HomeMy Public PortalAboutORD07800 BILL NO. 31.
Introduced by Councilmen Debo, Haake, Hawes, Hiesberger, Kliegel, Riner,
Scrivner, Stone, Van Loo and Willcoxon.
ORDn1kNCE NO.
Ail ORDINANCE DIRECTING THE ISSUANCE OF FIRE DEPARTMENT
BONDS OF THE CITY OF JE FIE SON, COLE COUNTY, 14ISSOURI,
IN THE PRINCIPAL AMOUNT OF THREE HUNDRED THOUSAND DOLLARS
($300,000)., BEING PART OF All' ISSUE OF SEVEN HU110RED
THOUSAND DOLLARS ($700,000), AUTHORIZED AT A SPECIAL
ELECTION HELD IN SAID CITY ON THE 5th DAY OF APRIL, 1966;
SETTING OUT THE FORM OF SAID BONDS AND THE INTEREST
COUPONS TO BE ATTACHED THERETO, DETERMINING THE RATES
OF INTEREST, MATURITIES, AND PLACE OF PAYMENT THEREOF:
AND PROVIDING FOR THE LEVY OF AN ANNUAL TAX SUFFICIENT
TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND
TO PAY TIM PRINCIPAL THEREOF AT MATURITY.
WHEREAS, the City Council of the City of Jefferson, Cole County, Missouri,
by Ordinance No. 7747, duly and regularly adopted at a meeting of said City Council
held on the 21st day of February, 1966, and approved by the Mayor of said City on
the 23rd day of February, 1966, did direct that a special election be held in said
City on Tuesday, the 5th day of April, 1966, for the purpose of submitting to the
qualified electors of said City the following proposition:
PROPOSITION
Proposition to issue the general obligation bonds of
the City of Jefferson, Cole County, Missouri, to the
amount of Seven Hundred Thousand Dollars (.700,000)
to provide funds for the purchase of ground and the
erection thereon of three (3) new fire stations, in-
cluding the purchase of apparatus useful in the ex-
tinguishing of fires.
and
WHEREAS, said Ordinance did direct that the said election be held in all•
of the Wards of said City and at the polling places designated in the aforesaid Ordin-
ance No: 7747; and
WHEREAS, due and regular notice of the aforesaid election was given as
directed by said Ordinance and as required by law, by publication in The Post-Tribune,
on the 14th, 21st and 28th days .of March, 1966, and on the 4th day of April, 1966;
said The Post-Tribune being a daily newspaper published and of general circulation in
the City of Jefferson, and said newspaper having been previously admitted to the Post
Office in said City as second class matter and having been published regularly and
consecutively for a period of more than three (3) years prior to the first publication
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of said notice, and said newspaper havin;; a list of bona fide subscribers voluntarily
engaged as such, who have paid or agreed to pay a stated price for subscriptions
thereto for a definite period of time; and
VaMEAS, said notice was published in said newspaper once a week for four
(1�) consecutive weeks prior to the date of said election, the first of said publica-
tions in said newspaper having occurred at least twenty-one (21) days before the date
of said election and the last of said publications in said newspaper having occurred
within two (2) weeks of the date of said election; and
WHEREAS, this City Council did appoint judges and clerks of said election
and did make provision for the use thereat of ballots in the form provided by law;
and
WHEREAS, the ballot used at said special election was in substantially the
form set out in the aforesaid Ordinance No. 7747; and
WBEREA.S, said election was duly and regularly held in all -respects as re-
quired by the Statutes of Missouri; and
WHEREAS, the judges and clerks of said elections, immediately upon the
closing of the polls on said 5th day of April, 1966, did make out, certify, and trans-
mit to this City Council, through the City Clerk, the returns of said election; and
WHEREAS, the said City Clerk on the 19th day of April, 1966, did transmit
said returns of said election to this City Council; and
WHEREAS, this City Council, on the 19th day of April, 1966, did canvass the
returns and did then find and determine and does now again find and determine that
there were cast on the aforesaid proposition an aggregate of four thousand, seven
