HomeMy Public PortalAboutORD05735 312
AN ORDINANCE DIRECTING THE ISSUANCE OF AIRPORT IM-
PROVEMENT BONDS OF THE CITY OF OEFFERSON, COLE COUNTY, +
MISSOURI, IN THE PRINCIPAL AMOUNT OF ONE HUNDRED THOU
SAND DOLLARS ($100,000) TO PROVIDE FUNDS FOR THE PUR---
POSE OF EXTENDING AND IMPROVING THE FACILITIES AT THE
MUNICIPAL AIRPORT OF SAID CITY KNOWN AS THE JEFFERSON
CITY MEMORIAL AIRPORT, AUTHORIZED AT A SPECIAL ELECT.T.ON
HELD IN SAID CITY ON THE 15th DAY OF SEPTEMBER, 1953, ;
SETTING OUT THE FORM OF SAID BONDS AND THE INTEREST
COUPONS TO BE ATTACHED THERETO, DETERMINING THE RATE OF
INTEREST, MATURITIES, AND PLACE OF PAYMENT THEREOF; AND
PROVIDING FOR THE LEVY OF AN ANNUAL TAX XUFFICIENT TO P
THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO PAY THE I
PRINCIPAL THEREOF AT MARUTITY.
WHEREAS, the City Council of the City of Jefferson, Cole
County, Missouri, by Ordinance No. 5691 , duly any? regularly S .
adopted at a meeting of said City ouncil held on the 3rd
day of August, 1953, and approved by the Mayor of said iL°—ty on the
3rd day of August, 1953, did direct that at a special elec-
tion to be held in said City on Tuesday, the 15th day of Septembe ,
1953, there be submitted to the qualified electors of said City t
following proposition:
PROPOSITION NO. 2
"Proposition to ssue the bonds of the City of
Jefferson, Cole ounty, Missouri, to the amount of
One Hundred Thousand Dollars ($100,000) for the
purpose of extending and improving the facilities
at the municipal airport of said City known as the
Jefferson Ctity Memorial 4irport. "
and
WNERFAS, said ordinance did direct that the aforesaid
election be held in the several wards and in the precincts and
at the polling places designated thereby; and
i
WHEREAS, due and regular notice of the aforesaid special
election was given as directed by said ordinance and as re-
quired by law, by publication in the Daily Capital News on
August 20 and 27 and September g and 10. 1953, and by publi-
cation in the Post-Tribune on august 20 and 27 and Septemb-
er, 3 and 10. 1953; said Baily Ca?ital News and Post-Tribune
being daily newspapers published acid of general circulation
in said City of Jefferson, and said newspapers 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 of said notice in each of bbLid!
newspapers, respectively, having a list of bona fide subscri-
bers voluntarflly engaged as such who have paid or agreed to
pay a stated price for subscription thereto for a definite
s
313
i
period of time; and
WHEREAS, said notice was published in each of said newspap-
ers once a week for four (4 ) consecutive weeks prior to the date
of said election, the first of said publications ineach of said
newspapers having occured at least twenty-one (21) days before and
the last publication within two (2 ) weeks of the date of said elec-
tion; and
WHEREAS, this city Council did appoint judges and clerks of
said special election and did make provision for the use of ballots
in the form provided by law; and
WHEREAS the ballot used at said special election was in
substantially the for as set out in the aforesaid Ordinal ce No.
