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<br /> 22 COUNCIL BILL No. 931 - RE: RELEASING AND RELINQUISHING AND DIRECTING THE R-ECONVEYANCE OF
<br /> A S E WE R EASEMENT WAS SUBMITTED AN 0 READ THE FIRST TIME IN FULL. -
<br /> IT WAS MOVED BY ALLEN, SECONDED BY Bo 0 T H THAT THE BILL BE REA 0 THE SECOND TIME BY TIT LE
<br /> ONLY, WITH UNAN I MOUS CONSENT OF THE COUNCIL. MOTION CARRIED UNANIMOUSLY AND THE BILL WAS READ
<br /> THE SECOND TIME BY TIT LE.. 0 N L Y . .
<br /> IT WAS MOVED BY ALLEN, SECONDED BY BOOTH THAT THE RULES BE SUSPENDED Al'lD THE BI L L BE READ
<br /> THE THI RD TIME BY.TITLE ONLY, WITH UNAN I MOUS CONSENT OF THE COUNCIL. MOTION CARRIED UNANIMOUSLY
<br /> AND THE BILL VIAS READ THE T H I R 0 TIME BY TIT LE ONLY.
<br /> IT WAS MOVED BY ALL EN, , S E C,O N DE 0 BY Bo OT H THAT THE COUNCIL BILL BE APPRO VE D AND GIVEN FINAL
<br /> PASSAGE. AL L CO UNC I LMEN PRESENT VOTING AYE. DA V I S AND G RUMBA KE R ABSENT. THE BILL WAS DECLARED
<br /> PASSED AND NUMBERED 9680. .
<br /> RESo-tUTIGNS
<br /> 23 RESOLUTION - RE: AUTHORIZING CONTINUING BOR,ROWING PROCEDURE FRO M U. S. NATIONAL BANK WAS
<br /> SUBMITTED AND READ AS FOL LOWS:
<br /> "BE IT RES()jLVED, THAJ THE CITY RECORDER-TREASURER AND MAYOR OF THE ~ITY OF EUGENE;
<br /> OREGON, BE AND THE Y HEREBY ARE AUTHORIZED AND EMPOWERED TO BO R RO W MO NE Y IN THE NAME OF
<br /> SAID CITY FO R THE PURPOSE OF MEETING CURRENT EXPENSES, RETIRING OUTSTANDING BONDS ON
<br /> WAR R AN T S , OR PAYING THE INTEREST THEREON, SAID MONEY TO BE BORROWED FROM THE UNITED STATES I
<br /> NATIONAL BAN K OF PO,HT LAND (OREGON), A NATIONAL BANKING ASSOCIATION, AT ITS EUGENE BRANCH,
<br /> AGGREGATE AT THE TIME OF ANY SUCH BORROWING, INCLUDING THE AMOUNT THEN TO BE BORROWED, A
<br /> SUM EQUAL TO 80 PE R CENT OF THE TAXES LEVIED AND IN PROCESS OF COLLECTION FOR SAID CITY
<br /> FOR THE CURRENT TAX YE AR 1950-51, AN 0 80 PER CENT OF ALL OTHER BUDGETED AND UNPLEDGED
<br /> REVENUES ESTIMATED TO BE REC~IVED BY SAID CITY FROM OTHER SOURCES DURI NG SAID TA X YEA R "
<br /> BE IT FURTHER RESOLVED, THAT SAID CITY RECORDER-TREASURER AND MA YOR BE, AN 0 THE Y
<br /> HERE,BY ARE AjJTHORIZED AND EMPOWERED TO EXF=CUTE, IN THE NAME OF S,A I D CITY, TO JHE OR DE R
<br /> OF SA I 0 BA N K, PAYABLE AT EUGENE, OiREGON, GENERAL FUND. WARRANTS OF SAID CITY FOR ALL SUMS
<br /> SO BORROWED, WITH INTEREST AT THE RATE OF 2-1/2 PER CENT PER ANNUM, UPON SUCH TERMS IN
<br /> RESPECT TO TIME AND AMOUNT OR OTHERWISE, AS MAY BE AGREED UPON BETWEEN. SA 10 ,BANK: AND SAID
<br /> CITY OFFICIALS. .
<br /> BE IT FURTHER RESOLVED, T HA T THE CITY RECORDER SHALL AND HE HEREBY IS AUTHORIZED AND
<br /> DIRECTED TO DEL.I VER TO SAID BANK A COPY OF THESE RESOLUTIONS, PROPERLY CERTifiED BY HIM,
<br /> AS EVIDENCE OF THE AUTHORITY OF SAID OFFICIALS TO BORROW. SA I 0 MONE Y AND EXECUTE AND DELIVER
<br /> SAID WARRANTS IN ACCORDANCE WITH THE FOREGOING. "
<br /> IT WAS MOVED, BY BO.OT,H, SECONDED BY ALLEN THAT THE RESOLUTION BE ADOPTED. MOTION CARRIED.
