HomeMy Public PortalAboutORD04404 ORDINANCE NO. 4404
AN ORDINANCE AUTHORI?ING AND DI'-??CTING TI-Il? ISSIIANCE OF CURRF.UT
REVENUE BONDS OB THE CITY OF JEFFERSON CITY, i:'ISSOURI, IN THE
PRINCIPAL SUA4 OF TWENTY-THREE T--'CUSAND DOLLARS ($23,000) , AND
I.IAKING PROVISION FOR THE PAYIMNT OF THE PRINCIPAL THEREOF AND
THE INTEREST THEREON.
PlHEiIEAS, to provide funds to meet current public needs of the City
of Jefferson City, Ml. ssouri, and to ruriintain the necessary public
services of said City, to pay tree salaries of officers and employees,
and to meet the necessary expenses of said City, it has become nec-
essary that the City of Jefferson City borrww the sum of Twenty-three
Thousand Dollars ($23,000) and issue t:ierefor appropriate evidences
of its indebtedness; and
WI?ERI?AS, by and under Section 6788 of the Revised Statutes of the
State of Missouri, 1929, tite City of Jefferson City is authorized and
empowered, by ordinance, to issue bond payable in one year, to an
amount riot exceeding the current revenue for the fiscal year; and
WHEREAS, the assessed valuation of taxable property within the cor-
porate limits of said City, as ascertained by the assessment made
as of JUne 1, 19'19 , upon which taxes will be collected in the
year 1940 -,-- - -,, is estimated to be Fourteen 1illj.on Ninety One
Thousand Three Hundred Eighty One Dollars and Triirty Six Cents
�$14�091*�$1• �� and
WHEREAS, the City Council of the City of Jefferson City, did by..
Ordinance No. 4341 , adopt and approve on the 2nd day of July
1940, levy a tax of sixty cents _ upon each One Hundred Dollars
of tree aforesaid assessed valuation, to provide funds to pay the
current . operating expenses of said City; and
WHEREAS, this City Council does now find that the aforesaid tax levy
and o ther sources of revenue applicable to the payment of current
expenses of said City for the current fiscal ;,rear, exclusive of taxes and
revenue provided for and charged with the payment of the bi:)nded in-
debtedmess of said City or other special obligations thereof, will pro-
duce approx1mately the following amounts, to wits
Proceeds of 60� _levy of X40 . . . . . . . . . . . . . . . . .$84, 548.28
Back Taxes from__-60 , _levy in prior years . . . . . . > r 14, 568.61
Merchants S: Manufacturers License. . . . . . . . . . . . . . . . 22,000.00
Other Licenses . . . : . . . . . . . . . . . o . , . , . . . . . . . . . . . . . . 10,000.00
M'scellaneous.$ever jues. . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000.00
Total. . . . . . . .7140,1189
�1
� and
w WHEREAS, of said anticipated revenues totaling the sum of One Hundred
Fort Thou nd One Iiuriclred Sixteen Dollard and �igtlty Pline Cents"
as aforesaid, there gas Heretofore been paid+the-
SUM of Twenty_ One Thousand Two Hundred Twenty Seven Dollars and
Seventeen Cents (, 21,227.17) _., leaving the sum of One I ndred _
Ei hteen Thousand Eight i'undred Ei hty Nine Dollars and Seventy Two Cents
as uncollected revenues of said City for the current
fiscal year; and
'N EREAS, no funds have heretofore been borrowed by the City of Jefferson
City in a.nticination of the collection of the aforesaid taxes aced rev-
enues; and
WliF,REAS, the said City has incurred no other debts or obligations which
are a charge upon said taxes and revenues, an(! all of said revenues yet
uncollected are ovailpble for the purpose o mai ntaining the necessary
public services paying, saiaries of officers and employe-es., and
meeting the necessary expenses of said City; and
1,711EREAS, the amount now proposed to be borrowed., to zit:
Twenty-three Thousand Dollars(.$23.,000) ., will not exceed half og the
aforedaid anticipated, bu uncollected) revenues for the current
fiscal year; and
WHEREAS, the amount of thebDnd hereby authorized., together with all
other debts and obligations of said City chargeable to the revenues
provided for the year 1940 will not exceed the sum of said revenues:
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF JEFFERSON CITY, MISSOURI., AS FOLLOWS:
SECTION 1. That, in order to provide funds to meet current
public needs of said City,, to maint&in the necessary public services
thereof, to pay the salaries of officers and employees., and to meet
the necessary expenses of said City during the current fiscal year
ending March 31, 1941, there shall be and there are hereby authorized.,
ordered add directed to be issued t1rie Current Revenue Bond of said
City of Jefferson City., Missouri., in the principal amount and sum of
Twenty-three Thousand Dollars ($23,000) . Said bond shall be of the
denomination of Twenty-three Thousand Dollars ($21,000) , shall bear
date of October l-, 1940 and shall bear interest at the rate
of __3 _F -per "
_per centum %, Y annum., payable with the principal of
said bond. Both the principal of and the - interest on said bond shall
be payable in lawful money of the United States of America at the
office of the City Treasurer of said City, in the City of Jefferson
City,, Missouri. Tile said bond shall be executed by the signature of the
Mayor of the City of Jefferson City, attested b�, the signature of the
City clerk, under the seal of said City. The said bond shall mature
and become due and payable on March 11, 1941.
