HomeMy Public PortalAboutORD07701 7�
BILL N0. J ORDINANCE NO. .'7 '?oL
AN ORDINANCE AUTHORIZING THE CITY OF JEFFERSON, MISSOURI, TO ISSUE THE
INDUSTRIAL REVENUE BONDS, SERIES OF 1965, OF SAID CITY IN THE AMOUNT OF
$2,000,000 FOR THE PURPOSE OF PURCHASING AND CONSTRUCTING A PLANT TO BE
LEASED TO CHESEBROUGH-POND'S, INC. , A NEW YORK CORPORATION, FOR MANUFAC-
ITURING AND INDUSTRIAL, DEVELOPMENT PURPOSES, HEREINAFTER REFERRED TO AS
THE "PROJECT, " SAID BONDS TO BE PAYABLE SOLELY FROM THE REVENUES DERIVED
FROM SAID PROJECT FOR INDUSTRIAL DEVELOPMENT, AUTHORIZING THE PURCHASE
AND CONSTRUCTION OF SAID PROJECT AND PRESCRIBING THE FORM OF AND AUTHOR-
IZING THE EXECUTION OF A LEASE BY AND BETWEEN SAID CITY AND SAID COMPANY.
WHEREAS, pursuant to Section 27 of Article VI of the Constitu-
tion of Missouri, 1945, as amended, and Sections 71.790 to 71.8503 1963
Supplement to Revised Statutes of Missouri, 1959, the City of Jefferson,
Missouri, hereinafter sometimes referred to as the "City" , by majority
vote of its governing body duly approved a Project for industrial develop-
ment relating to the purchase and construction of a plant at the estimate
cost of $5,500,000, $3,500,000 of which cost is to be paid out of the
proceeds of the general obligation bonds of said City 'and $2,000,000 of
which cost is to be paid out of the proceeds of the revenue bonds herein
authorized, and the lease of the same to Chesebrough-Pond's. Inc . , a New
York corporation qualified to do business in the State of Missouri, and
WHEREAS, said Project was duly approved by the Division of
Commerce and Industrial Development of the Department of Business and
(Administration of the State of Missouri, on September 13, 1965, and
WHEREAS, an ordinance was duly passed by -the City Council of
said City whereby a special election was ordered to be held in said City
on October 5, 1965, for the purpose of submitting to the qualified
electors of said City the proposition to issue the industrial revenue
I� bonds of said City in the amount of $2,000,000 for the purpose of
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purchasing and constructing a lent to be leased to Chesebrough-Pond's,
I�P g g P
Inc . , a New York corporation, for manufacturing and industrial develop-
ment purposes, hereinafter referred to as the "Project", said bonds to be
'payable solely from the revenues derived from said Project, and not to be
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a general obligation of said City, and
WHEREAS, pursuant to said ordinance and the constitutional
and statutory provisions aforesaid, notice of said election was duly
prepared, executed and published, and said special election was duly
held in said City on said October 5, 1965, and
WHEREAS, the votes cast at said special election were duly
canvassed as provided by law and it was found and determined that more
than four-sevenths of the qualified electors of said City voting on
said proposition had voted in favor of the issuance of said $2,000,000
principal amount of industrial revenue bonds of said City, the vote
on said proposition having been 5,323 votes for said proposition to
105 votes against said proposition, and
WHEREAS, the governing body of said City is now fully em-
powered to issue said bonds and to enter into a lease with said
I Company,
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF JEFFERSON, MISSOURI, AS FOLLOWS:
Section 1. That the City of Jefferson, Missouri, is hereby
i authorized to purchase and construct a plant to be leased to Chese-
brough-Pond's Inc. , a New York corporation, for manufacturing and in-
dustrial development purposes on the property described and set out as
liSchedule 1 attached hereto, said real estate being hereinafter referred
j to as the "Land, " and said plant and Land hereinafter referred to as
the "Project" (said Project being referred to in the Lease herein
authorized as the "Facility"), in accordance with the provisions of
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! the Lease dated November 1, 1965, between said City and Chesebrough-
Pond's Inc., hereinafter sometimes referred to as the "Lease, " a copy
I� of said Lease being attached hereto and marked Exhibit "A", as provided
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in Section 16 of this ordinance.
