HomeMy Public PortalAboutORD05734 304
ORDINANCE NO. 5724
AN ORDINANCE DIRECTING THE ISSUANCE OF STREET IMPROVE-
MENT BONDS OF THE CITY OF JEFFERS) N, COLE COUNTY, Tr1IS-
SOURI, IN THE PRINCIPAL AMOUNT OF ONE HUNDRED THOUSAND
DOLLARS ($100,000) TO PROVIDE RIGHT OF WAYS FOR AND TO
CREATE, OPEN, AND IMPROVE PUBLIC STREETS IN CONNECTION
WITIi THE BRIDGE NOW IN COURSE OF COSTRUCTION OVER THE
MISSOURI RIVER AT JEFFERSON CITY, AUTHORIZED AT A SEE-
CIAL ELECTION 'HELD IN SAID CITY ON THE 15th DAY OF
SEPTE14BERa 1953; SETTING OUT THE FORM OP SAI'.) BONDS A4, D
THE INTEREST COUPONS TO BE ATTACHED THERETO, DETERMIN-
ING THE RATE OF INTEREST, TvATURITIES, AND PLACE OF PAY-
MENT THEREOF, AND PROVIDING FOR THE LEVY OF AN ANNUAL
TAX XUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT
ACCRUES AND TO PAY THE PRINCDRAL THEREOF AT MATURITY.
WHEREAS9 the City Council of the City of Jefferann, Cole
County, t,I, ssouri, by Ordinance Noe 5691 duly and regularly
adopted at a meeting of said City Council held on the3rd
day of August, 1953, and approved by the Mayor of said City on
the 3rd day of August, 1953, did direct that at a special
e7e ctidn to be held in said City on Tuesday, the 15th day of
September, 1953, there be submitted to the qualified electors
of said City the following proposition:
i PROPOSITION NO. 1
"proposition to issue the bonds of the City of Jefferson,
ole County, Missouri, to the amount of One Hundred Thou.-
`�_'9in.d'•.Dollars (0100.,090) to provide right of.:ways for and
to create, open,and improve public streets in connection
with the bridge now in course of construction over the
Missouri Giver at Jefferson City."
and
WIDIREAS, said ordinance died direct that the aforesaid
election be held in -the several wards and in the precincts
and at the polling places designated thereby; and
WH11.-;REAS.9 due and regular notice of the aforesaid special
election was given as directed by said ordinance and as required
by law, by publication in the Daily Capital News on August 20,
27, and September 3 and 10 , 1953, and by publi-
cation in the Post-Tribune on August 20 & 27 and September & 10,
1953; said Daily Capital News and said Pest-Tribune being daily
newspapers published and of general circulation in said City of
Jefferson,and said newspaper having been previously admitted to
the Post Office in said City as second class matter and having
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been published regularly and consecutively for a period of more
than three (3) years prior to the first publication of said
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notice in. oach of said newspapers, fuid said newspaper, respectivcll „
having a list of bona fide subscribers voluntarily engagred as such �
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who have paid or agreed to pay a stated price for subscription the eto
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for a definite period of tame ; and
WHEREAS, said notice published is each of said newspapers
once a week for f our (It) consecutive weeks prior to the date of sa Id
election, the first of said. publications in e ach of paid newspaper,
having occured at least twenty-one (21) days before *nd the last
publication within two (2) weeks of the date of said election; and
WH.:REAS., this City Council did appoint d'udges and clerks of S
said special election an d did make provision for the use bdereat o
ballots in the form provided by law; and
WHEREAS, the ballot used at said special election was in su -
stantially the form as set out in the aforesaid Qrdinm ce No-5621 •
and
WHEREAS, the said election was duly and regularly held in all
respects as required by the Statutes of Missouri; and
WHEREAS, the judges and clerks of said election, on the 15t
day of September, 1953s. did make out, certify, and ,bran snit to thi
City Cd.uncil, through the City Clerk, the returns of said election
and
WHEREAS' said City Clerk, on the 21st day of September
1953, did transmit said returns of said election to this 11ity
Council; and
WHEREASo this City Council, on the 21st day of ..September
1953, did canvass the returns and did then find and determine and
does now again find and deteri;iine that ther was c ast on the afore-
said Proposition Noe 1 an aggregate of Four Thousand Two Hunddired
Sixteen (! 216 ) votes, of which Three Thousand Two Hund ed
SiAty Nine ( 3269 ) votes were cast in favor of the afore-
said proposition m d Nine Hundred Forty Seven ( 947 ) votes
were cast against the aforesaid proposition, and that said propos i
tion was, therefore, assented to by a majority of riore than two-
thirds of the qulaified electors of said City voting at said elecc• ' .
