HomeMy Public PortalAboutORD07897 BILL NO. doom
INTRODUCED.BY COUNCILMAN Stone
ORDINANCE NO.. q;?22_
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI AMENDING ORDINANCE NO. 7772 OF
THE CITY REGULATING RESTAURANTS AND OTHER PLACES WHERE FOOD AND BEVERAGES ARE
SERVED BY REPEALING SECTION 12 THEREOF RELATING TO THE EFFECTIVE DATE OF SAID
ORDINANCE AND ENACTING A NEW SECTION 12 RELATING TO THE SAME SUBJECT.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JEFFERSON, MISSOURI AS FOLLOWS:
Section 1. Repeal Clause. Section 12 of Ordinance No. 7772 regulating
the inspection of restaurants and other places where food and beverages are
served be, and the same, hereby is repealed.
Section 2. There is hereby enacted a new provision to be known as Section
12 of Ordinance No. 7772 which shall read in words and figures as follows:
"Ordinance No. 7772
Section 12. Date of Effect. This ordinance shall be in full
force and effect as of January 1, 1968 from and after its passage
and approval."
Section 3. Effective Date. This ordinance shall take effect and be in
force from and after its passage and approval.
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PASSED:. r APPROVED:
jz
VTR OF THE(r CIL MAYOR
ATTEST:
C CLERK
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�i (Introduced By :
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it BILL N0. fir' ORDINANCE N0. _Z9�r
TI 8 13(A) 16 AND 17 OF
_ AN ORDINANCE AMENDING SECTIONS 1 3 5 9
j ORDINANCE NO. 7807 OF THE CITY OF JEFFERSON, MISSOURI, PASSED AND
APPROVED JULY 18 , 1966 , AUTHORIZING THE CITY OF JEFFERSON, MISSOURI,
TO ISSUE THE INDUSTRIAL REVENUE BONDS, SERIES OF 1966, OF SAID CITY
IN THE AMOUNT OF $8,500,000 FOR THE PURPOSE OF PURCHASING AND CONSTRUCTIN
AN INDUSTRIAL PLANT TO BE LEASED TO INTERCO INCORPORATED, A DELAWARE
! CORPORATION, FOR MANUFACTURING AND INDUSTRIAL DEVELOPMENT PURPOSES,
` INCLUDING REAL ESTATE, BUILDINGS, FIXTURES AND MACHINERY, SAID BONDS TO
f BE PAYABLE SOLELY FROM THE REVENUES DERIVED FROM SAID PROJECT FOR
Ij INDUSTRIAL DEVELOPMENT AND NOT TO BE A GENERAL OBLIGA'T'ION OF SAID
CITY, AUTHORIZING THE PURCHASE AND CONSTRUCTION OF SAID PROJECT AND
(PRESCRIBING THE FORM OF AND AUTHORIZING THE EXECUTION OF A LEASE BY
�I AND BETWEEN SAID CITY AND SAID COMPANY) PRESCRIBING THE FORM OF AND
AUTHORIZING THE EXECUTION OF A LEASE BETWEEN SAID CITY AND SAID
j COMPANY AND REPEALING SAID SECTIONS 1, 3, 5, 8, 9, 13(A) , 16 AND 17
!r OF SAID ORDINANCE NO. 7807 AS ORIGINALLY ENACTED.