5791 ; and
WHEREAS, the judges and clerks of said elelction, on the
15th day of September, 1953, did make out, certify, and transmit
to this City Council, through the City Clerk, the returns of said
election; and
WHEREAS, said City Clerk, on the 21st day of September ,
19539 did transmit said returns of said election to this City
)( Council; and
I WHEREAS, this City Council, on the 2 st day of September
19539 did canvass the returns and ddid then find and determine and
does now again find and determine that there was cast on the afore-
said prop-�sition No. 2 an a,.7gregate of r'our Thousand One Hundred
Sixty Six (4166) votes, of which Two Thousand
Eight Hundred Fifty Three (2853) votes were cast in favor of
the aforesaid proposition m d One Ihousand Three Hundred Thirteen
(1313) votes were cast against the aforesaid proposition, and tha '
said proposition was, therefore, assented to by a majority of more
than two-thirds of the qualified electors of said City voting at
said election on said proposition; and
WHEREAS, the assessed valuation of taxable tangible property
within the core mate limits of the City of Jeffersonm as ascertains
by theassessment for state and county pruposes made as of January
12 1953, and being the last completed assessment made prior to the
15th day of September, 1953, was TM,enty-Two Million, Seven Hundred
Seventy-Four Thousand, Pour Hundred Jixty-Eight Dollars 0:22,774,46 );
Ir
*'6"r
Wjjj�,RT!,,AS* the City
, of Jefferson, Vossourip on the date of sold
Electionp to-wit: on the 15th day of Soptembe.rs 1953, had outstand I Ing
bonded Indobtednoso in the principal amount of Seven IlUndred Thre 1
housand Dollars ($7030000) 0 and on said date had no other indebt-
edness outstanding, either bonded or floating; and
WITEREAS► the amount of bonds authorized at said election
under the aforesaid Proposition No. 2., to-wit: One Hundred Thous-
and Dollars ($1000000) to provide funds for the purpose of extendIng
and improving the facilities at the municipal airport of said Cit7
known as the Jefferson City Memorial Airport, and the amount of
bdnde au4•horized nt said election under Proposition NO. I sub-
,
mitted thereat, to-wit: One Hundred Thousand Dollars ($100,000) 9
to provide right of ways f6r and to croate, open.aand improve nub
lie streets in connection with the bridge now in course of con-
struction over the Missouri River at Jefferwon City, together witl
all other indebtedness of said City, did not on said 15th day of
September, 1953, and does not now exceed any limit of indebtednest
orescribed under the constitution and Laws of the State Of MiiSSOU3i;
and
WHEREAS, the City Council of the City of Jefferson is now
authorized to issue bonds of said City in the amount of One Hun-
dred Thousand Dollars ($1002000) to provide funds for the purpose
of extending and improving the facilities at the municipal air-
port of said City known as the Jefferson City Memorial "irport;
and
WHEREAS, said City Council is now desirous of amking pro-
vision for the issuance of said bonds:
NOW, THEREFORE, BE IT ORDAINTED BY THE VOUNVIL OF THE CITY
OF JEFFERSON, MISSOUR19 AS FOLLOWS:
SECTION 1. That there are hereby authorized and ordered
to be prepared and issued, bonds of the City of Jefferson,, Missour'..p
in the amount of One Hundred Thousand Dollars ($100,000) to provide
funds for the purpose of extending and imrpoving the facilities a
the municipal airport of said City known as the Jefferson City
Memorial Airport. Said bonds shall be of the denomination of One
Thousand Dollars ($1,000) each; shall be numbered from One (1 ) to
Oe Hundred (100). both inclusive; shall bear date of November 1]
77 7
1,53; and shall bear interest at the rate of one and one-half per
centum (14%) per annum, payable semi-annually on May 1 and Nov-
ember 1 ,in each year until the principal of said bonds, respect-
iveliV , shall have been fully pai d. Interest accruing on s aid
bonds on and prior to the maturity dates thereof shall be payable
upon presentation of the interest coupons to be attached to said
bonds. Both principal of and interest on said bonds shall be pay-
able in lawflal money of the United States of America at the
Central Missouri Trust Company, in the City of Jefferson, State of
Missouri. The said bonds shall be executed by the signature of the
Mayor of said City, under, the seal of thbd City, attested by the sig-
nature of the City Clerk, and the interest coupons to be attached
to said bonds shall be executed by the facsimile of said City Clerk
and said bonds shall mature in the amounts ans at the times herein-
after set out, as follows:
BOLD NUIVBERS AMOUNT MAUTIRTY
1 to 15, inbl. $151,000 May 11 1954
16 to 30, " 15;000 May 1, 1955
31 to 45, " 15.9000 May 1, 1956
46 to 60, " .;. 15,000 May 11 1957
61 to 75, 15.9000 May 1, 1958
76 to 90, " 15,000 May 1, 1959
91 to 100, " 10,000 May 11 1960
The right shall be and is hereby reserved unto the City of
Jefferson, at its option, to call in, and redeem bonds numbered
Seventy-six (76) to One Hundred (100), inclusive, of the aforesaid
issue, in the iiaveree order of their numbers, at par and accrued
interest, on May 1, 1958, or on any interest payment date there-
after prior to mati.irity. Written notice of the exercise of said
option shall be given to the Central Missouri Trust Company not
less than thrity (30) days prior to the date set for the redemp-
tion of any such bonds, and writeen notice shall also be given to
the State Auditor of Missouri, as required by Section 108.2609 Re-
vised Statutes of Missouri, 1 -499 Interest shall cease on any
bonds so called for redemption form and after the date thus set
for the reden.ptiom thereof, provided that funds are then avat.lable
for that purpose.
