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<br /> SECTION 7. THAT THE MONEY DERIVED FROM THE SALE OF SAID BONDS, OR ANY PORTION THEREOf,
<br /> S HA LL CONSTITUTE A SPECIAL FUND FOR THE USE AND BENEfiT OF THE SAID Eu GE NE WATER BOARD, AND
<br /> S HA LL BE USED FOR NO OTHER PURPOSE THAN HE REI N SPECIFIED. I
<br /> SECTION 8. THE INDEBTEDNESS AUTHORIZED BY T HIS AMENDMENT TO THE CHARTER OF THE SAID CITY
<br /> , 0-, Eu GENE
<br /> ,,'I OF IS IN ADDITION TO ALL OTHER INDEBTEDNESSES AUT HO R I ZED BY T HE CHARTER OF THE C I T V
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<br /> . ..,;.'~'" OF EUGENE.
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<br /> tY CHARTER AMEN OMEN T
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<br /> GC AN ACT
<br /> To AMEND THE CHARTER OfT HE C I T Y OF EUGENE, O'REGON, BY ADDING A NEW CHAPTER I
<br /> THERETO, PROVIDING AND DIRECTING THAT THE COMMISSION KNOWN AS THE "Eu GENE WATER BOARD",
<br /> CREATED BY THE AMENDMENT TO THE CHARTER Of SAID CITY ADOPTE D AT A S PE C I A L CITY ELECTION
<br /> HELD IN THE CITY Of EUGENE ON APRIL 18, 1908, AND THEREAFTER COMPOSED UNDER AND PURSUANT
<br /> TO ORDINANCE No. 1088 OF SAID C i T Y" PASSED BY THE COMMON COUNCIL'OF SAID CITY ON THE 20TH
<br /> FEBRUARY, 1911 , MAYOR C I T Y, THE'27TH FEBRUARY :'
<br /> DAY Of AND APPROVED BY THE OF SAID ON DAY Of
<br /> 1911 , S HA L L HE RE AFTER BE KNOWN AND DESIGNATED AS "EUGENE WATER & ELECTRIC BOARD", RETAINING
<br /> AND REMAINING VESTED WITH AND SUCCEEDING TO . EACH A NO ALL Of THE POWERS, AUTHORITIES AND
<br /> DUTIES OJ:" SAID EUGENE WATER BOARD PROVIDED BY CHARTER PROVISION OR ORDINANCE OF SAID C'T Y.
<br /> .
<br /> THE C I TV OF EUGENE DOES ORDAIN AS FOllOWS:
<br /> BE IT ENACTED BY THE LEGAL VOTERS OF THE C I T Y OF EUGENE, OREGON, THAT THE CHARTER
<br /> Of SAID CITY BE AMENDED BY ADDING THERETO A NEW CHAPTER TO READ AS FOLLOWS:
<br /> SECTION I . THAT THE COMMISSION KNOWN AS THE liEu GENE WATER BOARD", CREATED BY THE AMEND-
<br /> MENT TO THE CHARTER Of THE C IT Y OF EUGENE, LANE COUNTY, ORE GO N , ADOPTED AT A SPECIAL C I T Y !
<br /> ELECTION HE LD IN THE SA.ID CITY ON APRIL I tl , 1908, AND THEREAFTER COMPOSED UNDER AND PURSUANT
<br /> TO ORDINANCE NO. 1088 Of SAID CITY, PASSED BY THE COMMON COUNCIL THEREOf ON THE 20TH DA Y 0 f
<br /> FEBRUARY, 191 I , AND APPROVED BY THE MA YOR OF SAID C IT Y ON THE 27TH DA Y OF FEBRUAR Y, 1911 ,
<br /> SHALL HERERAfTER BE KNOWN AND DESIGNATED AS "EUGENE WATER & ELECTRIC BOARD", RETAINING AND
<br /> "
<br /> REMAINING VESTED WIT H AND SUCCEEDING TO EACH AND AL L Of THE POWERS, AUTHORITIES AND DUTIES ':
<br /> Of SAID EUGENE WATER BOARD PROviDED' BY CHARTER PROVISION OR ORDINANCE Of SAID CITYe
<br /> , CHARTER AMENDMENT
<br /> I
<br /> AN ACT .
<br /> !
