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203847Original to City Clork ORDI PRESENTED BY J^ Council File No. 203847— Ordinance No. f 12057 — By Milton Rosen — An Ordinance providing therefor and authorizing the issuance and sale by the City of Saint Paul of additional bonds of said City in the par value amount of Four Hundred Thousand 1Dollars 0400,000.00), authorized by Chapter 685, Session Laws of Minne- sota for 1957, as amended by Chapter 495, Session Laws of Minnesota for 1961, for the procurement of additional fir.• -esssr' "''� tv"-- "'*°'�1n..,.�.,.._._. ---� -� NO. NO. D AN ORDINANCE PROVIDING THEREFOR AND AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF SAINT PAUL OF ADDITIONAL BONDS OF SAID CITY IN THE PAR VALUE AMOUNT, OF FOUR HUNDRED THOUSAND DOLLARS ($400,000.00), AUTHORIZED BY CHAPTER 685, SESSION LAWS OF MINNESOTA FOR 19579 AS AMENDED BY CHAPTER '4.959 SESSION LAWS OF MINNESOTA FOR 1961, FOR THE PROCURE- MENT OF ADDITIONAL NECESSARY FUNDS, IN THE AMOUNT OF 'FOUR HUNDRED THOUSAND DOLLARS ($4009000.00)9 FOR PAYMENT ON ACCOUNT OF SAID CITY'S SHARE OF THE COST AND EXPENSE OF FLOOD CONTROL IN SAID CITY, AND FOR THE RMPOSE OF MATCHING FUNDS ALLOCATED BY THE UNITED STATES GOVERNMENT FOR THAT PURPOSE, THEREUNDER, AND IN ACCORDANCE WITH THE .PROVISIONS, TERMS AND CONDITIONS OF SAID CHAPTER 685, SESSION LAWS OF MINNESOTA FOR 19579 AS AMENDED BY CHAPTER 4959 , SESSION LAWS OF -- MINNESOTA FOR 1961. THIS IS _AN EMERGENCY ORDINANCE RENDERED NECESSARY FOR THE PRESERVATION OF THE PUBLIC PEACE, HEALTH AND SAFETY. ` WHEREAS,•Pursuant to the Resolution of the Flood Control Committee of the United States House of iRepresentatives, the District Engineer, C8hp.9 of Engineers, U': S.YArmy, Saint Paul District,-.heretofore instituted, conducted and_,c.ompl @ted.- an investigation for the purpose of making a determination as to the advisability of providing flood control along the Mississippi River above the mouth of the Missouri River,, which involved an interim survey of flood and related problems at and in the vicinity of said City of Saint Paul; and WHEREAS, It is demonstrable from said investigation and the drawings and descriptions of the proposed Flood Control Project Plan based thereon and on surveys connected therewith as developed by said District Engineer, that the construction, maintenance and operation of such proposed Flood Control Project is essential to proper protection of the public peace, health, safety and general welfare .of said City of Saint Paul and its inhabitants and essential to the proper protection of 'life, limb and property within the corporate limits of said City of Saint Paul; and WHEREAS, Said Council of said City of Saint Paul, by its Resolution, Council File No. 176049, approved December 9, 1955, has approved said proposed Flood Control Project, for said City of Saint Paul, as outlined and proposed by said District Engineer, and declared its intention and willingness to cooperate with the Federal Government in the construction, m8ilatenance and- Yeas Councilmen Nays DeCourcy Holland Loss Mortinsoan Peterson Rosen Mr. President (Vavoulis) Attest: City Clerk 1:41 5 -00 8 Passed by the Council Tn Favor Against Approved: Mayor W. 2'3817 O 2 - operation of said proposed Flood Control Project, and in such connection as conditions precedent to the construction of said proposed Flood Control Project, said City of Saint Paul will be required to give assurances to the Secretary of the Army that said City of Saint Paul will: (a) Provide without cost to the United States all lands, easements, and rights -of -way necessary for the construction of the project. (b) Hold and save the United States free from damages due to the construction works. (c) Maintain and operate the improvements after completion in accordance with regulations prescribed by the Secretary of the Army. (d) Make at its own expense all necessary changes _to utilities, highways, and highway bridges including approaches. (e) Furnish, in a contribution equal cost of the project,, of -way and necessary contribution being ci $1,100,000.00, and cash or equivalent construction, to 14.3 per cent of the first exclusive of lands and rights - road and bridge changes, the arrently estimated at approximately WHEREAS, said Chapter 685, Session Laws of Minnesota for 1957, as amended by Chapter 495, Session Laws of Minnesota for 1961, by its provisions authorized the issuance and sale of the bonds of the City of Saint Paul in the aggregate par value amount of On( Million One Hundred Thousand Dollars ($1,100,000.00),,* said City, for the procurement by said City of the necessary funds, in said aggregate amount, for payment on account of said CIty's share of the cost and ex- pense of Flood Control in said City, and for the purpose of matching funds allocated by the United States Government for that purpose, thereunder, and in accordance with the provisions,, terms and conditions of the same whereof said City, thereunder, issued and sold the bonds of said City, for said public purposes, in the par value amount of Seven Hundred Thousand Dollars' ($700,000.00),. and WHEREAS, it is deemed necessary that said City of Saint Paul issue and sell additional bonds of said City of Saint Paul in the par value amount of Four Hundred Thousand Dollars ($400,000.00), authorized by Chapter 685, Session Laws of Minnesota for 1957, as amended by Chapter 495, Session Laws of Minnesota for 1961, for the purpose of the procurement,by said City of SAiAtiPaul, of additional funds in the amount of % 20387 _ 3 _ t2,0s-7 Four Hundred Thousand Dollars ($400,000.00) necessary for pay- ment on account of said City's_share of the cost and expense of flood control in said City and for the purpose of matching funds allocated by the United States Government for that purpose under said proposed Flood Control Project Plan as the same is now oonstituted and as the same shall be amended or extended; THE COUNCIL OF THE CITY OF SAINT PAUL DOES ORDAIN: SECTION 1 That the City of*Saint Paul issue and sell, from time to time, additional bonds of said City, in the par value amount of Four Hundred Thousand Dollars ($400,000.00) authorized by Chapter 685, Session Laws of Minnesota for 1957, as amended by Chapter 4.95, Session Laws of Minnesota for 1961, for the purposes of the procurement, by said City, of additional funds in the amount of Four Hundred Thousand Dollars ($$400,000.00)9 for the payment thereof on account of said City's.share of the cost and expense of flood control in said City and for the purpose of matching funds allocated by the United States Government for the purpose of flood control therein under said proposed Flood Con- trol Project Plan as the same is now constituted and as the same shall be amended or extended, thereunder, and in accordance with the provisions, terms and conditions of said Chapter 685, Session Laws of Minnesota for 1957, as amended by Chapter'495, Session Laws of Minnesota for 1961. SECTION 2 That each issue of said bonds shall be authorized �,- by resolution of the Council and shall be in the form of serial bonds and the same shall bear such date and mature at such times as such resolution shall prescribe, provided that the first in- stallment of each issue of said bonds shall mature not later than three (3) years from and after the date of the same and the last installment of each issue of said bonds shall mature not later ,. than thirty- (30)'years from and after the date of the same; -�.. that no amount of . principal of each issue of said bonds payable in -any calendar year shall exceed five (5) times the amount of the smallest amount of principal maturing in any calendar year ending three (3) years ar more -after the date of issue of the same; and that said bonds shall be issued and sold by said City, in the mpanner