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<br />,3.
<br />
<br />THAT S,TOP SI.GN.S B,E PLACED ON 17TH, AVENUE EAST
<br />ORCHARD" STREET.
<br />
<br />TO S~OP ~RA~~IC'ENTERING
<br />
<br />:.1. .
<br />
<br />4.
<br />
<br />THAT THE ALLEY BETWEEN 7TH AND 8TH AVENUES ~ROM POLK TO TAYLOR STREETS
<br />(ADJACENT TO, THE WEST SI DE BRANCH, OF' THE rl RST NATI ONAL' BANK' OF' PORTLAND)
<br />BE MADE nONE-WAY~,WEST BOUND FOR ONE HAL~ THE'DISTANCE BETWEEN POLK AND
<br />TAYLOR STREETS. " ,
<br />
<br />,5. THAT THE PARK'I NG, ON' THE NOR,TH, 51 DE O~, 18TH :AvENUE 'F'OR F'I F'TY FEET TO THE WEST
<br />f'ROM I,TS INTERSECTION WI TH, OLI VE STREET BE REMOVEO'.
<br />
<br />THIS RESOLUTION ADOPTED THIS 23RD DAY Of' JANUARY, 1956~"'
<br />
<br />IT WAS MOVED BY MR. BOOTH, SECONDED BY MR. GODLOVE, THAT THE RESOLUTION BE ADOPTED. MOTION
<br />CARRIED.
<br />
<br />32
<br />
<br />RESOLUTION - RE: CALLING f'OR AN ELECTION TO AUTHORIZE THE EUGENE WATER AND ELECTRIC BOARD
<br />TO SELL REVENUE BONDS IN THE AMOUNT OF' EIGH,T AND ONE-HALF' MILLION DOLLARS TO f'INANCE CONSTRUC-
<br />TION O~ A DAM AT BEAVER-MARSH WAS SUBMITTED AND READ AS f'OLLOWS{
<br />
<br />"BE IT RESOLVED BY THE COMMON COUNCI L OF' THE CI TY Of' EUGENE, ,LANE ,COU,NTY, OREGON,
<br />THAT THE F'OLLOWING PR~POSED AMENDMENT TO THE CHARTER Of' SAID CITY BE AND THE SAME HEREBY
<br />IS PROPOSED f'OR SUBMISSION TO THE LEGAL VOTERS O~ SAID CITY FOR ITS ADOPTION OR REJECTION
<br />AT A SPECIAL ELECTIO~ TO BE HELD O. THE 27TH DAY O~ MARCH, 1956. THE AMENDMENT IS AS
<br />~OLLOWS:
<br />
<br />CHARTER AKNDMENT SUBMITTED TO THE: :.,
<br />
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<br />
<br />VOTERS BY THE COMMON COUNCIL
<br />
<br />AN ACT
<br />
<br />To AMEND THE CHARTER OF' THE CITY O~ EUGENE, LANE COUNTY, OREGON, ,BY ADDING A NEW
<br />CHAPTER THERETO AUTHORIZING,AND EMPOWERING THE CITY O~ EUGENE,:ACTINGBY AND THROUGH"THE,
<br />EUGENE WATER AND ELECTRIC BOARD, TO ADD TO, EXTEND, AND IMPROVE THE ELECTRIC UTILITY
<br />SYSTEM BY CONSTRUCTlNG,AN ADDITIONAL POWER PROJECT ON,THE,McKENZIE.RIVER IN,THE,VICINITY
<br />O~ CLEAR LAKE, AND,AUTHORIZING,THE ACQUIRINGO~ ALL PROPERTY, REAL AND PERSONAL,
<br />NECESSARY OR CONVENIENT IN PROVIDIN~ SAID PROJECT, AND PROVIDING F'OR THE ISSUANCE O~
<br />REVENUE BONDS OF' THE CITY,IN THE AMOUNT OF' EIGHT MILLION rIVE HUNDRED THOUSAND DOLLARS
<br />($8,500,000.00) PAYABLE,ONLY ~ROMTHE REVENUES OF' SAtD ELECTRIC UTILITY~,
<br />
<br />BE IT ENACTED BY.THE LEGAL VOTERS or THE Ct-TY OF. EUGENE, OREGON, THAT THE CHARTER
<br />OF' SAID CITY BE AMENOED BY ADDING THERETO ANEW CHAPTER TO',READ AS ~OLLOWS:-