SECTION 2. That the said bonds and the i nterest coupons
evidencing the interest toaccrue thereon shall be in substantially
the folloi,;ing form, to-wit:
i
UNITED STATES OF AMERICA
STATE OF VISSOURI
COUNTY OF COLE
CITY OF JEFFERSON
1-�
AIRPORT TMPROVENENT BONDS
NO. $1,COO.00
'-Uhe City of Jefferson, Cole �'ounty, Missouri, acknowledges .1
itself indebted and, for value received, hereby promises to pay t
bearer the sum of
ONE THOUSAND DOLLARS
($1,000.00) on the first day of May, 19 , with interest there n
from the date hereof at the rate of one and one-half per centum
(14%) per annum, payable semi-annually on May 1 and November 1
in each year until the principal hereof shall have been fully pai .
Interest accruing .on this bond on and prior to the maturity date
hereof shall be payable upon presentation aid surrender of .thr
attached coupons as they severally become due.
Both principal and interest on this bond are payable in
lawful money of the United States of America at the Central Missouri
Trust Company, in the City of Jefferson, State of Missouri , and for
the prompt paym-ent of this bond and the interest thereon as and
when the same matures and accrues, the full faith, credit, and re-
sources of the City of Jefferson, Cole Oounty, M-ssouri, are here y
irrevocably pledged.
The right is reserved unto the city of Jefferson, at its
option, to call in, pay, and redeem bonds numbered Seventy-six �6 )
to One Hundred (100), inclusive, of the issue of which this bond
is .one, in the inverse order of their numbers, at par and accrued
interest, on May 1, 1958, or on .any interest payment date thereafter
prior to maturity. Written notice of the exercise of sa'd optio •
shall be given to the Central Missouri Trust Company not less tha
thirty (30) days prior to the date set for the redemption of any
such bonds, and written notice shall also be given to the State
Auditor of Missouri , as required by Section 108.260, Revised i
Statutes of M; ssouri, 1949. Interest shall cease on any bonds I
so called for redemption from and after thedate thus set for th
6317
redemption thereof, provided that ft.inds are then available far
that purpose.
This bond is one of a series of one hundred (100) bonds of
like date, tenor, and effect, except as to number, date of
maturity, and provision for redemption prior to maturity, as
hereinabove set otlt, numbered fron O,e (1 ) ro One Hundred (100 ,
inclusive, aggregating the sum of One Pundred 'Thousand Dollar
(0100,000) , issued by the City of Jeffers n, Missouri, to provide
funds for the purpose of extending and improving the facilities at
the municipal airport of said City known as the Jefferson City
Memorial Airport, under authority of the Constitution and Ststutes
of the State of Missouri a d of an election duly called and held
in said City on the 15th day of September, 1953, 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 dgly 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 iii
regular and due ti ,-e, a d manner, as required by law; that a direct
continuing annual tax upon all of the taxable tan , ible property in
said City has been levied for the payment of the principal of and
the interedt on this bond; and that the total indebtedness of said
of said to i.ty, including this bond and the issue of which it is one
i does not exceed any statutory or constitutional limit.
IN TESTIMONY WHEREOF, the City of Jefferson, in the State
of Missouri, has executed this bond by causing it to be signed
by the Mayor of said Qity, under the seal of said City, attested
by the City 6lerk, and has caused the annexed interest coupons to le
executed by the facsimile signature of said City Clerk, which sign "_.;
i tune the said City Clerk, by the execution of this bond, adopts as
and for his own proper signature, and this bond to be dated Novem-
ber 19 1953.