provided by law. That said bonds shall be in the denomination of $1000.00 each and shall bear interest not in excess of six per cent (6 %)•per annum payable semi - annually according to interest coupons to be attached to the same; that said bonds shall be in the form prescribed by the Council of said City and approved by its Corporation Counsel; and that said bonds shall bear such interest as said City Council shall prescribe, and shall be sold by said City Council for not 1 9,03 _ 4 - / ;� ° less than par value plus accrued interest, to the highest bidder therefor, after two weeks' published notice of the time and place for receiving bids thereon. That the proceeds from the issuance and sale of said bonds, as, received by said City, shall be deposited by it in a fund of said City designated as "Flood Control Project Fund" allocated thereto and subject to disbursement only for the purpose aforesaid, in payment on account of said City's share of the cost and expense of flood control in said City and in matching of funds allocated by the United States Government for that purpose, under said proposed Flood Control Project Plan as now constituted and as the same shall be amended or extended in the manner and for the purpose prescribed by said Chapter 665, Session Laws of Minnesota for 1957, as amended by Chapter 495, Session Laws of Minnesota for 1961. That the proceeds of the issuance-and sale of said bonds hereby are appropriated thereto and shall be used only in pay- ment of said City's share of the cost and expense of flood con- trol in the City of Saint Paul and in matching of funds al- located by the United States Government for that purpose, under said proposed Flood Control Project Plan as now constituted and as the same shall be amended or extended, in the manner and for the purpose prescribed by Chapter 685, Session Laws of Minnesota for 1957, as amended by Chapter 495, Session Laws of Minnesota for 1961. That said bonds shall be payable in lawful money of the United States of America, at the Office of said City's Commissioner of Finance, in said City of Saint Paul, or at the Office of the Fiscal Agent of said City in either Saint Paul, Minnesota, or New York, New York, at the option -of the holder, and the full -faith and credit of said City hereby are irrevocably pledged for the prompt and faithful payment of both principal and interest of said bonds. - - SECTION 3 That each of said bonds shall be sealed by the facsimile of the Official Seal of'said City lithographed thereon and signed by the lithographed facsimile signature of its Mayor, attested by the lithographed facsimile signature of its City Clerk, and countersigned manually by the City Comptroller, and each interest coupon thereto attached shall be signed by the lithographed facsimile signatures of its said Officers. SECTION 4 That said City's proper officers hereby are au- thorized, directed and required to set aside annually from the revenues of said City an amount sufficient for the payment of the interest on said hereby authorized bonds and the principal of any such bonds maturing in such year and hereby are authorized, directed and required to make a sufficient tax levy for the pay- ment of the same under and pursuant to the provisions of Chapter 475, Minnesota Statutes 1957, as amended. That such tax levies Original to City Clirk J I ORDINANCE COUNCIL FILE NO. 20384 PRESENTED BY ORDINANCE NO. /,3 v 7-- - 5 - for all years shall be specified and shall be such that if collected they will produce at least 5 per cent in excess of the amount needed to meet, when due, the principal and interest on said bonds. That each such tax,.levy shall be by resolution of the Council of said City which shall, among other things, irrevocably appropriate the taxes thereby levied to said City's sinking fund or special sinking fund or account for the payment, when due, of the principal and interest on said