ORDINANCE NO. 8859 - Laserfiche WebLink

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3s~ ORDINAPTCE NUMBER 8859 An Ordinanoe providing for the issuance and sale of X0,000.00 Swimming Pool Bonds of the City of Eugene. THE CITX OF EUGEATE DOES ORDAIN AS FOLLOWS: Section 1. There sh all be issued and sold as soon as may be X0,000.00 par value of Swiirnning Pool Bands of the City of Eugene; such bonds to bear interest at a rate not to exceed three (3) per cent per annum, payable semi-annually; to bear such date as the Common Council shall determine; to be payable principal and interest in lawful money of the United States of America of the present standard value; to be negotiable in form with appropriate interest coupons attached; and to be in denoQninat- ions to suit the purchaser, but no bond shall exceed X1,000.00 or less than $100.00. The Bonds shall be payable in .five equal installments of principal due one, two, three, four and five years from the date of issuance. The principal and interest on said bonds shall be payable at the office of the City Treasurer of the City of Eugene, provided the Common Council and the purchaser may agree that said principal and interest shall be payable elsewhere. The Mayor and Recorder are hereby authorized to have said bonds engraved in a suitable manner and to execute the same in behalf of the City and deliver trem to the City Treasurer who shall deliver them 'moo th© purchaser in exchange for the price thereof. Said bonds shall be sold at a price to net the City not less than the ~a r value thereof with accrued interest. Section 2. The bonds shall be advertised for sale at least once each week for not less than two successive weeks in a newspaper of general circulation printed and published within the City of Eugene, Lane County, Oregon, which notice shall c all for sealed bids for the purchase of said bonds and, shall state that the Common Council of the City of Eugene will meet at the hour .of 7:30 o~elock P.M. on the 10th day of December, 19l~5, at the Council Chambers in the City of Eugene to open and consider . said bids. Such bids shall be in writing. Said notice shall state that the Council reserves the right to reject any and all bids and shall state that each bid shall be accompanied by a certified check on a bank doing business in this state, to the amount of two per cent of the price bid as evidence of good faith on the part of the bidder, and that the publication of such notice for two weeks, being three insertions, shall be deemed a sufficient publication of such notice and provided further if no satisfactory bid is received for the sale of said bonds at the time above specified, then the Common Council may readvertise the bonds in the manner and under the conditions pro- vided in this ordinance. J