tion onsaid proposition; and
WHEREAS' the assessed valuation of taxable tangible proper
within the corporate limits of the City of Jeffers) n, as ascertai l d
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Fi�'•
by the assessment for state and county purposes Made as of January
195?, and being the last completed assessment made prior to the 15t
day of September, 1953, was Twenty-two i:°illion Seven Hundred Seventy-I'(
fourThousand, k'our Hundred Sixty-eight Dollars (,$22,774.468:.-; and
WHEREAS' the City of Jefferson, Missouri, on the date of said
election, to-wit: on the 15th day of September, 1953, had outstand-
ing bonded indebtedness in the principal amount of Seven hundred
Three Thousand Dollars ($ 703,000) ; and on said date had no other in-
debtedness outstanding, either bonded or floating; and
IMREASP the amount of bonds authorized at said election under
the aforesaid Proposition Noe 11 to-wit: One Hundred Thousand Doll-
ars ($6100,000) to provide right of ways for and to createT open, an
improve public streets in connection with the bridge now in course
of construction over the Missouri hiver at Jefferson City, and the
amount of bonds authorized at said election under Proposition No. 2
submitted thereat, to-wit: One Hundred `thousand Dollars ($100,000) ,
to provide funds for the purpose of extending m d improving the fac-
ilities at the municiAal airport of said City known as the Jefferso
City Memorial Airport, together with all cpther indebtedness of said
City, did not on said 15th day of September, 1953, and does not now
exceed any limit of indebtedness under the Constitution and Laws of
the State of Missouri; and
WHEREAS, the City Council of Jefferson is now authorized to
+ issue bonds of said City in tha amount of One Hundred Thousand
Dollars (100,000) to provide right of ways for and to create, open
and improve public streets im connection with the bridge now in
course of construction over the 11issouri River at Jefferson City;
and
WHEREAS, said City Council is now desirous of *q-xking provisi n
for the issuance of said bonds:
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI, AS FOLLOWS:
SECTION 1. That there are hereby authorized and ordered to
prepared and issued, bonds of the City of Jefferson, Missouri, in e
amount of One Hundred Thousand Dollars ($6100,000) to provide right
of ways for and to create, open and improve public streets in con-
nection with the bridge now in course of construction over the
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Missouri River at Jefforson, City. Said bonds shall be of the denom -
nation of One Thousand Dollars 01,000) each; shall be numbered fr m
One (1) to One Hundred (100) , both inclusive; shall bear date of
November 1, 1953; and shall bear interest at the rate of two per
centum (%) per annum, payable semi-annually on May *1 , and November
in each year until the principal of said bonds, respectively, shall
have been fully paid. Interest accruing 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. ° th
principal of and interest on said bonds shall be payable in law-
ful money of the United States of America at the St. Louis Union
Trust Company, in the City of St. Loi.iisji State of Missouri. '`he
said bonds shall be executed by the signature of the Mayor of sail
City, under the seal of bhld City, attested by the 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 amouhts and at the times hereinafter set obit, as follows:
BOND NUMBERS AMOUNT MATURITY
1 and 9 ¢ 2,000 May 1, 1955
3 and 4 29000 May 11 1956
5 and 6 2;000 May 1, 1957
7 and 8 2,000 May 1, 1958
9 and 10 2,000 May 1, 1959
11 and 12 2,000 May 1, 1960
13 and 14 219000 May 1, 1961
15 and 16 29000 May 19 1962
17 and 18 2,000 May 19 1963
19 and 20 29000 May 1, 1964
21 and 22 2,000 May 1, 1965
23 and 24 20000 May 1, 1966,:
25 and 26 2,000 Way 1, 1967
27 bo;;46, incl. 20,000 May 1, 1968
47 to 100, ". 541000 May 1, 1D69.-
SECTION 2. That the said bonds and the interest coupons ev -
dencing the interest to accrue ther.eo r shall be in substantially he
following form, to-wit:
UNITED STATES OF AMERICA
STATE OF MISSOURI
COUNTY OF COLE f
CITY OF JEFFERSON
2% i
STREET IMPROVEMENT BOND
NO. $19000.00
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The City of Jefferson, Cole County, Missouri , acknowlddres
itself indebted and, for value received, hereby promises to pay to
bearer the sum of
ONE THOUSAND DOLLARS
($1,000.00) on -the first day of G,ay, la... , with interest thereon
from the date hereof at the rate of two )or centum (2%) per annum,
payable semi-annually 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 naturity date hereof shall be payable I
upon presentation and surrender of the attached coupons as they
severally become due.
