HomeMy Public PortalAboutORD04679 287
SECTION �� All U -dinances or parts of Ordinances in conflict xl
with this ordinance are hereby repealed.
SECTION 4. `lhi� ordinance shall take effedt and be in force
from and after its passage and approval.
PassedJu ly 10 _ 1944 Approved,_,_ ?/13 ___1944
Jesse N. Owens Jesse Ns Owen
Presid'e"nt of the Council tlayor
##4679
AN ORDINANCE DIRECTING THE ISSUANCE OF AIRPORT
BONDS OF THE CITY OF JEFFERSON, COLE COUNTY, MISSOURI,
IN THE PRINCIPAL AMOUNT OF ONE HUNDRED AND rIGHTY-
FIVE THOUSAND DOLLARS (.$ld5,000) FOR THE PURPOSE OF
ACQUTRIPJGp FSTrur 1S�.I^:1, CONSTRUCTING, OWNING EQUIP-
PFla CriAND:ilMPh0V1VGr.AN-LRPORT, OR'_vANDING FIELD 'OR
THE USE OF AIRPLANES AND OTHER AIRCRAFT EITHER WITHIN
OR WITHOUT THE LIMITS OF SAID CITY, AUTHORIZED AT AN
ELECTION HELD IN SAID CITY ON THE 11th DAY OF JULY, 19449
prescribing the form and incidents of said bonds;AND
PROVIDING FOR THE LEVY OF AN ANNUAL TAX SUFFICIENT TO
PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO
CONSTITUTE A SINKING FUND FOR THE PAYMIENT OF' THE PR1N*
CIPAL THEREOF AT MATURITY.
WHEREAS, the City vouncil of the "ity of Jefferson, Cole
County, Missouri, by Ordinance No. 4666, duly and regularly adopted
at a meeting of said City council held on the 5th day of June, 1944, xm
and approved by the mayor of said "ity on the 5th day of June, 1944, di
did direct that there be submitted to the qualified voters of said
City at a special election to be held therein on the 11th day of
July, 1944, the following proposition;
PROPOOIT ION
"To increase the indebtedness of the City of Jefferson,
Cole ounty, Missouri, in the amount of One Hundred
and eighty-five.- thousand Dollars ($ld5,000) for th6
purpose of acquiring, establishing, constructing, own-
ing, equipping and improving and airport or landing
field for the use of airplanes and other aircraft,
either within or without the limits of said City, and
to evidence such indebtedness by the issuance of bonds
of said "ity in said amount for said purpose";
and
WHEREAS,the said ordinance did direct that said election be held
in all wards in said City; and
WHEREAS, due and regular notice of said election was given as
directed by said ordinance and as required by law, by publication in the
Daily Capital News, a daily newspaper published and of general cir-
c lation in said 'ity of Jefferson, and said newspaper having been
previously admitted to the lost Office in said ^ity as second class
matter and having been published regularly and connectively for a
period of more than three (3) years prior to the first publication
of said notice, and said newspaper having a list of bona fide sub-
scribers voluntarily engaged as such, who have paid or agreed to
pay a stated price for subscriptions thereto f-or a definite period
k
288
of time, and which said notice was published in said newspaper on the
16th, 23rd and 30th days of June, 1944) and on the 7th day of July,
1944; and
WHEREAS, said notice was published in said newspaper once a
week for four (4) consecutive weeks prior to the date of said elec-
tion, the first of said publications in said newspaper having oc-
curred at least twenty-one (21) days before and the last publica-
tion within two (2) weeks of the date of said election; and
WHEREAS, the Judges and clerks of said election were duly
and regularly appointed and did conduct said election on the 11th
day of July, 1944, in the manner and form as required by law; and
WHEREAS, the ballot used at said election in voting on the
aforesaid proposition was substantially in the form set forth in
said Ordinance No. 4666 and was as follows:
OFFICIAL BALLOT
BOND ELECTION
CI`T'Y OF JEFFERSON
COLE COUNTY, MISSOURI
TUESDAY, THE llth DAY OF JULY, 1944
PROPOSITION
To increase the indebtedness of the pity of
Jefferson, Cole county, Missouri, in the amount c.i
of 6ne Hundred and mighty-five 'housand gollars
($185,000) for the purpose od acquiring, estab-
lishing, constructing, owning, equipping and im-
proving and airport or landing field for the use
of airplanes and other aircraft, either within or
without the limits of said City, and to evidence
such indebtedness by the issuance of bonds of said
d ity in said amount for said purpose.