bonds. That such provisions of this Section are in addition to the pledge of the full faith and. credit of said City for the payment of said bonds and are not in lieu of such pledge. SECTION 5 This ordinance is hereby declared to be an emergency ordinance rendered necessary for the preservation of the public peace, health and safety. SECTION 6 This ordinance shall take effect and be in force from and after its passage, approval and publication. Yeas Councilmen Nays DeCourcy Holland Loss p Mortinson Rosen Mr. President (Vavoulis) AttT :/ L City Clerk iM 5 -00 s SEP 2 7 1961 Passed by the Council C/� Tn Favor 0 Against Approved : Z SEP 2 7 �96� Mayor — Iq (.0 1�L]�LISI Duplicate to kr1P .r PRESENTED BY ORDINANCE COUNCIL FILE NO. 203817 ORDINANCE NO. /-;� ©J AN ORDINANCE PROVIDING THEREFOR AND AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF SAINT PAUL OF ADDITIONAL BONDS OF SAID C ITY IN THE PAR VALUE AMOUNT OF FOUR HUNDRED THOUSAND DOLLARS ($400 000.40), AUTHORIZED BY CHAPTER 685 AESSION LAWS OF MINNESOTA FOR 1957, AS AMENDED BY CHAPTER-4959 SESSION LAWS OF MINNESOTA FOR 19619 FOR THE PROCURE- MENT OF ADDITIONAL NECESSARY FUNDS„ IN THE AMOUNT OF'FOUR HUNDRED THOUSAND DOLLARS ($400-000.00); FOR PAYMENT ON ACCOUNT OF SAID CITYIS SHARE OF THE COST AND EXPENSE OF FLOOD CONTROL IN SAID CI'T'Y, AND FOR THE RMPOSE OF MATCHING FUNDS ALLOCATED BY THE UNITED STATES GOVERNMENT FOR THAT PURPOSE, THEREUNDER* AND IN ACCORDANCE W TH THE PROVISIONS TEEMS AND CONDITIONS OF SAID CHAPTER 9859, SESSION LAWS OF MINNESOTA FOR 1957, AS AMENDED BY CHAPTER 495, SESSION LAWS OF MINNESOTA FOR 1961. THIS IS AN EMERGENCY ORDINANCE RENDERED NECESSARY FOR THE PRESERVATION OF THE PUBLIC PEACE, HEALTH AND SAFETY, WHEREAS, Pursuant to the Resolution of the Flood Control Committee of the United States House of Representatives, the District Engineer Coipt 6f Engineers, U. S. Army, Saint Paul District, heretofore instituted* conducted and completed an investigation for the purpose of making a determination as to the advisability of providing flood control along the Mississippi River above the mouth -of the Missouri River, which Involved an interim survey of flood and related problems at and In the vicinity of said City of Saint Paul; and WHEREAS, It is demonstrable from said investigation and the drawings and descriptions of the proposed Flood Control Project Plan based thereon and on surveys connected therewith as developed by said District Engineer, that the construction, maintenance and operation of such proposed Flood Control Project is essential to proper protection of the public peace, health, safety and general welfare of said City of Saint Paul and its inhabitants and essential to the proper protection of life# limb and property within the corporate limits of said City of Saint Paul; and WHEREAS, Said Council of said City of Saint Paul, by Its Resolution, Council File No. 176049, approved Deceihber 9, 1955, has approved "said proposed Flood Control Project, for said City of Saint Paul, as outlined and proposed by said District Engineer, and declared its intention and willingness to cooperate with the Federal Government in the construction, maintenance and Yeas Councilmen Nays DeCourcy Holland Loss Mortinson Peterson Rosen Mr. President (Vavoulis) Attest: City Clerk iM a -so 8 Passed by the Council Approved: Mayor Favor Against � -' r . red " _`' .'a• -•, �., :r' r ,r` I 0 .•. - . �'r','+ I 1'M•• _ .: - f .' ... `r '. . ' , - ri r~ r `' +_• +u.1 •' •- `•} ilat' e -a_`V Ind ,. ._'C `a •. - ,` n '_ - W847 : operation of .said �iroposed FI6od Control ' Pro eat; and in Such e connection as abnditione,pr6aedent t6 the construction of said pr ©_ p need Flood, Cd trill =''Pro jest ` -said City off; Saint -Paul will ' ` be3 required 'td "'give, asaurainQe' to the`S „esaretery of thg Arniy that said city, bf Saint 'a tl will -( )' Provifla` wit1 ©i.t c4et -to 4the ~Unified- .S.tates . : - ' -all' lands,>- easement-ad st.n 'rights:' - of"W.ay necessary :t0i the construction of the, pr6ject,• Ol `and',`save.