CITY OF JEFFERSON, MISSOURI,
BY
a�or
r3118
Attest:
City Ulerk
(FORM OF INTEREST COUPONS TO BE ATTACHED
TO BONDS NUMBERED 1 to 75, INCLUSIVE)
No. $7.50
May
On the first day of November, 19 , the City of Jefferson ,
Cole Qounty, Missouri, promises to pay to bearer Seven Dollars an
Fifty Cents ($7.50) in lawful money of the United States of America
at the Central N"ssouri Trust Company, in the City of Jefferson,
State of Missouri, being interest due that date on its Airport Imp,
provement Bond dated November 1, 1953, and numbered
CITY OF JEFFERSON, , MISSO II
BY
CITY CLERK
(FORM OF INTEREST COUPONS TO BE ATTACHED
TO BONDS NUMBERED 76 to 100, INCLUSIVE)
No. $7. 50
May
On the first day of November, 19 unless the Igond with
which this coupon is identified shall then be redeemable and shal
theretofore have been called for redemption and provision for the
redemption thereof duly made, the City of Jefferson,Cole County,
Missouri, promises to pay to bearer S"'ven Dollars and Fifty Cents
($7.50) in lawful money of the United States of America at the
Central Missouri Trust Oompany, in the City of Jefferson. State of
Missouri, being interest due that date on its Airport IN,provement
Bond dated November 1, 1953, and numbered
CITY OF JEFFERSON, MISSOURI,
BY
City Clerk
SECTION 3. That when the siad bonds shall have been execut( d
as hereinbef ore directed, they shall be presented to the State
Auditor of Missouri for registration, and each of said bonds shall
have endorsed upon thereverse thereof a registration certificate
of said State auditor in substantially the following form, to-wit:
STATE OF MISSOURI )
) ss.
CITY OF JEFFERSON)
it HASKELL HOLMAN, State Auditor of Missouri, do hereby
319
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
i
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 TESTIMONY WHEREOF, I have hereunto set, my hand and affix-
ed the seal of my office in the City of Jefferson, Missouri, this
day of , 1953.
State Auditor
By
Chief Clerk
SECTION 4. That for the purpose of providing for the pay-
ment of the principal 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 said City of Jefferson, sufficient
after due allowance shall have been made for the expenses of coll-
ection and delinquencies in 'the payment of taxes, to produce in
each of the years 1954 to 1960, inclusive, the following sums for
principal interest, respectively:
YEAR OF' LEVY FORi,THE OR PRINCIPAL-_FORT ,INTEREST TOTAL
1954 1954-1955 $30,000 $2$ 50.00 $32,550.00
1955 1956 15,000 937. 50 159937.50
1956 1957 15,000 712. 50 15,712. 50
1957 1958 15,000 487. 50 15,487. 50
1958 1959 15,000 262. 50 159262.50
1959 1960 10,000 75.00 10,075. 00
And provision to meet the requirements of this ordinance shall J=
in due time, manner and season annually be made .
SECTION 5. That the said tax shall bee xtended upon the tax
rolls and collected in the same manner and at the same time as other
city taxes arec ollected, and the proceeds derived from the col-
lection of such tax 'ehall be credited -to a fund hereby created and
designatedrAivport I,11provement Bonds Interest and Sinking r'und of
953,
and shall be used exclusively for the purpose herein required
320
SECTION 6. That, in order to make provhsion for thepaymenti
of principal and interest which will mature and accrue as follows
For principal, May 1, 1954g * . . . . . . .$150000.00
111or Interest, May 10 1954. . . . . . . . . . . . . . . . . . . . . . 750.00
For Interest, November 1, 1954 . . . . . . . . . . . . . . . . . 637.50
the aforesaid dates being prior to the time when the first tax he ein
provided for can be levied and collected, there shall be and there is
hereby appropriated out df any available funds of said City the
sum of $16,357.50 for the payment of said principal and interest.
SECTION 7. That the Mayor and the ity Clerk are hereby
authorized and directed tocause the bonds herein described to be ,
preppred 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 purchases thereof in accordance with
the terms of sale and award.
SECTION B. That the proceeds received upon sale and delive y
of the bonds herein authorized to be issued shall, immediately up n
receipt thereof, be set aside in a separate fund to be used sblel
and &nly for the purpose of extendigg and improving the facilitie
at the municipal airport of said City known as the Jefferson City
W emorial Airport.
The accrued interest and premium received upon sale and
delivery of the aforesaid bonds shall forthwith be deposited in aId
credited to the 'Airport Improvement Bonds Interest and Sinking F • d
.',..of 1953" created under 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 that five (5) days prior
to the accruing of semiannual interest and to the'.maturity of the ftxft
bonds herein directed to be issued, to remit to the Central Misso � i
Trust Company, Jefferson City, Missouri, the amount of interest of
principal or both then becoming due, and the said Treasurer is
hereby authorized and directed to include with each such remittan
the usual and customary .fee of said Trust Company for its service
and respeonsibility in connection with the payment of said coupon and
bonds and making accounting therefor to the Oity of Jefferson.
SECTION 10. That all ordinm ces or parts of ordinances in
conflict with the provisions of this ordinance shall be and the