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<br />ORDINANCE N0. 9270
<br />AN ORDIPIAA'CE I'HOVIDIT~IC= FOR THP; ISSI7ANCFi AND SALE OF ~l~0,000.00 OF GEPTERAL
<br />OBLIGATIOPI 1~P1D.9, OF THIS, BOPdD IS~)UE A]7THORIZED BY TIDE CHARTER AMENDPtI~NT
<br />ENTITLED "TO IMPROVE AND ~1LARGF. CITY SF~~"~fAr,E AND DIIAINAGE SYSTI,M INCLUDING
<br />AMAZON DNAIPIAGE CHANNL'L ATv'D `i'0 ISSUF $~1~00;000.00 GEP1EI~l~L OBLIGATIOPI BOPIDS."
<br />T1~: CITY OF FUC=EAtE DOES ~JRDAIN AS FOLLOVdS
<br />Section 1. That there shall be issued and sold as soon as may be ~1~0,000.00 par value
<br />of Cit~r of Eugene General Obligat;_on bonds, to .bear interest at a rate not to exceed six per
<br />cen per annum, payable semi-annually, to bear such date as the Common Council shall determine,
<br />with principal and interest payable in laVrful money of the united States of America. of pre-
<br />sent standard value, to be negotiable in form yvith appropriate interest coupons attached and
<br />to be i_n denominations of X1,000.00 each. Said bonds shall bear serial maturities and shall
<br />be payable in fourteen annual installments of principal as follows: The sum of ~1,000.0U
<br />payable ttivo years from and after the date of issue, the sum of ~~3,000.00 payable three years
<br />after the date of issue, the sum of X3,000.00 payable four years after the date of issue, the
<br />sLUn of X3,000.00 parable five years after the date of issue, the sum of `3,000.00 payable six
<br />years after the date of issue, the sum of y~3,000.00 payable seven ,years after the date of
<br />issue, the sum of ~p3,000.00 payable eight years after the date of issue, the sum of X3,000.00
<br />payable nine ,years after the date of issue, the sum of y~3,000.00 pa gable ten years after the
<br />date of issue, the sum of v~3,000.00 payable eleven years after the date of issue, the sum of
<br />x,3,000.00 payable twelve years after the date of issue, the stun of $p3,000.00 payable thirteen
<br />years after the date of issue, the sum of :3,000.00 pa,aable fourteen years after the date of
<br />issue, the sum of X3,000.00 payable fifteen years after the date of issue; however, all of
<br />said bonds shall be callable a.t the option of the City of Eug=ene after five years from the
<br />date of issue. The principal and interest on said bonds shall be payable at the office of
<br />the City Treasurer of the City of Eur;ene, provided that the Common Council and purchaser may
<br />agree that said principal and interest shall be payable elsewhere.
<br />The D.4ayor a1 d Recorder are hereby authori zed to have said bonds engraved in a suitable
<br />manner anal to execute the same on behalf of the City and deliver them to the City Treasurer
<br />who shall deliver th~>m to the purchaser in exchange for the purchase price thereof.
<br />Said bonds shall be sold at a price to net the City not less than }ter value and accrued
<br />interest.
<br />Section 2. Said bond shall be advertised for s<<le at least once each week for not less
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<br />than two successive weeks in a nevrspaper of general circulation, printed and published within
<br />the Cit~r of Eu; erg, Lane County, Oregon, which notice shall call 1'or sealed written bids for
<br />the purchase of said bonds and shall state that the Common Council of the City of Eugene will
<br />meet at the hours of 7:30 p.m. on the - day of __^_ , 199, in the Council
<br />Chambers in the City of Eugene, to open and consider said bids. Said notice shall state that
<br />the Council reserves the right to reject any and all bids and shall state that each bi.d shall
<br />be accompanied b,y a certified check on a bank doing business in this state in an amount equal
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