hundred fifty-three 0+,753) votes, of which four thousand and fifty-four (4,054)
votes were in favor of the aforesaid proposition and six hundred ninety-nine (699)
votes were against the aforesaid proposition; and
4nMREAS, the aforesaid proposition, therefore, was assented to by a major-
ity of'more than two-thirds of the qualified electors of said City voting thereon
at said election; and
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1,7HEREAS, the assessed valuation of taxable, tangible property within the
corporate limits of the City of Jefferson, as ascertained by the assessment for state
and county purposes made as of January 11 1965, and being the last completed assess-
went made prior to the 5th day of April, 1966) was Forty-three Million, Seven Hundred
Five Thousand, Three Hundred Seventy-one Dollars 043,705,371); and
4IHEREAS, the City of Jefferson, Missouri, on the date of said election, to-
wit: on the 5th day of April, 1966; had outstanding bonded indebtedness aggregating
Two Million, Seven Hundred Ninety-eight Thousand Dollars (,798,000), excluding in-
dustrial bonds and revenue bonds; and
WHEREAS, the aggregate amount of bonds authorized at said election, to-wit:
Seven Hundred Thousand Dollars ($700,000), together with the aforesaid outstanding
indebtedness of said City, did not on said 5th day of April, 1966, and does not now
exceed any limit of indebtedness prescribed under the Constitution and Laws of the
State of Missouri; and
WHEREAS, the City Council of the City of Jefferson has been lawfully author-
ized to issue bonds of said City in the amount and for the purpose aforesaid; and
I*MREAS, the City Council has found and determined that it is advisable
at this time to issue Three Hundred Thousand Dollars (300,000) of bonds authorized
under the aforesaid proposition and to reserve and retain the authority hereafter to
issue the remaining 400,000 of bonds authorized as aforesaid; and
WHEREAS, pursuant to notice given as directed by the Council, bids for
Three Hundred Thousand Dollars 0300,000) Fire Department Bonds, being part of the
Seven Hundred Thousand Dollars ($700,000) bonds authorized at the aforesaid special
election held on the 5th day of April, 1966, were received on the 6th day of June,
1966, at which time the said bonds were awarded and sold to the highest and best
bidder therefor; and
WHEREAS, the successful bidder for said bonds has requested that said bonds
be made payable as to principal and interest at the Central Missouri Trust Company,
in the City of.Jefferson City, State of Missouri, and that said bonds be issued in
the denomination of Five Thousand .Dollars ($5,000); and
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4.
WHEREAS, this Council does now find and det:,ermine that the aforesaid re-
quests should be Approved; and
Wk-RMS, this Council does now find and deterraine that it is necessary and
desirable at this time to direct the issuance of said bonds:
NOW, THEREFORE, BE IT ORDAINED BY TrM, COUYCIL OF TIM CITY OF JEFFERSONO
COLE COUNTY, MISSOURI, AS FOLLOWS:
SECTIOI3 1. That there are hereby authorized and ordered to be prepared
and issued Three Hundred Thousand Dollars (300,000) of Fire Department Bonds of
the City of Jefferson, Missouri, to provide funds for the purchase of ground and
the erection thereon of three (3) new fire stations, including the purchase of appa-
ratus useful in the extinguishing of fires. Said bonds shall be of the denomination
of Five Thousand Dollars ($5,000) each; shall be numbered from One (1) to Sixty
(60), both inclusive; shall bear date of May 1, 1966; and shall bear interest from
the date thereof at the rates per annum hereinafter set forth, payable November 1,
1966, and semi-annually thereafter on May 1 and November 1 in each year until the
principal of said bonds, respectively, shall have been fully paid. Interest accru-
ing on said bonds on and prior to the maturity dates thereof shall be payable upon
Presentation and surrender of the interest coupons to be attached to said bonds.
