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<br />28 CourJ.c I L BILL No. 405 - RE: VACATION CL ARK ,.
<br /> OF PA RT OF STREET BETWEEN,MoNROE AND ADAMS S TREE T WAS i
<br /> SUBMITTED AND READ THE FIRST TIME IN FU Ll .
<br />I. .-::: IT WAS MOVED BY HAWN, SECONDED GY JOHNSON T HA T THE COUNCIL BILL BE RE AD THE SE CON D TIME BY TITLE I
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<br />0 ONLY WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION CARRIED.
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<br />t'" IT HAWN,
<br /> WAS MOVED BY SECONDED BY JO HNSON T HA T THE COUNCIL B ILL BE READ THE THIRD TIME BY TITLE
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<br /> ONLY, WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION CARRIED.
<br /> IT WAS r,lOV E 0 BY HAWN, SECONDED BY CRUMBAKER T HA T THE COUNCIL BILL BE APPROVED AND GIVEN FINAL
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<br /> PASSAGE. ALL COUNCILMEN PRESENT VOTING AYE. DAVIS ABSENT. THE BILL WAS DECLARED PASSED AND
<br /> NUMBERED ~
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<br />29 COUNCIL BILL NO. 406 - RE: LEVYING ASSESSMENTS - SIDEWALK W. SIDE FILMORE BETWEEN w. BROADWAY
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<br /> AND 11TH AVENUE, REPEALING ORDINANCE 9173 WAS SUBMITTED AND REA D THE FIRST TIME IN FU L L.
<br /> IT WAS MOVED BY HA WN , SECONDED BY CRUMBA KER T HA T THE ORDINANCE BE LAID OVER AND NOTICES SENT TO
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<br /> AFFECTED PROPERTY OWNERS. MOTION CARRIEEl.
<br /> RESOLUTIONS
<br />30 RESOLUTION - RE: FINANCING PLAN FOR GENERAL FUND OPERATIONS, AUGUST I , 1948 TO JANUARY 1 , 1949,
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<br /> WAS SUBMITTED AND READ AS FOLLOWS:
<br /> . NOT
<br /> WHE REAS, THE BALANCE OF THE GENERAL FUND AS OF AUGUST I , 1948, WILL BE SUFFICIENT TO REDEEM
<br /> GENERAL FUND WARRANTS ISSUED IN AUGUST, AND
<br /> WHEREAS, TURNOVER OF PROPERTY TAX COLLECTIONS FOR THE 1948-49. LEV Y WILL I-JOT BE FORTHCOMING UNTIL
<br /> DECEMBER 15, 1948, OR JANUARY I , 1949, AND
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<br /> WHEREAS, MISCELLANEOUS REVENUES o F .T HE CITY ANTICIPATED bURIi;JG THE PERIOD AUGUST I , 1948, AN D
<br /> JANUARY I , 1949, WILL NOT BE SUFFICIENT TO FINANCE GENERAL OPERAT 10~JS OF THE CITY DURING THE SAME !.
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<br /> PERIOD, AN 0
<br /> WHEREAS, PORTIONS OF THE BALANCES OF THE SEWAGE DISPOSAL, SPECIAL C I T Y HALL AND IMPROVEMENT
<br /> BOND INTEREST FUNDS M.IOUNT I NG TO $143,OOO.~0 ARE INVESTED IN 1-1/8% U.S. CERTIFICATES OF INDEBTEDNESS
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<br /> AN D WILL NOT BE NEEDED FOR EXPENDITURE UNDER THE CURRENT FINANCIAL PROGRAM, AN 0 I
<br /> WHEREAS, THE PLAN FOR FINANCING OPERATIONS DURING THE PERIOD AUGUST I , 1948, AND JANUARY I , 1949,
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<br /> SHOULD BE THE ONE MOST ADVANTAGEOUS TO THE CITY PARTICULARLY WITH RESPECT TO INTEREST RATE ON
<br /> BO R R 0 tV , N G S AND ADMINISTRATIVE DETAIL.
<br /> "cOMMON . .
<br /> NOW,THEREF"ORE, BE IT RESO LVED BY THE COU N C I L THAT THE FOLLOWING PLAN TO FINANCE GENERAL
<br /> C I T Y .
<br /> OPERATIONS OF THE FOR THE PE R 100 Au GUST I , 1948, TO JA NUARY I , 1949, BE ADOPTED:
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<br /> A. CONVERT BLO CKS OF INVESTED FUN DS TO CASH PERIODICALLY AS NEED FOR GENERAL FUND CASH IS
<br /> FORESEEN BY SELLING THE 1-1/8% SECURITIES PRESE NT'.L Y HE L D.
<br /> B. ISSUE SHORT TERM NOTES WITHOUT DEFINITE MATURITY DATES AS AUTHORIZED BY CHAPTER 307
<br /> OREGON LAWS, 1941, IN CONVENIENT DENOMINATIONS TO BEAR INTEREST AT 1-1/2%
<br /> C. INVEST CASH REALIZED FROM SALE OF 1-1/8% C~RTIFICATES IN THE CITY'S SHORT TE RM NOTES.
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<br /> D. REDEEM NOTES IN ORDER lDF ISSUE AS BALANCES 1 N THE EST A BL ISH ED "SINKING FUND FOR SHORT
<br /> TERM NOTES" PERMIT.
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<br /> E. REINVEST SUMS RETURNED TO CITY'S SINKING FUN OS AS PROVIDED BY FUTUflE COUNCIL ACTION.
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<br /> AND BE IT RES OL V E D BY THE COMMON COUNCIL OF THE CITY OF EUGENE THAT THE TREASURER BE, AND HE IS
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<br /> HEREBY, AUTHORIZED, INSTRUCTED AND EMPOWERED TO CARRY OUT THE TRANSACTIONS NECESSARY TO EFFECTUATE
<br /> THIS PLAN.
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<br /> IT WAS MOVED BY HAWN, SECONDED BY JOHNSON THAT THE RESOLUTION BE ADOPTED. ROLLCALL VOTE. DAViS
<br /> ABSENT. MOTION CARRIED.
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<br />31 RESOLUTION - RE: PERPETUAL LEASE. THE MATTER OF A PROPOSED LEASE ON PROPERTY OWNED BY THE
<br /> UNIVERSITY OF" OREGON AT 17TH M<D AGATE STREET FOR FIRE SUB-STATION PURPOSES WAS BROUGHT ON FOR
<br /> DISCUSSION BY THE CITY M'ANAGER~'.
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<br /> CITY .
<br /> IT WAS MOVED BY HAWN, SECONDED BY CRUMBAKER THAT ,. HE OF EUGENE SEEK A PERPETUAL LEASE
<br /> FOR FIRE STATION PURPOSES OF THE PROPERTY INVOLVED, BEING A PLOT APPROXIMATELY 70 X 100 ' AT THE I
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<br /> NORTHEAST CO RNE R OF AGATE AND 17TH AVENUE. MOTION CARRIED.
<br /> UPON MOTION THE MEETING WAS ADJOURNED.
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