Section 2. That for the purpose of providing funds for
purchasing end constructing a plant to be leased to Chesebrough-Pond.i.s
Inc., a New York corporation, for manufacturing and development pur-
poses, there shall be issued and hereby are authorized and directed
to be issued, an issue of Industrial Revenue Bonds, Series of 1965,
of the City of Jefferson, Missouri, in the principal amount of
$2,000,000, said Bonds herein authorized, hereinafter sometimes re-
ferred to as the "Bonds" or the "Revenue Bonds." Said Bonds and all
interest thereon shall be payable solely from the rents and revenues
derived from the Project and not from any other fund or source and
ii shall not constitute a debt of said City within the meaning of any
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�i constitutional or statutory limitation.
Section 3. That said issue of Industrial Revenue Bonds,
Series of 1965, of the City of Jefferson, Missouri, shall consist of
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400 bonds numbered from 1 to 400, inclusive, each of said bonds being
in the denomination of $5,000. All of said bonds shall be dated
November 1, 1965, and shall be numbered, shall become due serially on
October 1 in each year and shall bear interest as follows:
MATURITY INTEREST
NUMBERS AMOUNT OCTOBER 1 RATE
1 - 41 $205,000 1967 3-3/49
42 - 84 215,000 1968 3-3/4%
85 - 129 225,000 1969 3-3/4%
' 130 - 175 230,000 1970 3-3/4%
176 - 223 240,000 1971 3-3/49
224 - 273 250,000 1972 3-3/4%
274 - 325 26o,000 1973 3-3/4%
326 - 379 270,000 1974 3-3/4%
I 380 - 400 105,000 1975 3-3/4%
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Said Bonds shall bear interest from date, payable semiannually on April 1
and October 1 in each year.
Each of said Bonds numbered 1 to 400, inclusive, shall be sub-
ject to redemption and payment on any interest payment date upon either
of the following conditions or events : (1) if title to, or the use for a
limited period of, substantially all of the Project subject to said
Lease, be condemned by any authority having the power of eminent domain;
or (2) if substantially all of the Project is damaged or destroyed by
fire or other casualty. In either of such events all of said Bonds shall
be subject to redemption on any interest payment date prior to their
ultimate maturity at the par value thereof, plus accrued interest thereon
to date fixed for redemption and payment, together with a premium which
shall be equal to two per cent (2%) of the principal amount of the Bonds
so redeemed and paid, provided all of such Bonds are redeemed and paid
according to their terms .
Notice of any redemption provided for by this ordinance shall
be given by United States registered mail to the Paying Agent herein
designated and to the original purchasers of said Bonds, such notice to
be mailed at least 30 days prior to the date fixed for redemption and
payment and to specify the numberskof the Bonds to be redeemed and paid.
Interest shall cease on any of said Bonds so called for redemption and
payment as of the redemption date, provided funds are available to pay
the same according to their terms .
Said Bonds and the interest coupons to be attached thereto shat
be payable in lawful money of the United States of America at Chase
Manhattan Bank in the City of New York, New York.
Section 4. Said Bonds shall be executed for and on
behalf of the City by the facsimile signature of the Mayor and the
�jmanual signature of the City Clerk and the seal of said City shall be
affixed thereto. Interest coupons shall be attached to said Bonds
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representing the interest thereon and said interest coupons shall bear
the facsimile signatures of said Mayor and City Clerk.
Section 5. Each of said Bonds and the interest coupons attache
thereto shall be in substantially the following form:
No. $5.,000
UNITED STATES OF AMERICA
STATE OF MISSOURI
COUNTY OF COLE
CITY OF JEFFERSON
INDUSTRIAL REVENUE BOND, SERIES OF 1965
KNOW ALL MEN BY THESE PRESENTS: That the City of Jefferson in
the County of Cole, State of Missouri, a municipal corporation, for value
received, hereby .promises to pay the bearer hereof, solely out of the
revenues hereinafter referred to, the sum of
FIVE THOUSAND DOLLARS
in lawful money of the United States of America, on the First day of
October, 19 , and to pay interest thereon from the date hereof at the
rate of 3 3/4% per annum, payable semiannually on April 1 and October 1
in each year after the date hereof until the said principal sum shall have
been paid, upon presentation and surrender of the interest coupons hereto
attached, bearing the facsimile signatures of the Mayor and City Clerk of
said City, as said coupons severally become due.