Both principal of and interest on said bonds shall be payable in lawful money of the
United States of America at the Central Missouri Trust Company, in Jefferson City,
Missouri. The said bonds shall be executed by the facsimile signature of the Mayor
of said City, under the seal of said City, attested by the manual signature of the
City Clerk, and the interest coupons to be attached to said bonds shall be executed
by the facsimile signature of said City Clerk, and said bonds shall mature, without
option of prior payment, in the amounts and at the times hereinafter set out, and
shall bear interest, as follows:
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RATE OF tuATURITY
POND t1U�iIBERS INVEST (may 1)
1 3-3/;11� $ 5,000 1967
2 3-3/4� 5,000 1968
3 3-3/4i 5,000 1969
4 and 5 �+L 10,000 1970
6 and 7 4;'� 10,000 1971
8 and 9 10,000 1972
10 and 11 1E;o 10,000 1973
12 to 14, Inclusive 15,000 1974
15 to 17 �+;, 15,000 1975
18 to 20 " ; 15,000 1976
21 to 24 " 3.80°j, 20,000 19(7
25 to 28 " 3.70; 20,000 1,078
29 to 32 " 3.70c0 20,000 1979
33 to 36 3.70% 20,000 1980
37 to 40 " 3.70% 20,000 1981
41 to 44 3.7C;; 20,000 1982
45 to 48 " 3.7050 20,000 1983
49 to 52 3.70;, 20,000 1984
53 to 56 3.70`i� 20,000 1985
57 to 6o 3.70` 20,000 1986
SECTION 2. That the said bonds and the interest coupons evidencing the
interest to accrue thereon shall be in substantially the following, form, to-brit:
UNITED STATES OF AMEERICA
STATE OF AIISSOURI
COUNTY OF COLET
CITY OF JEFFERSON
N
FIRE DEPARTIMITT BOND
No. � $5,000
The City of Jefferson, Cole County, 14issouri, acknowledges, itself indebted
and, for value received, hereby promises to pay to bearer the sum of
FIVE THOUSAND DOLLARS
($5,000) on the first day of May, 19 , with interest thereon from the date hereof
at the rate of per centum ( %) per annum
pay-
able November 1, 1966, and semi-annually thereafter on May 1 and November 1 in each
year until the principal hereof shall have been fully paid. Interest accruing on this
bond on and prior to the maturity date hereof shall be payable upon presentation and
surrender of the attached coupons as they severally become due.
6.
Both principal of and interest on this bond are payable in lawful money of
the United States of America at the Central Missouri Trust Company, in Jefferson
City, Missouri, and for the prompt payment of this bond and the interest thereon as
and when the same matures and accrues, the full faith, credit, and resources ox the
City of Jefferson, Cole County, Missouri, are hereby irrevocably pledged.
This bond is one of a series of sixty (60) bonds of like date, tenor, and
effect, except as to number, rate of interest, and date of maturity, numbered from
One (1) to Sixty (60), both inclusive, agGreCating the sum of Three Hundred Fudousand
Dollars (300,000), being part of an authorized issue of Seven Hundred Thousand Dol-
lars ($700,000), issued by the City of Jefferson, Missouri, to provide funds for the
purchase of ground and the erection thereon of three (3) new fire stations, includ-
ing the purchase of apparatus useful in the extinguishing of fires, under authority
of the Constitution and Iaws of the State of Missouri and of an election duly called
and held izi said City on the 5th day of April, 1966, whereat more than two-thirds of
the votes cast were in favor of the issuance of this bond and of the issue of which
this bond is one, and by further authority of ordinances duly adopted by the City
Council of said City.
It is hereby certified and recited that all acts, conditions, and -things
required to be done, precedent to and in the issuance of this bond, have been done,
have happened, and have been performed in regular and due time, form, and manner,
AM as required by iww; that a direct, continuinZ annual tax upon all of the taxable,
tangible property in said City has been levied for the payment of the principal of and
the interest on this bond; and that the total indebtedness of said City, including
this bond and the issue of which it is one, does not exceed any statutory or consti-
tutional limit.
