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HomeMy WebLinkAboutOrdinance 221~EEA~BLE TO ORDINANCE. NO ~_~. ~REAS, It is necessary pursuant to Section 77 Chatper $ of the Charter of this City to issue its Certificate of IndebAe~lnsms~ and, WH~REA~, mai~ section provides that the ordin~ce providing for the ce ~ THIS COUNCIL hereby and under this .~reamble declares an emergency exists for the imme~iate preservation cf the public peace and safety and Preamble Offered Preamble Secon&ed Roll that in order to promptly meet such emergency it is necessary to pass ~rdi- nauce No. _-~'~[ sm ~ emer~ncy ordinance. ~opted ~y the Oo~cil Nygaar~ , Aye~ All Nays~- dd~, AN ORDINA~OF~ AUTHORIZ~G T~ ISSUANCE O~ 0ER~IFICA~S OP II~F~DNESS OF ~ 0ITY OF ,COL~I,~% [5~IGETS IN ~E ~0'~ OF 2 2.000..00 E E SES OR TO BE ZNOUR~D ~ ~{4XI;~{G LOOAL I~OVE~NT8 NO3. 14~: 1 ~: 155, 156 and 157 .... TEE C'IT¥ OF COLLR[BIA HEIGHTS DOF, S O}iDAIt~I S~ectton.!. That thI~ Council hereby finds and determines that there were heretofore duly ~.nd legally ordered to be made certain local im~rovement~, a~':d that ~aid improvements ,~nd the expenses incurred or to be incurred in the making thereof 9re as f~llowsl Local Imorovement 7~o. Section 2~. That in order to defray in part the expenses incurred or to be incurred in the making of s~id local imorovement~ it is necessary at this time to issue the City's Certificate of Indebtedness in the ~gregate amount of $ ,~'2,000 and this Council hereby determines to'i~sue such certificates in seid amount. That said certtficate~ shall be dated the I ~. day of = .~.mb.~ 19~, and~ahall be~r interest at a rate not tO exceed ~ % ~r annum, payable semi-ann~ually o~the first day~ of ~ ,~arch ,,, ~. and .... ~ep.temb~[, .... in each year, shsll be .~ , Ctty~ Office be p~yable a~ to both principal ~d ~ntere~t ~ the ~~~ a~ ,~ the City of ~Uet~i~$~~,, ~-~. ~].l be in ~he follo,~ing denominations, 1 ~4~ 000:'~, ~= $~:000. OD , 3_ $4; OO~: O0 8 .......... , 9 . 10 . ..: , 11 and shall mature in the order of their number~, lowest number first as Section 3. That of s.Tid certificates ~he following ,~mounts shell be applicable to each of the several local improvements! Loca~ Improvement No. Amount Local Improvemen~ No. ~mount. /~/7~ ..... $ ~~ .... $ ,,~ Sec~i.on 4. That said ~ertific~tes of Indebtedne~ and the coupons thereto annexed shall be substantially the~ following form with the necessary variations as to mumbers and maturities, which sa~d form is hereby approved and adopted: UNITED STATES OF A~RICA STATE OF~ MIN~ESOTA C'OU~T¥ OF ANOKA CIT70~ COLU~{BIA R~IGHTS CERTIVICATE OF I~DEBTEDESS Ki~O~' ALL ~N BY THESE PRESENTS, that the City of Columbia Heights, Anoka County, Minnesota, certifies %ha~ tt is in.bred ~d for v~e rec- eived here~y promise~ to p~ to %he bearer the s~ of ~O00~OO/~ ~ ~ ~ Doll.s on the d~ of' , , 19 to th~ with interest ~eF~n at the r~te of ~ ~:~r ce~% pe~ ~n~, n~able ~emi-~nu~ly on the ~*~ d~ys of ~a~ch ~ ~ ~d -~september in e~ch 'ear in accordance with and upon presentation ~d surre~ger of ~he a~tached interest coupon~ a~ they aever,l ly become ~ ~h pri~p~ and interest of this Certificate are p~able at the · '- , ~~ the City of ~~ Minnesota, in 1~ money of th~ United States of ~riea ~d %o pr~i~e moneys for ~he proof p~y~nt of such prin~ipal ~d interest as the se~e b~ some due the f~l faith, credit ~d reso~ces of said City of Cot~bia Meights have been and ~e hereby irrevocably pled~d. This Certificate of Indebtedness is issued by said City oursuant to ~nd in full conformity with the Constitution ~nd laws of the State of ~iunesota and the provi~ions of the ~arter of said City there~to enabling, ~d is issued for the ourpose of defr~ing a p~ of ~he expense tn~rred or %o be in~rre~ in the m~ing of loc~ improvements in said City, ~11 as described ~d se~ forth in Ordin.~nce No. of std City d~y pg~sed ~nd enacted on the ~%~dzy of It is here~y OERTI~IgD and REOI~D that ~11 acts, condit[on~ ~d thin~ required by the Cons~Ytution ~d laws of the State of Minnesota ~d the ~arter of z~d City to have been do~, to have hap~ned ~d to have been perfo~ed pre- cedent to and in the lssu~ce~of this ~er~i~icate of Indebtedness have been done, have hap~ned ~ have been perfo~ed in ro~lar ~d d~ form, time and m~ner as re~ired by law, ~d that this Certificate off Indebtedness, to.thor with ~1 other debts of ~dJ,Ci~F outstanding on, the ~ate hereof, does not exceed ~y .~$onstttution~, statutory Or charter limitation~ of indebtedness. In Testimony ~ereof, the City of Colum%ia Heights, Anokm County, Minnesota, by its Oity Council, ha~ Caused this Certificate of Indebtedness to be ~igned by it~ ~or ~d ~he~Oity Man.er ~d co~ter~i~ed by f~m City Ol~k ~d sealed with the ~e~ of sai~ City ~d ~e interemt cou~ns hereto attached to be executed ~d au~hen~ic~ed by the fac~imile sigue, tures of the N~or ~d City Mem~r and hes c~used this Oertific~te of Indebtedne~sto be da~ed ~ of the _ d~ of .... ~ ...... 194~. M~or Oountersi~ed~ O~t~ of Ool~bia ~etgh~$, ~tnnesot~ Form of Coupon) City M au'ager Mayor. ~ That said Certificate of Indebtedness shall be signed by the MaYor 'and C~ty Manager and countersigned by the City Clerk and sealed with the se~ of ~d City ~d,that s~d integer coupons thereto att~hed sh~l be executed ~d au~hentic~ted'bY the p~inte~, ltthog~aphe~ or engraved facsimile ei~atU~e of the M~or ~d Oily S=eeti:on~.~ ~t ~he ~11 faith, credit ~d resources of zat~ O,lt~[of,C°l~iA ~i~ts be ~a the~ ~e.here~,i~.evoc~bl~ ple~gea to ' p~vA~e ~ne2~ for ~he promp~ p~a~ of ~he ~ncip~ end f~ereet o~ s~i~ cer~iflc~ez,~e suoh,,princip~ ~ 't~'eres~ respectively become ~ue~ ~he ~aeys ~ceive~ from a~es~ea~e, levle~ for e~ch loc~ tmp,rovemem~a', ~e ins~fici'ent to ~et the. pa~ent of Pri~cip~ ~d'intere~t of ~ata ~e~tlftcatee of Indebtednes~ the Oo~cil sh~l provide the ~neys for the p~nt of ~~ ~e Oity Council hereby fin~ that there i~ s~ficient ~ee in the 3t~ing ~ cf the City of Ool~bi~ HeiSts to p~chaee the Oertific~.tea of IndeBtednea$ he~In~aUtho~'lzed ~ ~ issue~, ~d the Ole~ is he.by ~thortze~ ~d [net~cte& ~o purchase ~he said Oertificatee cn the date Cf their ia~e ~h'mo~e'~s now tn the Sf~fn~ ~,, ~ pla~ the pr~cee~ receive~f~m~he/'$~e,°f~s~id' Certificates in the ~ ection $.,~z ~ai,n~Ce,~f~'~l t~e effec$ and be in torte OFF2RED 3¥! Nygaard SEOO~DED ~TI Trench ROLL OA~.~ Ail Ayes