Both principal of and interest on this Bond are payable in
lawful money of the United States of America at Chase Manhattan Bank, in
the City of New York, New York.
This Bond is one of an authorized series of 400 Bonds of like
date and tenor, except as to number and maturity aggregating the principal
amount of $2,000,000 numbered from 1 to 400, inclusive, authorized by
jordinance of said City for the purpose of purchasing and constructing a
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plant to be leased to Chesebrough-Pond's. Inc . , a New York corporation,
for manufacturing and industrial development purposes, said plant and the
real estate on which the same is situated being sometimes hereinafter
referred to as the "Project" , by the authority of and in conformity with
the provisions, restrictions and limitations of the Constitution and
statutes of the State of Missouri, including Section 27 of Article VI of
the Constitution of Missouri, 1945, as amended, and Sections 71.790 to
71.850, 1963 Supplement to Revised Statutes of Missouri, 1959, and all
other laws of said State applicable thereto and pursuant to an election
duly held in said City on October 5, 1965, and to ordinances duly passed
and proceedings duly had by the City Council of the City of Jefferson,
Missouri.
This Bond and the interest thereon are payable solely from the
rents and revenues due under a Lease of the Project by the City to
iChesebrough-Pond's, Inc. , dated November 1, 1965, which rents and
revenues are pledged to the payment of the principal of and interest on
this Bond and the series of Bonds of which this Bond is a part, and this
Bond does not constitute a debt of said City within the meaning of any
constitutional or statutory limitation. Reference is hereby made to the
ordinance authorizing the issue of Bonds of which this Bond is one, and"
said Lease for a description of the covenants of the City with respect to
the collection, segregation and application of the rents and revenues of
the Project, the rights, duties and obligations of the City with respect
thereto, and the rights of the holders of the series of Bonds of which
this Bond is one.
Each of the Bonds of the series of which this Bond is one is
; subject to redemption and payment prior to maturity on any interest pay-
ment date upon either of the following conditions or events : (1) if
title to, or the use for a limited period of, substantially all of the
Project be condemned by any authority having the power of eminent domain,
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or (2) if substantially all of the Project is damaged or destroyed by
fire or other casualty. In either of such events, all of said Bonds
shall be subject to redemption and payment at the par value thereof plus
accrued interest thereon to date of .redemption, together with a premium
of two per cent (2%) of the principal amount of the Bonds so called for
redemption and payment, provided all of said Bonds are redeemed and paid
according to their terms.
Notice of the City's intention to redeem and pay said Bonds
pursuant to any of the redemption provisions aforesaid, specifying the
numbers of the Bonds to be redeemed and paid, shall be given by United
States registered mail to Chase Manhattan Bank in the City of New York,
New York, not less than 30 days prior to the date fixed for redemption
and payment.
It is hereby declared and certified that all acts, conditions
and things required to be done and to exist precedent to and in the issu-
ance of this Bond, and of the issue of which this Bond is one, have been
properly done and performed, have happened and do exist in due and
( regular form and manner as required by the Constitution and statutes of
the State of Missouri.
IN WITNESS WHEREOF, the City of Jefferson, Missouri, has caused
this Bond to be signed by the facsimile signature of its Mayor, attested
by the manual signature of its City Clerk and its corporate seal to be
affixed hereto and the interest coupons hereto attached to be signed with
the facsimile signatures of said officers and this Bond to be dated this
First day of November, 1965.
(facsimile) _
Mayor
ATTEST:
City Clerk
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(FORM OF COUPON)
Coupon No. $
April,
On the First day of October, l9_$ the City of Jefferson,
Missouri, will pay to bearer solely from the revenues received from the
rents and revenues derived from the Project described in the Bond to
which this coupon is attached, and not from any other fund or source,
$ in lawful money of the United States of America at Chase
Manhattan Bank in the City of New York, New York, being interest due on
that date on its Industrial Revenue Bond, Series of 1965, dated November
1, 1965, No.