FOR INCREASE OF' DEBT--YES
FOR INCREASE OF DEBT-NO
( Instructions to voters: Voters favoring this pro-
position will strrke out the owrd "NO,, . Voters op-
pos&dg this proposition will strike out the word
and
WHEREAS, the judges and clerks of said election did,
immediately upon the closing of the polls on said 11th day of July,
1944, make out, certify and transmit to the City Clerk the returns
of said election; and
WHEREAS, the City Llerk did, on the 7t_ th___day of Au us
1944, transmit said returns of said election to this City "ouncil;
and
287.71
WHEREAS, this City council did, on said 7&h --day of August ,
1944, canvass the said returns and did then find and determine and
does now again find and determine that there was cast on the afore-
said proposition an aggregate of Tajo Thousgnd Nne_Flundred and__
Seventy-four (2974) votes, of which Twq 'Thousand and Fifty Six
(2056) votes were cast "FOR INCREASE OF DEBT-YES" and Nine
Hundred Eighteen (918) votes were cast "FOR 1NCRERSE OF
DEBTiLNO". and that said propositinn was, therefore, assented to by a
mgjority of more than two-thirds of the qualified voters of said 1,ity
voting at said election on said proposition; and
WHEREAS, the assessed valuation of taxable property within
the corporate limits of the "'ity of Jerferson, as ascertained by the
assessment for state and county purposes made as of June, 1941, and
being the next before the last completed assessment made prior to the
11th day of July, 1944, was Sixteen Million, Seventy Thousand, Nine
Hundred and Eighty-seven Dollars ($16,070.9U7) ; and
INHEREAS, the City of Jefferson, L'issouri, on the date of said
election, to-wit: on the 11th of July, 1944, had the following out-
standing bonded indebtedness:
DATE OF ISSUE PURPOSE OF ISSUE AMOUNT OUTSTANDING
September 1, 1926 Sewer, r'ire Equipment and `G53,000.00
Bridge
September 1, 1930 Refunding 9,000.00
June 1, 1932 Judgement Fundigg 32,000.00
May 1, 1934 City Hall, Fire Station 531000.00
and Street Improvement
I4arch 1, 1935 Refunding 45,000.00
July 1, 1940 r'ire Equipment 19,000.00
$211,000.00
and on said date had no other indebtedness outstanding, either
bonded or floating; and
WHEREAS' the amount of bonds authorized at said election,
to-wit: Ogle hundred and Eighty-five `housand "ollars ($1 5,000) ,
together with all other indebtedness of said City, did not on said
11th day of July, 1944, anddoes not now wxceed any limits of indebtedness
prescribed under Section 12, of Article x of the Constitution of
tidssouri, or any statute of said State; and
290
WHEREAS, the kity "ouncil of the city of Jef'f'erson , Missouri,
is now authorized by the Laws of said State to issue bonds of said
City in the amount of One Hundred and Eighty-five Thousand "ollars
($lb5,000) for the purpose of acquiring, establishing, constructing,
owning, equipping and improving and airport or landing field for
the use of airplanes and other aircraft, either wi' hin or without the
limits of said city; and
WHHhMAS, Said City "ouncil is now desirous of making pro-
visions for the issuance (If said bonds:
NOW, THEREFORE, BE IT URDA1NED BY THE COUNCIL OF THE CITY OF
JEPT'ERSON, MISSOURI, AS FOLLOWS:
SECTION 1. That the proposition to increase the indebtedness
of the City of Jef'f'erson, Missouri, in the sum oi' One Hundred and
Eighty-five +housand Dollars ($ld51000) for the purpose of acquiring,
establishing, constructing, owning, equipping ana improving an air-
port or landing field for the use of airplanes and other aircraft,
either within or wthout the limits of said ity, and to issue bonds
of said city in said amount for said purpose, submitted at a
special election held in said City on the 11th day of July, 1944,
be and the said proposition is hereby declared to have been assented to
by a majority of more than two-thirds of the qualified Uoters of
said City voting at said election on said proposition.
