HomeMy Public PortalAbout1173-1938 - Authorizing to take further steps to procured its Construction Fund for the Public Auditoriumv-
ORDINANCE -- in re PUBLIC AUDITORIUM.
MMIS, following compliance with all former required
statutory procedure in matter of determination of the
Common Council of City of Richmond, Indiana, to provide and
construct a public auditorium in said City for the use of
the population thereof, said Common Council did appropriate
therefor the sum of Two Hundred Thirty Thousand Nine Hundred
Nine Dollars ($230,909), the same being the proceeds of
grant-in-aid of the United States of America, through the
Federal emergency Administration of public Works of 403,909,
the same available when, as and if the City of Richmond,
Indiana, should first have provided itself 127,000; and
following notice to taxpayers of said City, and hearing there-
on, said Common Council did confirm its previous determination
to appropriate and expend such additional amount, and did file
a certified copy of such determination (in duplicate) with the
Auditor of Wayne County, Indiana, the City of Richmond being
wholly within said County, and said Auditor did immediately
certify a copy of such determination with such other informa-
tion as might be necessary to present the questions involved
to the State Board of Tax Commissioners of State of Indiana,
reference to which is made as though incorporated herein in
full; and said State Board of Tax Commissioners after hearing
held August 23, 1938, at office of County Auditor of Wayne
County, Indiana, at court house in City of Richmond, Indiana,
did on August 2C 1938, make and enter its order in affirming
the amount of such additional appropriation, and of issuance
of bonds of City of Richmond, Indiana, the same bonds in sum
of $127,000; and which order is and reads as follows:
STATE OF INDIANA 1_�- OFFICE OF THE STATE BOARD OF TAX
C OMMISSI ONERS •
In the matter of additional )
appropriations for the City of ) No. 375
Richmond, Wayne County, Indiana. )
A petition having been filed by the proper legal officials
of the City of Richmond, Wayne County, Indiana, in the
matter of,additional appropriations in the sum of $230,909.00;'
and;
This matter having been set for -hearing on August 25th, at
11:00 A.M., report.'having been made and all.the facts having
been carefully considered, this Board does now approve the
bond issue and affirm the appropriation thereof in the total
sum- of $230, 909.00 .
It is provided, however, that the proper officials are direct-
ed -to advertise and receive ,bids for the cost of constructing
a public auditorium, and to make a.tabulation of the bids so
received and report same to this board together with a copy
of the BoardIs action showing to whom it is proposed to award
the contract prior to letting of contract. It is likewise
provided that accompanying -the tabulation of bids there shall
'be an estimate of all incidental expenses, including any pur-
chase of land, legal, examination of transcript, engineering
and supervision, equipment and advertising costs to be paid
in connection with construction costs.
STATE BOARD OF TAX COMMISSIONERS OF
IND IANA .
PHILIP ZOERCHER, Chairman
Attest:
S E C R E T A R Y
N
STATE OF INDIANA
OFFICE OF THE. STATE BOAID
OF TAX COMMISSIONERS
I, C . A. Ketchum, . Secretary of the State,.Board of Tax
Commissioners, do hereby certify that the above and foregoing
is a full, true and complete copy of the order as made by
this Hoard in the above entitled matter on this the 25th, day
of August, 1938..
Witness my hand anft the seal of .this Board' on this the 25th
day of August, 1938.
(Seal) C. A. Ketchum
SECRETARY
AND WHEREAS, the. Common Council of the City of Richmond,
Indiana, is now duly authorized to take further, steps to
procure its contribution to "Construction -Fund" for said
Public Auditorium in co-operation with and by assistance of
said Federal Emergency Administration of Public Works of the
United States of America,
NOW THEREFORE, BE. IT ORDAINED BY THE COIMMON COUNCIL OF THE
CITY OF RI aMOND , IND IANA , that
(1) This . Commo' n Council now acknowledges receipt of order of
the State Board of Tax Commissioners of State of Indiana, in -
copy thereof appearing in the .preamble hereof, and orders on
part of itself and said City, complete compliance therewith,
and final appropriation of the sum of money authorized therein.
