08/24/1931 Meeting - Laserfiche WebLink

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~ '. 85 __.._ n__ ___._ _ --.-- -- ----.. -~ -~ -- -. ---.- - ~- n ~-_.._-_.~~--~--_.- ~ , --------' -.- - ~- , ~- ___ _ _u~ ---. - -, - '. - ~',- .... --.., ,'-" - - ~ Eugene, Lane County, Oregon, on May 27, 1929, there was apPl"'oved and adopted by " the elec tors of the Ci ty of Eugene an amendment to the Charter of said City pro- I viding for the extension of its Power and Light system and the issuance of 00 ~-~~.,"" ~.~ $1,250,000.00 of negotiable bonds for the payment for said improvement. .~.~~- And subse~uently a similar authorization was granted by the electors of said City authorizing the City Council upon application from the Water Board of the Ci ty to issue Interim Power and Light bonds at a high rate of interest and on shorter maturities during the process of construction, which Interim Power and Lightb onds were to be l~eplaced by the bonds originally authorized on longer .' maturities. And, whereas, at till s time there is out standi ng a block of $200,000.00 of Interim Powel" ancl Light bonds which in the int el~e st s of economy and good management the Water Board desires to callas of October 1, 1931, and for the purpose of refunding such bonds desires to issue $200,000.00 of the regular 5 c per cent interest limi t Powel" and Lig-h t Bond s, whi ch re fun advertised and sold in sufficient time to permit the paying of the Interim Power and Ligh t 'bonds as they shall be J?resent ed 'pursuant to call. It is Therefore Resolved by the Eugene Water Board in regular meeting assembled, that appli cat ion be and the same is hereby made to the Conwon Council I of the City of Eugene that there be forthwith issued ~200,000.00 of the original au th ori za t io n Powe l' and Ligh t bonds, and that bids be called for, for the sale of said bonds upon a seri al s chedu le as se t up in the not ice of sale which accompanies this resolution by an amortized series of maturities commencing on October 1, 1938, and terminating on October 1, 1957. 'rrhe Secretary of the Eugene \/ater Board is hereby directed to instant ly transmit to the Common Council of the City of Eugene a copy of this Resolution as an a~pplication of the E'ngene Vlater .3oard for an issuance of ~p200, 000.00 Powe I' .' and Light Bonds of the City of Eu~ene as refundil~ bonds for ~200,000.00 of Interim Power al1d Light bonds which are to be called and payment made October 1, 1931. The foregoing Resolution was duly adopted by the 1ugene Water Board at its re{;'111ar meeting held on Monday, August 10, 1931, at 7:30 o'clock P. M., and a copy ordered transmitted to the Hon. Mayor and Common Council of the City of E'u. ge ne . . Dated this lOth day of August, 1931, at Eugene, Oregon. I \ C. A. McClain, Secretary Eugene Water Board. If An Ordinance providing for the issuance and sale of Two Hundred Thousand ($200,000.00) Dollars Power and Light Bonds of the City of Eugene was read the f'i l"St time, and passed its second and thi I'd readings by unanimous consen t unde.r suspension of the .rule and was placed upon its final passage. The aye sand nays we re called, all present va ting aye, nay, none, absent Simon. The Ord.inanc was declared passed and numbered 8266. .' ....