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<br /> ORDIIdAP1CE N0. 929?
<br /> APJ ORDINANCE PROL'IDIIffG FL'1R 7$E ISSUANCE APJD SALE OF y~2,000,000.00 OF GEAtERAL OBLIGATION FONDS,
<br /> OF THE Or1U ISSUE At~'fHORIZED BY THE CHARTER Afl~JEPJDlI'IENT ENTITLED ~~TO IIaiPROVE AAJD ENLARGE THE ~'
<br /> ELECTRICAL AND VTATER UTILITIES OF THE CITY OF EIJGi3~rE, AND TO ISSUE X3,000,000.00 Gk~TERAL 0$=
<br /> LIGATaON AND REVENUE BONDS,~~
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<br />~ ~ THE CITY OF EUGffiNE DOES' ORDAT~1 AS FC?LLQWS:
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<br />Section 1, That there shall be issued and s nld as soon as may be g~racticable, and as
<br /> provided by J_aw, X2,000,000.00 par value of City of Eugene, Lane County, Oregon, General
<br /> Obligation Bonds, to bear interest at a rate not to exceed six per cent per annum, payable
<br /> semi-annually, to bear such date as the Common Council shall determine, with principal and
<br /> interest payable iri lawful money of the United States of America of present standard value,
<br /> to be negotiable in forts with appropriate interest coupons attached and to be in denaminations
<br /> of ~p1,000.00 each. Said bonds shall bear serial maturities and shall be payable in ten annual
<br />E installments of principal as follows:. The sum of X200,000.00 payable one year from and after
<br /> the date of issUv, the suin of 200,000.00 payable two nears after the date of issue, the
<br /> sum of X200,000.00 payable threetyears after the date of issue, the shun of X200,000.00 paw
<br /> able four years after the date of is,.,ue, the sum of $$200,000.00 payable five years after the
<br /> date of issue, the sum of X200,000.00 payable six years after the date of issue, the sum of
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<br />:200,000.00 payable seven years after the date of issue, the sum .of X200,000.00 payable eight
<br /> ,years after the date of issue, the sum of $p200,000.00 payable ten years after the date of
<br />' ~ issue; however any of said bonds shall be callable for the payment of principal at the option
<br /> of the City of Eugene upon any interest payment date cep or after -five years from the date of
<br /> issue. The principal and interest of said bends shall be payable at the office of the City
<br /> Treasurer of the City of Eugene, Lane County, Oregon.
<br /> These said bonds shall be sold to the ~aaghest responsible bidder for not less than
<br /> ninety-eight per cent of their par value and the entire amount of accrued interest there-
<br /> on, and to the bidder offering the lowest effective interest rate to the City, taking into
<br />~ ~ .consideration and account such premiums as are offered or discount offered and such items
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<br /> of cost as have been or shall b e charged
<br />by the lxi.dder in connection vrith the purchase of the
<br /> bonds, with interest being computed to the respective mntnrity dates.
<br /> The Mayor and Recorder of said City are hereby au thorized to have said b cads engraved
<br /> in a suitable manner and to execute the same on b ehalf of the City acid deliver~~ to the
<br /> City Treasl~rer who shallchliver them to the purchaser in exchange for the purchase price
<br />4 the roof at Portland, Oregon .
<br />~ Section 2. The City Recorder of said City is hereby directed to publish notice of
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<br />sale and advertise said bonds for sale at least c:¢ace each tiveek f or not less than tiro ~n-
<br /> secutive weeks in the Eugene Register--Guard, a newspaper of general circulation, printed and
<br /> published within the City of Eugene, Lane County, Oregrn, which notice and advertisement shall
<br /> call for sealed, written bids for tha purchase of said bonds to be pa~esen~ed and f fled with
<br /> the City Recorder at his office in the City Hall of said City on or prier to the hour of two
<br /> o~clock P. b~. on the 18th day of April, 19l~9, at which time and place said bids shall be publicly
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