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herewith are hereby repealed.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.