�the' Un_iteed' States, ;free. from,. y damagee due to "the eonstruction works':'. 1 r tai lMaintBin and 'operate the 'improvements. after ' aompletign sea ©rdanee xith regulations presaribed e by_ the, Secretary; -of the Aarmy,.: Make 'at.° .its: ;own expe 'se all - necessary changes- to .t'il ties.' highways ajkd.,''highway, bridges ',inaludinig approaohes, - Ce) Purnisfi Iin "oasb or equivii: nt' _ constructiou j _ . 1 a contribution :equal •to, 14:3 pur 'cent of ,the Tirst, oust ©f the pro jsat; ec3.usiva ©f ].ands and rights df -way and neoesear road. and _�ri,dge ohangea j _ -the . pontr. ibutIdn being currently estimated at. app,roaimately • si,:loo _000.0011 ,and„ z i WAESEAS; said'Chapter 6SN Sessioh'Laws of Minrieacita - ;for 1957,”: as amexid6d by - Chapter 495.0 `Session, 'Laws of Minnesota for:" 1961 by its provisions °_authorised. the issuenee,, and sale of the• bonds -,of • the ` City 6f--S' - •Saint, Pain: in the aggregate par > value amount of ng MiJlicen On e hundred Thousand Dollars 01,100,000 00) : , by said City for the . procuremeent , by. said City pf, the necessary und . n said a�greget' i amountf payment an- account' of seidGit3�''s share of the coat and :ex,: penee, -of Flood- 'Control- in a,aid , C ty "ari�1 for the purpose of ` . matching' funds allgaated' by the ' United, States Dover t6ht for + •. i that purpose,, ther..euuder and, in accordance with -the provisions,,- # - _ terms and 00 dttions of'- &78 same sherie0f eai City thereund ®r� = issued and . s,old - t`he bonds ai' :$aid C sty for. said public purpcees,r' in the' par value amount 'of- Seven hundred. Thousand Dollars WH EAS;+ it is de ®mad, ieoe sery±.that sold 'CI of r. t Saint Paul' ise ze and '�xel -1 :additional bonds 'of -said {City of - Saint Paul•.`in the.,par val.uee'.azttount- 'of Fdur Hundred` Thousand , = :Dollars 0400,000,00); authorized: by Chapter ,685t, Session LaWS- :. °... -,of Minnesota'•for 1957 %as emende-d by Chapter "495,; Session .tawa- E�f� Minnesota -for .1961 • i'or. the ose 'of ,the proauremen- b 1 , pub ' y said City of ; fii3tiiaau :, of additi�on�al • funds .i.�a .the, amount' of •,; V '„- .•. n ,i., r : " .•_ -r •r ry ,r - •,, ,aJy ^ ^1. •t\ . +, -. ' ' V - .— .: Four HUndred.`Th6usand Dollars- a($4Ooj,00q oo) necessary for pay- }_ ,meat on ,accoiunt of .said `Citys share df the ;lost and, e�cpee of flood aontro]. in. sa id.. C ity; and _fpr'- the purpose - of match ,funds s3:lbcated by;' the iTnited• States Government 'for ''that purpose' under said proposed= Blood Control Pro jest Plan as- the same., is now ; :constituted an , as the 'same' ,shell' be amended or _ext4ended; . THE, ',COUNCIL OF THE CITY- OF` SAINT PAUL' DOES ;OIMAINV ' SECT I01t .1 -That. •the•'City` of Saint --Paul -issue: and'.sellq -from time to timo� -addi'tional, -fonds of said City.; in the—, -ar value amount,, - - r Y. • of Four, Hundred Thousand Dollars . 400;400::00) authorized by , `Chapter:` 685, Session `Laws of .Minnesota._ Yor 1957, gas' amended by CYiapter 495,' Session Laws of• _Minnesota , 'for• 1961, f or' the purposes of the `pr6rurem6nt,•• by, said City.,. of .,.additional funds in the Y a�lbnt of Four Hundred 'Thousand Aollars (400.,00000 }.� fQr the _'payment' "thereof on, accaount of said- C it, Ia_ -share .of ,the cost and eperise' of. flood control; An said City and for. the purpose of t. tAtohing funds allocated by . the United' States. - Government for. the ' purpose. of flood control; therein under said 'proposed Flood Con-.,.' on- .,. �'trol -Project Plan, as the same' is novr 'constitu,ted- and .Os 'the same. . , shall 'be- amended 'or exi;ended,* thereunder -;' _arid ' in. '- adcordanee with the rovisibns-' terms' and ,conditions of shill..