SECTION 2. That there are hereby authorized and ordered to be
prepared and issued, bonds of the ^ity of Jefferson, Missouri, in the
amount of O"e Hundred and Eighty-five 'housand Dollars ($Id50000) f'ov th
the purpose of acquiring, establishing, constructing, owning,aquippi.ng
Aft
and impriving an airport or landing field f'or the use of airplanes a o
and other aircraft, either within or without the limits of said
city; Said bonds shall be of the denomination of One Thousand
Dollars ($10000) each, shall be numbered from One (1) to One
Hundred and Eignty-five (ln5) , both inclusive, shall bear date of
8eptember,1)1944, and shall bear interest at the rate of one and
one-fourth per centum ( lf$ ) per annum from the date thereof until
the principal thereof, respectively, shall have been fully paid,
payable P'ovember 1, 1944, and semi-annually thereafter on May 1st and
and f:lovember 1st in each year. Interest accuring on sd.d bonds on
and prior to maturity shall be payable upon presentation and surren-
291
ender of the interest coupons to be attached to said bonds. Both
principal of and interest on said bonds shall be peyable in law-
ful money of the United States of "merica at the office of the
Harris 'Trust and Savings BanK__ in the 1ty of Chicago_�____�.
State of yllinois , 'lhe said bonds shall be executed by the
signature of the Mayor of said City, under the seal of said Uity,
attested by the signature of the City Clerk, and the interest cou-
pons to be attached to said bonds shall be executed by the facsimile
signature of said city Clerk, and said bonds shall mature in the
amounts and at the times hereinafter set out, as follows:
BOND NUMB ?S AMOUNT MATTUHl`TY
1 to 5, incl. %5:000 May 1, 1953
6 and 7 " 2,000 May 10 1(,54
6 to ld 11,000 4y 1, 1955
19 to 34 " 16,000 1,4ay 11 1956
35 to 50 " 16)000 May 11 195V
51 to 67 17,000 May 1, 1954
bd to d5 1d:000 May 1, 1959
db to 104:" 19,000 May 11 1960
105 to 1�_,4 " 20.000 May 1, 1961
125 to 144 " 20,000 May 1, 1962
145 to 164 •• 20,000 A4ay 1, 1963
165 to lb5 21,000 may 11 1964
Provided, however, that the right shall be an(, is hereby reserved
unto the `*ity of Jefferson, at its option, to call in, pay and redeem el.
all or nay of the aforesaid tonds, at par and accrued interest, in
the inverse order of their numbers and maturities, on May 1, 19490
or on any interest payment date thereafter. Provided, further, that in
event the said City should elect to exercise such cpption,, notice thereof
shall be given as provided by Section 3301, Revised Statutes of
Missouri, 1939, and by written notice thereof delivered to 'the bank
named in said bonds as the place of payment thereof not less than
thirty (30) days prior to the interest payment date designated for
the redemption of such bonds, and such notice shall also be pub-
lished at least one time in some newspaper published and of general
circulation in the said City of Jefferson, such publication to be made
not less than thirty (30) days nor more than forty (40) days prior
to the date set for t;i( redemption of such bonds, after which date, so d
designated, no further interest shall accrue oxi any of such bonds so
called for rede ;pti on.
