in ~ for
Section 2. ~t ~or the ~ose of raisi~ ~n~ for s~ i~ve~nts ~
~ ~~t ~ ~er provisions of Sectign~72 of O~pter 7 of the c~ter of the
0it~ of~ 0ol~bia Hei~tl ~ 'i% Is hera~ o~re~ ~ ~ete~ne~ ~t the a~d 0itF
~ Collie HeiSts iaa~ ~d ne~tiate i~s co~n ~onds in the ..~reg~te ~ of
~,~, a~ bonds'to be iesue~ to ~e ~'sl~te~ as ,street ~rove~nt ~on~s
to be ~te~ Feb~ ~t, [~ ~t~ (~ter~at '~cou~ns attache~, to ~aw interest
at the rate of 5 ~/~ per cent .per ~, ~a~le se~-~l~ on the 1st ~e of
A~t ~d ~eb~ of ea~ ~e~. '~ ~CiP~ thereof to be: p~able on the
~ot~ prineip~ ~ interest of sai~ Bom~a ~o be p~able in gol~ ~Coin of 'the UniSe~
States off the present st~ of weight ~'fineness at the First National~
in the Oity of Mi~e~oli~,
Section S. S~ bon~ s~l be~ si~ed ~ the ~or of sai~ 0ity, atteste~
the 0ity 01erk ~ eo~ter~i~e~ b~ the ~eas~er of the Oit~ of 0ol~bia ~eights
~ s~ll be sewed with the orificial seal ~of ~sai~ City ~ the interest
thereto attache~ s~lt be au~henticate~ ~ the f~simile ~i~at~ez of
office~s ~d when so execute~, s~ll be delivered ~o ~he Treas~er. ~ to be b~
said Treas~er ~elivere~ ~o the success~ ~chaser thereof ~n p~nt ~f the
~c~se price w~ch s~ll ~t Be less ~ p~ ~d 'acc~ interest.
Section ~. Sai~ Bo~s ~ coupons s~t be ~ subst~tially the following
NO. 5
UNITED STA~TES 0~ AMERIOA STATE OF~ ~Mi/~ESOTA
IMtiROVEMENT BOND
$! ,000. O0
Enow all men bF these presents that the ~tt¥ of 0olumbia: Heights, County of
Anok~, State of Minnesota, acknowledges itself indebted and for value received,
hereby promises to ps~v to the bea~er $1,000.00 om the 1st day of February, 19~
together with interest thereon at the rate of ~ ~/~ per ~, p~ble se~i-~lly
on the ls~ ~s of A~et ~ 2e~ of e~h ~e~, interest to ~t~ity to
represen~e~ b~ ~ropriate coupons ~tt~he~ hereto~ both prtncip~l ~ interest of
aai~ bon~e to be ~able in gol~ coin of t~ Unite~ States of the present ~t~
of wei~t ~ fineness at the 2irSt ~at~Onal ~n~ in the Olt~ of Mi~eapolis
Ml~esot~.
~ ~0~ is cae of a aeries o~ bonds of like ~te, ~t ~ tenor, ~1t
is~e~ for t~ ~ze of conet~ti~ ~treet ~reve~nt~ of ~ laeti~
in an~ for sai~ ~it~ ~ is iesue~ in ~~ce ~o Section ?~ of O~p~er 7 of
~ter Of sai~ Ott~ ~ ~s~t ~o ~ In ~1 co~li~ce with the laws of the
State of Mi~eaota thereto e~bli~.
~ ~S ~ O~!ED ~ ~OI~ t~t ~11 acts, conditions ~ thin~
~re~ b~ law to be ~ne ~ece~ent to ~ in t~ isle of this bon~, have been
p~per~ ~ne, ~ve been ~0~ in re~ ~ ~ ti~ form ~ ~er
prescribe~ b~ l~w ~ t~t the total in~ebte~ees of a~ ~it~ inclu~i~ t~s
~ others of its sertes~ ~ ~t excee~ ~ constitutional or statut°~ limitation.
~ ~ 2~, O~D~ ~ ~SO~O~s ~f the ~ity of Col-~bi~ HeiSts ~e hereby
i~revocab~ ple~e~ for t~ ~t~ P~nt of the principal ~ interest of
bon~ as the z~e
X~ ~SS ~0~ t~ Oity of OoI~bi~ ~eightz ~ C~e~ this ~on~ to be
si~e~ b~ its M~or, atteste~ by its Olerk ~ co~tersi~e~ by its ~re~s~er
t~e seal of sei~ City to be ~fixe~ hereto ~ the interest coupons hereto
to be authenticate~ by the f~csi~e sixties of sai~ officers ~ to be ~te~
Oountersigned:
Treasurer
On the ~et d~¥ of
Mayor
the City of Col~zmbia Heights, Anok~
Oount~, Minnesota, will p~y to the bearer in gold. coin at the First National Bank
Minneapolis, Mtnneeota, $ , tei~ the semi-~unna! interest then tu~ on
Street I~rov~nt ~on~ ~te~ a~ of tho l~t ~ of Fo~, 19~,
M~or
Attost~
~l~d 0~, M~neapoli~, Mi~esota~ to ~oha~e s~d bonds at a price of
~d ~ ~erest, maid bid bei~ ~he'bezt bid received and t~ a~e~ing to the
Ott~ Oo~oil ~$ i~ is $o t~ bezt interes~ of sai~ Oi~y to accept said bid ~d
the M~or ~d City O~erk be ~ ~he2 ~e hereby directed to enter into z proper
~e~nt with eat~ ~e B~lar~ 0o~ fo~ the sale of sai~ bcn~z.
Section 6. ~fs Ordi~ce 9~11 t~e eff~t ~ be in force 30 ~s ~ter its
pas s~e.
First re~ J~ 17, 1922.
M~vor
Seal
let Reading ~anu~ry l?th, 1922
Olerks
Bennett.
Ott¥ Clerk
A%teet:
Clerk
~, C. E. ~e~ett, be~ t~ ~ electe~~ ~ifte~ ~ actl~ Clerk of the Oity of
Ool~bia Het~s~ ~ C~ty, ~eScta~ ~ herebF certify that the foregoi~ is
a t~ ~ co~ect co~ of ~e procae~l~s of the Oity co.oil of the City of
Ool~ia Eei~te at thel~ ~ettng ~I~ on the 17th d~ of J~, 1922 in the
~tter of the isz~ce of their'~,~ Street I~rove~nt~.~on~s.
Xn ~tness whereof X ~re~to set ~ ~ ~ ~ftx the effficial seal of ~ orifice
t~s 17th ~ cf