it WHEREAS, the City Council of the City of Jefferson, Missouri,
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duly adopted Ordinance No. 7807 on July 18, 1966, which Ordinance
authorized the issuance of $8 ,500 ,000 principal amount of Industrial
Revenue Bonds , Series of 1966 , dated .July 1, 1966 , and
WHEREAS, the issuance and delivery of said bonds has been
delayed by litigation which has now been concluded and in which the
Supreme Court of Missouri has rendered an opinion upholding the
ii validity of said bonds and the Lease by and between said City and
1; Interco Incorporated dated July 1, 1966, hereinafter referred to
j authorized by said Ordinance No. 7807, and
WHEREAS, because of said delay it is necessary to change
i various details relating to said bonds and said Lease,
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NOW THEREFORE, BE IT ORDAINED' BY THE CITY COUNCIL OF THE
CITY OF JEFFERSON, MISSOURI , AS FOLLOWS :
! Section 1. That Section 1 of Ordinance No. 7807 of the City
of Jefferson, Missouri, passed and approved July 18, 1966, said ordinance,
authorizing the issuance of the Industrial Revenue Bonds, Series of
�! 1966 , of said City in the amount of $8,500,000 for the purpose of pur-
chasing and constructing an industrial plant to be leased to Interco
Incorporated, a Delaware corporation, for manufacturing and industrial
jdevelopment purposes be and the same is hereby amended to read as
)} follows: +
E� "Section 1. That the City of Jefferson.,
Missouri , is hereby authorized to purchase and
construct an industrial plant to be leased to
Interco Incorporated, a Delaware corporation, for
manufacturing and industrial development purposes ,
including real estate , buildings , fixtures and `
i machinery , on the real estate described in Schedule 1
attached hereto, together with all buildings and
improvements and machinery and equipment, con-
structed or located thereon pursuant to the provisions
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of Article IV of the Lease herein authorized, said
real estate being hereinafter, referred 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 the Lease dated
June 1 , 1967 , between said City and Interco Incor-
porated, hereinafter sometimes referred to as the
"Lease" , a copy of said Lease being attached hereto
and marked Exhibit "A" , as provided in Section 16
of this ordinance. "
Section 2 . That Section 3 of said Ordinance No. 7807 be , and
the same is hereby amended to read as follows :
"Section 3. That said issue of Industrial
Revenue Bonds , Series of 1966 , of the City of
Jefferson, Missouri , shall consist of 1,700 bonds
numbered from 1 to 1700, inclusive, each of said
bonds being in the denomination of $5 ,000. All
of said bonds shall be dated July 1, 1966, and
shall be numbered, shall become due serially on
July 1 in each year and shall bear interest as
follows :
MATURITY INTEREST
NUMBERS AMOUNT JULY. 1 RATE
1 - 4o $200, 000 1968 4 3/4%
s 41 —* 81 205,000 1969 4 3/40
j} 82 -124 215,000 1970 4 3/40
125 -169 225,000 1971 4 3/40
170 -217 240,000 1972 4 3/40
218 —267 250,000 1973 4 3/4%
268 —319 260,000 1974 4. 3/4%
320 —374 275,000 1975 4 3/40
375 —431 285,000 1976 4 3/40
i 432 —491 300,000 1977 4 3/4%
492 —554 315,000 . 1978 4 3/4%
555 —620 330,000 1979 4 3/40
621 —689 345 ,000 1980 4 3/4%
AM 690 —761 360, 000 1981 4 3/4%
762 —837 380,000 1982 4 3/4%
838 —916 395,000 1983 4 3/40
917 —999 415,000 1984 4 3/4%
1000 —1086 435 ,000 1985 4 3/40
` 1087 —1177 455,000 1986 4 3/4%
1178 —1272 475 ,000 1987 4 3/40
1273 —1372 500,000 1988 4 3/4%
( 1373 —1477 525,000 1989 4 3/4%
1478 —1587 550,000 1990 4 3/40
1588 —1700 565 ,000 1991 4 3/4%
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Said Bonds shall bear interest from June 1 ,
1967 ' payable January 1 , 1968 and thereafter
i semiannually on July 1 and January 1 in each
year.
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Each of said Bonds numbered 1 to 1700 ,
inclusive , shall be subject to redemption and
payment at any time upon either of the following con-
ditions or events : (1) if title to , or the use
for a limited period of, substantially all of the
i 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 at any time prior to their ultimate
li maturity at the par value thereof, plus accrued
i interest thereon to date fixed for redemption and
+� payment , together with a premium which shall be
equal to three per cent (3%) of the principal amount
of the Bonds so redeemed and paid, provided all of
such bonds are redeemed and paid according to their
terms .
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Each of said Bonds numbered 492 through 1700,
! inclusive , shall be subject to redemption and
payment in whole or in part at the option of the
City , in inverse order of maturity (less than all of
the Bonds of a single maturity to be selected by
lot in such manner as may be designated by the City) ,
on July 1, 1977, or on any interest payment date
thereafter, at the par value thereof together with
accrued interest thereon to date of redemption and
payment , together with a premium which shall be three
f! per cent (3%) of the principal amount of any bond
li redeemed on July 1, 1977 , and which premium shall
s; thereafter be reduced by one quarter of one per cent
(� (1/4 of 1%) of the principal amount of any bond so
redeemed for each full year between July 1, 1977, and
the date of redemption and payment , but bonds called
{ for redemption and payment on July 1, 1989, or on
any interest payment date thereafter, shall be sub-
ject to redemption and payment at the par value
thereof together with accrued interest thereon to
date of redemption and payment, without premium.