Both principal of and interest on this bond are payable in
lawful moneY of the United States of America at the St. Louis Union
Trust company, in the Uitynof St. Louis, State of Missouri , and for
the prompt payemnt of this bond end the interest thereon as and
when the same matures andaccrues, the full faith, vredit, and re-
sources of the City of Jefferson, Cole county, Yi-ssouri , are hereby
irrevocably pledged.
This bond is one of a series of one hundred (100) bonds of li e
date, tenor, and effect, except as to number and date of maturity,
numbered from One (1 ) to One Hundred (100) , inclusive, aggregating
he sum of One Hundred Thousand Dollars ($1009000) , issued by the
Pity of Jefferson, Missouri , to provide right of ways for and to
reate, open, and improve public streets in connection with the
ridge now in course of construction over the Vissouri River at
efferson City, under authority of the Constitution and Statutes of
he State of Y. ssouri and of an election duly called and held in sai
ity on the 15th day of September, 1953, whereat more than two-
birds of the votes cast were in favor of the issuance of this bond
nd of the issue of which this bond is one, and by further authority
f ordinances duly adopted by the City Council of said Uity.
It is hereby certified and recited that all acts, conditions,
nd things required to be done, precedent to and in the issuance of ! '
his bond, have been done, have happened, and have been performed
n regular and due time, form, and manner, as required by law; that
direct continuing annual tax upon all of the taxable tangible pro
arty in said City has been levied for the payment of the principal of
nd the interest on this bond; and that the total indebtedness of
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said City, including this band and the issue of which it is one, XXXXXMI
does not exceed any statutory or constitutional limit.
IN TESTIMONY WHEREOF, the City of Jefferson, in the State
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Missouri, has executed this bond by causing it to be signed by th
Mayor of said Oity, under the seal of said City, attested by the
City Clerl, anddihas caused the annexed interest coupons to be executed
by the facsimile signature of said City Clerk, which signature t 'e
said City Clerk, by the execution of this bond, adopts as and for his
own proper signature, and this bond to be dated November 1, 1953.
CITY OF JEFFERSON, Y.ISSOUFI..
BY
Attest: MAYOR
City Clerk
(FOPM OF INTEREST COUPONS TO BE
ATTACHED TO ALL BONDS)
NO. $10.00
M
On the first day of November, 19 , the City of Jeffers n,
Cole County, Missouri, promises ,to pay to bearer Ten Dollars ($10. 00) max
in lawful money of the United States of America at the St. Louis (
Union Trust Company, in the City of St. Louis, State of Missouri ,
being interest due that date on its Street Improvement Bond dated
November 1, 1953, and numbered
CITY OF JEFFERSON,
MISSOURI,
BY
9-i—ty Clerk
SECTICN 3. That when the said bonds shall have been execut( d as
hereinbefore directed, they shall be presented to the State Audit r
of Missouri for registration, and each of said bonds shall have e -
dorsed upon thereverse thereof a registration certificate of said
State &uditor in substantially the following form, to-wit:
STATE OF MISSOURI )
) ss.
CITY OF JEFFERSON*?
I, Haskell Holman, State Auditor of Missouri, do hereby
certify that all the conditions of the Laws of the State of Miss-
ouri 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 eviden e
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thereof is on file in ity 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 TESTIMONY WHEREOF, I have hereunto set my hand and affixe
the seal of my office in the City of Jeffersonm Missouri, this_______
day of , 1953.
