HomeMy WebLinkAboutOrdinance 516PREAMBLE
PREAMBLE TO ORDINANCE NO. 516, BEING AN
ORDINANCE ENTITLED "AN ORDINANCE AUTHORIZING
THE SALE BY THE CITY TREASURER OF $16~,000
EMERGENCY DEBT CERTIFICATE."
WHEREAS, it became necessary to properly carry ~n the functions
of Municipal Government of the City of Columbia Heights, to pro-
ceed with the public improvements; an~
WHEREAS, There are insufficient monies in the City Treasury to
pay costs currently due, and the City is therefore without funds
to pay for contract payments now due;
THIS CITY COUNCIL HEREBY and under this Preamble declares an
emergency exists for the p=~rvation of the public safety and
that in order to promptly meet said emergency, it is necessary to ps, ss
Ordinance No.516 as an emergency ordinance.
Passed this 13th day of March, 1961
Offered by: King
Seconded by: McCline
Roll Call - Ail Ayes.
M~YOR ~ /f
ORDINANCE N0.516
AN ORDINANCE AUTHORIZING THE SALE BY THE
CITY TREASURER OF $165,000 EMERGENCY DEBT
CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1. That the City of Columbia Heights, Minnesota does
hereby authorize the sale by the City Treasurer of
Columbia Heights, an Emergency Debt Certificate, to be dated
March 15, 1961 to bear interest at the rate of 4% per annum,
interest to be payable at the maturity of said certificate to
be numbered one (1) and shall be payable as to both principal
and interest at the Columbia Heights State Bank in the City
of Columbia Heights, Minnesota, and shall mature on or before
September 15, 1961.
That said certificate shall be in substantially
the following form: