HomeMy Public PortalAboutORD03391 110. 3391. AN ORDINANCE AUTHCRIZING AND I'P-CVID].TG VCR '1'111; ISSUANCE
DY '1'1113 CITY 01i J1;F}''Et2S M, Y I SMJRI, OF ITS CURIIU1:1'1T RI VE TTUE' BONDS
IN TIM AECUNT OF $50 ,000 .00 AND MAKING AN APPRCPHIATICN FOR THE
PAYlIT�;1TT OF TIME INTE10 ST ON A'ND PRINCIPAL OF SAID BONDS .
I-VIi1+lME'AS, The Current Revenue of the City of Jefferson,
Missouri# for the Fiscal Year ending; 1'.arch 31, 1932, will amount
to $100,000 .00 and
EAS, The City of Jeffcrc.on has outstanding; and unpaid
obligations and will be without funds or current revenue with
which to conduct, its government for the remainder of the present
Fiscal Year, and
W19, 1EAS, The City of Jefferson is authorized under the
provisions of Section 678£3, Revised Statutes of A:issouri, 1929, 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 ORDAINTIM BY THE COUNCIL OF THE CITY OF
J7''1'FERSON9 MISSOURI, AS 1<OLLOWS:
SECTION. I. That there shall be and there are hereby
authorized and directed to be issued Current Revenue Bonds of the
City of Jefferson, Missouri, in the amount of $50,000.00 in
anticipation of the collection of the Revenue of said City for
the year 1931, and -for the payment of the current and existing
indebtedness of the City of Jefferson. Said bonds shall be
numbered from one (I ) to five (5) both inclusive, shall be of the
denomination of Ten Thousand =dollars ($10,000) each, shall be
dated Imo. 15th, 1931, to bear interest at the rate of three per
cent (3;T per annum, payable semi annually on the fifteenth days
of ITovember 1931 and 1:ay 1932. All of ea.id bonds shall be
payable to bearer, shall become due and Mature on May 15th, 19320
both principal and interest, and to be paid at 'the office of the
City Treasurer. , in the City of Jefferson, Missouri.
SEC'T'ION. 2. Each of said bonds shall be executed by the
signature of the x'_ayor, attested by the signature of the City
Clerk and shall have the corporate seal of the City of Jefferson
impressed thereon. The I` yor and the City Clerk are hereby
authorized and directed to cause to be prepared and printed in
such -fora as will comply with the provisions of this Ordinance,
the bonds hereinbefore described.
SECTION. 3. When said bonds shall have been executed as
aforesaid, they shall be presented to the State Auditor of
Yissouri• for registration pursuant to law, and when registered
shall be delivered to the City Treasurer of the City of Jefferson,
Missouri .
SECTION. 4 . In order to pay the interest which will accrue
on the bonds herein authorized to be issued as the same .accrues,
and to .pay the principal of said bonds at maturity, ,the following
amounts are hereby appropriated out of the Current Revenue of the
City of Jefforoon for the Fiscal Year ending Yarch 31st, 1932.
. 156 A
For interest due November 15th, 1931 750.-00
For interest due May 15th, 1932 - - - - - - - - 750.00
Yor principal due May 15th, 1932 - - - - - - - 50000.00
Total - - - - - - - - - - - - - - -- - - - - -451500.00
It is hereby made the special duty of the Treasurer of the
City of Jefferson, for the purpose of paying the Principal and
interest on the above bonds , to reserve the above amounts out of
the Current Revenues of said City which may come into his hands
for the Fiscal Year ending Yarch 31st, 1932.
i . SECTION. 5. This Ordinance shall take effect and be in
7, force from and after its
�., passage and approval, and all Ordinances
or parts of Ordinances in conflict with this Ordinance are hereby
repealed.
''- SECTION. 6. The City of Jefferson reserves the right to
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f- redeem these bonds at any time upon payment of the principal
thereof and together with interest to date of redemption upon
thirty (30) days notice.
PASSED May 14th. 1931. APPROVED 2AY 22nd. 1931
H. C. Asel. H. C. Asel•
;' . president of the Council Yayor, City of Jefferson.
ATTEST; My 22nd.
1931.
H. W. Ells.
City Clerks City of Jefferson.
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