SECTION 3. That the said bonds and the interest coupons evi-
dencing the interest to accrue thereon shall be in substantially the
292
following form, to-wit:
UN 1'.11ED STATE'S OF AMBRiCA
STATE OF MISSOURI
COUNTY OP' COLE
U1TY OF JEFFERSON
AIRPORT BOND
NO. $1,000.00
The amity of Jefferson, pole county, Missouri, acknowledges i
itself indebted and, f'or vane received, hereby promises to pay to
bearer the sum of
ONE 'THOUSAND DULLAHS
($1,000.00) on the First Day of May, 19 with interest
thereon from the date hereof until paid, at the rate of one_
And one-fourth per centum ( 1 ) per annum, payable
P ovember 1, 1944, and semi-annually thereafter on clay 1st and
November 1st in each year. Interest accruing on this bond on
and prior to the maturity daIX hereof shall be payable upon pre-
sentation and surrender of the attached coupons as they severally
become due.
The right is hereby reserved unto the "ity of Jefferson,
at its option, to call in, pay and redeem the bonds of the issue of wh
which this bond os one, at par and accrued interest, in the inverse or
order of their numbers and maturities, on May 13 1949, or on any
interest payment date thereafter. Provided that in the event the
said "ity should elect to exercise such option, notice thereof
shall be given as provided by Section 3301, Revised Statutes of
Missouri, 1939, and by written notice delivered to the bank named e
herein as the place of payment hereof not less than thirty (30) days
prior to the interest payment date designated for the redemption
of such bonds, and such notice shallalso be published Ptleast one
time in some newspaper published and of general circulation in the
said 1-3ty of Jefferson, such publication to be made not less then
thirty (30) days nor more than forty (40) days prior to the date
set for the redemption of such bonds, after which date, so desig-
nated, no further interest shall accrue on any of such bonds so
called for redemption.
293
ijoth principal of and interest (_n this bond are payable
in lawful money of the United :sates of America at the office
of the Harris Trust S vin s Pank in the City of
Chicago,., State of Illin9j,9 _____., and for the prompt
payment of this bond and the interest thereon as and when the same
matures and accrues, the full faith, credit and resources of the
City of Jefferson, 14issouri, are hereby irrevocably pledged.
This bond is one of a series of like date, tenor rind effect,
except as to number and date of maturity, numbered from One (1)
to One hundred and Eighty-five ('lb5) , both inclusive, aggregating
the sum of One Hundred pnd Eighty-five 'thousand Dollars V.lb5,000) ,
issued by the 'ity of Jefferson, Missouri, for the purpose of
acquiring, establishing, constructing, owning, equipping and im-
proving an airport or landing field for the use of airplanes and
other iarcraft, either within or without the limits of said "ity,
under authority of Article 11 of chapter 38 and Article 3 of
Charter 123 of the Revised Statutes of Missouri, for the year 1939,
as amended, and of an election duly called and held in said 'ity
on the 11th day of July, 1944, whereat more than twe-thirds of tht:
voted 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 "ity ouncil of said City.
It is hereby certified and recited that all. acts, conditions ar
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 required by law; that a
direct continuing annual tax upon all of the taxable property in said
City has been levied for the payment of the principal of and the
interest on this bond, and thpt the total indebtedness of said
City, including this bond end the issue of which it is one, does
not exceed any statutory or constitutional limit.
IN Tk'STIMUNX NhEREON', the City of Jefferson, in the State
of 1,lissouri, has executed this bond by causing to to be signed by
the 'uayor of said "ity, under the seal of said "ity, sttested by the C
City %erk, and has cacused the annexed interest to be executed by th
facimile signature of said "ity Clerk, which signature the said
214
pity I-lerk,by the execution of t his bond, adopts as and for his
own proper sigristure, all this x#ght First Day of September, 1944.
C111'Y O1+' JEij'FXHSUN, MISSOURI)
!iY Jesse N. inns
Mayor
Attest:
�w W• E S
'City Clerk
(YORM 01+' 1N'1NREST COUPON REPRESENTING
lNTRREST DUE ON AND PRIOR TO MAY 12 1949)
No.
