HomeMy WebLinkAboutOrdinance 718PRE'AMBLE
PREAMBLE TO ORDINANCE #718, BEING AN
ORDINANCE ENTITLED "AN ORDINANCE
AUTHORIZING THE SALE BY THE CITY
TREASURER OF $170,OOO EMERGENCY DEBT
CERTIFICATE."
WHEREAS, it became necessary to properly ca~ry 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 City Treasury to pay
for pending construction, 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 promptly meet said emergency, it is necessary to
pass Ordinance #718, as an emergency ordinance.
Passed this 30th day of October, 196~.
Offered by: Land
Seconded by: King
Roll Call: All Ayes
the Council ~
Bruce G. Nawrocki , Mayor
ORDINANCE #718
AN ORDINANCE AUTHORIZING THE SALE BY THE
CITY TREASURER OF $1~,OO0 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 November 1, 1969, to bear interest at the
rate of ~o 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 l, 1970.
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, MINNESOTA
DOLLARS
EMERGENCY CERTIFICATE OF INDEBTEDNESS
THIS lS 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
$170,000.00 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 Mana§er 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 1st day of ~~ ~ ~~
' Malcolm O. Wat's~n,-City Manager
Attested: ~ /~
Arvin P. Theis,~'City C'lerk
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 cert'ificate
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 November 1, 1969.
Section 2.
That this certificate shall be executed in behalf of
said City by the Mayor and City Manager and counter-
'signed by the City Clerk and sealed with the official
seal of said City and the fult 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 3.
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 30th day of October, 1969.
Offered by: Jeska
Seconded by: Logacz
Roll Call: All Ayes
Sec/~tary to the Council
I~ruce G. NTawrocki, Mayor