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HomeMy Public PortalAboutORD03494 i 227 charitable or educational purposes . PASSED: June 6th 1932s APPROVED: June 7th, 1932 . H. C. Asel. _ H. C. Asel. President of the Council. Mayor. Xpe 3493. ' AN ORDINANCE TO REPEAL SECTION 743 OF CHAPTER FORTY-ONE REVISED ORDINANCES OF TEE CITY OF JEFFERS0149 1925, AS AMENDED, AND AS THE SAME APPEARS ON PAGE TWENTY-NINE OF THE SUPPLEMENTAL ORDINANCES OF 19269 AND TO ENACT IN LIEU THEREOF A NEW SECTION TO BE KNOWN AS SECTION 743, RELATING TO THE SANE SUBJECT MATTER. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF JEFFERSON, AS FOLLOWS: SECTION. I. That ilection 7439 Chapter 419 Revised Ordinances of the City of tefferson, 1925, as amended, and av the same appears on page 29 of the Supplemental Ordinances of the City of Jefferson, 1925; be and the same is hereby repealed and anew Section, relating to the same subject matter,; enacted in lieu thereof, to be known as Section 743, and to read as follows: SECTION. 743. All Revenue direved from the licensing of all ' motor and other vehicles within the City of Jefferson, shall be placed in a fund to be known as the 1°Vehicle Fund", which money shall be used and expended only for the maintenance, cleaning and repair of the streets and alleys within the corporate limits of the City of Jefferson. . . All Revenue derived from the one cent levy per gallon on all gasoline sold within the corporate limits of the City of Jefferson, shall be placed in a fund to be known as the "Traffic and Vehicle Fund', and all moneys placed in said fund shall be used and expended only for the maintenance, cleaning and repair of the streets and alleys within the corporate limits of the City of Jefferson; and for the purpose of purchasing, constructing, operating, and maintaining traffic signal devices, stop-and-g© signs, and boulevard stops signs, and any other signs and devices, used in directing and controlling traffic on the streets and alleys within the corrorate limits of the City of Jefferson. SECTION. 2. This Ordinance shall be in full force and effect from and after the date of its passage and approval. PASSED.: June 6th, 1932. APPROVED: June 7th, 1932. H. C. Asel. H. C . ASEL. President of the Council. N+a.yor. N0. 3494. AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF JUDGMENT FUNDING DONDS OF THE CITY OF JEFFERSON CITY, MISSOURI, TO THE AMOUNT OF SE'VE'NTY-ONE THOUSAND, EIGHTY-NINE DOLLARS AND SEVENTY- TWO CENTS, ($71,089.72) DETERMINING THE DATE, MATURITIES AND OTHER INCIDENTS OF SAID BONDS, AND PROVIDING FOR THE LEVY OF A TAX FOR THE PAYMENT THEREOF. WHEREAS, by Ordinance No. 34852 approved Ylay 6th, 1932, it was ordered and directed that a special election should be held in the City of Jefferson City, Missouri, for the purpose of submitting to the qualified voters of said City a proposition to issue bonds of said City din the amount of seventy-one thousand, eighty-nine dollars and seventy-two cents ($71,089.72, for the purpose of funding certain indebtedness of the said City, evidenced by judgments against said City, as in said Ordinance fully set forth; and WHEREAS, the aggregate of said judgments is seventy-one thousand eighty-nine dollars and seventy-two cents ($71,089.72); and WHEREAS, the term of the Circuit Court of Cole County, at which said judgments were rendered, has fully elapsed and expired and no motions for a new trial were filed within the time allowed by law, 228 and no appeals have been takem, and said judgments have now became, and each of them has now become, final in all respects and are valid and subsisting obligations of the said City of Jefferson City; and WHEREAS, the said City is unable to pay the said judgments, and the levy and collections of a tax sufficient to pay such judgments and the interest accrued thereon can by law, by a single levy, be enforced against the City; and v'JHEREASI the said judgments bear interest at the rate of six per centum (6%) per annum, and the said City may be able to sell judgment funding bonds at a lower rate of interest; and iVHEREAS, the said special election was duly and regularly held on the 31st day of May, 1932, as directed in said Ordinance No. 3485, and in accordance with the provisions of the statutes of Missouri in such cases made and provided; and WHEREAS, the said special election was held in each ,of the precincts designated by an order of the County Court of `'ole County, Missouri, theretofore made and entered of record in the office of the County Clerk of said County, at the various places in each of the wards of the said City as set out in the said Ordinance, the polls being kept open in each of said precincts and at each of said polling places from 6 O'clock in the forenoon until 7 o'clock in the afternoon of said day; and WHEREAS, the said