IP? TESTIMODTY Z-TIZMOF, the City of Jefferson, in the State of Missouri, has
executed this bond by causing it to be signed by the facsimile signature of the Mayor
of said City, under the seal of said City, attested by the manual signature of the
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City Clerk, and has caused the annexed Interest coupons to be executed by the facsi-
mile signature of said City Clerk, and this bond to be dated May 1, 1966.
CITY OF JEb . �RSON, MISSOURI
By
Mayor
Attest:
City Clerk
(FORM OF INTEREST COUPON)
No.
Aft
Mays
On the first day of November, 19 , the City of Jefferson, Cole County,
Missouri, promises to pay to bearer the amount shown on this coupon in lawful money
of the United States of America at the Central Missouri Trust Company, in Jefferson
City, Missouri, being interest due that date on its Fire Department Bond dated May 1,
1966, and numbered �.
CITY OF JEFFERSON, MISSOURI
By
City Clerk
Semi-annual interest, coupons attached to said bonds shall be payable in the
following amounts:
BOND NUMBERS AMOUIv"TS
1 to 3, Inclusive $ 93.75
4 to 20 " 100.00
21 to 24 95.00
25 to 60 "
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SECTION 3. That when the said bonds shall have been executed as hereinbe
fore directed, they shall be presented to the State Auditor of Missouri for registra-
tion, and each of said bonds shall have endorsed upon the reverse thereof a reUistra-
tion certificate of said State Auditor in substantially the following form, to-wit:
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STATs OF 14-LSSOU-n )
SS
C ITY OF 'Pzl% . , s )
I, HASXELL 1110U AN, State Auditor of 14i„sou:•i, do hereby cerk"ify that all
the conditions .of the haws of the State of Missouri have been complied with in the
issuance of the within bond, and that all the conditions of the contract under which
it was ordered to be issued have been complied with, and that the evidence thereof
is on file in my office; and I further certify that this bond has been duly registered
in my office in compliance with the Laws of the State of Missouri.
IN TESTIMOrIY SCI 'iEOF, I have hereunto set my hand and affixed the seal of
my office in the City of Jefferson, Missouri, this day of 1966.
State Auditor
By
Deputy State Auditor
SECTION 4. That, for the purpose of providing for the payment of the prin-
cipal of and the interest on said bonds as the same shall respectively mature and
accrue, there shall be and there is hereby levied a direct, continuing annual tax
upon all of the taxable, tangible property within the said City of Jefferson, suffi-
cient, after due allowance shall have been made for the ex-penses of collection and
delinquencies in the payment of taxes, to produce in each of the years 1966 to 1986,
inclusive, the following sums for principal and interest, respectively:
N THE YEAR FOR THE, YFAR FOR PRINCIPAL FOR IA . Mt EST TOTAL
1966 1966-1967 5,000 $ 16,980.00 $21,980.00
1967 1968 5,000 11,101.25 16,101.25
1968 1969 5,000 10,913.75 15,913-75
1969 1970 10,000 10,620.00 20,620.00
1970 1971 10,000 10,220.00 20,220.00
1971 1972 10,000 9,820.00 19,820.00
1972 1973 10,000 9,1+20.00 19,420.00
1973 1974 15,000 8,920.00 23,920.00
1974 1975 15,000 81320.00 23,320.00
1975 1976 15,000 7,720.00 22,720.00
1976 .1977 20,000 7,o4o.oo 27,0110-00
1977 1978 20,000 6,290.00 26,290.00
1978 1979 20,000 5,550.00 251550.00
1979 1980 20,000 4,810.oo 21+,810.o0 ,►
1980 1981 20,000 4,070.00 24,070.00
1981 1982 20,000 3,330.00 23,330.00
. ' , 1982 103 20,000 2,590.00 22,590.00
1983 1984 20,000 1,850.00 21,850.00
1981E 1985 20,000 1,110.00 21,110.00
1985 1986 20,000 370.00 20,370.00
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Provi•• ment �' thi: O.dinnticc shua.l uc made ai:::aa11 �n
..ion -to meet ,he :equir e c o� ✓
due tirro, manner, and season.
