HomeMy WebLinkAboutOrdinance 575PREAMBLE
PREAMBLE TO ORDINANCE NO. 575, BEING AN ORDINANCE
ENTITLED "AN ORDINANCE AUTHORIZING THE SALE BY THE
CITY TREASURER OF 832,600.00 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 pa~k[imDrpvements; and
WHEREAS, there are insufficient monies in the Park Improvement
Fund to pay costs currently due, and the City is therefore without
funds to pay for land purchase payments now due;
THIS 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.5~5 as an emergency ordinance.
Passed this LOth day of February, 1964
Offered by:King
Seconded by: Land
Roll Call - Ail Ayes
S cretary to City CounCil
ORDINANCE NO. 575
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER 0F'$32,600.00 EMERGENCY DEBT CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section 1.
That the City of Columbia Heights, Minnesota, does
hereby a~thorize the sale by the City Treasurer of
Columbia Heights, an Emergency Debt Certificate,to
be d~ted February 10, 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 tl, 1964.
That said certificate shall be in substantially the
following form:
~UMBER
DOLLARS
UNITED STATES OF AMERICAIi~
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 832,600.00 at the Columbia Heights
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 sa
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 countersigned by the City Clerk and sealed with the
seal of said City, and has caused this Certificate to be dated as of
the 10th day of February, 1964.
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 been 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
any 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 February 10, 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 interJsst
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 10th day of February,
Offered by: Land
Seconded by: King
Roll Call: All Ayes.
Se~c~etary to City CounCil
1964
MAYOR