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HomeMy WebLinkAboutOrdinance 256ORDINAYTCE I~O. A~ O?~DINANCE AUT~ORIZING THE SAI~E BY THE CITY TREASURER OF ~10;000.00 E~'iERGE!~CY DEBTS CERTIFICATE. ~EI~H~ DOES ©RDAIN: Tt~.E CIT;£ O~~ COLU.~¥~BIA ~ o. ~ Section 1. That the City of co!um~.~ia Heishts, _~[innesota does hereby aut.b.:orize the sale by the City Treasurer of Columbia Heights emergengy interest at the rate of ~ per annum, interest to be payable at the maturity of said certificate, to be number One (!), and shall be payable as to both principal and interest at the Columbia Heights State Bank in the City of Columbia Heights, ~.~iinnesota and shall mature on the day of That said Certificate shall be in substantially the following form. DOLLARS L~ITED STATES OF AMeRIcA ~:STATE OF MIN~ESOTA COUNTY O? A~OF~ CIT~Z' 0~' COLU.~,IBIA ~_~EIGHTS EIv[ERGENCY CERTIF.ICATE OF INDEBTEDNESS TI-lIS !S TO CERTIP¥ THA'iP Ti~E CITY OF COLU}'~BIA HE.[GHTS, in the County of l~noka, State of }f, innesota, for value received hereby promises to pay beare~ t?~e sum of ~i! at the Certificate of Indebtedness, on the , with from date hereof until paid at the ra--~ interest payable at maturity and for the prUmp--ff paym--~i~n~--~f-~ ~ti-g' principal and interest of t~is Certificate the full faith, credit and resources of said City of Columbia Ileishts are h~reby irrevocably pledged. PREAMBLE ORDINANCE ENTITLED, "A¥-URDINANCE AUTHORIZING THE SALE BY THE CITY TREASURER OF ~10,000.00 EMERGENCY DEBT CERTIFICATE. ',.W_-iEREAS, receipts from taxes and the sale of 'bonds have been insuZ'ficient to pay for improvements heretofore contracted and ~-iEREAS, t?'~ere are insufficient moneys on ha'ad to make payment for such work completed and therefore the general permenent improvement installation program, is jeopardized. T.~_~REF0~, the City Counail of the City of NOW ~ ~ Columbia Heights hereby and under this p~eambla de- clares t~at a puol_c emergency exists which subjects the C~ty to the necessit} of providing immediate f~.mds for the general ?~servation of 'the public peace, hea!ti~, and safety, and ~hs passage of Ordinance number as an emergency ordinance. Offered by Secoaded ~' Roll Call Passed this 6th day o[ September, 19~9. ~~~ th' ~d. ~a£el, Secretly ~ e Council IN WITNESS ~JEREOF said City of Columbia Heights, Anoka County, ~,~innesota has caused this certificate to be signed by its ~ayor and City ~.anager and countersigned by the City Clerk and sealed with the seal of said City, and hs.,a caused this Certificate to be dated as of the , 19 City ~ianager Attested: C'ity Olerk IT is hereby certified and recited that all acts, conditions and t?~ings required by the Charter of said City and by the Constitution and Laws of the State of Minnesota, to have been done, to have happened and to have been performed precedent toand in issuance of this certificate have been done, t~ave happened and ~ave been performed in regulation and due form, time and manner and that this certificate, together with all other indebtednesses of this city outstanding on the date hereof do not exceed any constitutional, statutory or charter limitation of indebtedness. IN WITNESS ~EPJ~0F the City of Columbia Heights, StaOe of Minnesota, by its council, has caused this certificate to be issued in its behalf by its City ~,~anager and Mayor and countersigned b y the City Clerk and Sealed with the seal of said city, and has caused this Certificate to be dated ~ o Section II. That this certificate shall be executed in behalf of said City be the ~gayor and City Manager and countersigned by the City Clerk and sealed with the official seal of said City and the full faith, credit and resources of said City shall be and hereby are .irrevocably pledged to the per.~:ormance and full payment of both principal and interest of said certificate when it becomes ~ueo Section III. This Ordinance being necessary for the immediate preservation of public peace, health and safety hereby declares to be an emergency ordinance and shall take effect immediately upon its passa6e. Passed this 6t~ day of S~%1949. Offered b:: Seconded by: Roll call: Trench yencho A~ es All Nayes None Se~t~-~~e~e Council