Ordinance No. 19305 - Laserfiche WebLink

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DRDINAf~CE NO. 19305 AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF TWO MILLION TWO HUNDRED THIRTY-FIVE THOUSAND DOLLARS x$2,235,000} GENERAL OBLIGATION BANCROFT IMPROVEMENT BONDS, SERIES "K" DF THE CITY OF EUGENE, OREGON, AND DIRECTING THAT THEY BE ADVERTISED FOR SALE, ALL IN ACCORDANCE WITH THE PROVISIONS OF CHAPTER 223, OREGON REVISED STATUTE5, COMMONLY KNOWN AS THE BANCROFT BONDING ACT, AND APPOINTING A REGISTRAR, AND DECLARING AN EMERGENCY. WHEREAS, the City of Eugene, Oregon has heretofore caused certain streets to be improved and certain sewers to be laid and installed and certain sidewalks to be constructed or to be constructed within said City, and has assessed or preassessed the cost thereof to the property abutting thereon and benefited thereby in accordance with the provisions of the Charter of said City and said City's ordinances, and, ~iHEREAS, many of the owners of the property so assessed or preassessed for such improvements in a sum exceeding $25.00 have duly signed applications to pay said several assessments semiannually for ten successive years in accordance with the provisions of said Bancroft Bonding Act, and, WHEREAS, an Assessment and Bond Li en.Dacket has been fully made up in accordance with the provisions of said Bonding Act, and the total amount of unpaid assessments and preassessments for said improvements for which appl~cat~ons have been made to pay therefore under the provisions of said Bonding is the sum of $2,235,000 as shown by the Bond Lien Docket of the City of Eugene, Oregon, naw, therefore, THE CITY OF EUGENE ODES ORDAIN AS FOLLOWS: Section 1. Authorization. The City of Eugene, Oregon, does hereby authorize the issuance and sale of General Obligation Bancroft Improvement Bonds, Series "K", of the City of Eugene, Oregan, in the amount of Two Million Two Hundred Thirty-Five Thousand Dollars x$2,235,000}, to be dated June 1, 1985, to be numbered consecutively from one ~1} to four hundred forty seven X441}, inclusive, to be in denominations of Five Thousand Dollars x$5,400} each, to bear interest payable semiannually on December 1 and June 1 of each year and to mature serially in numerical order as follows; $225,04D on June 1 in each of the years of 1986 to 1992, inclusive; and $220,000 on June 1 in each of the years of 1993 to 1995 inclusive. Page 1 ~ Ordinance