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HomeMy Public PortalAboutORD07933 mum ORDINANCE NO. , AN ORDINANCE DIRECTING THE ISSUANCE OF FIRE DEPARTMENT BONDS OF THE CITY OF JEFFERSON, COLE COUNTY, MISSOURIo IN THE PRINCIPAL AMOUNT OF FOUR HN DRED THOUSAND DOL- LARS ($400,000), BEING THE REIdAINDER OF AN ISSUE OF SEVEN HUNDRED THOUSAND DOLLARS ($700,000)2 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 AC- CRUES AND TO PAY THE 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 1d 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 'jW 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 Ordi- nance 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 n:.1i.cr to the first publication w � w said notice, and said newspaper having 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 tine; and WHEREAS) said notice was published in said newspaper once a week for four (4) 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; WHEREAS, the ballot used at said special election was in substantially the form set out in the aforesaid Ordinance No. 77+7; and WHEREAS, 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 election, 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 '4E,AS, this City Council, on the 19th day of April, 1966, did canvass the turns 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 ( +,753) votes, of which four thousand and fifty-four (4j054) votes were in favor of the aforesaid proposition and six hundred ninety-nine (699) votes urere against the aforesaid proposition; and WHEREAS, 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 Ak - 3 - WHEREAS, 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 1, 1965, and being the last completed assess- ment made prior to the 5th day of April, 1966, was Forty-three Million, Seven Hundred Five Thousand, Three Hundred Seventy-one Dollars ($43,705,371); and WHEREAS, 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 ($2,798,000), excluding in- dustrial bonds and revenue bonds; and WHEREAS, the aggregate amount of bonds authorized at said election, to-wit: even 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 Taws 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 WHEREAS, the City. Council has heretofore issued and delivered Three Hundred Thousand Dollars ($300,000) of bonds of the aforesaid authorized issue and, at the time of the issuance thereof reserved the right and authority thereafter to issue the , remaining Four Hundred Thousand Dollars ($400,000) of bonds of said authorized issue Seven Hundred Thousand Dollars ($700,000); and WHEREAS, the City Council has found and determined that it is advisable at this time to issue the remaining Four Hundred Thousand Dollars ($400,000) of bonds of the aforesaid authorized issue; and WHEREAS, pursuant to notice given as directed by the Council, bids for Four Hundred Thousand Dollars ($400,000) Fire Department Bonds, being the remainder of Seven Hundred Thousand Dollars ($700,000) of bonds authorized at the aforesaid special election held on the 5th day of April, 1966) were received on the 17th day of July, 1967, at which time the said bonds were awarded and sold to the highest and best bidder therefor; and - 4 � 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, State of Missouri, and that said bonds be issued' in the denomination of Five Thousand Dollars ($5,000) each; and WHEREAS, this Council does now find and determine that the aforesaid re- quests should be approved; and WHEREASr this Council does now find and determine that it is necessary and desirable at this time to direct the issuance of said bonds: NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF JEFFERSON, " LE COUNTY, MISSOURI, AS FOLLOWS: SECTION 1. That there are hereby authorized and ordered to be prepared and issued Four Hundred Thousand Dollars ($400,000) of Fire Department Bonds, being the remainder of an authorized issue of Seven Hundred Thousand Dollars ($700,000), 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 Eighty (80), inclusive; shall bear date of August 1, 1967; and shall bear interest from the date thereof at the rates per annum hereinafter set forth, payable November 11 ' 1967, and semi-annually thereafter on May,l and November 1 in each year until the rincipal 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 sa14 bonds. Both principal of and interest on said bonds shall be payable in lawful money of the i 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 caption of prior payment, in the amounts and at the times hereinafter set out, and all bear interest, as follows: - 5 - MATURITY 02ND NUMBERS RATE OF INTEREST AMOUNT imay 1 1 4% $ 5,000 1968 2 40A 5,000 1969 3 and 4 5% 10,000 '1970 5 and 6 5% 10,000 . 1971 7 to 92 incl. 5% 15,000 1972 10 to 12, " 3.80% 15,000 1973 13 to 15, " 3.801, 15,000 1974 16 to 192 3.8o% 20,000 1975 20 to 232 3.80%, ,20,000 1976 24 to 27, 3.8o% 20,000 1977 28 to 312 3.80% 20,000 1978 32 to 36, " 3.80% 25,000 1979 37 to 41, " 3.8o% 25,000 1980 42 to 46, " 3.80fo 25,000 1981 47 to 51, 3.8% 25,000 1882 2 to 56, " 3.8o% 25,000 1983 417 to 62, " 3.80% 30,000 1984 63 to 68, " 3-7/8% 30,000 1985 69 to 74, 3-7/8 30,000 1986 75 to 80, " 3�7/8� 30,000 1987 SECTION 2. That the said bonds and the interest, coupons evidencing the interest to accrue thereon shall be in substantially the following form, to-wit: UNITED STATES OF AMERICA STATE OF MISSOURI COUNTY OF COLE CITY OF JEFFERSON Alk FIRE DEPARTMENT BOND OF 1967 N0. $5x000 The City of Jefferson, Cole County, Missouri, acknowledges itself indebted and, for value received, hereby promises to pay to bearer the sum of FIVE THOUSAND DOLLLARS ($5,000) on the first day of May, 19 , with interest thereon from the date hereof at the rate of per centum (��o) per annum, payable November 1, 1967,. 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 r rior to-the maturity date hereof shall be payable upon presentation and surrender of e 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 hereon as and when the same matures and accrues, the full faith, credit, and resources of the City-of Jefferson, Cole County, Missouri, are hereby irrevocably pledged. This bond is one of a series of eighty.