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HomeMy WebLinkAboutOrdinance 44An ordinance authorizing the issuance of ~l~O.©O Certificates of Indebtedness of the City of Colum- bia Heig~hts, Ninneeota, to provide the amount necessary ~o defray the expense incurred or to be incurred in constructing ~anitary sewers in Sewer Districts No.s. 4~]~ and C in said City. The City of Columbia Heights, Minnesota, does ordain: Section 1. That it is advisable, expedient and necessary at this time for the City of Columbia :~j~ts, Einnesota, to issue, and there ~e hereby authorized to be is~ued~ the negotiable coupon certlficates of $1Jb ,000. O0 indebtedness of said City in the amount of $~~, to defray in part the expense incurred or to be incurred in the m~,king of the following improvement) to-wit: the construction of s~_uitary sewers in Sewer Districts N'os. A, ~Land C in said City. Section ~. That said certificates shall be dated _~/~~~_ l, 19~?~ be in denomination of $1000 each, bear interest at the rate of five per cent per annum~ payable semi-annually on the First day~;f~/~ and ~ in each year, shall be ml~ ~n number, numbered from 1~o ~ both incl., both principal and interest being payable in gold coin of the United E~ate at the Nid!and National Bank a~ud Trust Company, in the City of Minueapotis~ Minnesota, and shall mature  s to Drincipal in the order of their numbers, lowest n~mbers firs% as ~ollows: COD. O0 -. /-X-..., ,< - ,.,. ! _ c,,e5 Section 8. That each of said cerZific~tes shall be in substantially the following form, with the necessary variations ~s to numbers an~ ma~ur~!es~ which sa!~ ~orm is hereby approve~ an~ ~iopted: Section 4. That the full faiths credit and resources of said City of Columbia Heights~ Hinuesota~ and of this City Council, as such~ be and the same are hereby ~rrevocably pledged for the prompt payment o! th~ principal and interest of said ce~ificates according to their terms and if the moneys received from the assessments levied for said improvement are insufficient to meet the principal and interest of any such certiftcates~ the Council shall provide moneys for such pay~uent Section B. That the Mayor and City Manager of this City be~ and they are hereby, authorized and directed to make ready and execute said certificates in substantially said form and the City Clerk to countersign the same and affix the seal of said City to each of said certificates~ and the Mayor and City Manager to sign the coupons thereof by the printed, lithogr~phed or engraved fac-simile of their signatures~ and that said certificates when so prepared and executed shall be placed in the custody of the Treasurer for delivery to the purchaser thereof mk~mxXkm or to the contractor, as the case may be~ pursuant to further direction of thim Council. Section 8. This ordinance shall take e~ect and be in force from and after thirty days after its passage. Passed by the Council ~Dri~ .2©th ~ 19~7. ~.~h~.' S oderholm. Mayor. Filed and recsrde~ this 20th dax of _~ .......... ~ 19~7. Secretary of tho Council. NO ~ 'qUI~I?-~-~ STATES O? ~A~ER!CA, STATE OP MI:t_~SOzA, COL~TY OF ANOKA, $t~000 CITY OF COL%q~IA HEiG~S~ CERTIFICATE OF iz~DEBTEDN~S. ENOW ALL M~ BY T~SE PR~SEI~_ That the City of Columbia Heights, Anoka County, Minnesota, CERTIPi~ that it is tndebted~ ~d~ for v~ue recei~, promises to pay to be~er ~e Thous~d Doi!~-s~ ($1:000), in gold coin of the United S~ates, on the First day with interest thereon from the date hereof until p~d~ at the per cent per ~, payable semi-~nual!y, on the First days of~~d  ye:m~ upon surrender of the ~r~exed interest in each presentation coupons as they severely become due~ both princip~ ~d interest being Payable at the Midl~d Natiou~ B~k ~d T~st Comp~y~ in the City of ~nueapolis~ ~nnesota. THIS CERTIFICATE OF INDEBTEDNESS is issued by said City of Columbia Heights for the purpose of defraying and is for an amom%t necezsary to defray in part the expense incurred or to be incurred in making the following improvement in said City, to-wit: the construction of sanitary sewers in Sewer Districts No$$ A~ and C in said City; and is issued by authority of and in strict accordance with the provisions of the Charter of said City and mf the laws of the State of Minnesota thereunto enabling. It is hereby O~RTiFiED and RECITED that all acts, conditions and things required by the Constitution and laws of the State of ~innesota, mhd the Charter of said City, to be performed, to happen and to exist precedent to and in the making of said improvement and ~n the issua~uce o~ this Certificate of Indebtedness, have been per~ormed~ have happened ~ud exist, in regular and due form, time and manner as required by law, and that the total indebtedness of said City, including ~his Certificate o~ Indebtedness, does not exceed any constitutional, statutory or charter 1Lmit. The full faith, credit and resources of said City of Columbia Heights, Minuesota, are hereby irrevocably pledged ~or the prompt payment of the principal and interest of this Certificate as ~hey respectively become due. IN W!T~SS WHEREOF, The Cizy of Columbia Heights~ Minnesota, by its City Council, has caused this Certificate of Indebtedness to be signed by the Mayor and City ~anager and countersigned by the City Clerk, with its corporate seal affixed hsseto, and has cammed the annexed inter,st coupons to be executed ~ith the fac-simile signatures of said Mayor and City  M anager, and this Certificate of Indebtednes~ to be dated the First day of J~ ~ 19~?. Mayo r. Countersigned: City ~smager Otty Oterk. On the First d y of January ~.~-~. ~ ~, i~n~ota, will p y to b ~r~ r ~w~nty-five ~ollars, (~2o.00) ~n ~old coin ~b t~e idl d }~ti .~:~1 Bank o~nd T~st uo~p~ny, L~inne~p~lic, ~innenota, ~mnnu~l inot~lll~.~o~t of interest due tk~t d~y on its C~rt~ific~te of In~..~.to~e~,~ ted July I~ ICL7, ~_~ .... ~ On the First day ~f July, The ~ity of ~olt~oi~ Hei~hto, inne~ot~, ~,'~.ll ~y to b~or~r Bank and Truct ........ ~ t~o annu~-i in~t~ll~, nt ,~f~ int.~r~,2t du~ tl%:~t d~y ~'~, itz ~rtlfi0. te of'Ind~bt~&ne~s,d~ted July