HomeMy Public PortalAboutORD03290 89
SECTION. 3• This Ordinance shall take effect and be in
force from and after its passage and approval.
Passed April 15th. 1930 . Approved April 24th. 1930.
E. W. Jenkins . E. W. J_ a kips.
President of the 1,ouncil. Mayor.
N0. 3290. AN ORDINANCE AUT1ICRIZING AND PROVIDING FOR ' IUj' ISSUANCE
BY THE CITY OF JEFFERSONt MISSOURI , OF ITS CURRENT REVENUE BONDS IN
THE AMOUNT OF $509000.00 AND MAKING Ait APPROPRIATION FOR THE PAYAfi}I;NT
OF THE INTEREST ON AND PRINCIPAL OF SAID BONDS.
WHEREAS, the current revenue of the City of Jefferson,
Missouri, for its fiscal year ending March 319 1931) will amount to
$1009000.00 and
WHEREAS, the City of Jefferson has outstanding and unpaid
obligations and will be without funds or nu.rrent revenue with which
to conduct its government for the remainder of the present fiscal
year, and
WHEREAS, the City of Jefferson is authorized under the
provisions of Section 82759 Revised Statutes of Missouri, 1919, to
borrow money and to issue its bonds for the payment of said City,
for the fiscal year, such bonds to be payable in one year from the
date thereof.
THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI, AS FOLLOWS:
SECTION• I . That there shall be and there are hereby
authorized and directed to be issued Current Revenue Bonds of the
City of Jefferson, .aissouri, in the amount of ;509000.00 in
anticipation of the collection of the revenue of said City for the
year 1930, and for the payment of the current and existing indebted-
ness of the City of Jefferson. Said Bonds shall be numbered from one
( I) to one-hundred ( 100) both inclusive, shall be of the denomination
of Five Hundred Dollars ($500.00) each, shall be dated April Ist.
1930, to bear interest at the rate of six per cent (6%) per annum,
payable semi-annually on the first days of October, 1930 and April
1931. All of said bonds shall be payable to bearer, shall 'become due
and mature on April Iot, 1931, both principal and interest, and to be
paid at the office of the City Treasurer, in the Uity of Jefferson,
Missouri.
SECTION. 2. Each of said bonds shall be executed by the
signature of the Mayor, attested by the signature of the City Clerk
and shall have the corporate seal of the City of Jefferson impressed
thereon. The Mayor and the City Clerk 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 bonds hereinbef ore
described.
SECTION. 3 . When said bonds shall have been executed as
aforesaid, they shall be presented to the State Auditor of Xissouri
for registration pursuant to law, and when registered shall be
delivered to the City Treasurer of the City of Jefferson, Missouri.
SECTION. 4. Upon the passage of this Ordinance, the City
Clerk shall rea6ive sealed bids for the purchase of the bonds herein
authorized to be issued, and ahall transmit such bids as he may
receive to the City Council for its consideration. No bid at less
than par shall be considered. Upon sale and award of said bonds, and
upon receipt of the sum offered therefor by the successful bidder or
bidders, and the proceeds thereof shall be applied to the payment of
the current and existing indebtedness of the City of Jefferson as
nay be ordered by the Council.
SECTION. 5. In order to pay the interest which will accrue
on the bonds herein authorized to be issued as the same accrues, and