(facsimile)
Mayor
ATTEST:
(facsimile)
City Clerk
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Section 6. That the Mayor and City Clerk are hereby authorized
and directed. to prepare and execute the Industrial Revenue Bonds, Series
of 1965, hereinbefore described, and to deliver said Bonds to Stern
Brothers & Co. , of Kansas City, Missouri, the purchaser thereof, on
payment of the purchase price.
Section 7. There is hereby authorized and ordered to be estab-
lished in the hands of Central Missouri Trust Company, in the City of
Jefferson City, Missouri, hereby designated as the City's Fiscal Agent
and hereinafter referred to as the "Fiscal Agent", a separate fund or
account designated as "Chesebrough-Pond's, Inc. Construction Fund", here-
inafter referred to as the "Construction Fund", into which the proceeds
from the sale of said Bonds shall be deposited.
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Section 8. Concurrently with the issuance of said Bonds, the
Fiscal Agent shall withdraw from said Construction Fund any accrued
interest from the sale of said Bonds together with a sum which shall
aggregate the sum necessary to pay the interest becoming due on said
Bonds on April 1, 1966, and October 1, 1966, said amount representing the
interest due on said Bonds during the estimated period of construction of
the Project, and shall deposit the same in the City of Jefferson,
Missouri, Principal and Interest Account for Industrial Revenue Bonds,
Series of 1965, dated November 1, 1965, hereinafter created.
Section 9. The Fiscal Agent shall make disbursements from said
Construction Fund for the completion of the Project in accordance with
the terms and provisions of the Lease dated November 1, 1965, between
said City and Chesebrough-Pond's. Inc. , authorized by the provisions of
this ordinance. Any moneys in said Fund not required for said purpose
shall be deposited in said Principal and Interest Account at such time as
the Company shall certify that the Project is complete.
Section 10. There is hereby authorized and ordered to be
established in the hands of the Fiscal Agent, a separate fund or account,
hereby designated as the "City of Jefferson, Missouri, Principal and
Interest Account for Industrial Revenue Bonds, Series of 1965, dated
November 1, 1965", hereinafter referred to as "Principal and Interest
Account" . The City covenants and agrees that from and after the delivery
of any of the Revenue Bonds herein authorized, and continuing as long as
any of said Bonds shall remain outstanding, said City will maintain said
Account with the Fiscal Agent. All payments of basic rent due under said
Lease between said City and Chesebrough-Ponds. Inc . shall be applied and
allocated by said Fiscal Agent, beginning on the 1'�5- day of March,
1967, and continuing on the i,.7 day of September and the day of
March in each year thereafter as long as any of said Revenue Bonds remain
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outstanding and unpaid, to said Principal and Interest Account . All
! amounts credited to and deposited in said Principal and Interest Account i
shall be expended and used by the City's Fiscal Agent for the sole
purpose of paying the principal of and interest on the Revenue Bonds here-
in authorized as and when the same become due.
Section 11. Any moneys received by said Fiscal Agent from
I� Chesebrough-Pond' s, Inc. to enable said City to call said Bonds for
redemption and payment prior to their ultimate maturity shall be de-
posited in said Principal and Interest Account and shall be applied
solely for the purpose of redeeming and paying said Bonds, including the
payment of any necessary premium due on said Bonds upon call for redemp-
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tion and payment. On receipt of any such funds said City shall immedi-
ately proceed to give notice of such redemption in the manner herein
specified.
! Section 12. Moneys in the Chesebrough-Pond's, Inc. Construction
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Fund shall, unless otherwise instructed by the Company, be invested by
the Fiscal Agent in direct obligations of the United States Government
i becoming due within 12 months from the date of purchase. Moneys allocate
and credited to and deposited in the Principal and Interest Account may
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be invested by the Fiscal Agent upon instructions from the Company in
11 bonds or other obligations of the United States becoming due not more
I� than 30 days prior to the next principal or interest payment date, pro-
vided, however, that moneys in said Principal and Interest Account
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in excess of the amount necessary to pay the principal of and
j interest on said Bonds becoming due on the next principal or interest
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payment date, may be invested by the Fiscal Agent, upon instruction from
the Company, in bonds or other obligations of the United States Govern-
ment, or agencies thereof, having a fixed redemption value , or becoming
due without loss of principal not later than September 15, 1975• No
investments shall be made pursuant to this Section 12 of this ordinance
for a period longer than the time the Fiscal Agent shall determine that
such funds are not required for the purpose for which they are intended.
