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ORDINANCE NO. ~~~G <br />AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF <br />FOUR MILLION DOLLARS 4$4,000,000} GENERAL OBLIGATION <br />BONDS OF THE CITY OF EUGENE, OREGON, AS AUTHORIZED <br />BY THE LEGAL vOTERS OF THE CITY AT A SPECIAL ELECTION <br />HELD JUNE 2~, 1979, AND DECLARING AN EMERGENCY. <br />WHEREAS, that at a special City election duly and <br />regularly called and held in the City of Eugene, ore gon, on <br />June 26, 1979, the legal voters of the City authorized the issuance <br />of banded indebtedness as follows: <br />"REVOKING PARKLAND TAX AUTHORIZATION, AUTHORIZING <br />ISSUANCE OF PARK BONDS <br />"PURPOSE: To revoke the l9?~ authorization for the <br />City Council to levy $333,333 in taxes annually for <br />expanding the City's park and recreational facilities <br />and preserving the Southhills ridgeline, and to authorize <br />the City Council to issue general obligation bonds <br />in the amount of $4,000,000 for expanding the City's <br />park and recreational facilities and preserving the <br />Southhills ridgeline and for acquiring land necessary <br />far those purposes.", <br />whereby the City Council was authorized and empowered to issue <br />and sell negotiable general obligation bonds in a sum not to <br />exceed Four Million Dollars 4$4,000,000} or such part thereof <br />as shall be necessary for the purposes set forth above. <br />WHEREAS, the City Council does hereby determine that <br />it is now expedient, convenient and necessary for the City to <br />sell Four Million Dollars 4$4,000,000} principal amount of the <br />authorized but unissued bonds for the purposes aforesaid, now, <br />therefore, <br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br />Section 1. Authorization. That for the above purposes <br />the City shall issue its General Obligation 1950 Parkland Acquisi- <br />tion Bonds in the amount of Four Million Dollars 4$4,000,ODO}, <br />to be dated July 1, 1980, to be numbered consecutively from <br />one to eight-hundred 41-500}, inclusive, to be in denominations <br />of Five Thousand Dollars 4$5,000} each, and to mature serially <br />in numerical order on the first day of July of each year as <br />follows: <br />Page 1 - Ordinance <br />