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HomeMy WebLinkAboutOrdinance 197 PREA/~[BLE TO 0R~i}JA~{CE t~0. 197 '~?HEREAS, it is necesss, ry pursu~nt to Section 77 of Chanter 8 of the City Charter for this City to issue its Certificates of Indebtedness, and ~'~HEREAS, said section provides theft the ordinance providing for the issuance of such certificates may be passed and enacted s~s an emergency ordinance. This Council hereby s~ad under this pre~mble declares that an emergency exists for the irznedtate preservation of the public peace and ss£ety and tt~t in order to oromptly meet such emergency it is necessary to cass Ordinance }~o. 197 as an emergency ordinance. Adopted by the Cotu~cil Preamble offered bM Jackson Preamble seconded b~ Spekulant Roll Call: Ayes: All ~ays: None July 25th , 19~t4. An Ordinance authorizing the issuance of Certificates of Indebtedness of the City of Columbia Heights in the a,motuut of $._ ~'$'" to defray the expenses incurred or to be incurred"~iz{ ,making Local Improvements l~7os. 108, 109, ll0, lll, ll2,, ll3, ll4, ll5 and ll6 ~.nd fixing the fonm thereof. , THE CITY OF COL~,~IA HEIGHTS DOES ORDAIN: Section 1. That this Council hereby finds and determines ths. t there were heretofore duly and legally ordered to be made certain local improvements and that said improvements and the expenses incurred or to be incurred in the maiming thereof are as follows: Local Improvement No. 108 Local Improvement No. 109 Local I~no. rovement No. ll0 Local Improvement No. lll Local I:~Qrovement No. ll2 Local Improvement No. Local In~rovement No. Local Improvement No. ll5 Local Improvement No. ll8 lowest numbers first, serially on Year 19~5 19&8 September 1st in each year, as follows: Amount $3000.00 , $3ooo.oo _ Ssooo.oo Section 2. That in order to defray the e~enses incurred or to be incurred in the making of said local improvements it is necessary at this time' to issue the City's Certificates of Indebtedness in the amount of $.9000.00 and this Council hereby determines to issue such certificates in said amount. That said certificates shall be dated September 1st , 1944, shall bear interest at a. rate not exceeding ~ per ann~n, payable semi-annually on the first days of ~arch and September in each year, shall be pays.ble as to both principal and interest at the ' · .......... -.' F~, l~innesota, shall be in the denomination of $ 500.00 , shall be nu~nbered from I to 18 _, both inclusive, and shall ma. ture in the orSer of their numbers, Section 3. That said Certificates of Indebtedness sad the couoo.ns thereto annexed shall be in substantially the following form, with the necessary variations as to numbers and maturities, which said form is hereby a'ooroved and adopted: UI'TITED STATES OF ~,~RICA STATE OF I~II~SOTA COU~TY OF ANOEA ' CITY OF COL~,~3IA k~IGHTS CERTIFICATE OF IZ~EBTED~SS X~TO~¥ ALL ~,~EN BY THESE PRESEMTS, that the City of Columbia Heights, ~uoka County, ~,~innesota, certifies thst it is indebted and for value received hereby oromises to pay to bearer the sum of Dollars ($. .), on the first day of , 19 , together with interest tl~ereon from the date hereof until oaid at the rate of per cent oer annum, payable semi-annually on the first days of and in each year in accordance with and uoon. ~resenta- tion and surrender of the attached interest couoons as they severally become due. Both principal and interest of this Certificate are osyable at the First l~ational Bank. of ~,{inneapolis, 5~innesota, in lawful money of the United States of America and to provide moneys for the oro~mpt payment of such orincipal and interest as the sa~me become due the full faith, credit s~d resources of said City of Colu~nbia Heights have been and are hereby irrevocably pledged. This Certificate of Indebtedness is issued by said City oursuant to and in full conformity with the Constitution and laws of the' State of ~,~[innesota and the orovisions of the Charter of said City thereunto enabling, and is issued for the ~ouroose of de- fraying a cart of the expenses incurred or to be incurred in the n~/~ing of local improvements in said City, all as described and set forth by Ordinance t~Yo. of said City duly ~assed and enacted on the day of , 19 It is hereby GERTIFIED AND RECITED that all acts, conditions and things reouired by the Constitution and laws of the State of Minnesota and the C]m. rter of said C~ty to have been done, to have happened and to have been performed orecedent to and in the issuance of this Certificate of Indebtedness have been done, have haooened and have been performed in regular and due form, time and manner as reouired by law, and that this Certificate of Indebtedness, together with all other debts of said City outstand- ing on the date hereof, does not exceed any consitutional, statutory or charter limitation of indebtedness. In Testimony ~hereof, the City of Col~mbia Heights, Anol~ County, l~innesota, by its Council, has caused this Certificate of Indebtedness to be signed by its Mayor snd City Manager and countersigned by its City Clerk and sealed with the seal of said City and the interest couoons hereto attached to be executed and authenticated by the facsimile signatures of the I~ayor and City Eanager and has caused this Certificate of Indebtedness to be dated as of the first day of , 19 . Countersigned: ~ayor City of Columbia Heights, ~ginnesota City Clerk (Form of 0ouoon) City ~anager On the first day of ( ), 1~ , the City of Col~mbia Heights, Ano]~ County, ~linnesota, will pay t° bearer at the First National Ba~ of ~!inneapolis, the s~ of Dollars, being the semi-annual installment of inter- est then due on its Certificate of Indebtedness, dated , t9~, ~o. City l~anager ~ayor Section 4. T-hat said Certificates of Indebtedness shall be signed by the Mayor and City ~anager ~d countersigned by the City Clerk and sealed with the sea~ of said City and that said interest coupons thereto attached shall be executed and authenti- cated by the printed, lithographed or engraved facsimile signatures of the Mayor and City Nanager. , Section 5. Tt~t the full faith, credit and resources of said City of Columbia Heights be and they are hereby irrevocably pledged to provide moneys for the prompt payment of the principal and interest of said certificates as such principal and interest respectively become due. Section 8. That this Council will meet on the 22nd day of .August , 1944, at eight o~clock P. ~. at the City Hall in said City to receive and consider bids for the sale of said Certificates. That the City Manager be and he is hereby authorized and directed to give due notice of such sale by publishing a notice thereof once in · each week for two successive weeks in Col~mbia Heights Record , a legal newspaper published in the City of Columbia H&ights, ~innesota. Section 7. That this Ordinance shall tat~e effect i~nediately upon its passage. Passed by the Council Offered bz l~!ygaard Seconded bym Bentzen Roll Call: Ayes: All I~ays: None Secretary to the C~cil July 25th , 19 44 . Mayor