(2) This' Common Council now further aryl finally ratifies and
confirms . all things heretofore done for' and in behalf of the
City of Richmond, Indiana, in the matter of determination to
provide and: construct a public auditorium in said City -for the
use of the population thereof.; and orders by the adoption of
this Ordinance the taking of further steps in issuance, sale
and.negotiation of bonds of the City of Richmond, Indiana, in
principal aggregate of 127,000. to provide such'sum as the
amount to be expended by said City and to be deposited to
enable the City to receive._grant-in-aid of $103,909. from the
United States of America.
(3) This Common Council of the City of Richmond , Indiana, said
City being a city of the third class as defined by law in
classification of cities of State of Indiana, having power by
statutory provision, on passage of an ordinance for that pur-
pose, as herewith, to make permanent loans of money to an,
amount, including all other loans and indebtedness, not exceed-
ing two percent of the taxable property of.said City determined
by the last assessment for state and county purposes, and
having likewise the power to issue bonds for the purpose of
refunding such loans, the same loans made -for purpose of pro
curing money to -be used in the legitimate powers of such city,
as is in.the instant case -of providing for public building,
auditorium, etc., now adopts this Ordinance, and enters upon
its record this Ordinance to. issue, sell -and negotiate the
bonds of the City of Richmond, Indiana, in aggregate principal
of One Hundred Twenty-seven Thousand Dollars ($127,000); and
the same for purposes aforesaid, and of terms and tenor of bonds
as hereinafter'set out, and" of date and maturity and rate of
interest as hereinafter set out, and after'time and character
of notice and mode of making -sale as hereinafter set out, the
same to be, sold as.an entirety issue, and for the proceeds
thereof.as to principal for deposit as hereinafter set out,
and for the proceeds thereof as to any premium paid therefor
for use as hereinafter set out.
(4) The City Controller of the City of Richmond, Indiana,
shall manage and supervise the preparation, advertisement,
negotiation and sale of said bonds, subject -to the terms of
this Ordinance; that after the same have been properly exe-
cuted he shall deliver same bonds to the City Treasurer of the
City of Richmond, Indiana, and take the receipt of such Treas-
urer therefor, and upon the consummation of the contract for
the sale of such . bonds said Controller shall certify to said
Treasurer the amount which the purchaser is to pay therefor,
together with the name and address of purchaser, and thereupon
said City Treasurer shall receive from the purchaser the
amount so certified by said City Controller, arrl deliver to
such purchaser the bonds so sold, and take'his receipt there-
for; and .thereupon said City Treasurer and said City Con-
troller shall make report of their actions in the premises
to this Common Council.
(5 ) That said bonds of aggregate principal. of $127, 000. be -
offered for sale at public meeting after notice as herein-
after provided, at-2:00 osclock, P.M. on Monday, September 26,
1938, by the City Controller of the -City, at Council Chamber,
City Building, City of Richmond, Indiana, at which hour sealed
proposals from prospective purchasers will be received., opened
and publicly read. Said bonds to be sold, if sold, at not
less than par; all to be.dated as of October 1, 1938, and as
of such day sold. The purchaser shall pay in addition to
his bid any interest on bonds as may have accrued from October,
1, 1938, to day of delivery of bonds to him. The purchaser
shall in his sealed proposal state what premium, if.any, he
will further pay. Said bonds shall bear interest at three
(3) per centum per annum from date, with interest payable
semi-annually on the first days of April and October of each
year to respective principal maturities, with first interest
payment April 1, 1940, following levy of taxes in year 1939�
Said bonds shall mature serially in�twenty-con.secutive semi-
annual pri cipal payments of Six Thousand Three Hundred Fifty
Dollars (.t,350) each, -with first series maturing October.l,
1944; each series shall be.,of ten (10) bonds, each bond in
principal of Six Hundred Thirty-five Dollars ($635);. all
bonds issued and sold hereunder shall be negotiable without
registration, and the bonds and coupons as maturing shall be
payable at Second National Bank, Richmond,'Indiana, without
exchange, said interest payments represented by coupons to
bonds attached -as delivered.
