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HomeMy Public PortalAboutORD04820 40 . SECTION 2. All ordinance of part of ordinances in conflict herewith are hereby repealed. SECTION 3. This ordinance shall take effect and be in force from and after its passage and approval. . Passed 8Z-5, 1946 Approved�;'„„ 816 1946 Jesse N Owens Jesse N. O�veng President of the Council Alayor #4020 AN ORDINANCE DIRECTING THE ISSUANUE Ur' STREET IMPROVE- ' DENT BONDS OF THE CITY OF JEFFERSOT,,*, COLE COUNTY, MIS- SOURI, IN THE PRINCIPAL AMOUNT OF ONE HUNDRED SIXTY THOUSAND DOLLARS ($160,000) , AUTHORIZED AT THE GENERAL CITY ELECTION HELD IN SAID CITY ON THE 2ND DAY OF APRIL, 1946• PRESCRIBING TIIE FORM AND INCIDENTS OF SAID BONDS; AND hRIVIDIIVG FUR ThE LEVY OF AN ANNUAL TAX SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES ANDTO CONSTITUTE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF AT MATUHITi . W. EEEAS, the City Council of the City of Jeffers• n, Cole County, Missouri., by Ordinance No. 4775, duly and regularly adopted, at a meeting of said City Council held on the 4th day of March, 1946, and and approved by the -Mayor of said City on the 4th day of March, 1946, did direct that there be submitted to the qualified voters of said City at the general city election to be held therein on the 2nd day of April, 1946, the following propositions: PROPOSIT.LU1y .NU. 1 To increase the indebtedness of the City of Jefferson, Cole "ounty ITissouri, in the amount of One Hundred Twenty-four Thousand �woll=•.rs ($124,000.00) for the purpose of creating, open- ing and improving a new street beginning at the 1 ' • '' south end of lay Street and running in a south- westerly direction to Dix Road in said City, and to -, evidence such indebtedness by the issuance of bonds of laid City in said amount for said purpose. PROPOSITION W, To increase the indebtedness of the City of Jeffer- son, cote "ounty, Missouri, in the amount of Thirty- six Thousand Loilors ($36,UUU.00) I-or ttie purpo.se:;•of improving public streets in said City by constructing bridges thereon, and to evidence such indebtedness. by the issuance of bonds of said City in said amount for said purpose. and 'JHERErS, the said ordinance did direct that slid election be held in the several wards and in the precincts and at the polling pl6ebs established for the holding of the aforesaid general Uity election and as set forth in the "Notice of bond PjlectionW as pre- scribed in Section 5 of said ordinance; and WY_EREAS, 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 publieAed 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 mutter and having been published regularly and c• nsecutively for a period of more than three (3) years prior to the firsr publication of said notice and said newspaper having a list of bona fide sub- scribers voluntdfk engaged as such, who have -..aid or agreed to pay a stated prise for subscriptions thereto for a definite period of time, and wnicn said notice res puDltied in said %r4er on the 7th, 14th, 21st and Lebth days of March, 1946; and 4 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 publiestions in said newspaper having occurred at ' least twenty-bnev(21) days bet'ore and the last pub1imetion 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 2nd day of April, 19460 in the manner and form as ,required by law; and WHEREAS, the bi11ot used at said election in voting on the ' aforesaid propositions was substantially in the form set forth in said Ordinance No. 4775 and was as follows: OFFICIAL BALLOT CITY OF JEFFERSON COLE COUNTY, MISSOURI. luesday, the 2nd day of April, 1946. .(Instruction to voter: vote deparately on each proposition. ) PROPOSITION NO, 1 To increase the indebtedness of the City of Jefferson, Uole County,, aissouri, in-the amount of One -Hundred T%enty-four Thousand Dollars ($124,000.00) for the purpose of 'creating-* open- ing and improving a new street beginning at the south end of lay ,Otreet apd running in a south- ' westerly direction to Dix Road . ln sal`d City, and to 1 evidence such indebtedness'"by the issuance of bonds, of said Uity in said amount for said purpose. FOR INCREASE OF DEBT - YES FOR INCREASE OF DEBT - No (Voters favoring this proposition will strike out the word "NO" oters opposing this pro- position will strikeout the word "YES" .) PROPOSITION NO. 2 To increase the indebtedness of the Uity of Je' f'f- erson,, Cole County, Missouri, in the amount of Thirty-six Thousand ollars ($36,000.00) for the purpose of improving public street 'in said �'ity by constructing bridges thereon, and to evidence such indebtedness by the issuance. of bonds of said city in said amount for said purpose. FOR INCREASE OF DEBT - YES FOR INCREASE OF DEBT - NO (voters favoring this proposition will strike out the wort "NO" . Voters opposing this pro- position will strike out