HomeMy WebLinkAboutCityMgrForm.534.10-21-1970 , , r_
BILL NO . CITY MANAGER FORM ORDINANCE N0. 5 3
AN ORDINANCE DECLARING THE RESULT OF THE SPECIAL BOND ELECTION HELD IN
THE CITY OF CAPE GIRARDEAU, MISSOURI , ON SEPTEMBER 22, 1970, AT WHICH
ELECTION THERE WAS SUBMITTED TO THE QUALIFIED VOTERS OF SAID CITY THE
PROPOSITION TO ISSUE THE INDUSTRIAL REVENUE BONDS OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, IN THE AMOUNT OF $2 ,500,000 FOR THE PURPOSE OF
PAYING THE COST OF PURCHASING AND CONSTRUCTING AN INDUSTRIAL PLANT TO
BE LEASED OR OTHERWISE DISPOSED OF TO H.W. I . BUILDING CORPORATION, AN
INDIANA CORPORATION, FOR MANUFACTURING AND INDUSTRIAL DEVELOPMENT PUR-
POSES, INCLUDING REAL ESTATE, BUILDINGS , FIXTURES AND MACHINERY, SAID
BONDS TO BE PAYABLE SOLELY FROM THE REVENUES DERIVED FROM SAID PROJECT
FOR INDUSTRIAL DEVELOPMENT, AND NOT TO BE A GENERAL OBLIGATION OF SAID
CITY AND MAKING THE ELECTION TO HAVE THE PROVISIONS OF SECTION 103(c)
(6) (D) , INTERNAL REVENUE CODE OF 1954 , APPLY TO SAID BOND ISSUE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI , AS FOLLOWS:
Section 1. That it is hereby found and determined that the
vote at the special election held in the City of Cape Girardeau, Missouri
on September 22, 1970 , for the purpose of voting upon the proposition to
issue the industrial revenue bonds of the City of Cape Girardeau,
Missouri, in the amount of $2 ,500 ,000 for the purpose of paying the cost
of purchasing and constructing an industrial plant to be leased or other-
wise disposed of to H.W.I. Building Corporation, an Indiana corporation,
for manufacturing and industrial development purposes , including real
estate , buildings, fixtures and machinery , said bonds to be payable solel
from the revenues derived from said pro�ect for industrial development ,
and not to -be a general obligation of said City, resulted as follows :
For the Against the
WARD N0. Proposition Proposition Void
1 126 7
2 243 20
3 97 1
4 186 l0 1
5 164 � 17
6 264 15
7 221 21
8 86 6
9 90 12 1
10 111 7
11 182 11
12 67 9
13 219 17
14 208 13
15 192 11
� 16 36 1
17 52 0
18 31 2
Absentee
✓
Total 2575 180 2
Section 2. That it is hereby found, declared and determined
that more than four sevenths of the qualified voters of the City of
Cape Girardeau, Missouri , voting at said election voted in favor of
issuing the negotiable interest bearing industrial revenue bonds of
said City in the principal amount of $2,500 ,000 , and said proposition
to authorize the issuance of said bonds is hereby found and declared
carried by a vote of 2575 ballots for said industrial revenue bonds ,
and 180 ballots against the issuance of said industrial revenue bonds ,
and that the governing body of said City is therefore vested with full
power and authority to issue bonds for said purpose , as provided by
law
Section 3. That it is further found, declared and determined
that notice of said election was duly given and published in the manner
provided by law, and that said election was held and conducted and said
bond issue authorized in all respects in conformity with the Constitution
and laws of the State of Missouri, covering elections in said City.
Section 4. That said City hereby elects that Section 103(J�)
(6) (D) , of the Internal Revenue Code of 1954 as amended by the Renego-
tiation Amendments Act of 1968 shall apply to said bond issue and the
Mayor and City Clerk be and they are hereby authbrized and directed to
file evidence of said election with any appropriate officer of the
United States , including the Secretary of the Treasury or his delegate ,
and to take such other action as may be necessary to render the election
herein made effective.
Section 5. That this ordinance shall be in full force and
effect from and after its passage and approval.
PASSED by the City Council of the City of Cape Girardeau,
Missouri , this �/ S� day of , 1970.
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Mayor
ATTEST:
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City Clerk
SIGNED by the Mayor this a � b�day of , 1970 .
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Mayor
ATTEST :
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City Clerk
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