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! All interest on any bonds or obligations held in said Construction Fund
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or in said Principal and Interest Account shall be deposited in said
Principal and Interest Account, and shall accrue to and become a part of
such Account.
Section 13. So long as any of the principal of and interest on
the Revenue Bonds herein authorized remain outstanding and unpaid, or
until payment thereof provided for, the City covenants with each of the
purchasers and owners of said Bonds as follows :
(A) The City will comply fully with all the terms, provisions,
and conditions of the Lease which require performance by, or impose duties
on the City and that the City will not permit any default in said Lease
to occur on the part of the City; that it will fully and promptly enforce
all of the terms, provisions and conditions of the Lease which require
performance by, or impose duties on Chesebrough-Pond's, Inc. , and in the
event of the occurrence of a default, as defined in the Lease, will
exercise all rights, remedies conferred by the Lease and the laws of the
State of Missouri for the full and complete protection of the security
and rights of the bondholders and to the extent permitted by the Lease,
will use its best efforts to procure a new tenant or tenants for the
leased property under Lease provisions which will provide funds sufficient
3n amount to make the rental payments and other charges which Chesebrough-
Pond's, Inc. is required to make under the Lease dated November 1, .1965,
and will deposit the same in the Principal and Interest Account. If the
City is unable to procure a new tenant who will enter into such a lease,
the City may, if at the time permitted by law and with the consent of the
holders of not less than 75% of the Bonds herein authorized at the time
outstanding, sell the Project at a price which shall be not less than the
amount of then outstanding Revenue Bonds plus interest then unpaid.
(B) The City will enforce collection of the rental payments
and other charges in the amounts and at the times set forth in the Lease
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authorized by this ordinance and will not reduce or cause or permit to be
reduced the rental payments and other charges fixed, established and re-
quired by the Lease nor change or alter the time or times when the same
are due and payable under said Lease, except as provided in the Lease.
(C) That until payment of all the Bonds herein authorized, and
interest thereon has been duly made or provided for, the City will not
consent to any change, amendment, modification or termination of said
Lease, except as provided therein, which will in any manner affect ad-
0 versely the rights, remedies or interest of the holders of the Bonds
herein authorized.
(D) Any proceeds of condemnation awards, insurance proceeds or
other funds intended for the purpose of paying said Bonds and the interest
thereon prior to their ultimate maturity, will be used solely and exclu-
sively for said purpose. Upon receipt of any such funds, if said Bonds
then be subject to redemption and payment or as soon thereafter as said
Bonds become subject to redemption, the City shall promptly call said
Bonds according to their terms and shall give notice of such redemption
as provided in this ordinance, provided all of said Bonds then outstand-
ing are so redeemed and paid. Any such funds shall be deposited with the
Fiscal Agent and the same shall be used solely for the payment of the
Revenue Bonds herein authorized, accrued interest thereon, any premium
provided for by this ordinance and for the charges of the Fiscal Agent
for paying the same.
(E) The City will not issue any other obligations payable from
payments made by Chesebrough-Pond's, Inc. , pursuant to the Lease, nor
voluntarily create or cause to be created any debt, lien, pledge, assign-
ment, encumbrance, or any other charge on said payments or on the property
subject to said Lease nor will it, unless required by law or provided for
by the terms of said Lease sell or otherwise dispose of the Facility or
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any part thereof; provided, however, that said City may issue from time
to time additional industrial revenue bonds for the purpose of extending
and improving the facilities financed out of the proceeds of this bond
issue, or completing the construction or acquisition thereof, or con-
structing and equipping additional improvements which extensions and
improvements may be located on the land hereinbefore described, providing
the following terms and conditions are met:
(a) The City shall have entered into a lease or agree-
ment with Chesebrough-Pond's, Inc. at rentals or payments at
least sufficient to pay the principal of and interest on
said bonds;
(b) Chesebrough-Pond's, Inc. is not in default with
respect to the payment of rent.