<br />
<br />"CHAPTE,R
<br />
<br />"SECTION'I.THE CITY OF' EUGENE, ACTING BY AND THROUGH THE EUGENE 'WATER & ELECTRIC
<br />BOARD, IS HEREBY AUTHORIZED TO,ADD TO, 'ENLARGE, IMPROVE ANO:EXTEND ITS ELECTRIC
<br />UTILITY SYSTEM BY THE CONSTRUCTION Of' AN ADDITIONAL POWER PROJECT ON THE McKENZIE
<br />RIVER AT OR NEAR BEAVER MARSH AND IN THE VICINITY O~ CLEAR LAKE, BEING APPROXIMATELY
<br />75 MILES EAST O~ AND WITHOUT THE CITY. IN PROVIDING SAID IMPROVEMENT, SAID BOARD
<br />IS AUTHORIZED TO BUILD AND,CONSTRUCT DAMS, RESERVOIRS, TUNNELS AND POWER:HOUSES AND
<br />TO ACQUIRE BY CONDEMNATION:OR PURCHASE ALL WATER RIGHTS, LICENSES, REAL ESTATE,
<br />RIGHTS O~ WAY ,AND EASEMENTS WITHIN AND WITHOUT THE CITY AS MAY BE NECESSARY OR
<br />CONVENIENT, AND TO PURCHAS~,'CONSTRUCT AND INSTALL GENERATORS, TRANSMISSION~INES,
<br />SUBSTATIONS~ AND SUCH OTHER EQUIPMENT AND ~ACILITIES AS MAY BE NECESSARY TO PRO~IDE
<br />A COMPLETE OPERATING FACILITY.
<br />
<br />"SEcfION 2. IN ORDER TO PROVIDE F'UNDS WITH WHICH TO MAKE THE IMPROVEMENTS SET
<br />FORTH IN SECTION IHEREO~, THE COMMON COUNCIL OF. THE CITY IS AUTHOR~ZED TO ISSUE
<br />AND SELL REVENUE BONDS O~ THE CI,TY IN THE SUM O~EIGHT~MILLIONrlVE HUNDRED"
<br />THOUSAND DOLLARS ($8,500,000.00); SAID BONDS SHALL BE PAYABLE TO BEARER,..BUT THE
<br />COMMON COUNCIL MAY PROVIDE THAT SAID BONDS MAY BE REGISTERED AS TO PRINCIPAL OR
<br />AS TO PRINCI PAL AND I'NTEREST, SHALL BE I N SUCH f'ORM, BEAR SUC.H DATE AND MATURI TY
<br />AS DETERMINED BY THE COMMON COUNCIL, PROVIDED THAT ALL BONDS SHALL MATURE NOT, ~
<br />LATER THAN TWENTY-~IVE (25) YEARS A~TER DATE O~ ISSUE. THE COMMON COUNCIL MAY
<br />ISSUE SAID BONDS RESERVING THE RIGHT TO CALL AND,REDEEM A PORTI~N THEREO~ ON AND
<br />AF'TER A DATE OR,DATES;'FIXED, ,AND NAY, PROVIDE,~ORAND,~IX THE AMOUNTO~ PREMIUM TO
<br />BE PAID UPON THE CALL AND REDEMPTI~N OF',ANYOF SAID ~ONDS BE~ORE MATURITY. SAID
<br />BONDS SHALL BE PAYABLE AT 'SUCH P,LACE lOR PLACES WI THI N OR WI THOUT THE STATE O~
<br />OREGON AS f'IXED BY THE COMMON COUNCIL.
<br />
<br />"SECTION 3. THE BONDS HEREBY AUTHORIZED SHALL BE PAYABLE ONLY ~ROM THE NET REVENUES
<br />O~ THE ELECTRIC SYSTEM O~THE CITY OF'EUGENE, AND IN NO EVENT SHALL TAXES BE LEVIED
<br />, ,
<br />ON THE PROPERTY ,IN THE CITY F'ORTHE PAYMENT OF THESE BONDS. NET REVENUES ARE
<br />DEFI NED AS THE AMOUNT ,OF' GROSS ELECTRI'C REVE,NUES'RECEI VED rROM THEOPERATI ONS OF' THE
<br />ELECTRIC UTILITY SYSTEM REMAINING A~TER DEDUCTING THE COSTS O~ OPERATION AND
<br />MAINTENANCE, AND PROVISION IS MADE FOR THE PAYMENT O~ THE PRINCIPAL AND INTEREST or
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