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42 ORDINANCE NO. 9095 An Ordinance authorizing the issuance and sale of ~1.~8,578.96 of Improvement Bonds of the City of Eugene, Oregon, and directing that they be advertised for sale, all i.n accordance with the provisions of Chapter 21 of Title 95, Oregon Compiled Laws Anno- tated, commonly known as the "Bancroft Bonding ACTT 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 const- rutted within said city, and has assessed the cost thereof to the property abutting the- reon and benefitted thereby in accordance wit r. the provisions of the charter of said city and said city's ordinances; and WHEREAS, many of the oVmers of the property so assessed for such improvements in a sum exceeding X25.00 have duly made and signed applications to pay said several assess- ments in ten annual installments in accordance with the provisions of said Bancroft Bonding Act; and WHEREAS, an assessment and bond lien docket has been fully made up in accordance with the provisions of said bonding act, and the total amount of the unpaid assessments for said improvements and the laying of said sewers for which application has been made to pay therefor under the provisions of said bonding act is the sum of ~l~8,578.96 as shown by said bond lien docket on pages ].I.{.0 to 197 inclusive, of Volume 7. THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS; Section 1. That the City of Eugene, Oregon, does hereby authorize .the issuance and sale of General Obligation Improvement Bonds (Series B) of said City in the amount of ~SL~.,578.96 in serial form and in denominations of X1,000.00 each, except that the first bond shall be in the amount of X578.96, which issue of =bonds shall mature in namberieal order and iri ten succeeding annual installments as 'follows: A first installment in the sum of X3,578.96 on one-year from date of issue; and thereafter eight annual installments of X5,000.00 each] and a final i?istallment in the sum of X5,000.00, and shall bear interest at a rate not to exceed 6~ per annum, payable semi- annually, provided, however, that said bonds shall be subject to redemption in numerical order on interest paying dates on or after the second year from issue date. Section 2. That such bonds shall be substantially in the following form: No. ~ ~ CITY OF EUGENE, S.lATE OF OREGOFI, IMPROVEh~ENT BONDS Series B. KNOW ALL N1EN BY THESE PRENTS; That the City of Eugene in the County of Lane and State of Oregon, for value received, hereby promises and agrees to pay the bearer the sum of ~ in lawful money of the United States of America on the presentation and surrender of this obligation, on the day of , 19 , without grace, with interest thereon in like lawful money from the date hereof until paid, or until the time of the semi-annual interest payment next eznsuing the publication 1 1 1