(F) The City will cause the Company to keep constantly insured
all buildings and improvements from time to time constituting a part of
the property and premises leased to the Company, in the manner provided
for by the Lease herein authorized. The City's shares of the proceeds of
any such insurance; policies shall be payable to and deposited with the
Fiscal Agent as Insurance Trustee. Any of the proceeds of such policies
shall be used and applied in the manner set forth in Article XXII
of said Lease.
(G) The City will cause the Fiscal Agent to keep books and
records relating to the Project, which shall be separate and apart from
all other books, records and accounts of the City, in which complete and
correct entries shall be made in accordance with standard principles of
accounting of all transactions relating to the leased property and
improvements, and the original purchasers of the Revenue Bonds herein
authorized, any bondholder or Chesebrough-Pond's, Inc. , or their agents,
shall have the right at all reasonable times to inspect all records,
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accounts and data of the City relating to the leased property and improve-
ments .
Section 14. The provisions of the Bonds authorized by this
ordinance and provisions of this ordinance may be modified or amended at
any time by the City with the written consent of the holders of not less
than 75o in aggregate principal amount of the Bonds herein authorized at
the time outstanding; provided, that no such modification or amendment
shall permit or be construed as permitting: (a) the extension of the
maturity of the principal of any of the Bonds issued hereunder, or the
extension of the maturity of any interest on any Bonds issued hereunder,
(b) a reduction in the principal amount of any Bonds or the rate of
interest thereon, or (c) a reduction in the aggregate principal amount of
Bonds, the consent of the holders of which is required for any such amend-
ment or modification. Any provision of the Bonds or of this ordinance
may, however, be modified or amended in any respect with the written
consent of the holders of all of the Bonds then outstanding. Every amend-
ment or modification of a provision of the Bonds or of this ordinance to
which the written consent of the bondholders is given as above provided
shall be expressed in an ordinance of the City amending or supplementing
the provisions of this ordinance and shall be deemed to be a part of this
ordinance. It shall not be necessary to note on any of the outstanding
Bonds any reference to such amendment or modification, if any. A certi-
fied copy of every such amendatory or supplemental ordinance, if any, and
a certified copy of this ordinance shall be kept on file in the office of
the City Clerk and shall be made available for inspection by the holder
of any Bond or prospective purchaser or holder of any Bond authorized by
this ordinance, and upon payment of the reasonable cost of preparing the
same, a certified copy of any such amendatory or supplemental ordinance
or of this ordinance will be sent by the City Clerk to any such bondholder
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or prospective bondholder.
Section 15. The provisions of this ordinance shall constitute
a contract between the City of Jefferson, Missouri, and the holders
of the Revenue Bonds herein authorized, and the holder of any one
or more of said Bonds may sue, in any action, in mandamus injunction,
or other proceedings, either at law or in equity, to enforce or compel
performance of all duties and obligations required by this ordinance
to be done or performed by said City. Nothing contained in this
ordinance shall, however, be construed to impose on said City any duty
or obligations to levy any taxes either to meet any obligation contained
herein or to pay the principal of or interest on the Revenue Bonds of
the City herein authorized.
Section 16. That the tract of land hereinbefore described
and the improvements and equipment to be acquired, installed and
constructed thereon, pursuant to this ordinance and said Lease, shall
be leased to Chesebrough-Pond's. Inc . under and pursuant to the
Lease dated November 1, 1965, in the form attached to this ordinance
and marked Exhibit "A", which Lease the Mayor and City Clerk are hereby
authorized and directed to execute for and on behalf of and as the act
and deed of the City of Jefferson, Missouri.
Section 17. If any one or more of the covenants, agreements
or provisions of this ordinance or of said Lease dated November 1, 1965,
should be held contrary to any express provision of law or contrary to
the policy of express law, though not expressly prohibited, or against
public policy, or shall for any reason whatsoever be held invalid, then
such covenants, agreements or provisions shall be null and void and
shall be deemed separate from the remaining covenants, agreements
, or provisions, and shall in no way affect the validity of the other
provisions of this ordinance or of the Bonds issued hereunder, or of the
Lease.
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Section 18. That this ordinance shall be in full force and
effect from and after its passage and approval.
PASSED by the City Council this day of J ,
1965.