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
i 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 numbers of the Bonds to be redeemed and paid.
Notice of any such redemption shall also be
published once not less than 30 days or more than
90 days prior to the date fixed for redemption
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in some financial journal published and of
general circulation in New York, New York.
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 shall be payable in lawful
money of the United States of America at either
the principal office of The Chase Manhattan Bank,
National Association, in the City of New York,
New York, or Mercantile Trust Company, National
Association, in the City of St . Louis , Missouri. "
Section 3. That Section 5 of said Ordinance No. 7807 be , and
the same is hereby amended to read as follows :
"Section 5. Each of said Bonds and the
interest coupons attached 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 1966
ii KNOW ALL MEN BY THESE PRESENTS: That the City
4 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 July, 19_, and to pay interest
thereon from June 1, 1967 at the rate of four and
three-quarters per cent (4 3/4%) per annum, payable
January 1, 1968, and thereafter semiannually on
July 1 and January 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 either the principal office of The Chase
Manhattan Bank, National Association, in the City
of New York, New York, or Mercantile Trust Company ,
National Association, in the City of St . Louis,
Missouri.
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This Bond is one of an authorized series
of 1700 Bonds of like date and tenor, except as
to number, privilege of redemption and maturity
aggregating the principal amount of $8,500,000,
numbered from 1 to 1700 , inclusive , authorized
' by ordinance of said City for the purpose of
purchasing and constructing an industrial plant
to be leased to Interco Incorporated, a Delaware
corporation, for manufacturing and industrial
development purposes , including real estate, buildings ,
fixtures and machinery , said plant and the real estate
on which the same is situated being sometimes herein--
after 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 , 1965 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 June 14 ,
1966, 'and to ordinances duly passed and proceedings
duly had by the City Council of the City of Jefferson,
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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 Interco Incor-
porated, a Delaware corporation, dated June 1, 1967 ,
` 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
t which this Bond is one, and to 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 at any time 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
C 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 and payment at
the par value thereof plus accrued interest thereon to
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date of redemption together with a premium of
three per cent (3%1 of the principal amount of the
Bonds so called for redemption and payment, provided
all of said Bonds are redeemed and paid according
�1 to their terms.
Each of the Bonds of the series of which this
Bond is one maturing in the years 1978 to 1991 ,
inclusive , is subject to redemption and payment at
the option of said City in whole or in part, in
inverse order of maturity (less than all of such
Bonds of a single maturity to be selected by lot
in such manner as may be designated by the City) on
i July 1, 1977 , or on any interest payment date
thereafter, at the par value thereof together with
accrued interest thereon to date of redemption
and payment, together with a premium which shall
be three per cent (3%) of the principal amount of
any bond redeemed on July 1, 1977 , and which premium
shall thereafter be reduced by one quarter of one per
( cent (1/4 of 1%) of the principal amount of any
bond so redeemed for -each full year between July 1,
1977 , and the date of redemption and payment, but
bonds cared for redemption and payment on July 1,
1989, or on any interest payment date thereafter,
shall be subject to redemption and payment at the
par value 'thereof together with accrued interest
thereon to date of redemption and payment , without
premium.
Notice of the City ' s intention to redeem and
pay said Bonds pursuant to any of the redemption
provisions aforesaid, specifying the numbers cf the
Bonds to be redeemed and paid, shall be given by
E United States registered mail to The Chase Manhattan
Bank, National Association, in the City of New York,
( New York, and Mercantile Trust Company , National
# Association, in the City of St. Louis , Missouri,
not less than 30 days prior to the date fixed for
3 redemption and payment . Notice of any such redemption
shall also be published once not less than 30 days
i or more than 90 days prior to the date fixed for
redemption in some financial journal published and
�i of general circulation in New York, New York.
ii It is hereby declared and certified that all
{� acts, conditions and things required to be done
and to exist precedent to and in the issuance of
this Bond, and of the issue of .which this Bond is
f` 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 signa-
ture 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 July, 1966.