(6) That the form of said bonds, numbered from (1) to (200)
inclusive, and series aplhabetically indicated _-commencing
with "Aa, be uniform except as to identification designation
and.maturity dates, all to be as shown in form, and in keeping
with the terms of this Ordinance; which bonds shall bear the
name and seal- of the City of , Richmond, ' Indiana, as maker, and
each bond to bear the individual signatures of the Mayor and
of the City Controller of ' the City of Richmond, Indiana; and
the attest in individual -signature of the City Clerk of the
City of'Richmond, Indiana; and likewise that the interest
coupons to bonds attached shall bear lithographic signature
of said City Controller— and which coupons shall be of uni-
form recital and of number.to bond according to the maturity
of respective bonds; all bonds and coupons as follows:
UNITED STATES OF AMERICA
STATE OF INDIANA CITY OF RICHKOND
No. Series $635.00
CITY OF RICMEOND BOND,- Auditorium ,1938
City of Richmond, . Indiana, ,a..municipal corporation within the
County of Wayne, State of Indiana, and being a city .of the
third class as defined by the laws of said State, for value
received will pay to the bearer hereof on the first day of
19. ,,upon presentation and surrender
hereof, SIX ZJNDRED THIRTY-FIVE DOLLARS, and . in the meantime
the interest thereon at rate'of three (3) pe r'centum per
annum from date; both in lawful money of the United States
of America. Said interest will be paid.semi-annually on the
first days of April and October of 'each year until maturity
of above principal, except that the first interest payment
will be made April 1, 1940,`said interest payments according
to and as,the annexed coupons become due. Upon maturity of
principal or interest payments, all interest liability thereon
shall cease, unless unpaid for want of funds and this bond
and said coupons be so endorsed upon their face by the then
City Controller of the City of Richmond, Indiana, or other
officer duly authorized so to do in the premises.
This bond and said coupons are payable without registration,
and without exchange, at respective maturities and due dates,
upon presentation and surrender at Second National Bank,
Richmond, Indiana.
This bond is one of two hundred bonds of like tenor, terms and
priority, except as to maturity, and of serial aggregates as
follows:
Bonds 1 to 10 inclusive, Series A, maturing October 1, 1944y. 3
Bonds 11? to 20 inclusive, Series B, maturing April 1, 194Y.4/
Bonds 21 to 30 inclusive, Series C, maturing October 1, 194�•,;/
Bonds 31 to 40 inclusive, Series D , maturing April 1, 1946 .�'
Bonds 41 to 50 inclusive, Series E, maturing October 1, 190.6
Bonds 51 to 60 inclusive, Series F, maturing April 1, 194?f.6
Bonds 61 to 70 inclusive, Series :G, maturing October 1, 194?.V
Bonds_
71
to
80 inclusive,
Series.H,
maturing
April 1,
1949'.)
Bonds
81.to
90 inclusive,
Series
I.
maturing
October
1, 194$-7
Bonds
91
to .100
inclusive,
Series
J,
maturing
April �,
194?.e
Bonds
101
to
110
inclusive,
Series-K.
maturing
October
1, 1949i
Bonds
111
to
120
inclusive,
Series
I,,
maturing
April.l,
195W..Y
Bonds
121
to
130
inclusive,
Series
M,
maturing
October
1, 19 0.,-/
Bonds
131
to
140
inclusive;
Series
N,
maturing
April 1,
1951.ex
Bonds
141
to
150'inclusive,
Series
0,
maturing
October
1, 195Z.0
Bonds
151
to
160
inclusive,
Series
P,
maturing
April 1,
1952•1
Bonds
161
to
170
inclusive,
Series
Q,,
maturing
October
1, 19.5,T'•j
Bonds
171
to
180
inclusive,
Series
R,
maturing
April 1,
1955.
Bonds
181
to
190
inclusive,
Series
S,
maturing
October
1, 195A.1"'o
Bonds
191
to
200
inclusive,
Series
T,
maturing
April 1,
19544
thus all bonds of all series aggregating ,$127,000., which are
issued and,sold for the purpose of providing part of the money
for construction of a public auditorium in said City for the
benefit of the population thereof; the remainder of necessary
funds being provided by the United States of -America in form
of grant-in-aid of $103;909., such auditorium and public build-
ing having been found and declared by the Common Council of
said City to be necessary, and that for the provision of the
same a proper emergency existed.