SECTION 5. That the said tar: shall be ex:tended upon. the tax ollc and col-
lected in the same manner and at the same ti>;ie as other City taxec are collected,
and the proceeds derived from the collection of such 'tax shall be credited to a
fund hereby created and designated the "mire Department Bonds of 1966 Interest
and Sinking Fund", and shall be used exclusively for the purpose herein required.
SECTION 6. That, in order to hake provision for the payment of interest
which will accrue on said bonds on November 1, 1966) and prior to the time when
the first tax herein provided for can be levied and collected, there shall be and
there is hereby appropriated out of -the Interest and Sinking Fund of said City �
the sum of *5,691.25, which said sum shall be restored to the aforesaid Fund out
of the first motleys collected on account of the tax herein levied.
SECTION 7. That the Mayor and the City Clerk are hereby authorized and
directed to cause the bonds herein described to be prepared and to execute the
same as herein provided, to cause the same to be registered in the office of the
State Auditor, and to deliver said bonds to the purchaser thereof in accordance
with the terms of sale and award.
SECTION 8. That the proceeds received upon sale and delivery of the bonds
herein authorized to be issued, immediately upon receipt thereof, shall be set
aside in a separate fund and shall be used solely and only for the purchase of
ground and the erection thereon of three (3) new fire stations, including the
purchase of apparatus useful in the extinguishing of fires.
The accrued interest and the premium -received upon sale and delivery of
the aforesaid bonds shall be deposited forthwith in and credited to the Fire De-
partment Bonds of 1966 Interest and Sinking Fund referred to in Section 5 of this
Ordulance.
SECTION 9. That the City Treasurer be and he is hereby authorized and
directed, without any further authorization or direction of the City Council, not
less than five (5) days prior to the accruing of semi-annual interest and to the
10.
maturity of the bonds herein directed to be issued, to remit to the Central Missouri
Trust Company, Jefferson City, Missouri, the amount of interest or principal, or both,
then becoming due, and the said Treasurer is hereby authorized and directed to include
with each such remittance the usual and customary -fee of said bank for its services
and responsibility in 'connection with the payment of said coupons and bonds and making
accounting therefor to the City of Jefferson.
SECTION 10. That the right shall be and hereby is reserved unto the City
of Jefferson hereafter' to issue the remaining Four Hundred Thousand Dollars ($400,000)
of the Seven Hundred Thousand Dollars (4"(00)000) of bonds authorized at the aforesaid
election, subject to the further orders and directions of the City Council of said
City.
SECTION 11. That all ordinances or parts of ordinances in conflict with
the provisions of this Ordinance shall be and the sane are hereby repealed, insofar
as they may so conflict, and this Ordinance shall be in force and effect from and
after its passage and approval.
Read three times and passed this day of attx-e,, , 1966.
Mayor and Presiding Officer
of the City Council
Attest:
City Clerk
sr
Approved this day of 4uiyt�¢/ , 1966.
Wor
"y. �YLd�iLZlG
Attest:
City Clerk
STATE OF 14ISSOURI )
SS
COUNTY OF CODE )
I, MARGARET CHRISTIAN, City Clerk within and for the City
of Jefferson, in the County of Cole, State of Missouri, do hereby
certify that the foregoing, pages constitute a true and correct
copy of Ordinance No. of said City, as passed by the City
Council of said City on the day of 1966, and
approved by the Mayor of said City on the day of ,
1966) as fully as the same appears and remains of record in my
office in Book of Ordinances No. , at pares to
inclusive.
IN•TESTIMONY �XM,OF, I have hereunto set my hand and.
affLted the seal of the City of Jefferson, Missouri, at my
office in said City, this day of 1966.
AUDL
City Clerk
f
(SEAL)
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