the word "YES".)' and WHEREAS) the judges and clerks of said election did, immediately upon the closing of the polls on said 2nd da0y oa Aoril, 1946, make out, certify and transmit to the City lerk the returns of said election; and WHEREAS,the City Clerk did, on the 16th day of -'prij, 1946, transmit said returns of said election to this city Council; and' A 4 1 WHEREAS, this City Council did, on said 16th day of "pri1, 1946s canvas the said returfis and did then find and determine and does now afain find and determine that there was cast on the aforesaid Pro- position No. 1 an aggregate of three thousand and twenty-three (3,023) votes, of which two thousand, five hundred twenty-eight (2, 528) votes were cast "FOR INCREASE OF DEBT - YES" and four hun- dred and ninety-five (495) votes were cast "FOR INCREASE OF DEBT - "NO11.0 that there was cast on the aforesaid Proposition No. 2 an aggregate of two thousand, eight hundred and ninety (2,890) votes, of which two thousand, four hundred and twenty-one (2,421) votes were cast "FOR INCREASE OF DEBT - YES" and four hundred and sixty-nine (469) votes were cast "FOR INCREASE OF DEBT-NO" and that each of said propositions was, therefore, assented to ty a majority of more than two-thirds of the qualified voters caf said City voting at said election on said propositions, respectively; and • WHEREAS, the assessed valuation of taxable property within the corporate limits of the City of Jefferson,as ascertained by the assessment for State and county purposes made as of Jane 1, 19431 and being the next before the last completed assessment made prior to the 2nd day of Xpril, 1946, was r•ifteen Million, 'ightHundrjd Seven *houdand, Two Hundred and Forty-four Dollars ($15,80 7, , and WHEREAS, the value of taxable real estate in said City as shown by the assessment for state and county purposes made as of June, 1944, said assessment being the last completed assessment prior to the date of slid election, was Twelve Million, +hree Hundred Seventy-eight housand, .our Hundred and Forty-two Dollars ($12,378,442) ; and 1 WHEREAS, the city of Jefferson, Missouri, on the date of said election, to-wit: on the 2nd day of April, 1946, had the following outstanding bonded indebtedness: DATE OF ISSUE PURPOSE AMOUNT OUTSTANDING September 1, 1926 Sewer and Bridge $18,000.00 September 1, 1930 Refunding 7,000.00 June 1, 1932 Judgment funding 28,000.00 May 1, 1934 Iryprovement 480000.00 March 1, 1935 Refunding 41,000.00 July 11 1940 dire Department 19,000.00 September 1, 1944 firport 185,000.00 total. . . . . . . . . . $34 ,000.00 and on said date had no other indebtedness outstanding, either bonded or floating; and 1� WHEREAS, the aggregate amount of bonds authorized at said election, to-wit: One Hundred sixty Thousand ollars ($160,000) together with all other indebtedness of said dity, did not on said 2nd day of April, 1946, and does not now exceed any limit of in- debtedness prescribed under the Constitution of Missouri, or any statute of said State; and i WHEREAS, the ity Council of the pity of Jefferson, Missouri is now authorized by the Laws of said State to issue bonds of said pity in the amount of One Hundred Twenty-four Thousand Dollars ($124,000) for the purpose of creating, opening and improvig a new street be- ginning at the south end of `'lay Street and running in a southwesterly direction to Dix oad in said city, and in the amount of }hirty-six thousand Dollars ($36,000) for the purpose of improving public .str`•eets in said city by constructing bridges thereon; and � 41.2 WHP,'REAS the "'ity "ouncil of said "ity does now find and de- teritine that it would be desirable to combine the aforesaid bonds in one issue of Street Improvement Bonds of said city as hereinafter provided; and WHEREAS, said ity Council is now desirous of making pro- vision for the issuance fo said bondst NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURIp AS FOLLOWS% SECTION 1. That the aforesaid propositions.numbered 1 and 2., submitted to the qualified voters of said City at the Reneral 'ity election held in said City on Tuesday the 2nd day of prilp ' 19460 be and the said peopositionso respectiveiy are hereby deClared to have been assented to by a majority of more than two-thirds of the qualified voters of druid "'ity voting at said election on said pro- positions, respectively. SECTION 2. That there are City ereby authorized and ordered to be prepared and issued bonds of the of Jefferson, Missouri., in the amcLat of One Hundred Sixty of ollar ($160j000) to provide funds in the amount of One Hundred Twenty-four Thousand Dollars ($124.,000) for the purpose of creating, opening and improving a new street beginning at the south end of Clay Street and running in a southwesterly direction to Dix Road in said City and to provide funds in the amount of Thirty-six thousand Dollars ($391,000) for the pur- pose of improving public streets in said "ity by constructing bridges thereon. Said bonds shall be of the denomination Of One Thousand Dollars ($10000) each,, shall be numbered from One (1) to One Hundred and Sixty (160), both inclusive, shall bear date of August 1. 