<br /> 24 RESOLUTION - RE: AUTHORIZING BORROWING PROCEDURE FROM FIRST NATIONAL BAN K WAS SUBMITTED
<br /> AND READ AS FOLLOWS:
<br /> . .
<br /> " BE IT RESOLVED, THAT THE CITY RECORDER-TREASURE~ AND MAYOR OF THE C, T Y OF EUGENE,
<br /> OREGON, BE AND THEY HEREBY ARE AUTHORI ZED AND EMPOWE RE D TO BORROW MONEY IN THE NAME OF
<br /> SAID C IT Y FOR THE PURPOSE OF MEETING CURRENT EXPENSES, RETIRING OUTSTA!'JDI NG BONDS ON
<br /> WAR RAN T S., OR PA,Y I NG THE INTEREST THEREON, SAID MONEY TO BE BO RROWE D FROM THE FIRST I
<br /> NATIONAL BANK OF EUGENE (OREGON) , A NATIONAL BANKING ASSOCIATION, AGGREGATE AT THE TIME
<br /> OF ANY SUCH BORROWING INCLUDING THE AMOUNT THEN TO BE BO R ROW ED, A SUM E QU A L TO 80 PER CENT
<br /> OF THE. TAXES LEVIED AND IN PROCESS OF CO LLECT I ON FO R SAID C IT Y FOR THE CURRENT TAX YEA R
<br /> I 950-5 I , AND 80 PER CENT OF ALL OT HE R BUDGETED AND UNPLE.oGED REVENUES ESTIMATED TO BE
<br /> ; C IT Y
<br /> RECEIVED BY SAID FROM OTHER SOURCES DU R IN G S A lOT A X YE A R .
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<br /> BE IT FURTHER. RESOLVED, T HA T SAID CITY RECORDER-TREASURER AND MA YOR BE, AND THE Y
<br /> HE RE BY ARE AUTHORIZED AND EMpOWERED TO EXECUTE, IN THE NAME OF SAID C I T Y, TO THE o ROE R
<br /> OF SAID BANK, PAYABLE AT E U GE NE , ORE GON, GENERAL FUND WARRANTS OF SAID C IT Y FOR ALL SUMS
<br /> SO BORROWED, WITH INTEREST AT THE RATE OF 2-1/2 PER CENT PER ANNUM, UPON SUCH TE RMS , N
<br /> RESPECT TO T.lME AND AMOUNT OR OTHERWISE, AS MA Y BE AGREED UPON BE,TWE EN SAID BAN,K AND SA I D
<br /> CITY OFFICIALS. .
<br /> BE IT FURTHER RESOLVED, THAT THE CITY RECORDER S HA L L AND HE HEREB~ IS AUTHORIZED AND
<br /> DIRECTED TO DELIVER TO SAID BANK A COpy OF THE S E RESOLUTIONS, PROPERLY CERTIFIED BY,HIM,
<br /> AS EVIDENCE OF THE AUTHORITY OF SAID OFFICIALS TO BO R ROW SAID MONEY AND EXECUTE AND DELIVER
<br /> SAID WARRANTS IN ACCORDANCE WI TH THE FOREGOING. II
<br /> IT'WAS MOVED BY BOOTH, SECONDED BY AL LE N THAT THE RESOLUJION BE ADOPTED. MOTION CARRIED.
<br /> 25 RESOLUTION - RE ~ BARGAIN AND SALE DEED FOR SALE OF PROPERTY TO VERL A. AND ERFULO DELL
<br /> SMITH WAS SUBMITTED AND, READ AS FOLLOWS:
<br /> "BE IT RESOLV EO BY THE COMMON COUNCIL OF THE CITY OF EUGENE: T HA TV. E. JOHNSON,
<br /> MAYOR, AN D HENRY F. BE 1ST E t , RECORDER, BE, AND THE Y ARE HEREBY AUTHORI ZED TO MA KE ,
<br /> EXECUTE AND ,DELIVER UNTO VERL A. SMITH AN~ ERFULO DEll SMITH, HUSBAND AND WI Fj::, A
<br /> BARGAIN AND SALE DEED FOR THE FOLLOWING DESCRIBED RE A.L PROPERT Y, TO-WIT: I
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