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