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<br />SECTION 3. THE BONDS HEREBY AUTHORIZED SHALL BE GENERAL OBLIGATION BONDS OF THE
<br />SA I 0 CITY, AND SHALL MATURE WITH I N TWE!NTY YE:ARS' FROM' THE' DA TE' Of I SSUE THEREOF, AND
<br />MAY BE IN SUCH FORM AND OF SUCH DENO~INATION, DUE DATE, INTEREST PAYMENT DATE, PLACE
<br />OF PAYMENT, AND BEAR SUCH ,CALLABLE FEATURES AND PROVISIONS AS THE COMMON COUNCIL MAY
<br />DEEM MOST LIKELY TO ENHANCE THEIR VALUE AND I~SURE THEIR SALEABILITY. SAID BONDS SHALL
<br />BEAR ,A RA T,E OFI,NTERE.s~ ,NOT GREATER TH,AN 6% PER ANNl!M" ,AND SHALL BE SOLD FOR NOT LESS
<br />THAN 98 PER CENTUM OF THEIR PAR VALUE AND ACCRUED INTEREST.
<br />
<br />SECTION 4. THE CHARGE FOR SERVICE UPON ALL WATER USERS, AS PROVIDED FOR IN
<br />SECTION I HEREOF, SHALL BE SET BY THE COMMON COUNC I L I N SUCH AN AMOUNT' AS W'I LL PRODUCE
<br />SUFFICIENT. RE.VEN~E TO COVER TI:',E.:C,OSY. OF.OPERATION AND MAINTENANCE. OF THE SEWAGE DISPOSAL
<br />PLANT SYSTEM, AND ALSO PR~VIDE SUFFICIEN~ REVENUE FOR THE PRINCIPAL AND INTEREST PAYMENTS
<br />ON THE BONDS HEREIN PROVIDED FOR AND FOR PAYMENT OF A COMPLETE SEWER SYSTEM AND DISPOSAL
<br />SYSTEM .A.ND SUCH REVENU,E, AFTER PAYMENT, OF NECESSARY ,OPERAT,ING AND MAl NTENANCE EXPENSE
<br />IS HEREBY SPECIFICALLY PLEDGED TO THE PAYMENT OF THE ,PRINCI~AL AND INTEREST ON THE SAID
<br />BONDS HEREIN AUTHORIZED AND PROVIDED FOR. THIS PLEDGE Of ADDI'T10NAL SECURITY SHALL BE
<br />IN ADDITION TO THE GENERAL CREDIT OF THE CITY OF EUGENE.
<br />
<br />SECTION 5. SHOULD THE SAID PLEDGED ,NET REVENUES FROM SERVICE CHARGES UPON WATER
<br />USERS BE INSUFFICIENT TO COVER THE COST OF OPERATION AND MAINTENANCE Of THE SEWAGE
<br />DISPOSAL PLANT SYSTEM, THE COMMON COUNCIL OF THE CITY OF EUGENE IS HEREBY AUTHORIZED
<br />AND DIRECTED TO INCLUDE IN ITS GENERAL MUNICIPAL TAX L~VY EACH YEAR SUCH SUfFICIENT
<br />SPECIAL LEVY AS SHALL AGGREGATE, TOGETHER WITH THE NET SERVICE ,CHARGE FROM WATER
<br />USERS AS AFORESAID, AND ANY OTHER AVAILABLE FUNDS, AN AMOUNT SUFFICIENT TO PAY THE
<br />INTEREST ON THE BONDS AND TO PAY THE PRINCIPAL OF SAID .BONDS UPON THE MATURITIES
<br />THEREOF AS I,SSUED,-WIT'HOUT RE'GARD TO ANY TAX LIMITATION PROVIDE.D BY THE CHARTER.
<br />
<br />~ECTION 6. THE:COMMON COUNCIL IS HEREBY AUTHORIZED AND ~IRECTED TO ISSUE AND
<br />'SELL SAID,:BONDS FROM'TIME TO TIME AS.THEY MAY ,BE NEEDED FOR THE PURPOSE HEREIN
<br />SPECIFIED BUT BEFORE ANY OF SAID BONDS SHALL BE SO~D, THEY SHALL BE ADVERTISED FOR
<br />SALE IN THE MANNER PROVIDED BY LAW.
<br />
<br />SECTION 7. THAT THE MONEY DERIVED FROM THE SALE OF S~ID BONDS, OR ANY PORTION
<br />THEREOF, SHALL CONSTITUTE A SPECIAL FUND TO BE USED FOR THE PURPOSES HEREINBEFORE SET
<br />fORTH IN SECTION I AND SHALL BE USED FOR NO OTHER PURPOSE.
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<br />SECTION 8. THE INDEBTEDNESS AUTHORIZED BY THIS AMENDMENT TO THE CHARTER OF THE
<br />SAID .CITY:OF EUGENE IS IN ADDITION TO ALL OTHER INDEBTEDNESS AUTHORIZED BY THE CHARTER
<br />OF ~HE .C I TY 10F "EUGENE.
<br />
<br />RESOLUT I ON ADO~:TE.D BY THE COMMON COUNC I L ' OF THE .c I TY OF EUGENE ON MARCH 1,0, 1952."
<br />
<br />I T WAS MOVED BY CRUMBAKER, SECONDED BY ,AL'LEN lHAT THE 'RESOLUTI ON BE ADOPTED. MOTION
<br />CARRIED. ..
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<br />
<br />T~E SUBJEC~ OF LEASING A TELEVISION SITE IN SKINNER'S BUTTE :PARK WAS RE-OPENED AT THE
<br />REQUEST ()F MR. LEE ,BISI-(OP"OF KORE AND MR. :5. W. MCCREADY OF KUGN. BOTH MR. BISHOP AND MR.
<br />MCCREADY R~PORTED THAT THEY HAD J~Sr MET WITH :THE EUGENE WATER & ELECTRIC BOARD ON THE
<br />POSSIBLE USE OF THECOVERED,RESERVOIR AS A SITE BUT WERE UNABLE TO GET A DEFINITE DECISION
<br />SINCE APPROVAL FOR USE OF THE RESERVOIR ,.NTHIS MANNER MUS1 FIRST BE SECURED FROM THE STATE
<br />SANITARY AUTHORITY.
<br />
<br />MR. BISHOP AND MR. MCCREADY REQUESTED THAT A MEASURE TO REQUEST AUTHORITY TO LEASE
<br />SPACE ON SKINNER'S BUTTE BE PLACED ON THE MAY 16TH BALLOT. IT WAS EXPLAINED THAT IT WOULD
<br />NOT BE POSSIBLE TO PREPARE A MEASURE WITH A SPECIFIC ~OCATION PROPEREY DESCRfBED AND FILE
<br />IT WITH THE COUNTY CLERK BY MARCH 12, 1952. No FURTHER ACTION WAS TAKEN.
<br />
<br />UPON MOTI,ON' [)ULY MADE, SEC.ONDED AND CARRI ED, THE MEEljl NG WAS ADJOURNED ro :MARCH 24,
<br />1952.
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<br />OREN L. KING,
<br />CITY MANAGER.
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