This bond and all bonds referred to herein were issued and sold
under and pursuant to the provisions of the various and several
Acts of the General Assembly of the - State of Indiana, in -
empowerment to municipal corporations -of class aforesaid, and
after due petition of fifty and more owners of taxable real
estate in. said City of Richmond, Indiana; and likewise it is
recited that the appropriation of the principal realized from
sale, par of all, as made by the Common Council of said City
was duly affirmed and approved by the State' Board of Tax
Commissioners of the State of Indiana before sale and delivery
of this and the concurrent bonds; and that all provisions of
law applicable in the premises, antecedent and prerequisite
to the sale of the bonds of which this is one, together with
all required notices, have been complied with before delivery,
and that all ?proceedings. relative to the' issuance and sale of
all said bonds have been duly entered of record upon the record
books of the Common Council of said City, and that the sale
and delivery of bonds of which this bond is one, did not occur
except after full compliance with all .provisions of the`"laws
of , State of 'Indiana prevailing in the premises.
Further it is certified that this bond and the total bonds of
issue of which_ this is. one,. together with all other indebt-
edness of the City of Richmond, Indiana, does not exceed, and
in aggregate is less than two percentum of the value.of the
taxable property within such municipal corporation, net, after
all lawful deductions and exceptions, as ascertained by the
last (1538) assessment for state and county taxes as made
previous to the indebtedness arising from the sale of such
bonds.
Further it is certified that the total issuance principal of
said bonds of which this bond is one, by delivery thereof,
constitutes a legal and binding obligation of the City of
Richmond, Indiana;. and that the full faith and credit of
said City, together with all of its taxable property, both
real and personal, is and by such issuance, sale and delivery
of bonds has become irrevocably pledged to the payment of both
principal and . inter.est of this bond; and that the money obtain-
ed as a loan to said City by the issuance, sale and delivery of
said bonds, of which this bond is one, shall be and can only be
disbursed and spent by order of.the Common Council of said City,
and same has been duly appropriated to provide payment in part
of costs of provision of a public auditorium for said -City and
the population thereof, and for the payment of incidental
expenses in connection therewith, and for no other purposes
T.Vhatsoever, all as provided by the laws of State of Indiana.
IN :"JITNESS XMIMOF the said City of ' Richmond, Indiana., by
Ordinance of the Common Council thereof, has caused this bond
to bear its name as maker, .its seal to be attached hereto,
and this bond to bear the personal signatures of the Mayor
and City Controller of said City, and the personal attest
signature of the City Clerk. of said City, and the lithographic
signature of the City Controller of -said City to be affixed to
the interest coupons attached hereto, -all for and in behalf of
said City, at its.office in said City, and all for all purposes
as of date of the first day of October, A. D. 1938.
CITY OF RICHMOND , INDIANA . . ( SEAL )
By
Mayor,, City of Richmond, Indiana.
And
City Controller, City of Richmond,
ATTEST: Indiana.
City Clerk, City of Richmond,
Indiana
Coupon -1#`1 Bond t� LL series' 428.58
.April 12 19402 City of Richmond, - Indiana, will pay to bearer
at Second National Bank, Richmond, Indiana, Twenty-eight and
58/100 Dollars on presentation and surrender of this coupon,
without exchange, same amount. being interest then due on above
numbered bond, dated 10/1/1938.
(Lithographic signature) George W. Coons,
City Controller, City
of Richmond, Indiana.
Coupon #2, Bond # Series , $9.53
October 1, 19402 City of Richmond.- Indiana, will pay to bearer
at Second National Bank,,Richmond, Indiana, Nine -and 531100
Dollars on presentation and surrender of this coupon, without
exchange, same amount being interest then due on.above numbered
bond, dated 10/1/1938.
(Lithographic signature)' George W. Coons,
City Controller, .City
of Richmond, Indiana.
