09/23/1929 Meeting - Laserfiche WebLink

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24~ -- - " -- -~- "- _." _ k _~ electors of the City of Eugene, to be adopted or rejected 'Qy them at an election which was held in said city May 27, 1929, a proposal to amend the Charter of I the City of Eugene by adding a new Chapter thereto authorizing and empowering if' the City of Eugene to extend its lighting and power system, and to issue "t~ ~~' $1,250,000.00 Power and Light Bonds, and in case of need to issue any portion :t>~ of said authorization in the form of Interim Power and Light Bonds, upon a shorter term and uQon a hig~er rate of interest. And whereas, the foregoing charter amendment further provides that,upon ap- plication of the Water Board so much and such part of the foregoing bonds as may be deemed necessary to be used with other funds for the completion of said extension shall be issued and sold as needed by the ,Common Council of the City of Eugene" and providing the form and manner of such issue and the disposition of such funds upon the books of the city. And whereas, the ext ensions for which the bonds are 'being submi tted have gone forward and t~e Eugene Water Board has expended large sums of money from other funds, in carrying on such extensions and an issue of $600,000.00 of Interim Power and Light bonds :q.ave been issued and about exhausted, and further funds are needed, I THEREFORE, be it Resolved by the Eugene Water Board in regular meeti~g assembl- ed, that application be and the same is hereby made to the Common Council of the City of Eugene that a further issue of the bonds so authorized at said election of May 27, 1929" in hhe sum of $200,000.00 be made in the manner and form in said charter amendment provided, such issue to 'be made either of Interim Power a~ Light Bonds or the regular Power and Light Bonds as the Council shail deem best after having called for bids in the al ternate, and tha t such bonds be immediately sold in the manner provided in said Charter Amendment, and the funds .placed in the Power and Light Fund upon the books of the Eugene Water Board to be disbursed in carrying on the extension of its power and light system in said city as provided in said charter amendment. A copy of this reolution shall be transmitted to the Common Council of the City of Eugene, as an application of the Eugene Water Board for the issuance of $200,000.00 of either the Interim Light and Power Bonds or the regular Power and Light Bonds of said city. The foregoing resolution was duly adopted by the Eugene Water Board at its ,regular meeting September 9, 1929, and a copy ordered transmitted to the Honor- I able Mayor and Common Council of the City of Eugene. Dated at Eugene, Oregon, Sept. 23, 1929 . C. L. McClain Secretary of the Eugene Water Board. An Ordinance providing for the issuance and sale of $200,000 of Power and Light Bonds of the City of Eugene or of Interim Power and Light Bonds of the City of Eugene, was read the first time, and passed its second and third readings by title by unanimous consent under suspension of the rule, and was placed ;1 ~