07/13/1931 Meeting - Laserfiche WebLink

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~ ,- 77 - -~ - - - - -- - -~-~ - ~ ~--~- ---__ ~______ ___ ------0_- - " -- _._-- -.- -- - ~ - ---- . '- -- -- ----- BONDS" and shall be general ob lieat ions of the City of Eugene and shall be issue d e I in such denominat,ions as will in the judgment of the Common Council, enhance the i I' The bonds shall mature serially as follows; i~ salability. ~ ,. ............. $12,500.00 Five years from the date of. issue, and e $12,500.00 in each succeeding year, until the entire issue shall have been paid. and shall bear interest at a rate not to exceed six per cent per annum, payable semi-annually; and 'provided further that the council may fix the matur'ities of such bonds on such da tes and in such mon ths as shall be st conform to the counci l' s '.' c convenience in paying them, having reference to tax moneys received. Section 4. That the money derived from the sale of said.bonds shall ";f4.' canst i tu te a special fund designated "SOLDIER I S HOME F1nmn and shall be used for no 0 ther pill' pose than as herein provided. ,/\ See t i on 5.. The COlllifion Council of the City of Eugene is hereby author- ized to include in its general municipal tax levy a sufficient special lev;y to . pay the interest on said bonds and to provide a sinking fund for the payment of the same when due. Section 6. . The Co~~on Council of the City of hugene is hereby author- I ized to issue and sell such bonds at such times and in such amounts as in its judgment shall be needed for the purposes herein specified, but before any or any portion of such bonds shall be sold, the bonds or the 'portion sought to be sold shall be advertised for sale at least once each wee}: for no t less than two su.c- cessive weeks in a newspaper of general circulation printed and published within the City of Eugene, Oregon. If the bids for such bonds are not satisfactory to the Common Council, the Common Council may reject any or all of said bids and re- advertise the bond s as hereinb efore provided. The bonds shall not be sold for le s s than nine ty fi ve per cent of thei I' par value and 'bhe entire amount of accrued '~ .' in t e re st. Section 7. The indebtedness hereby authorized shall be exclusive of all other indebtedness of said ci ty authorized to be incurred by its c.harter. n The resignation of Ralph W. Weir as Patrolman was read, and on motion acc.epted" and Henry Gallagher was appointed to fill the vacancy for two weeks a t a salary of $125.00 pe I' mont h. llIoti on was made and sec onded to confirm the appointment, and the ayes and nays were called, all Councilmen voting aye, nay, none. At this time W~yor Wilder and Councilman Large were excused from attend- ance, and Counci Iman Lamb was called by the Mayor to preside over the remainder of the Council session. I An Ordinance accepting certain Courts and Lanes on behalf of the City of Eugene, and cancelling the assessments for street improvements abutting on the same was read the first time and laid over. An Ordinanc.e empowering the Police Committee of the City of Eugene to o vel' see and con tr 01 taxi cabs and taxi cab drivers and to designate convenient and suitable stands for taxi cabs in the City of Eugene, and repealing all ordinances and parts of ordinances in conflict herew'ith was read the first time, and passed its second and third readings by title by unanimous consent under sus- pension of the rule, and was placed on its final passage. The ayes 'and nays were ~ called, all Councilmen voting aye, nay, none. The Ordinance was declared passed . and numbe red 8249. .' . I ~ - ~-