May
` ATTEST:
city cierk
APPROVED by the Mayor this V�day of ,
1965. r
Mayor
ATTEST:
city clerk
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s
Schedule 1
(a)Part of the East 32 of the Southwest % of Section 34, Township 45, Range
12, and part of the Northeast fractional 314' of Section 3, Township 44, Range
12, described as beginning at the Northwest corner of the East 32' of the
Southwest 114' of Section 34, Township 45, Range 12; thence East with the
North line of said % 34 Section 983.40 feet; thence South 3 degrees 29
minutes East and parallel with the West line of said 3i % Section 2761.33
feet to the Northerly line of the Missouri Pacific Railway Right of Way;
thence continuing along the same course South 3 degrees 29 minutes East
to the Southerly line of said Missouri Pacific Railway Right of Way; thence
South 81 degrees 19 minutes East along the said Southerly line of Right
of Way to its intersection with the Northerly line of North Ten Mile Drive;
thence Westerly along the said Northerly line of North Ten Mile Drive
as follows: South 58 degrees 31 minutes West 357.56 feet; thence South 64
degrees 40 minutes West 50.0 feet; thence South 78 degrees 50 minutes
West 50.0 feet; thence North 82 degrees 22 minutes East 1227.0 feet to
intersection with the Southerly prolongation of the West line of the East
;l of the Southwest 34 of Section 34, Township 45, Range 12; thence North
along said West line and Southerly prolongation 2951.76 feet to the point
of beginning, in Cole County, Missouri, INCLUDING THEREWITH
easements for roadway purposes over the following described two tracts:
TRACT I: A strip of land 60 feet wide and being part of the East 32' of the
Southwest 34' and part of the West 32' of the Southeast 34' of Section 34,
Township 45, Range 12, Cole County, Missouri, described as beginning at
the center of said Section 34; thence Easterly along the 31 section line
258.65 feet to the 'West line of Missouri State Route 41; thence South
along said West line 60 feet; thence Westerly and parallel with the East-
West 3a section line of said Section 34 a distance of 648.12 feet to the East
line of the tract of land described in the Trustee's Deed dated March 14,
1962, recorded in Book 178, page 116, office of the Recorder of Deeds of
Cole County, Missouri; thence North along said East line 60 feet to the
;a section line; thence Easterly along the 34' section line 389.47 feet to the
point of beginning.
TRACT II: Part of the Northeast fractional 34' of Section 3, Township 44,
Range 12, Cole County, Missouri, described as from the intersecting East
line of Section 3, Township 44, Range 12, measure westwardly along the
center line of Missouri Pacific Railroad Company Track No. 115 (formerly
Bagnell Branch) 830 feet more or less, to the West line of Missouri High-
way No. 41; thence Northwardly along said West line of Missouri Highway
No. 41 a distance of 31 feet, more or less, to a point 30 feet Northerly of
and at right angles from the center line of said Track No. 115 from the
point of beginning; thence Northwesterly 30 feet Northerly of and parallel
to the center line of said Tract No. 115 a distance of 705 feet; thence
Northeastwardly at right angles to the center of said Track No. 115 a
distance of 20 feet, more or less, to the South line of the tract of land
described in the Trustee's dated March 14, 1962, recorded in Book 178,
page 116, office of the Recorder of Deeds of Cole County, Missouri; thence
Southeasterly along the South line of said tract to the Southeast corner
of said tract; thence Northerly along the East line of said tract 40.8 feet;
thence South 81 degrees 41 minutes East 100 feet; thence South 86 degrees
27 minutes East 301.04 feet; thence South 81 degrees 41 minutes East 100
feet; thence South 67 degrees 39 minutes East 103.08 feet; thence South 81
degrees 41 minutes East 78 feet to the West line of Missouri State Route
41; thence South 2 degrees 57 minutes West along said West line of State
Route 41 a distance of 40.8 feet to the point of beginning.
Subject to such easements, restrictions, reservations, encumbrances, limita-
tions and rights of the public as are set forth in a Commitment to Insure
issued by Kansas City Title Insurance Company, dated October 11, 1965,
bearing No. x-800240.
