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HomeMy WebLinkAboutOrdinance 198 Being an Ordinance entitled ~'An Ordinance Authorizing the Sale by the City Treasurer of $1,000.00 Emergency Debt Certificate." WHEREAS, It has become necessary to install certain storm drains in the City of Col~nbia Heights; and, WHEREAS, In order to ~reserve the public health and ss~ety, it is necessary to make such installations immediately; and, 'gHEREAS, There are not at the oresent time sufficient monies on hand to pay for said storm drains; THIS COUI~CIL, hereby and under this preamble declares that a public emergency exists which subjects the city to the necessity of making an extraordinary expenditure, and that in order to oromptly meet such emergency it is necessary to pass Ordinance No. 198 as an emergency ordinance. Passed this ~Sth Offered by Nygaard Seconded bz Soekul~at Roll Call: Ayes: All Nays: ~one Seo~et~.ry to ~ he/CpT3_ucil ~ay of July, 1944. Mayo r Section 1. .That the City Council of the City of Colu~nbia Heights, W. innesota, does hereby suthorize the sale by the City Treasurer of $1,0©0.00 Emergency Debt Certificate, to be dated the /-~ day of .~ ~ , 19~, to be in n~ber ~ (/), ~d s~ll be p~able at the City Office of the City of Col~bia Heights, ~innesota, and s~ll ~t~e on the /~ day of Th~the said Certificate shall be'substantially as following form: ~,~ITED STATES 0F ~,~RICA STATE OF ~I~SOTA C0~TY OF ~0~ CITY OF COL~,~I~ ~IGHTS /o ~is is to certify that the City of Cot~bia Heights, in the Co~ty of ~ot~, State of }~innesota, is indebted to ~d for value receive~ hereby ~romises to ~ay to the bearer hereof on the-/~ ~ d~ of ~ . , 19~the s~u of $.. /~'~ at the City Office of the City of Col~bta Heights, Ninnesota, upon the ~resentation ~d surrender of this certificate. This certificate for $1,000.00 is issued by ssid City of Col~mbia Heights, Winnesota, to provide for a oublic emergency which has subjected the City to extraordinanary e~endit~e which the f~uds of the City are ins~fidient to meet, and is issued p~s~nt to the Charter of said City and the Constitution and la,~vs of the State of Winnesota, there~to e~bling and in full conformity therewith in accordance with the orovisions of Ordinance ~o It is hereby Cert~ied ~d Recited that all acts, conditions and things reeuired by the Charter of said City and by the Constitution and laws of the State of ~innesota, to ~ve been done, to ~d ~ppened and to have been oerformed, pre- cedent to ~ud in Iss~nce of this Certificate have been ~,ne, have haopened~ and have been oerformed in regular and due form, times and ~nner, and that tl~is Certificate, together with all other indebtedness of said City outstanding on the date hereof, does not exceed a~ constitutional, statutory or c?~rter limitation of indebt e~ess. In ~gitness whereof, ssid City of Col~mbia Heights, Anoka Co~ty, State of ~innesota, by its Council, has caused this Certificate to be executed in its behalf by the l,:ayor and City Manager, and countersigned by the City Clerk, and sealed with l~-~ day the official seal, and has caused this Certificate to be dated as of the Section 2. That this Certificate shall be executed in behalf of ssid City, by the Mayor and City ~anager, and countersigned by the City Clerk, and sealed with the official seal of said City ~ud the full faith, credit and resources of said City shsll be and hereby are irrevocably oledged to the prompt and full payment of said Certificate when it becomes due. Section S. That the City Treasurer be and she hereby is authorized and directed to sell said Certificate to the Sinking Fund, Section ~. That this Council hereby declares that sm emergency exists for the promot issuance of said ~nergency Debt Certificate due to an extraordinary expenditure, n~aely: the installation of certain storm drains in the City of Columbia Heights; and that the funds of the City ordinarily available for such an expenditure are insufficient to in~ediately meet the same. Section .5, That this ordir~nce being necesssry by reason of the public emergency described in the preamble herein, is hereby declared to be an emergency ordinance and shall tske effect i~mediately upon its oassage. Passed this 25thday. of Jul~ , 1944. Offered by: Jackson Nygaard Seconded by: Roll Call: Ayes: All Nays: None SeCretary to th~C~nc~l I,,Iay o r