HomeMy WebLinkAboutOrdinance 595PREAMBLE
PREAMBLE TO ORDINANCE NO. 595, BEING AN ORDINANCE
ENTITLED "AN ORDINANCE AUTHORIZING THE SALE BY THE
CITY TREASURER OF 889,000 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 improvement; and
WHEREAS, there are insufficient monies in the Library Fund of
the City Treasury to pay for future construction costs, and to
entitle the City to Government benefits, such sum must be set
aside.
THIS CITY COUNCIL HEREBY, and under this Preamble declares an
emergency exists for the preservation of the public safety and
that in order to promp%~y meet said emergency, it is necessary
to pass Ordinance No.595, as an emergency ordinance.
Passed this 29th day of March, 1965
Offered by King
Seconded by Orendorff
Roll Call - Ail Ayes.
MAYOR
ORDINANCE NO. 595
AN ORDINANCE AUTHORIZING THE SALE BY THE CITY
TREASURER OF ~89,000.00 EMERGENCY DEBT CERTIFICATE.
THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN:
Section I.
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 29, 1965, to bear interest at the rate
of 6% per annum, interest to be payable at the maturity
of said certificate to be numbered one (t) 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 March 29, 1966.
That said certificate shall be in substantially the
following form:
NUMBER
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF COLUMBIA HEIGHTS
DOLLARS
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 889,000.00 at the Columbia ~Heights State Bank, Columbia
Heights, Minnesota, upon surrender of this Certificate of Indebtedness
on the rate of 6 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 counter-signed by the City Clerk and sealed with the
seal of said City, and has caused this certificate~to be dated as of
the 29th day of March, 1965. ~ ~ /~ ~ z/7~.~
CITY ~%NAGER
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 constitutional, statutory or charter limitation of indebtedness..
IN WITNES.~ 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
March 29, 1965.
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 29th day of March, 1965.
Offered by: Land
Seconded by: King
Roll Call: All Ayes.
Secretary to City Council
MAYOR