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<br />ORDIPIANCE N0. 9211
<br />An ordinance providing for the issuance and sale of X30,000.00 of General II
<br />Obligation Bonds, of the bond issue authorized by the Charter Amendment i
<br />entitled "to improve and enlarge city sewage and drainage system including ~;
<br />Amazon drainage channel and to issue ~1~00,000.00 General Obligation Bonds." ';
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<br />THE CI Ti' OF EUGEAJE DOES ORDAITd AS FOLLOWS :
<br />Section 1. That there shall be issued end sold as soon as may be ~v30,000.00 par value
<br />' of City of Eugene General Obligation Bonds, to bear interest at a rate not to exceed six per
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<br />cent per annum, parable semi-annually, to bear such date as the Common Council shall deter- ~I
<br />mine, ~rrith principal and interest payable in lawful money of the United States of American ~;
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<br />of present standard value, to be negotiable in form with appropriate interest coupons attached
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<br />and to be in denominations of X1,000.00 each. Said bonds shall bear serial maturities and ~
<br />~ shall be ~ able in fourteen annual installments of
<br />~ p~ y principal as follows: The sum of $?2,000.00 r
<br />~ payable two years from and after the date of issue, the sum of X2,000.00 payable three years ~,
<br />~ after the date of issue, the sum of X2,000.00 payable four years after the da.tc of issue, the ,'i
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<br />j sum of ~j2,000.00 payable five years after the date of issue, the sum of X2,000.00 payable ',I
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<br />six years after the date of issue, the sum of 5;;2,000.00 payable seven years after the date i
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<br />of issue, the sum of X2,000.00 payable eight years after the date of issue, the sum of X2,000.00 ~'
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<br />payable nine years after the date of issue, the sure of ,?2,000.00 payable ten years after ICI
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<br />I the date of issue, the slam of ~w2,000.00 payable eleven years after the date of issue, the
<br />sum of w~2,000.00 payable ttirelve years after the date of issue, the sum of X2,000.00 payable ~'
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<br />thirteen years after the date of issue, the sum of X3,000.00 payable fourteen years after ~'
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<br />the date of issue, the sum of $P3,000.00 payable fifteen years after the date of issue; '~
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<br />i However, all of said bonds shall be callable at the option of the City of Eugene after five ~~
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<br />years from the date of issue. The principal and interest on said bonds shall be payable at ~
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<br />I the office of the City Treasurer of the City of Eugene, provided that the Common Ceuncil
<br />and purchaser may agree that said principal and interest shall be ~~rable elsevrhere.
<br />The Mayor and Recorder are hereby authorized to have said bonds engraved in a suitable
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<br />I manner and to execute the same on behalf of the City and deliver them to the City Treasurer
<br />who shall deliver them to the purchaser in exchange for the purchase price thereof.
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<br />Said Bonds shall be sold at a price to net the City not less than par value and Accrued
<br />interest. 'I
<br />Section 2. Said bonds shall be advertised for sale at least once each vreek for not ;~
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<br />less than tyro successive weeks in a nevrspaper of general circulation printed and published
<br />within the City of Eugene, Lane County, Oregon, which notice shall call for sealed written
<br />bids for the purchase of said bonds and shall state that the Common Council of the City of
<br />Eugene vrill meet at the hour of 7:30 P.M. on the 13th day of September, 19l~8, in the Council
<br />Chambers in the City of Eugene, to open and consider said bids.. Said notice shall state
<br />that the Council reserves the right to reject any and all bids and shall state that each bid
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