State Auditor
By
Chief Clerk
SECTION 4. That for the purpose of providing fort he payment
of the principal of and the interest on s aid 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 said City of Jefferson, sufficient, 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 1954 to 1969, inclusive, the following stuns for principa
and interest, respectively;
YEAR OF LEVY FOR THE YEAR FOR PRINCIPAL FOR INTEREST TOTAL
1954 1954-1955 $2,000 3,980 $59980
1955 1956 2.4000 1,94 0. 3,940
1956 1957 2,000 1, 900 3, 900
1957 1958 20000 1,860 3,860
1958 1959 2,000 19820 3,820
1959 1.960 2,000 1,780 3,780
1960 1961 2,000 1,740 3,740
1961 1962 21000 11700 3,700
1962 1963 2,000 1,660 3,660
1963 1964 29000 1,620 3,620
1964 1965 29000 1$ 80 3,580
1965 1966 2,000 1,540 3,540
1966 1967 2,000 1$ 00 3,500
1967 1968 20,000 1,280 21.i280
1968 1969 54,000 540 54,640 '
And provision to meet the requTtements of this ordinance shall be
in due time, manner and season annually be made.
SECTION 5. That the said tax shall be extended upon the tax
rolls and collected in the same manner and at the same time as oth r
city taxes are collected, and the proceeds derived from the collet
tion of such tax shall be credited to a fund hereby created and
designated "STreet Improvement Bonds Interest and Sinking Fund o:R
1953, " and shall be used exclusively for the purpose herein re-
quired.
SECTION 6. That, in order to make provision for the payment
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of interest which will accrue on said bonds on May 1, 1956, in th i
amount of $1,000.00 and on November 1, 1954, in the amount of
$1,000.00, said dates being prior to the time when the first tax
herein rovided for can be levied and collected there shall be `
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and there is hereby appropriated out of the Interest and inking
Fund of said City the sum of $2,000.00 which sum shall be restore
to the fund from which it is appropriated out of the first taxes
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levied and collected hereunder.
SECTION 7. That the Me- or and the City Clerk are hereby
authorized and directed tocause the bonds herein described to be
and to execute the same as hwrein provided, to cause the
prepared p , i
same to be registered in the office of the State Auditor, and to
deliver said bonds to the burchaser thereof in accordance with
the terms of sale and award.
SECTION B. That the proceeds received upon sal and deliver 1 ,
of the bonds herein authorized to be issued shall., immediatelyt
upon receipt thereof, be set aside in a separate find to be used
solely and oily to provide right of ways for and to create, open,
and improve public streets in connection with the bridge now in
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course of construction over the Missouri hiver at Jefferson Citye
Theaccrued Interest and premium received upon sale and delivery
of the aforesaid bonds shall forthwith be deposited in and credite
#o the "Street improvement Bonds 10terest and Sinkinf Fund of 195 l n '
created under Section 5 of this ordinance.
SECTION 9. That the City Treasurer be and he is hereby
authvvtzdd and directed, without any further authorization or dire -
tion of the City Council, not less than five (5) days prior to the
accruing of semi-annual interest and to the maturity of the bonds
herein directed to be issued, to remit to the St. Louis Unidn Trust,
Company, St. Louis., Missouri , the amount of interest or principal
or both then becoming due , and the said Treasurer is hereby authori-
zed to, include with each such remittance the usual and customary I
fee of said Trust Company for its services and responsibility in
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connection with the payment of said coupons and bonds and making I
accounting therefor to the Cit;, of Jefferson. i
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SECTION 10. That all ordinances or parts of rodinances in
conflict with the provisions of this ordinance shall be and the
same are hereby repealed, insofar as they so conflict, and this
ordinance shall be in force and effect from and after its passage
and approval.
Read three times and passed this 2nd day of
November, 1953.
Arthur W. Ellis
Attest: Mayor and Presiding OffNer of
the City Council
Henry W. Ells
City Glerk
Approved this 2nd day of November , 1953
Arthur W. Ellis
Attest: Mayor
,��
ity �Jlerk
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