On the first day of November, 19_„_,__._, • the pity of
Jefferson, "ole 'county, Missouri, promises to pay to bearer___-_v____
Pin lawful money of the United States of -qmerica
at the of'f'ice of Harris Try and S @ving 13ank,, in the vity of
Chicago State of Lllinois , being interest due that date
on its Airport Eondx dated September 1. 1944, and numbered____.___,__.
CITY OF JE1+'YERSON11 111SSOUHl
BY— H. W. Ells
city Clerk
(FOnfl OY 1ATEHEST COUPON REPRESENTING INTER-
EST.' DUE NOVE rBER 1, 1949 AND THEREAFTER)
No. $
On the first day of November, 19 , (unless the bond wi
with which this coupon is identified shall previously have been ca
called in for payment and redemption as therein provided) , the
"ity of Jefferson, Cole bounty, 1,11issouri, promises to pat to bearer
(.1 ) in lawful
money of the United States of ,America at the office of the
Harris Trust and Saving s ank. in the city of �hiUgo ,
State of illinois , being interest due that date on its
Airport Bond dated September 1, 1944, and numbered
CITY (? JEP14'EHSON, MISSOURI:
''ity Clerk
2.9 5
Section 4. That when the said bonds shall have been
executed as hereinafter directed, they shall be presented to the
State Auditor of Missouri for registration, and each of said
bonds shall have endorsed upon the reverse thereof a registration
certificate of said State Auditor in substantially the following
form, to-wit:
STATE OF MISSOURI )
�} ss.
CITY OF JEFFERSON )
I, Forrest Smith, 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 aeidence
thereof' is on file in my office; and I further certify that this
bond has been duly regi.�t.ered in my office in compliance with
the Laws of the State of !'.issouri
IN TESTI11ONY )%HEREOF) I have hereunto set my hand and
affixed the seal of my office in the Gity of Jefferson,
Nlissouri., this day of , 1944.
State Auditor
BY
Chief I-lerk
Section 5. That for the purpose of providing for the
payment of the principal of and the interest on said bonds as
the same sespectively mature and accrue, there shall be and
there is hereby levied a diredt continuing annual tax upon all
of the taxable property within said Pity 'of Jefferson, suffi-
cient, 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 1944 to 1964, both inclusive, the
sums required for the payment of maturing principal and accruing
interest. And provision to meet the requirements of this
ordinance shall in due time, manner and season icnxmx&R annually
be made.
296
SECTION 61 That the said tax shall be extended upon
the tax rolls and collected in the some manner and at the some
time as other city taxes are collected, and the proceeds
derived form the collection os such tax shall be credited to
a fund hereby created and designated "Airport bonds Interest
and Finking Fund of 1944," and shall be used exclusively
for the purpose herein required.
SECTION 1.7. That the Mayor and the ,ity `'lerk are
hereby authorized and diredted to cause the bonds herein
described to be prepared and to execute same as herein provided, t
to cause the same to be registered in the office of the State
Auditor, and to deliver said k.onds to the purchaser thereof Ja-
accordance with the terms of sale and award. The proceeds
received from the sale of said bonds shall be credited to a fund
hereby created and designated the "Airport Fund", and said
fund shall be used exclusively for the purpose of acquiring,
establishing, constructing, owning, equipping and improlbg
an airport or landind field for the use of airplanes and other
aircraft, either within or wii.hout the limits of said city.
SECTION 8. That all or dinances or parts of ordinances in
conflict with :tx the provisions of this ordinance shall be
and the same are hereby repealed, insofar as they may conflict,
and this ordinance shall be in force and effect from and after
its passage and approval.
Redd three times and passed this M, day
of August, 1944.
Jegse N. Owens
Jbmxtdnx1 Mayor and presiding Officer
of the City Council..
Attest:
H. `N. Ella
city Ulerk