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<br /> SECTION 3. THE BONDS HEREBY AUTHORIZED SHALL BE NEGOTIABLE GENERAL OBLIGATION BONDS I
<br /> OF THE SAID CITY 'I'N SERIAL.FORM AND ARE TO MATURE NOT LESS THANTWO YEARS, NOW MORE THAN
<br /> TWENTY YEARS) FROM DATE OF' ISSUE THEREOF, AND MAY BE IN SUCH FORM' AN~ OF SUCH DENOMINATION, !,
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<br /> DUE DATE, INTEREST PAYMENT DATE, PLACE OF PAYMENT, AND BEAR SUCH CALLABLE ,FEATURES AND II
<br /> II
<br /> PROVISIONS AS THE COMMON COUNCIL OF THE CITY OF EUGENE MAY DEE~ MOST LIKELY TO ENHANCE "
<br /> II
<br /> I SAID BONDS SHALL BEAR A RATE OF 'I
<br /> I THEIR VALUE AND INSURE THEIR SALEABILITY. I NTEREST NOT I,
<br /> GREATER THAN 6% PER ANNUM, AND SHALL BE SOLD FOR NOT LESS THAN 98 PER CENTUM OF THEIR PAR I'
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<br /> VALUE AND ACCRUED INTEREST. THE BONDS ISSUE~ PURSUANT TO AUTHORITY ~EREBY GRANTED SHALL I'
<br /> BE KNOWN AS LIBRARY BONOS OF THE CITY OF EUGENE. I ~
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<br /> SECTION 4. THE COMMON COUNCIL OF THE CITY OF EUGENE ' il
<br /> IS HEREBY AUTHORIZED AND DIRECTED I
<br /> I TO INCLUDE IN IT~GtNtRAL MU~I~IPAL TAX LE~Y t~CH YEAR SUC~ SUF~ICjtNt SptCIAL LEVY AS II
<br /> I ~ITH ~NYOTHER AVAILABLE FUNDS, AN AMOUNT sUFflCjENT TO ~AY THE
<br /> SHALL AGGREGATE, INTEREST Ii
<br /> ON THE BONOS AND TO PAY THE PRINCIPAL OF SAID BONDS UPON MATURITIES THEREOF AS ISSUED, ,I
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<br /> WITHOUT REGARD TO ANy'TAX LIMITATION PROVIDED BY THE CHARTER. I
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<br /> SECTI ON 5. THE COM~ON COUNCIL IS HEREBY AUTHORIZED AND DIRECTED TO ISSUE AND SELL ,i
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<br /> SAID BONDS FROM TIME TO TIME AS THE FUNDS FROM THE SALE THEREOF MAY BE NEEDED FOR THE !! e
<br /> PURPOSES HEREIN SPECIFIED, BUT BEFORE ANY OF SAID BONDS SHALL BE SOLD, THEY SHALL BE II
<br /> IN THE MANNER PROVIDED BY SECTIONS 287.002 "
<br /> ADVERTISED FOR SALE, AND THEY SHALL BE SOLD 'I
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<br /> - ' , OR~GON REVISED STATUTES, II
<br /> TO 287.008, I,~,CLUSI VE, AND ANY AMENDMENTS THERETO. "
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<br /> I SECTION 6. lHE MONEY DERIVED FROM THE SALE or SAID BONOS, OR ANY PORTION THEREor,
<br /> SHALL CONSTITpTE A SPECIAL FUND KNOWN AS THE LIBRARY CONSTRUCTION FUND FOR THE USE AND
<br /> BENEFIT OF THE CITY OF EUG~NE, AND SHALL BE USED FOR NO OTHER PURPOS~ THAN HEREIN SPECI- I
<br /> FlED. . . :
<br /> SECTION 7. 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 THE CITY OF EUGENE.
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<br /> THIS RESOLUTION ADOPTED AUGUST 23, 1954."
<br /> IT WAS MOVED BY DR. CRUMBAKER, SECONDED BY MR. BOOTH THAT THE RESOLUTION BE ADOPTED.
<br /> I ROLLCALL'VOTE. MOTl ON CARR I ED.
<br />23 COUNC1L'BILL No. 1773 - RE: ORDERING SPECIAL ELECTION FOR ACQUIS1TION OF SITE FOR '.'
<br /> LIBRARY, ISSUANCE AND SALE OF $700,000.00 GENERAL OBLIGATION BONDS WAS SUBMITTED AND READ THE
<br /> FIRST TIME I N FULL.
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<br /> : IT WAS MOVED BY DR. CRUMBAKER,: SECONDED BY MR'. BOOTH ~HAT THE-BILL BE READ THE SECOND
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<br /> I TI ME BY TITLE ONLY, WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION CARRIED UNANIMOUSLY AND
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<br /> THE BILL WAS READ THE ,ECOND TIME BY TITLE ONLY.
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<br /> IT WAS MOVED BY DR. CRUMBAKER, SECONDED BY MR. BOOTH'THAT THE RULES BE SUSPENDED AND
<br /> , '. . WITH UNANIMOUS CONSENT OF THE COUNCIL. MOTION
<br /> THE BILL BE R~AD THE THIRD TIME BY TITLE ONLY,
<br /> CARRIED UNANIMOUSLY AND THE BILL WAS READ THE THIRD TIME BY TITLE ONLY.
<br /> IT WAS MOVED BY DR. CRUMBAKER, SECONDED BY MR. BOOTH THAT THE COUNCIL BILL BE APPROVED I
<br /> AND GIV~N FINAL PASSAGE. ALL COUNCILMEN PRESENT VOTING AYE. THE BILL WAS DECLARED PASSED
<br /> AND NUMBERED 10477.
<br /> UPON MOTION DULY MADE, SECONDED AND CARRIED, THE MEETING WAS ADJOURNED.
<br /> RESPECTFULLY SUBMITTED,
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<br /> ROBERT A. FINLAYSON,
<br /> . CITY MANAGER.
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