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<br /> 545
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<br /> THE SALES PRICE OF THE PROPERTY IS $40,000.00, AND THE PURCHASE OF IT MAY BE
<br /> HANDLED FOR $10,000.00 DOWN AND THE BALANCE OVER A PERIOD OF TEN YEARS, PAYABLE
<br /> ANNUALLY PLUS FIVE PER CENT INTEREST. EVEN THOUGH THESE TERMS ARE SUBMITTED, THE
<br /> OWNERS WOULD NATURALLY RATHER HAVE ALL CASH THAN TERMS.
<br /> WE WOULD GREATLY APPRECIATE IT, IF THE CITY OF EUGENE IS INTERESTED, THAT WE
<br /> MIGHT HAVE YOUR ANSWER IN A VERY SHORT PERIOD SO THAT WE MIGHT PROTECT THE CITY ON I
<br /> THE PURCHASE OF I To I
<br /> I
<br /> ;
<br /> i
<br /> THANKS VERY MUCH FOR YOUR CONSIDERATION AND FAVORABLE REPLY. "
<br /> IT WAS MOVED BY CRUMBAKER, SECONDED BY SMITH THAT THE COMMUNICATION BE REFERRED TO
<br /> THE AIRPORT AND FINANCE COMMITTEES. MOTION CARRIED.
<br /> ORDINANCES I
<br /> 14 COUNC I L BI LL No. I 149 - RE: SIDEWALK ON THE NORTH SIDE OF 24TH AVENUE BETWEEN ONYX
<br /> AND EMERALD AT 2395 ONYX STREET WAS I
<br /> SUBMITTED AND READ THE FIRST TIME IN FULL. I
<br /> IT WAS MOVED BY CRUMBAKER, SECONDED BY BOOTH THAT THE BILL BE READ THE SECOND TIME BY I
<br /> TITLE ONLY, WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION CARRIED UNANIMOUSLY AND THE BILL I
<br /> WAS READ THE SECOND TIME BY TITLE ONLY.
<br /> I IT WAS MOVED BY CRUMBAKER, SECONDED BY BOOTH THAT THE RULES BE SUSPENDED AND THE BILL
<br /> BE READ THE THIRD TIME BY TITLE ONLY, WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION I
<br /> CARRIED UNANIMOUSLY AND THE BILL WAS READ THE THIRD TIME BY TITLE ONLY. I
<br /> I
<br /> I
<br /> IT WAS MOVED BY CRUMBAKER, SECONDED BY BOOTH THAT THE COUNCIL BILL BE APPROVED AND !
<br /> GIVEN FINAL PASSAGE. ALL COUNCILMEN PRESENT VOTING AYE. ALLEN ABSENT. THE BILL WAS I
<br /> DECLARED PASSED AND NUMBERED 9888. i
<br /> - I
<br /> RESOLUTIONS I
<br /> RESOLUTION - RE: I
<br /> 15 AUTHORIZING CONTINUING BORROWING PROCEDURE FROM FIRST NATIONAL BANK ,
<br /> I
<br /> WAS SUBMITTED AND READ AS FOLLOWS,: I
<br /> I !
<br /> i
<br /> I "BE IT RESOLVED, CITY RECORDER-TREASURER AND MAYOR CITY EUGENE, ,
<br /> THAT THE OF THE OF ,
<br /> i
<br /> Ii OREGON, BE AND THEY HEREBY ARE AUTHORIZED AND EMPOWERED TO BORROW MONEY IN THE NAME OF I
<br /> SAID CITY FOR THE PURPOSE OF MEETING CURRENT EXPENSES, RETIRING OUTSTANDING BONDS ON i
<br /> I
<br /> WARRANTS, OR PAYING THE INTEREST THEREON,'SAID MONEY TO BE BORROWED 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 BORROWED, A SUM EQUAL TO 80 PER
<br /> CENT OF THE TAXES LEVIED AND IN PROCESS OF COLLECTION FOR SAID CITY FOR THE CURRENT
<br /> TAX YEAR 1951-52, AND 80 PER CENT OF ALL OTHER BUDGETED AND UNPLEDGED REVENUES ESTIMATED
<br /> TO BE RECEIVED BY SAID CITY FROM OTHER SOURCES DURING SAID TAX YEAR.
<br /> BE IT FURTHER RESOLVED, THAT SAID CITY RECORDER-TREASURER AND MA Y 0 R BE, AND THEY
<br /> HEREBY ARE AUTHOR!ZED AND EMPOWERED TO EXECUTE, IN THE NAME OF SAID CITY, TO THE ORDER
<br /> OF SAID BANK, PAYABLE AT EUGENE, OREGON, GENERAL FUND WARRANTS OF SAID CITY FOR ALL
<br /> SUMS SO BORROWED, WITH INTEREST AT THE RATE OF 3 PER CENT PER ANNUM, UPON SUCH TERMS
<br /> I IN RESPEC T TO TIME AND AMOUNT OR OTHERWISE, AS MA Y BE AGREED UPON BETWEEN SAID BANK
<br /> AND SAID CITY OFFICIALS.
<br /> BE IT FURTHER RESOLVED, THAT THE CITY RECORDER SHALL AND HE HEREBY IS AUTHORIZED
<br /> AND DIRECTED TO DELIVER TO SAID BANK A COPy OF THESE RESOLUTIONS, PROPERLY CERTIFIED
<br /> BY HIM, AS EVIDENCE OF THE AUTHORITY OF SAID OFFICIALS TO BORROW SA 10 MONEY AND EXECUTE
<br /> AND DELIVER SAID WARRANTS IN ACCORDANCE WITH THE FOREGOING. "
<br /> I TWAS MOVED BY BOOTH, SECONDED BY CRUMBAKER THAT THE RESOLUTION BE ADOPTED. ROLLCALL
<br /> VOTE. MOTION CARRIED.
<br /> 16 RESOLUTION - RE: AUTHORIZING CONTINUING BORROWING PROCEDURE FROM U. S. NATIONAL BANK
<br /> ! WAS SUBMITTED AND READ AS FOLLOWS:
<br /> "BE IT RESOLVED, THAT THE CITY RECORDER-TREASURER AND MAYOR OF THE CITY OF EUGENE,
<br /> OREGON, BE AND THEY HEREBY ARE AUTHORIZED AND EMPOWERED TO BORROW MONEY IN THE NAME OF
<br /> SAID CITY FOR THE PURPOSE OF MEETING CURRENT EXPENSES, RETIRING OUTSTANDING BONDS ON
<br /> WARRANTS, OR PAYING THE INTEREST THEREON, SAID MONEY TO BE BORROWED FROM THE UN I TED
<br /> I STATES NATIONAL BANK OF PORTlAND (OREGON), A NATIONAL BANKING ASSOCIATION, AT ITS.
<br /> I EUGENE BRANCH, AGGREGATE AT THE TIME OF ANY SUCH BORROWING, INCLUDING THE AMOUNT THEN
<br /> I TO BE BORROWED, A SUM EQUAL TO 80 PER CENT OF THE TAXES LEVIED AND IN PROCESS OF
<br /> I
<br /> COLLECTION FOR SAID CITY FOR THE CURRENT TAX YEAR 1951-1952, AND 80 PER CENT OF ALL I
<br /> OTHER BUDGETED AND UNPLEDGED REVENUES ESTIMATED TO BE RECEIVED BY SAID CITY FROM OTHER I
<br /> SOURCES DURING SAID TAX YEAR. I
<br /> I
<br /> I
<br /> I
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