(80) .bonds of like date, tenor, and effect, except as to number, rate of interest, and date of maturity, numbered from One (1) to Eighty (80), both inclusive, aggregating the sum of Four Hundred Thousand Dollars ($400,000), being the remainder of an authorized issue of Seven Hundred Thou- and Dollars ($704,000), issued by the City of Jefferson, Missouri., to provide funds %or 'the of round and the erection thereon of three new fire stations Purchase g (3) , including the purchase of apparatus useful in the extinguishing of fires, under author- ity of the Constitution and Laws of the State of Missouri and of an election duly called and held in 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 Coun- cil 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, as 40quired by law; that a direct, continuing annual tax upon all of the taxable, tangible property in said City has been levied for the payment of the principal of and the in- terest 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 constitutional lim- it. IN TESTIMONY WHEMP, 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 - 7 - City Clerk, and has caused the annexed interest coupons to be executed by the fac- simile signature of said City Clerk, and this bond to be dated August 1, 1967- CITY OF JEFFERSON, MISSOURI BY Mayor Attest: City Clerk (FORM OF INTEREST COUPON) gn • $ 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 of 1967, dated .August 1, 1967, and numbered CITY OF JEFFERSON, MISSOURI BY City Clerk Interest coupons to be attached to said bonds shall be payable in the fol- wing amounts: COUPON DUE SUBSEQUENT SEMI- BOND NUMBERS NOVEMBER 1, 1967 ANNUAL COUPONS 1 and 2 $50.00 $100.00 3 to 9, incl. 62.50 125.00 ti . , ` 10 to 62, 47.50 95.00 63 to 80, " 48.44 96.88 (May 1) 96.87 (November 1) r' SECTION 3. That when the said bonds shall have been executed as herein- before 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 registra- tion certificate of said State Auditor in substantially the follovring form, to-wit: - 8 - STATE OF MISSOURI ) , ss. CITY OF JEFFERSON ) 1 HASKELL HOLMAN, State Auditor of Missouri, do hereby certify that all the conditions of the Laws 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 en file in my office; and I further certify that this bond has been duly registered in may office in compliance with the Laws of the State of Missouri. IN TESTINONY WHEREOF, I have hereunto set my hand and affixed the seal of office in the City of Jefferson, Missouri, this day of , 1967. State Auditor By. Deputy State Auditor SECTION 4. That, for the purpose of providing far 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,* su£- ficient, after due allowance shall have been made for the expenses of collection and delinquencies in the payment of taxes, to produce in each of the years 1967 to 1987; Oclusive, the following sums for principal and interest, respectively: YEAR OF LEVY FOR THE. YEAR FOR PRINCIPAL FOR INTEREST TOTAL 1967 1967-1968 $ 5,000 $ 19,534.42 24,534.42 1968 1969 5,000 15,407.50 n-o,407.50 1969 1970 10,000 15,057-50 25,057.50 1970 1971- 10,000 14,557.50 24,557.50 1971 1972 15,000 13,932.50 28,932.50 1972 1973 15,000 13,272.50 28,272.50 1973 1974 15,000 12,702.50 27,702.50 1974 1975 20,000 12,037.50 32,037.50 1975 1976 20,000 11,277.50 31,277.50 3.976 1977 20,000 10,517.50 30,517.50 1977 1978 20,000 9,757.50 29,757.50 1978 1979 25,000 8,9o2.50 33,902.50 1979 1980 25,000 7,952.50 32,952.50 . 1980 1981 25,000 7,002.50 32,002.50 1981 1982 25,000 6,052.50 31,052.50 1982 1983 25,000 5,102.50 302102.50 1983 1984 30,000 4,057.50 34,057.50 1.984 1985 30,000 2,906.28 32,906.28 1985 1986 30,000 1,743.78 31,743.78 1986 1987 30,000 581.28 30,581.28 .' 9 ovision meet the requirements of this Ordinance. shall be made annually in due time, manner, and season. SECTION 5. That the said tax shall be extended upon the tax rolls and col- lected in the same manner and at the same time as other city taxes are collected, and , the proceeds derived from*the collection of such tax shall be credited to a fund here- by created and designated the "Fire Department Bonds of 1967 Interest and Sinking Fund," and shall be used exclusively for the purpose herein required. SECTION 6. That, in order to make provision for the payment of interest which will accrue on said bonds on November 1, 167, and prior to the time when the first tax herein provided for can be levied and collected, there shall be and there is Seby appropriated out of the Interest and Sinking Fund of said City the sum of $3,926.922 which said sum shall be restored to the aforesaid Fund out of the first moneys 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 $. That the proceeds received upon sale and delivery of the bonds herein authorized to be issued, immediately upon receipt thereof, shall be set aside 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 appara- tus useful in the extinguishing of fires. Accrued interest and premium, if any, received upon sale and delivery of the aforesaid bonds shall be deposited forthwith in and credited to the Fire Department Bonds of 1967 Interest and Sinking Fund referred to in Section 5 of this Ordinance. 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 interest and to the maturity of the - 10 - 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 becom- ing 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 all ordinances or parts of ordinances in conflict with the provisions of this Ordinance shall be and the same are hereby repealed, insofar as they may so conflict, and this Ordinance sha11 be in force and effect from and, er its passage and approval. Read three tames and passed this day of , 1967. aW A I It . • yor and Presiding Officer__(j_ of the City Council Attest: ity Clerk Approved this day of 1967. ASM Mayor Attest: City Clerk i` J .