special election was conducted by the judges and clerks of election, duly and regularly appointed and qualified according to law, and the returns made and the results of said election declared in the same manner as for an viection for City Officers; and WHEREAS, the City Clerk did, in compliance with the direction of said Ordinance, give notice of the said election by publication in the Daily Capital News, a newspaper published in the City of Jefferson once a week for three consecutive weeks, by three (3) insertions in said publication, as evidenced by the publisher' s affidavit and proof of publication, to-wits on the 7th, 14th and 21st days of May 1932, said proof of publication being on file in the office of the 6ity Clerk, and said notice so published and each insertion thereof being in the form of notice set out in said Ordinance No. 3485; and WHEREAS, the said Daily Capital News had been published contin- uously in the said City for a period of at least one year, and said newspaper had complied with the provisions of the Act of the General Assembly of Missouri approved April 6, 1927, being Section 13775, Revised Statutes of Missouri for 1929; and WHEREAS, the ballots used at the said election by all of the voters who voted therein were in the form as directed in the said Ordinance; and WHEREAS, the said City Clerk did provide all the necessary poll books, tally sheets, ballots and other supplies necessary for the conduct of the said election, and did cause the same to be delivered to the judges of said election; and ,1EREAS9 it further appears that the said election was duly andb regularly held according to law and according to the Statutes in such oases made and provided, on the 31st day of May, 1932, at each of the polling places in the voting precincts, respectively, heretogore duly and regularly established and as ordered and directed in said Ordinance No. 3485; and WHEREAS, the ballots cast and. the returns thereof have been duly certified to this Council, as required by law, and the said returns have, on the 6th day 6f June, 19329 been duly canvassed and the results thereof declared by Ordinance No. 3490, approved the 7th day of June, 1932; and WHEREAS, it appears from the canvass of said votes cast at the said special election held on the 31st- day 'of May, 19329 that there were one thousand and fifty-six (1,056) votes cast on the proposition then submitted, of which votes nine hundred and eighty-five (985) were "TOR FUNDING JUDGMENT INDEBTEDNESS-YES", and seventy-one (71) were "FOR FUNDING JUDGMENT INDEBTEDNESS-NO", and it therefore further appears that more than two-thirds of the votes cast at the said elect- ion on the said proposition were for the funding of said judgment indebtedness, and that the said proposition recieved the assent of Pore than two-thirds of the qualified voters of the said City voting on the said proposition; and WHEREAS, this Council is now authorized to issue bonds of the said City of tefferson City, in the amount of seventy-one thousand eighty-nine dollars and seventy-two cents ($719089.72) to fund judgment indebtedness of said City, as authorized at the said special L:ti>;Y 229 election; and WHEREAS, the assessed valuation of taxable property in said City of Jefferson City, Missouri, based upon ownership as of June It 19299 (such assessment being the assessment next before the last completed assessment for State and County purposes in said City, prior to said 31st dak of May, 19319 ) was fourteen million, nine hundred and sixty- two thousand, six hundred and eighty-four dollars ($14,9629684.00); and WHEREAS, the total amount of bonded indebtedness of said City and indebtedness of every kind and character of said City, including the judgments rendered as aforesaid, was, on said 31st day of May, 1932 three hundred and silty-six thousand, five hundred and eighty-nine dollars and seventy-two cents (8366,589.72), and the said bonded indebtedness and indebtedness of every other kind and character of daid City did not exceed and does not now exceed five per eentum (5%) of the value of taxable property in said City as ascertained by the �.., said assessment made as of June I, 1929; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JEFFERSON CITY, MISSOURI, AS FOLLOWS: SECTION. I. There are hereby authorized and ordered to be prepared and issued, judgment funding bonds of the City of Jefferson City, Missouri, in the amount of seventy-one thousand, eighty-nine dollars and seventy-two cents ($71,089.72) for the purpose of funding the judgment indebtedness of said City, to be numbered from one ( I) to Severity-one (71) both inclusive, of the denomination of one thousand dollars (919000) each, except bond No. It which shall be of the denomination of one thousand, eighty-nine dollars and seventy-two cents ($1,089.72) ; that