- Chapter 685, Session p ,s• ,Lawns of' Minnesota .for 1957, as'_ amended by -, Chapter 495, Session F Laos of 2innesota for x:961; " - r . l =, • . - . • _ .: a� •_ r • • ,-,. ' • .: I = M1-SE6T'ON �2 , ^ '-' .; *, That neach; issue ``of , .said' barids� sYiall T"�e authorized . resolutiorit of 'the.; Cot ,nail arid, .shali = be _, I the -form-of sQrial• { ° bonder end the same' shad. bear such date and- ­ taature at such times as sudh resolution'shall'-p'resoribe provided—that. the first in. - . - r 'stallment-- of, each' `issue_ ;of 'said bonds 'shall mature not later 'than' three , (3), years `•fr`om;- and�.a_fter,-- the „, date 300 ':the 'same -and the la $t r .nstallrnent of `eaaYi -ja$ e► - -bf 4 Aid• °bonds'. shell mature not later .. thian= thirty, (30) = years,'- frowrand' after, the” date, of the same; F ; that. +no: mount• of principal,= of',ea4h issue `of_ �snid bonds* payable - 5 in any calendar year , shall • exceed'._f,ive .•(5) times, the amount, of the smallest amount ;''of principal�.'meturing .Aii •any, calendar ' ` year encling .three f 3) :years ©r.. more after the .date of issue - ' of the same; :and • that -,s4d bonds bhal'i be - i -sued , and sold ;by , said' City! in the Vannes •prodded by law. That '.said bonds -' e - shall'-be •in the denominat3.on of 1QOa:00' esah. anti shall bear ' interest, not in e�aaas * of six per. cent. ;♦ t 6 ) , p.er annum payable , , semi•= annudlly: aodording to,l itereat coupons to,'ben attached to the same ;• `that said.,bor3ids `shall -be in` the form pre'scri.bed` by the ' Council'= of said Citq, and 'ap�iroved by !its- ,Corporation- Counsel; and that, said bonds shall: bear, -such interest 'gs said city Council. -- - shall- pre_ soribe, and- $hfll l 'be .sold,' by e$ id �-C ty : Council for not •,/ • ', •" �`,, _ ,- ••I _r .V. •.d i r. r. r�,. yt; •- ' •F`• • ° y� • 4. t ?.. -!:, , r .` • r. - - . Y �.• ' - - •_ '�`' r. a _ 'S . ' +I'a, r • 5` _^ .. .fit' .'- -� ,`• f , -..• ,.. -.t _ - _ 1. ♦ -.6 . _ .. i ` ♦; - .. ,+ { ._ 4 .. / ,. .' ♦ '�, - •. a "�,, r• •" ••', 1 r` ' • •} -•. y 4hr ,rt a '- t. -- `� T..• • 1 ~{ 1 • 1• ' a; ` ` . ' - - ♦ ,. 1• - ir. i%! ' .. _• 1 . `,� } C l - ♦< ; +r .. ••y• rr ' . - r {•a -j ` i'' ,. • •, - _ _; }" • '_ -• - -• • r - .Y. _- r - 4 . {` , it '''.! • _ • ,- •'- !'_`r -- ..- r]- rod• r .. ` , # �k' - .Yr• ? s 4`t . - '�, 'w�'• ,, .. _ r , ae •.'_ e - ,r .. �t1 ,' • •• :f1 -- a -,P. * i � ' - • t' tY - - �" • -, - _ r ,'q. r, ,` , •- ' }' ' :` - ` ' _` • 1i • ..1 - `rr.• • r yl0•„ 4.. 1' V `' _1 ' -- i, _ - 7,* 1`�• �v/ / /I •,T ',t ♦� +' lees than :par yvaliie pind ecorued. - interest,° fib' t ie Y�ighest bidder, ther -efor, after ,tiro, weeks! 'published,riotice� of the time = and place-"for reccivirig bids' thereon;; . That', the _'procseeds 'from . tYis iesuar�ce;�and sale' of" a- id -bonds;` as rece�ved'fby sa�;d City; r !. l be `.deposited ' by'--it, .'a dea_ignat ®d" ii,shal . , ae:,. ".Floods' Controi•, Pro j Oct • Fund" Aloceted . thereto -and sub j eat ' to' - disbursement' only ',for -the- purpose aforssald, in payment od Y account; of sa:d'.City!s shire of the' cost 'and expsnse of: flood ° S t- _ control .in said,,City and An, matohing of funds allocated- by the r' }- . Unite d States Gov$rriment' fora that purpose;- ,under said' proposed ;Y i '_Flood- 'Control; Project �P'1an aS now -gonstituted -arid ai8 the. -. same: y. shall be: amended - or extended - in %the manhOr. and for the purpose �- p escr bed •by.'sa'id,Chapter.6 S ssion Laws -of. Minnesota' for .195' ', asr ame- -ride b Cha ter5, Session' Lags of ''14fnnesota for ` :,. . :. P. X95, 1961..? ` That the proceeds of the 'issuance a aY�d sale of said bonds hereby are appropriated. thereto and 'shrill'_ be used only, in. pay -' 'r,�f• -went of Feaid..Cityts., share of the'. `cost" and expensa of flood,.con in'the'City-.Of Sault.PauY and in- 'matching -'of funds a}: - °� := ].ac.ated`'by .the'.Uni' feel _5t;ate9- .Govarnment>' f'or that �urpbee; 'under' " " • ,said proposed Flood Control- ,:?ra jest plan .as ;.now constituted and,, a I' the same 'shall _ be `amended - .or. extended; _;'in the manner' .4nd for ` -'` the'purpose prescribed by •Chap,ter'68 ,5, - Session Lawn• of Mirinesot_ a for 1957;`'as amerid.erl by Ckiap er "495,:. ,Bess -,bii Lawd'�ef. Minnesota.- _ - j:'y , far =1961. ='TYiat ,said 1?c�nds shall be payable' in" lawful money of ,. ,: ;r the.United, States cif Ameri,ca'�'. at 'the,..Office'-of ''said 'City's-- • ; Commissioner df'Fi.nance�.= in:said: City of. Saint Pau_,,' or.,at ;the'_ Off ,of_$ tYie Ri�cal `14gent pf -,said ,City- n either ' -Saint Paul-#. Hiniaesata., ° or New York, New. York, at ',the"' opt ion , ot�Ah6`_holder,. : - • and, the ;full faith '.and credit " of sa'id`City hereby are - _irrevocably: . f or' the prgmpt and - faithful - payment `of ` bot_ h' principal, and Interest of .said 'bond f :. •. = - SECTION -3 That,Ot(61,-6k",paid:bonds shail,-be` sealed- by' the _ ' - • ' .facsimile, of the Official -Seal' of said -;city lithographed- ' thereon' and_ signed: by, the �lithographed" ,facsimile signature _of ' its Mairt $heated. by,tha 1lthograplied' facsimile "signature. of. i;ts,gity Clerks arid- 'countersigned inarivallY by= the' .sty = Comptroller;, 'and eaaY ,. ,i terest ooupgn ,thereto 'att'a' shall be signed,,by, the lithographed' faasi'ipile,' �I gna tures of =its said - Officers SiCTIOI-14 '.That aald,,Clty '4 proper bffieees••'Vi,ereby are_ au- ' thoriaed, directed `and ►egos.► ®d - to. -get as'id® 'anuuelly from the .t. - - rev.enuda-• of said Gi y,- iii',amount-'suffiaient "fors {the �aayment of. Ail r , . 'the interest 93 said hereby aubhori: ed' b0-nde ancl' the prineiRa1 of any suoh bonds ituring- :in.•suoh year, and'he'reby� are authorizedi'. �' K =,directed,'andA� required to make a'•- sUfficient tax levy- for. t'he pay -, - r,. ment 'of� the same` -under .,arid pursuant. to ►the provi.ei6fis - of Chapter = :MU- Mo'sota - - Staat {tte8 -1957, �;-sz 'ameiid:ed. Th8 such- tax =1Qa i.es.'_ t V• ' - fit''• - ,, _ ti +w ,_. - , . - - - �' 'rr,`: � _ - `t . ''(, r.' - t . _ - '.., . ; ". .vim, , r .�•.�t' 'fir :(- 4 r- ,.:�;A f.'� -q k : �_ •'ji .i T• _�'g - •. ' -. .• - _ ' - r - -' ,•y: .•y5T AZT � 4 x'q•'_ ..�,• •iA , -7. -'` ,i•.,i•i , +:! .�; •Y•'^5-t� , - ., ' ' -0- �`'' s _ 't •',v i• '` -rV•' u -_ c � - f• _..�• _•ifs,, {,' - •. .y - .' •- •' -i° �T'..fj- - ,.' c•• • `' - ` .. -l; .: , r Vii, r l *• ` • _. •, - •.. -,., `' * J ' F r.I- Duplicate to Printer PRESENTED BY ORDINANCE 03847 COUNCIL FILE N - 5 - ORDINANCE NO. /;� 0 for all years shall be specified and shall be ouch that if collected they will produce at least 5 per cent in excess of the amount needed to meet, when due, the principal and interest on said bonds. That each such tax le shall be by resolution of the Council of said City which shat among other things♦ irrevocably appropriate the taxes thereby levied to said City•s sinking fund or special sinking fund or account for the payment, when due, of the principal and interest on said bonds.. That such provisions of this Section are in addition to the pledge of the full faith and credit of said City for the payment of said bonds and are not in lieu of such pledge. SECTION 5 This ordinance is hereby declared to be an emergency ordinance rendered necessary for the preservation of the public peace, health and safety. SECTION 6 This ordinance shall take effect and be in force from and after its passage, approval and publication. Yeas Councilmen Nays DeCourcy Holland Loss Mortinson -Reterson- Rosen Mr. President (Vavoulis) Attest: City Clerk IM 6-so qeW8 iW Passed by the r cil Approved: SEP 2 7 1961 In Favor Against SEP � 7 W u Mayor lsf 2n Laid over to 9 `l 3rd and app Adopts Yeas Nays Yeas Nays DeCourcy DeCourcy Holland Holland Loss Loss Mortinson Mortinson Petersen 0 41eteraan- Rosen Rosen Mr. President Vavoulis Mr. President Vavoulis s 2038A