Even numbered coupons, commencing with �2, each 0.53
Odd numbered coupons, commencing with-3, each $9.52
Each bond to bear coupons maturing the each six months to
maturity of bond to ' which attached.
i7.i ANDBE IT FURUIER OMA,INED by this Conaaon Council that
said bonds be offered for sale as hereinbefore stated, and
following notice of three consecutive weeks,.published in
Richmond Palladium and Richmond Item, newspapers of general
circulation printed and published inithe City of Richmond,
Indiana, and by like publication in The Indianapolis Star, a
newspaper of general circulation printed and published in City
of Indianapolis, Indiana, the State Capital; and that the form
of notice be as follows:
s'.
State of Indiana, ) Office of City Controller,
SS:
County of Wayne@ ) City of Richmond, Indiana®
NOTICE OF SALE OF BONDS OF CITY OF RICHMOND , INDIA�TA.
NOTICE IS HEREBY GIVEN that City of Richmond, Indiana, by the
City Controller thereof, at his office, City Building in said
City, until 2;00 o'clock, P.M. of Monday, September 26., 1938,
receive sealed written proposals from bidders for purchase,of
an issue of bonds of said City, and at said hour and place the
proposals.will be opened and publicly read.
This issue is in sum of,One Hundred Twenty-seven Thousand
Dollars ($127,000), represented b two hundred (200) bonds of
Six Hundred Thirty-five Dollars (635 )- each• Same of date .
October 1, 1938-, bear interest from date at 31. per annum, pay-
able "semi-annually April lit and October 111-; with first inter-
est payment April 1, 1940.. Said bonds mature 0 ,350. October
1,.194E, and like amount each six months thereafter, in series
ten bonds each. Principal, and interest payable without
exchange or registration at Second National Bank, Richmond,
Indiana. Bonds designated "City of Richmond Bond - Auditor-
ium 1938u.
Bidders will indicate the number of bonds bid for, the premium
if any offered, and agree by submission of bid to pay any
accrued interest from October 1, 1938 to day of delivery, if
for any reason delivery made after such day. -
These bonds as sold and delivered are the direct obligation of
the City. of Richmond.. Indiana, a third-class city of Indiana.,
by .the classification defined by .law.
The subcessful bidder Will be provided one copy of transcript
of proceedings without cost to it,. No deposit is -required
with bid. The right is.reserved to reject any and all bids
without giving any reason therefor.
The City of Richmond, Indiana,
by order and authority of The
Common Council thereof.
.George W. Coohs, City Controller.
Joseph M. Waltermann, Mayor•
Harold L. Salter, City Clerk.
(8) AND BE IT FURTHER ORDAINED by this Common Council that
in case any premium is paid upon purchase of said bonds such
premium so received shall be retained and paid into and be-
come a part of the "bond Fund" which is hereby created to
retire said bonds and to pay the interest thereon; and like-
wise any payment of accrued interest paid to date of delivery
of bonds shall be retained, paid into, and become a part of
said'Fund for purposes of interest payment.
And further, that the principal proceeds arising from such
sale of bonds, $127,000. together with any money coming to
City of Richmond, Indiana, in grant-in-aid from the United
States of America, together with any and all other monies
as may arise and as may be allocated to building costs and
expenses to pay the cost of building and providing the public
auditorium, the Project contemplated and intended in the issue
and sale of said bonds, shall all be deposited in "Construc-
tion Accafit" promptly on receipt thereof, . and which "Con-
struction Account" shall be a separate account and.is created
hereby. Such special "Construction Account" shall be set up
in bank or banks which are members of the Federal Deposit
Insurance Corporation, and the monies in such account shall be
expended only for such purposes as shall -have been previously
specified in signed certificates of purposes filed with and
accepted by the.United States of America, and/or such agency
thereof as by it empowered and. as directed, and all according
to the provisions of laws applicable thereto, and all of which
monies are finally and fuly appropriated for the purposes here-
in defined.
(9) AND BE IT FURTHER OEDAINED by the Common Council that this
Ordinance shall be in full force and effect upon and after its
passage.
Adopted September, 1938•
-citF Clerk, City or Richmond, Indiana.
3..