said bonds shall bear date as of the first day of June, 1932, shall bear interest at a rate hereafter to be determined, payable May I, 1933, and semi-annually thereafter on the first days of November, and May, in each year; that said interest be evidenced by appropriate interest coupons to be attached to each of the said bonds; that both the principal of and the interest on the said bonds shall be payable in lawful money of' the United States of America at the office of the City Treasurer, in the City of Jefferson, State of Missouri; that said bon's shall be executed by the Mayor and the City Clerk of the City of Jefferson City, with the seal of the City attached or impressed thereon, and the interest coupons attached thereto shall be executed by the fac-simile signature of the City Clerk; and that the said bonds shall mature, without option of prior payment, on May Ist in each of the years hereinafter set out, as follows: NUMBER AMOUNT MATURITY 1 to 3 $ 39089.72 May 1, 1933 4 to 6 39000.00 May It 1934 7 to 9 30000.00 May 19 1935 10 to 12 39000.00 May 19 1936 13 to 15 3,000.00 May 1, 1937 16 to 18 39000.00 May 19 1938 19 to 21 39000.00 May. 19 1939 22 to 24 3,000.00 May 19 1940 25 to 27 32000.00 May It 1941 28 to 31 49000.00 May It 1942 32 to 35 4,000.00 May 19 1943 36 to 39 42000.00 May 19 1944 40 to 43 4,000.00 May It 1945 44 to 47 49000.00 May 19 1946 48 to 51 49000.00 May 19 1947 52 to 55 49000.00 May 10 1948 56 to 59 49000.00 May 19 1949 60 to 63 4,000.00 May 19 1950 64 to 67 49000.00 May It 1951 68 to 71 4,000.00 May It 1952 SECTION. 2. The said bonds and coupons evidencing the interest to accrue thereon shall be in substantially the following form, to-wits 230 UNITED STATES OF AMERICA STATE OF MISSOURI COUNTY OF COIF CITY OF JEFFERSON CITY JUDGMENT FUNDING BOND NO. 1,000600 The City of Jefferson City, Cole County, Missouri, acknowledges it- self indebted and, for value received, hereby promises to pay to bearer ONE THOUSAND DOLLARS ($1,000) in lawful money of the United States of America on the first day of May, 19�9 with interest thereon from the date hereof at the rate of ,,_____,'per centum ( ° ) per annum, payable May 19 19339 and semi-annually thereafter on the first days of November and May in each year on presentation and surrender of the annexed interest coupons as they severally mature. Both principal of and interest on this bond are hereby made payable at the office of the City Treasurer, in the City of 4efferson State of Missouri, and for the prompt payment of this bond and the interest thereon the full faith, credit and resources of the City of Jefferson City, Missouri, are hereby irrevocably pledged. This bond is one of a series of seventy-one (71) bonds of like date, tenor and effect, except as td number, denomination and date of maturity, numbered from one (1) to Seventy-one ( 71) , both inclusive of the denomination of one thousand dollars ($1,000) each, except bond No. 1, which is of the denomination of $1,089 .72, aggregating the sum of seventy-one thousand, eighty-mine dollars and seventy-two cents (x'71,089.72) , issued by the City of " efferson City, Missouri, for the purpose of funding the judgment indebtedness of said City, under authority of Article VII of Chapter 15 of the Revised Statutes of hissouri for 1929, and of an election duly called and held on the 31st day of May, 1932, 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 bond is one, and by further authority of Ordinances duly adopted by the City Council of said City. It is hereby certified and recited that all acts, conditions 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 form, time and manner, as required by law; that a direct annual tax upon all the taxable property in the said City has been levied for the payment of the principal of and the interest on this bond; and that the total indebtedness of the said City, including this bond and the issue of which it is one, does not exceed any statutory or constitutional limitation.. IN 7ESTIMCNY WnREOF, the City of Jefferson City, in the State of Missouri, has executed this bond by causing it to be signed by the Mayor of said City, attested by the City Clerk, under the seal of the City, and has caused the annexed interest coupons to be executed with the fac-simile signature of the said Clerk, this: first day of *June" 1932. CITY OF JEFFERSON CITY, COLE C CIJNTY, MISSOURI, BY: Mayor. ATTEST: City Clerk. (FORM OF COUPON) No. Ilay On the first day of November, 19 , the City of Jefferson City, in the State of Missouri , promises to pay to bearer dollars ( 1 at the office of the City Treasurer, in the i-ty of Jefferson, State of Missouri., being; interest due that day on its judgment funding; bond, dated June 1, 1932, and numbered CITY OF JEFFERS 011 CITY, COLE C CUNTY, MI SS CURI ` BY: s City Clerk. .YA