ORDINANCE NO. 8947 - Laserfiche WebLink

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~ 1 5 ORDINAAICE N0. 89ZI-7 An Ordinance authorizing the issuance and sale of ~11.a.,097.98 of improve- ment bonds of the City of Eugene, Oregon, and directing that they be advertised for sa.Ie, all in accordance Urith the provisions of Chapter 21 of Title 95 of Oregon Compiled Laws Annotated, corrunonly known as the "Bancroft Bonding Actn as amended. Whereas, the City of Eugene, Oregon, has heretofore caused certain streets to be improved and certain sewers to be laid and installed and certain sidewalks to be constructs d ~rrithin said city, and has assessed the cost thereof ' to the property abutting thereon and benefitted thereby in accorndance vi th the provisions~of the charter of said city and said cityts ordinances; and Whereas, many of the owners of the property sD assessed for such improve- ments in a sum exceeding 425.00 have duly made and signed applications to pe.y said several assessments in ten annual installments in accordance with the Tx-ovisions of said Bancroft Bonding Act; and V`dhereas, an assessment and bond lien ~A9ket has been fully made up in accordance with the privisions of said bonding act, and the total amount of the unpaid assessments for said improvements and the layi:~g of said sewers for which application has been made Lo pay therefor under the provisions of said bonding act is the sum of ~1~,095.98 as shown by said bond lien docket on pages 88 to 135, inclusive, of volume •7. THE CITY OF EUGENE DOES ORDAIN AS FOLIAV'TS: Section 1. That the City of -Eugene, Oregon, does hereby authorize the issuance and sale of the bonds of said city in the amount of c11F,095.98 in serial form and in denominations as may be agreed on, but not exceeding 41,000.00 each, with definite maturity dated, bearing interest at a rate not to exceed 6f per annum and subject to redemption in numerical order on interest paying date or dates, on or after the second year from issue date as in the judgment and election of the Common Council of said city may conduce the salability of the same. Section 2. That such bonds shall be substantially•in the following form: No. CITY OF EUGEAIE, STATE OF OREGON, T11~~ROVEMENT BONDS Series ~~ ~' RTdOW ALL Z'iLfil IiY THESE PRESENTS ; That tha City of Eugeno in the bounty of Lane and State of Oregon, for value received hereby promises and agrees to pay the 'Dearer the sutra of ~ in lawful money of the United States of America on the presentation and surrender of this obligation, on the day of