19460 and shall bear interest at the rate of one and one-fourth per centum. flAk (1-J%) per annum from the date thereof until the prinlipal thereof: respectively, shall have been fully paid, payable November 1; 1946, and semi-annually thereafter on May 1st and November 1st in each year. Interest accruing on said bonds on and prior to maturity shall be payable upon presentation and surrender of the interest coupons to be attached to said bonds. "oth principal of and interest on said bpnds shall be payable in lawful money of the United States of America at the office of the Central Missouri Trudt Company,, in the ,City(f Jefferson, State of Missourip The said bonds shall be executed by the signature of the Mayor of said "ity, under the seal of thld ity, attested by the signature of the City "lerko and- the intereA cou- pons to be attached to said bonds shall be executed by the facsjAile of said ity Clerk,, and said bonds shall mature: without option of prior payment, in the amounts and at the times nereinarter set out, as rollows: BOND NUMBER§ AMPUNT­ MATURITg- - 1 to 4. incl. $4,000 May 1, 194 5 to 8., 11 4.0000 May 1) 949 9 to 12, 4:000 May 1, 1949 13 to 14 2.,000 TV"a y 1., 1950 15 to 189 4P000 May­,I., ! 195l 19 to 23, 5.V000 May 1, 1952 24 to 29., 5,1000 May 1; 195 29 to Al 6,000 may 1) 19P 35 to &r) 6.,000 May 1) 1955 41 to 46, 6,000 may 11 1956 47 to 53- 7.,000 Mpy 1) 195 54 to r-' ' 59 6,000 May 1) 1959 60 to 66' May 1., 1959 P 7,P000 67 to 73, 7,P000 May 11 1960 74 to 80., 7,000 May 10 1961 61 to b7.p 7.v000 May 11 1962 bb to 95.2 b.1000 rJay 1., 1963 96 t n 1.02.1 7,000 May 1) 1964 105. ti 0 131., 29,p000 May 1., 1965 132 to 160,11 29.,OOP May 10 1966 41.3 SECTION 3. That the said bonds end the interest coupons evi- dencing the interest to accrue thereon shall be in substantially the following form, to-witx UNITED STATES OF AMERICA STATE OF MISSOURI COUNTY OF COLE CITY OF--JEFFERSON 14% STREET IMPROVE1.tENT BOND NO. $1,000.00 The City of Jefferson, Cole County, Missouri, acknowledges 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 blay, l9_, with interest thereon from the date thereof until paid, at the rate of one and one-fourth per centum (1-41%) per annum, payable November 1, ly4b, and semi- annually tneresiter on may 1st aria novemuer ist in eaun year. Interest accruing on this bond on and prior to the maturity date hereof shall be payable 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 office of the Cgntral Missouri Trust ,ompany, in the wity of Jefferson, State of M ssouri, 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, Missouri, are hereby irre- vocably pledged. This bond is one of a series of like date, tenor and effect, except as to number and date of maturity, numbered from One (1) to t4ne Hundred and Sixty (160) both inclusive, aggregating the sum of One Hundred "ixty thousand hollars ($160,000), issued by the city of Jefferson, Mt- ssouri, to provide funds in the .amount, of One Hundred Twenty-four thousand Dollars ($124,000) for the purpose of creating, opening and improving a new street beginning at the south end of ''lay Street and running in a southwesterly direction to Dix Road in slid City, and to provide fuhds in the amount of' 'hirty-six thousand ,ollars,_ ($36,000) for the purpose of improving public Streets in said City by constructing bfidges thereon, under authori- ty of Article 5 Sand 11 of hapter 3d, Revided Statutes of Missouri, for the year 1939, as amended, and of an election dyly held in said City od the 2nd day of April, 1946, whereat more than two-thirds of the votes cast were in favor of the issuance of this bond and of the issue of which this bold is ones and 4by r'urther authority of ordi- ance duly adopted by the City "ouncil of said �ity. It is hereby certified and recited that all acts conditions and things required to be done precedent to and in the issuance of th&s bond have been done, have happened and have been performed in regular and due time, form and manner, as required by law; that a direct continuing annual tax upon all of the taxable property in said City has been levied for the payment of the principal of and the interest on thi bond, and that the total indebtedness of said ity, including this bond and the issue of which itis one, does not exceed any statutory or constitutional limit. IN TESTIMONY WHEREOF, the ity of Jefferson, in the State of Missouri, has executed this bond ty causing.