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HomeMy WebLinkAboutOrdinance 179ORD WHEREAS, it is necessery pursuant to Section ?7, Chspter S of the City Charter of this City to issue its Certificate of Indebtedness; and, V3EEREAS, said section provides that the ordinance providing for the issusnce of such certific~tes may be p~.ssed snd enacted es an emergency ordinance: THIS COUI~CIL hereby end under this preamble declares an emergency exists for the immediate preservation of the public peace and safety and that in order to promptly meet such emergency it is necessery to pass Ordinance No. ./~ ~ as ~n emergency ordinance. Adopted by the council ~ ,~ /~. / ~'~' Q'~ Preamble offered by : ~ Roll Call: Nays: Louis W. Bassett Mayor Secretary to ~he Council. THE CITY OF COLD'gBIA HEIGHTS DOES ORDAIN: Section ~l. That this Council hereby finds .~nd determines th~.% there were heretofore duly End legally ordered to be m~e loc~~ i~orov~ merit ~o. 97 , to-wit: laying of ws. ter m~.in on 6th St. N. E. from 4~th Ave. to 8$rd Ave., ~nd that said improvement ~d the e~enses incited or to be inc~red in the ~king thereof are as follows: Local Imorovement ~o. 97 $~ ~,~. Section 2. That in order to defray in p~rt the e~enses incurred or to be incurred in the m~ing of S~id loc~ L~rovement, tt is nec- essary at this time to issue the City's Certificatesof Indebtedness in the ~regate ~o~t of $ ~O~.~ ~nd this Co~ctl hereby dete~ine~ to issue such certificete~in s~d ~o~t. ~at s~id certificatessh~l be dated the .~?~ d~y of Jz~nu~_ry, 19~, ~nd shall be~r interest at ~ rs~te not to exceed S% per aun~, pay,~.ble semi-~nu~ly o~ the. l,~dsys of J~y ~d J~u~ry in e'ch year, sh~ll be n-~bered one~ s~l ~ p,~ ~o_e as to both princip~ ~ interest at the City Office in the City of C~l- ~bia Heights, ~innesota, ~.nd shall be in t~ follo~ng denotation: Section 8. That ~eid Certificate of Indebtednes~ ~ the coupon~ thereto ~nezed sh~l be subst~tiaLly the following fo~, which fo~ is hereby ~pproved ~d adopted: ~I~ ST~ES OF ~RICA STAE OF NI~L~ESOTA C0~Y OF ~0~ CITY OF COLU~tA ~IG~S Ki',~OW ~.LL .~.[EN BY THESE P REoENTS, th~.t the City of Cotu_mbt~ Heights, Anoka Co~ty, 51innesota, certifies theft it is indebted _~d for ~alue received hereby promi~e~ to PSI to the be~er the sum of ~ O~ ~. Q .... Dollars, on the d~.y of togehter with interest thereon at the rate of ~.~ per cent per anr~un, payable semi-annually on the l~ d.sys of ~ and ~ in each year in accordence with and upon presentation and surrended of the attached interest coupons ss they severally become due. Both orincioal .,.and interest of this Certific~.te ~re p~yahle at the-~ Office ~ ity Treasury in the City of Columbia Hellcats, ~innesot~., in l~wful money of the United States of America and to provide moneys for the prompt pay- ment of such principal and interest as the seine become.due the full faith, credit and resources of s,eid City of Colu~mbia Heights have been ~nd are hereby irrevocs, bly pledged. Tkis Certificate of Indebtedness is issued by s~id City pursu~nt to and in full conformity with the Constitution sad laws of the Sts~te of Minnesota, and the provisions of the Cherter of said City thereunto ling, and is issued for the purpose of defrs~ying a part of the expense incurred or to be inCUrred in th~ mal~ing of local improvement in said City, all as described sad set forth in madding of Ordinance No.. of said City duly passed and enacted on the ~_ d~?y of /~~.--w 1942. It is hereby CERTIFIED and RECITED t~at all acts,~ conditions ~nd things required by the ConstitutiOn and laws of the S~s~te of Mi~mesots., and the Charter of said City to ha. ye been done, to h~ve hs~,pened ~nd to have been performed precedent to and in the issuslace of this certificate of Indebtedness ha. ye been done, h.~.ve happened, and have been performed in regular and due form, time ~-~nd manner as required by law, ~nd tha. t this Certificate of Indebtedness, together with all other debts of said City outstsnding on the date hereof, does not exceed any constitutions, l, statutory or charter limitations of indebted_ness. IN TE ST I~01Uf ~ ~,HEREOF, the City of Columbia Heig~ats, ~oka Co,runty, Minnesota., by its City 0ouncil, has caused this Certific:-~te of Indebted- ness to be signed by its M~syor and the City 51anager _and countersigned by its City Clerk, and sealed with the seal of ss. id City, s.nd the interest coupons hereto attached to be executed Bud snthenticated by the faesimili signatures of the Mayor and City Msns~er and has csused this Certificate of Indebtedness to 'be dated as of the !~.~-~dsy of Countersigned: City of Colttmbis Heights, Minnesota City Clerk City Msn~?~er (Form of Coupon) On this __ day of ..... , 19__, ~ne City of Columbia Hellcats, Auoka County, Mi.nnesota, will pay to bearer at the ~-~,~$a~.i. B=,~J~~ ~ompsny i ~a~ of ~innel~o_lis, Minnesota, the sum of Dollars, being the Semi-annual inst~llment of interest then due on its Certificate of Indebtedness, dated City Manager , 1942, NO. . . Mayor Section 5. ?n~t ssid Certificate~of Indebtedness shall be signed by the Mayor end City Manger and countersigned by the City Clerk ~nd and sealed with seal of said City ~nd that ss~d interest couu~ous thereto attached shall be executed and authenticated by the printed, lithogrsphed or engraved facsimile signatures of the Msyor ~_ud City Manager. Section 6- That the full faith, credit end resources of ssid City of Columbia Heights be end they are hereby irrevocably pledged to provide moneys for the prompt payment of the principal and interest of ssid cer- tificate as such principal and interest respectively become due, ~nd if the moneys received from assessments levied for such toc~ impro~ment are insufficient to meet the payment of princ!oal and interest of s~id Certificate of Indebtedness the Co'o_ucil shell provide the moneys for the pgyments of s~me, Section 74 The City council hereby finds that there i~ sufficient moneys in the Sinking Fond of the City of Columbia Heights to purchase the Certificate of Indebtednes~ herein authorized to be issued, ~nd the City Clerk is hereby; s.utnorized ~nd instructed to purchase the said Certificate on the date of their issuance ~ith moneys now in the Sinking Fund, ~d to place the proceeds r~ceived from the ~le of s~id Certificate in the __~~~nd. . ~ Section 8. This Ordinance shall t~ke effect ~ud be in force immediately after its passage. O~RED BY: ~~ SECOt~ED ~Y. ROLL C~: ~: ~ Msyor Secretary ~o the Co~uCi~