<br /> To AMEND THE CHARTER Of THE C I T Y OF EUGENE, LANE COUNTY, OREGON, BY A!)D IN G A NEW
<br /> CHAPTER THERETO, AUTHORIZING AND EMPOWERING THE Eu GENE WATER BOARD TO BORROW fROM ANY
<br /> BAN K OR BANKS UNDER SHORT TERM LOANS OF LESS THAN ONE YEAR, AND AT SUCH RATE OR RATES OF
<br /> INTEREST AND TERMS OF REPAYMENT AS SHALL IN THE JUDGMENT Of THE EUGENE WATER BOA RD BE
<br /> DEEME 0 EXPEDIENT, CONVENIENT AND NE CESS AR Y F'O R THE USE AND BENEFI T Of SAID EUGENE WATER
<br /> BOARD IN THE CONDUCT A NO MA INTENANCE OF THE WATER AND ELECTRICAL UTILITIES OF SA-ID CITY;
<br /> PROVIDING, HOWEVER, THA T THE TOTAL AMOUNT OF I NDE BTEDNESS OF SAID EUGENE WATER BOARD ON
<br /> SAID SHORT TERM LOANS SHALL NOT AT ANY ONE TIME EXCEED THE AGGREGATE AMOUNT Of 8500,000.00,
<br /> AND AUTHORIZING THE EUGENE WATER BOARD TO SECURE THE PA YMENT THEREOf BY WAY Of PLEDGING
<br /> OR OTHER HYPOTHECATION, AS COLLATERAL FOR AN Y SUCH LOAN OR LOANS, SUCH ASSETS Of THE SAID
<br /> CITY UNDER THE CONTROL Of THE EUGENE WATER BOARD AS MAY BE AVAILABLE THEREFOR, AND AS THE
<br /> S~ID EUGENE'WATER BOARD SHALL DEEM IT EXPEDIENT, CONVEN lENT AND NECESSARY.
<br /> THE C I TV OF EUGENE DOES ORDAIN AS FaLLOWS:
<br /> BE IT ENACTED BY THE lEGAL V OT E RS Of THE CITY Of EUGENE, OREGON, T HA T THE CHARTER OF SAID
<br /> C I T Y BE AMENDED BY ADDING THERETO A NEVI CHAPTER TO RE A D AS FOLLOWS:
<br /> SECTION I . THAT THE EUGENE WATER BOARD, ACTING fOR AND ON BEHALf Of THE C IT Y OF EUGENE,
<br /> lANE COUNTY~ OREGON, BE AND IT IS HEREBY AUTHORIZED AND EMPOWERED TO 90 RROW fROM AN Y BANK OR
<br /> BAN KS UNDER SHORT TERM LOAN S OF' LESS THAN ONE YEAR, AND AT SUCH RATE OR RATES Of INTEREST
<br /> AND TERMS OF REPAYMENT AS S HAL L IN THE JUDGMENT Of T HE' EUGENE WATER BOARD BE DEEMED EXPEDIENT, I
<br /> CONVENIENT AND NECESSARY FOR THE USE AND BENEFIT OF SAID EUGENE WATER Bo A R D IN THE CONDUCT AND
<br /> MAINTENANCE OF THE WATER AND ELECTRICAL UTILITIES Of SAID C I T Y; PROVIDING, HOWEVER, THAT THE
<br /> TOTAL AM 0 U N T OF INDEBTEDNESS OF SAID EUGENE WATER BOARD ON SAID SHORT TERM LOANS S HALL NOT AT
<br /> AN Y 0 NE . TIME EXCEED THE AGGREGATE AMOUNT OF' $500,000.-00.
<br /> SECTION 2. THAT THE SAID EUGENE WATER BOARD IS HEREBY AUTHORIZED AND EMPOWERED IN ORDER
<br /> TO SECURE THE PA YMENT Of ANY SUCH LOAN OR LOANS TO PLE DGE OR OTHERWISE HYPOTHECATE, AS
<br /> COLLATE'RAL fOR ANY SUCH LOAN OR LOANS, SUCH ASSETS OF THE SAID CITY UNDER THE CONTROL Of THE
<br /> EUGENE WATER BOARD AS MA Y BE AVA I LA BLE THEREFOR, AND AS THE SAID EUGENE WATER BOARD SHALL :' I
<br /> DEEM IT EXPEDIENT, CONVENIENT AND NECESSARY.
<br /> SECTION 3. THE I NDE BTEDNESS AUTHORIZED BY T HIS AMENDMENT TO THE CHARTER OF THE SAID CITY
<br /> Of EUGENE IS IN ADDITION TO ALL OTHER INDEBTEDNESSES AUTHORIZED BY THE CHARTER Of THE CITY Of
<br /> 'EUGENE; AND, FURT HER, THAT THE INDEBTEDNESS AUTHORIZED BY THIS CHARTER AMENDMENT S HAL L NOT BE
<br /> CONSIDERED WIT H I N AN Y DEBT LIMITATION PROVIDED B Y T HE CHARTER OF' SAID CITY OF EUGENE.
<br /> BE, AND 'THE SAME ARE BY THE COMMON L.OUNCIL DU L Y , AND IN THE MANNER PROVIDED BY LAW, SUBMITTED
<br /> C I T Y REJECTION OR ADOPTION SPECIAL CITY ELECTION TO BE ,
<br /> TO THE LEGAL VOTERS Of SAID fOR AT A 'I
<br /> DUL Y AND LEGALLY CALLED; AND
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