-it to be signed by the Mayor of said "ity, under the seal of said ity, attested by the City. "lerk, and has caused the annexed i4te5est coupons to be executed b by the facsimile signature of said City lerk, which signature the said �Iity Clerk, by the execution of this bond, adopts as and for his own proper signature, all this first day of August, 1946. :i; 414 CITY OF JEFFERSH, MISSOURI, BY Mayor Attest: ity lerk (FORM OF INTEREST COUPON) NO, May On the first day of November, 19 , th6 City of Jefferson, Cole County, Missouri, promises to pay the bearer ($ ) in lawful money of the United States of America at the off cue of the Central Missouri Trust Company, in the City of Jefferson, State of Missouri: bearing interest due that date on its Street Improvement Bond dated tugust 1, 1946, and numbered. CITY OF JEFFERSON, MISSOURI, BY CITY• CLERK Coupon No. 1 attached to each of said bonds, representing interest due thereon on November 1, 1946, shall be payable in the amount of $3.13, and all subsequent semi-annual interest coupons to be attached to said bonds shall b.e payable in the amount of $6.25 each. SECTION 4. that when the said bonds shalllhave been ex- ecuted 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, tp-wit: STATE OF MISSOURI) sse CITY OF JEFFERSON) I Forest mith, 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 ail the conditions of the contract under, which it was ordered to be issued have been complied with, and that the evidence thereof is on file in my orrife; and I further certify that this bond has been duly reg- istered in my office in compliance with the Laws of the State of Missouri.. IN TESTIMONY WHEREOF, I have hereunto set my ahnd and affixed the seal of my office in the city of Jefferson Missouri, this day of , 1946. State Auditor By hief 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 shall respectively mature and accrue, there shall be and there is hereby levied a direct continuing annual tax upon atl of the taxable property within said City of Jefferson, sufficient, after due a allowance shall have been made for the expenses of collection and 41.5 delinquencies in the payment of taxes to produce in each of the years 1947 to 1966, both inclusive, tie following sums required for the payment of' maturing principal and accruing interest, to- wit: YEAR OF LEVY FOR THE YEAR FOR PRINCIPAL FOR INTEREST TOTAL 194,6 1946-1947 $4,V000 $22475-80 $61475-80 194 1948 41000 1, 2 5-.00 5, 2 5.00 194 1949 4'.000 1,1375.00 575.00 1949 1950 2,000 1,837.00 3,837. 50 1950 1951 41000 1,800.00 50800.00 1951 1952 5,000 1,743 75 6,74 •75 1952 1953 5,000 1,681.25 6,68.25 1953 1954 6,000 1,612. 50 7,612. 50 6,O00 1, 5 7. 50 7., 537- 50 1955 1956 6,000 1,42.50 ,42.50 1.956 1957 7,000 1,381.25 9,381.25 1.957 1958 h,0Po 1,300.00 1300.00 1958 1959 7,000 1,218.75 9,218.75 1959 1y60 7;�', 12131.25 8,131.25 1960 1961 ,j,c:,00 1,04 .75 81Q43-75 1.961 ,1963 r7,Wo 956.G5 Z.g56.25 3.(;)62 1.963 ,ac,0 862.50 , 62. 50 1.963 1.96)4 ,/,060 768075 7,768.75 3.9f?4 1.9�_>> 29, c�c0 X43.75 29,543.75 1.965 1.()66 2 181.25 29,181.25 And provision to meet the requirements of this ordinance shall in 'due tune, manner and season annually be made. SECTION 6. That the said tax shall be extended upon the tax rolls and collected in the same manner and at th same time as other cit taxes are collected, and the proceeds derived from the collection of such tax shall be credited to a fund hereby created and designated "Street Improvement Blinds Interest and ~inking rund of 1946", and shall be used exclusively for the purpo§e herein required. SECTION 7. That the '"ay ( r and the "ity Vlerk are hereby authorized and directed to cause the bonds hereifl described to be prepared and to execute same as herein provided, to cause the same to be registered in the office of the State Auditor, and to de- liver said bonds to the purchaser thereof in accordance with the terms of said award. SECTION 8. That the principal proceeds received upon the sale and delivery of the bonds herein authorized to be issued shall, immediately upon receipt thereof, be set aside in separate funds in the following amounts and for the following purposes) to-wit: The sum of One Hundred Twenty-four Thousand Dollars ($124,000) for the purpose of creating, opening, and improving a new street beginning at the south end of Clay Street and running in a southwesterly direction to Dix Road in said City. The sum of Thirty-six Thousand Lollars ($36,000) for the purpose of improving public streets in said ity by const- ructing bridges thereon. ^ The accrued interest and the premium received upon sale and de- livery of the aforesaid bonds shall forthwith be deposited in ant'" credited to the Street Improvement onds Interest and 'inking Fund of 1946 created under Section 6 of this ordinance. SECTION 9. 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 shall be in force and effect from and after its passage and approval. Read three times and passed this _5th day of Aug. , 1946.