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(facsimile)
Mayor
ATTEST:
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1 City Clerk
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(FORM OF COUPON NO. 1 DUE JANUARY 1, 1968)
Coupon No. 1 $138. 54
On the First day of January , 1968, unless
the bond, to which this coupon is attached be called
for redemption and payment duly made or provided
! for, the City of Jefferson, Missouri, will pay
to bearer solely from the revenues received
?, from the rents and revenues derived from the
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Project described in the Bond to which this
+ coupon is attached, and not from any other
i� fund or source, One Hundred Thirty Eight and
Fifty Four One Hundredths Dollars in lawful
money of the United States of America at either
+� the principal office of The Chase Manhattan
Ei Bank, National Association, in the City of
!� New York, New York, or Mercantile Trust Company ,
National Association, in the City of St. Louis ,
�t Missouri, being interest due on that date from
June 1, 1967, on its Industrial Revenue Bond,
Series of 1966, dated July 1, 1966 , No.
(facsimile)
Mayor )
ATTEST:
(facsimile)
j City Clerk
j (FORM OF COUPON FOR REMAINING BONDS)
Coupon No. $11.8. 75
January
On the First day of July, 19__, unless the
bond to which this coupon is attached be called
for redemption and payment duly made or provided
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for, the City of Jefferson, Missouri , will
pay to bearer solely from the revenues received
from the rents and revenues derived from the
i� Project described in the Bond to which this
coupon is attached and not from any other fund
or source , One Hundred Eighteen and Seventy Five One Hun-
dredths Dollars in lawful money of the United States
of America at either the principal office of The
Chase Manhattan Bank, National Association, in the
i City of New York, New York, or Mercantile Trust
Company, National Association, in the City of St.
Louis, Missouri, being interest due on that date on
its Industrial Revenue Bond, Series of 1966 , dated
July 1, 1966 , No.
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Mayor
ATTEST.
(facsimile)
)
City Clerk
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Section 4. That Section 8 of said Ordinance No. 7807 be,
$ and the same is hereby amended to read as follows :
( "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 January 1 and July 1,
1968, 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 (Interco
( Incorporated Project) , Series of 1966, dated July 1,
1966 , hereinafter created. "
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�i Section 5 . That Section 9 of said Ordinance No. 7807 be ,
and the same is hereby amended to read as follows :
{ 'Section 9. The Fiscal Agent shall make
disbursements from said Construction Fund for
the completion of the Project in accordance
�i with the terms and provisions of the Lease dated
+ June 1, 1967, between said City and Interco
Incorporated, 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 6 . That paragraph (A) of Section 13 of said Ordinance
No. 7807 be, and the same is hereby amended to read as follows :
( "Section 13(A) . The City will comply fully
with all the terms , provisions , and conditions of the
I 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
j; 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 Interco Incorporated, and in the event of the
occurrence of a default , as defined in the Lease ,
fi will exercise all rights , remedies conferred by the
Lease and the laws of the State of Missourifor the
R full and complete protection of the security and
1 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
'f in amount to make the rental payments and other
charges which Interco Incorporated is required to make
under the Lease dated June 1, 1967, and will deposit
' the same in the Principal and Interest Account. If
{ the City is unable to procure a new tenant who will
ji enter into such a lease , the City may, if at the time
® permitted by law, sell the Project at a price
which shall be not less than the, amount of then
;J outstanding Revenue Bonds plus interest then unpaid."
{i Section 7. That Section 16 of said Ordinance No. 7807 be, and
the same is hereby amended to read as follows :
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"Section 16. That the tract of land
hereinbefore referred to in Section 1 of this
!; Ordinance and the improvements and equipment to
be acquired, installed and constructed thereon,
pursuant thereto and to said Lease, shall be leased
to Interco Incorporated under and pursuant to
the Lease dated June 1, 1967, 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. "
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Section 8. That Section 17 of said Ordinance No . 7807 be,
j and the same is hereby amended to read as follows :
"Section 17. If any one or more of the
covenants , agreements or provisions of this
ordinance or of said Lease dated June 1, 1967 ,
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, agree-
ments 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. "
Section 9. That said issue of $8,500,000 principal amount of
Industrial Revenue Bonds , Series of 1966 , of the City of Jefferson,
Missouri, authorized by Ordinance No. 7807, as hereby amended and
the interest coupons to be annexed thereto, shall be printed, executed
and delivered in the form herein specified.
i Section 10. That Sections 1, 3, 5, 8, 9, 13(A) , 16 and 17
of said Ordinance No. 7807 of the City of Jefferson, Missouri, be, and
the same are hereby repealed and rescinded.
Section ll. 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 May, 1967.
ATTEST: Mayor
C3,7y Clerk -
APPROVED by the Mayor this day of May, 196 .
1 Mayor
ATTEST:
C y Clerk
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