(b) All buildings and improvements and machinery and equipment to be
constructed or purchased and installed on the land pursuant to article 1V
hereof.
j. �
Schedule 1
(a) Part of the East M of the Southwest 34 of Section 34, Township 45, Range
12, and part of the Northeast fractional %of Section 3, Township 44, Range
12, described as beginning at the Northwest corner of the East % of the
;y Southwest 34 of Section 34, Township 45, Range 12; thence East with the
North line of said 32 34 Section 983.40 feet; thence South 3 degrees 29
minutes East and parallel with the West line of said X 34 Section 2761.33
feet to the Northerly line of the Missouri Pacific Railway Right of Way;
thence continuing along the same course South 3 degrees 29 minutes East
to the Southerly line of said Missouri Pacific Railway Right of Way; thence
South 81 degrees 19 minutes East along the said Southerly line of Right
of Way to its intersection with the Northerly line of North Ten Mile Drive;
thence Westerly along the said Northerly line of North Ten Mile Drive
as follows: South 58 degrees 31 minutes West 357.56 feet; thence South 64
degrees 40 minutes West 50.0 feet; thence South 78 degrees 50 minutes
West 50.0 feet; thence North 82 degrees 22 minutes East 1227.0 feet to
intersection with the Southerly prolongation of the West line of the East
32' of the Southwest % of Section 34, Township 45, Range 12; thence North
along said West line and Southerly prolongation 2951.76 feet to the point
of beginning, in Cole County, Missouri, INCLUDING THEREWITH
easements for roadway purposes over the following described two tracts:
TRACT I: A strip of land 60 feet wide and being part of the East % of the
Southwest % and part of the West h' of the Southeast 34 of Section 34,
Township 45, Range 12, Cole County, Missouri, described as beginning at
the center of said Section 34; thence Easterly along the 34 section line
258.65 feet to the West line of Missouri State Route 41; thence South
along said West line 60 feet; thence Westerly and parallel with the East-
West 34 section line of said Section 34 a distance of 648.12 feet to the East
line of the tract of land described in the Trustee's Deed dated March 14,
1962, recorded in Book 178, page 116, office of the Recorder of Deeds of
Cole County, Missouri; thence North along said East line 60 feet to the
34 section line; thence Easterly along the 3f section line 389.47 feet to the
point of beginning.
TRACT II: Part of the Northeast fractional % of Section 3, Township 44,
Range 12, Cole County, Missouri, described as from the intersecting East
line of Section 3, Township 44, Range 12, measure westwardly along the
center line of Missouri Pacific Railroad Company Track No. 115 (formerly
1
Bagnell Branch) 830 feet more or less, to the West lino of Missouri High-
way No. 41; thence Northwardly along said West line of Missouri Highway
No. 41 a distance of 31 feet, more or less, to it point 30 feet Northerly of
and at right angles from the center lino of suid 'Track No, 115 from the
point of beginning; thence Northwesterly 30 feet Northerly of and parallel
to the center line of said 'Tract No, 115 it distance of 705 feet; thence
Northeastwardly at right tingles to the canter of said 'Track No. 115 a
distance•of 20 feet, more or less, to the South line of the tract of land
described in the Trustee's dated March 14, HXJ2, recorded in Book 178,
page 116, office of the Recorder of Deeds of Cole Comity, Missouri; thence
Southeasterly along the South line of said tract to the Southeast corner
of said tract; thence Northerly along the last litre of strict tract 40.8 feet;
thence South 81 degrees 41 minutes East 100 feet; thence South 86 degrees
27 minutes East 301,04 feet; thence South 81 degrees 41'minutes East 100
feet; thence South 67 degrees 39 minutes Dust 103.08 feet; thence South 81
degrees 41 minutes East 78 feet to the West line of Missouri State Route
41; thence South 2 degrees 57 mimttes West along said West line of State
Route 41 a distance of 40,8 feet to the point of beginning.
Subject to such easements, restrictions, reservations, encumbrances, limita-
tions and rights of the public its w•e sot forth in it Commitment to Insure
issued by Kansas City 'Title Insurance Company, dated October 11, 1965,
bearing No. x-800240.
(b) All buildings turd Ill prove,nents and Inaeltinery turd equipment to be
constructed or purchased and installed on the land pursuant to article 1V
hereof,