HomeMy WebLinkAboutOrdinance 579PREAMBLE
PREAMBLE TO ORDINANCE NO. 579. BEING AN ORDINANCE
ENTITLED "AN ORDINANCE AUTHORIZING THE SALE BY THE
CITY TREASURER OF $79,610.00 EMERGENCY DEBT CERTIFICATE."
WHEREAS, it became necessary to properly carry on the functions of
Municipal Government of the City of Columbia Heights, to proceed
with the public improvements; and
WHEREAS, there are insufficient monies in the Storm Sewer Fund of 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 preservation of the public safety and
that in order to promptly meed said emergency, it is necessary
to pass Ordinance No.579 as an emergency ordinance.
Passed this 25th day of May, 1964
Offered by}, King
Seconded by: Land
Roll Call - Ail Ayes.
Se~-retary t6 City Council
ORDINANCE NO. 579
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER OF:$79,610.00 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
May 27, 1964 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 November 27, 1964.
That said certificate shall be in substantially the
following form:
57?
NUMBER DOLLARS
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF COLUMBIA HEIGHTS
EMERGENCY CERTIFICATE OF INDEBTEDNESS
ThIS IS TO CERTIFY THAT THE CITY OF COLUMBIA HEIGHTS, in the County
of Anoka, State of Minnesota, for value received hereby promises to pay
bearer the sum of $79,610.00 at the Columbia H~ights State Bank, Columbia
Heights, Minnesota, upon surrender of this Certificate of indebtedness
on the rate of 4 per cent per annum, interest payable at maturity and for
the prompt payment of the principal and interest of this certificate the
full faith credit and resources of said city of Columbia Heights are hereby
irrevocably pledged.
IN WITNESS WHEREOF said City of Columbia Heights, Anoka County,
Minnesota,has caused this Certificate to be signed by its Mayor and
City Manager and couter signed by the City Clerk and sealed with the
seal of said City, and has caused th~i~ Certificate to be dated as of
CITY MANAGER
Attested:
City Clerk
It is hereby certified and recited that all acts, conditions, and
things 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 to and in issuance of this certificate
have ~e~n done, have happened and have been performed in regulation and
due form, time and manner and that this certificate together with all
other indebtedness of this City outstanding on the date hereof to not
exceed constitutional, statutory or charter limitation of indebtedness.
IN WITNESS WHEREOF, The City of Columbia Heights, State of Minnesota,
by its council has caused this certificate to be issued in its behalf by
its City Manager and Mayor and countersigned by the City Clerk and sealed
with the seal of said City, and has caused this Certificate to be dated
May 27, 1964.
Section II. That this certificate shall be executed in behalf of
said City by the Mayor 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 performance and full payment of both principal and interest
of said certificate when it becomes due.
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
passage.
Passed this 25th day of May, 1964.
Offered by: Land
Seconded by: King
Roll Call - Ail Ayes.
S~cretary to City Council
MAYOR