HomeMy WebLinkAbout009 - 10/28/1932 - AUTHORIZING THE ISSUANCE OF REGISTERED WARRANTS IN THE TOTAL AMOUNT OF $50,000 BEARING INTEREST NOT ORDINANCE NO 92 1932
BEING AN M/FERGE TCY ORDINANCE AUTHORI,,I!\.'G THE ISSUANCE OF REGIS-
TERED WARRANTS IN THE TOT4L 42TOUATT OF FIFTI' THOUSAND (�50 000 00)
DOLLARS BEARING INTEREST TOT TO EXCEED SIX PER CM T PER ANNUTVT
ON ACCOUNT OF AN ENERGaTCY ARISING IN CONNECTION WITH TIC' 1CQUIRING
OF A MrJNICIPAL ELECTRIC LIGHT AYD POWER SYSTEM FOR THE CITY OF
FORT COLLINS
WHEREAS, since the adoption of the annual appro-
priation ordinance for the fiscal year ending December 31, 1932, an
emergency and unforeseen contingency has arisen, whereby it has
become and is necessary to pay not to exceed the sum of Fifty
Thousand C�50,000 00) Dollars on account of the acquiring of a
municipal electric light and power system for the Citv of Fort
Collins, as provided in Section 24 of Article XVIII of the City
Charter, adopted September 12, 1932, and the public necessity re-
quires an additional appropriation of public funds therefor
THEREFORE, BE IT ORDAINED BY TEE CITY COUNCIL OF
TFE CITY OF FORT COLLITTS
Section 1 That there be and hereby is appropriated
out of the general revenues of the City of Fort Collins for the year
1933 and subsequent years, as may hereafter be directed by the City
Council, unless taken up prior thereto, the sum of Fifty Thousand
(�50,000 00) Dollars on account of the acquiring of a municipal
electric light and power system for the City of Fort Collins, as
provided in Section 24 of Article XVIII of the City Chartei ,
adopted September 12, 1932, and registered warrants of the City
shall be issued to corer the amount required therefor not to exceed
the sum of Fifty Thousand ('�)50,000 00) Dollars, said warrants to
bear interest at not to exceed the sum of 6% per annum, the denom-
ination of said warrants and the rates of interest within the limit
above mentioned to be as directed by the Commissioner of Finance,
which said sum when this ordinance shall take effect, shall. be
-1-
credited on the books of the City Clerk and City Treasurer
respectively, to Municipal Light and Power Fund
Section 2 All funds so advanced for the
purpose of acquiring a municipal electric light and power
system shall be reimbursed from funds arising from the sale of
municipal electric light and powei interest bearing revenue bonds,
as provided by Section 24 of Article XVIII of the City Charter,
when funds therefrom are available
Section 3 In the opinion of the City Council
an emergency exists fol the preservation of the public health,
peace and safety, ana this ordinance shall take effect upon its
passage under and by virtue of the authority contained in Sections
6 and. 7 of Article IV of the City Charter
Introduced, read at length and adopted by the
unanimous vote of all members of the City Council at a regular
meeting held this 28th day of October, A D 1932
Commissioner of Safety and Ez-Officio
ATTEST Mayor
City Clerk
STATE OF COLORADO )
ss
County of Larimer )
I , A J ROSEPTOW City Clerk of the
City of Fort Collins do hereby certifj and declare that the
aforesaid Ordinance, consisting of three (3) sections, was duly
proposed and read at length at a regular meeting of the City
Council held on the 28th day of October, A D 1932, and was
duly adopted and ordered published in the Fort Collins Express-
Courier, a daily newspaper and the official newspaper of the
City of Fort Collins, by the unanimous vote of all members of
the City Council, as an Emergency Ordinance, in accordance with
the provisions of Sections 6 and 7 of Article IV of the City
Charter and thereafter and on to-grit the 1st day of
November, A D 1932, said Ordinance No 9, was duly published
in the Fort Collins Express-Courier, a daily newspaper published
in the City of Fort Collins, Colorado
IN WITNESS uIIETREOF I ha re hereunto set
my hand and affixed the seal of said City, this lst day of
November,A D 1932
City Clerk