SECTION 2. The City of Jefferson City reserves the right to
call in said bond for payment and redemption upon the giving of
thirty (30) days' written notice to the holder or holders thereof
and upon giving notice to the Stqte Auditor pf Hissouri,, as provided
by Section 2914 of the Revised Statutes of Missouri, 1929.
SECTION 3- Said bond shall be in substantially the following
form to wit:
UNITED STATES OF ALIERICA
STATE OF 1'.ISSOURI
COUNTY OF COLE
CITY OF JEFFERSON CITY
%
CURRENT REVENUE BOND OF 1940
11,0. $23.,000-00
The City of Jefferson City,, in Cole ounty., Missouri., a
municipal corporation duly incorporated and-existing under the
laws of the State of !v!tssouri, acknowledges itself to owe arid,
for value received,, iiereby promises to pay to bearer out of the
current revenues of the fiscal year within which this bond is
issued) tile sum of
TWENTY-THREE T11,70USAND DOLLARS
($23,000-00) on the lst day of _ P.,Iarch ) 1941. together with J:xkaxxs:k
interest thereon from the date hereof until the principal of this
bond shall be fully paid, payable with the principal hereof.
Both principal of and interest on this bond are payable at
the office of the City Treasurer of -tile City of Jefferson City.,
Missouri.. in said City.
This bond may be called in for payment and redemption at any
time upon the giving of thirty (30) days' n(.,tice to tile holder hereof
and upon the giving of the notice t the State Auditor requ_: red by
Section 2914 of the. Revised Statutes of Missouri, 1929.
3
This bond of Twenty-three Thousand Dol.l.ars ($23,000.00) is issued
by the City of Jefferson City for the purpose of anticipating not ex-
ceeding half of the current revenue of said City for the present fiscal
year, under authority of Sedtion 6788 of the ?ievided Statutes of
missouri . for 1929, and by further authority of an ordinance duly adopted
by the City Council of said City.
It is hereby certified, recited and represented that all acts,
conditions and things required to be done precedent to and in the
issuance of this bond, have been done, have happendd and have been per-
formed in regular and due form, time and manner, as required by law;
that an appropriation has been made out of the current revenues of
said City for the present fiscal year, sufficient to pay the princi-
pal of this bond, together with interest thereon, according to the
terms hereof, and that the amount of this bond does not exceed half
of the current revenues of said City for the present fiscal year,,
and does not exceed any statutory or constitutional limitation.
IN TESTIL^.ONY WHEREOF, the City of Jefferson City has executed
this bond by causing it to be signed by the Mayor of said City,
attested by the City Clerk, under the seal of said City, this 1
day of October 1940.
CITY OF JEFFERSON CITY, 11ISSOURI
BY
!� Mayor
Attest:
City Clerk
SECTION 4. That the Mayor and City Clerk of said City are
hereby authorized and directed to cause to be prepared and printed,
in such form as will comply with the provisions of this ordinance, the
bond and interest coupons hereinbefore described., and when the daid
bond shall have been executed as above indicated, it shall be pre-
sented to the State Auditor of T.I'Lssouri for registration9 and said bond
shall have endorsed theron a registration certificate od said State
Auditor in substantially the following forip�� to wit:
STATE OF I;,ISSOURI }
COUNTY OF COLE ) SS.
CITY OF UEFFERSON CITY)
I, Forrest Smith, State Auditor of Y-- ssouri, do nereby certify
that all the conditions of the law of the State of Missouri have been
complied with in the issuance of the within bond, and that all the
conditions of tiie 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 furt:ler certify that this bond has been duly re-
gistered in my office in compliance withkx the Laws of the State of
hTissouri.
IN TESTIL:ONY WHEREOF, I have hereunto set my nand and have affixed
the seal of my office in Je{'ferson City, L:issouri, this,_ day of
State Auditor
By
Chief Clerk
When the said bond shall have been so registered in shall be
delivered to the City Treasurer of said City of Jefferson City, who shall
in turn, deliver the said bond to the purchaser tiiereof when said bond
is sold.
SECTIOI? 5. That the Mayor and City Treasurer of said City shall
be and they are hereby authorized and directed to sell said bond for the
best price obtainable, at not less than par and accrued interest, and
the proceeds of the sale thereof shall be paid into the City Treasury