Ordinance No. 19311 - Laserfiche WebLink

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1 ORDINANCE Na. X9311 AN ORDINANCE REPEALING ORDINANCE ND. 19305 AND AUTHORIZING THE ISSUANCE AND SALE OF TWi4 MILLION TAO HUNDRED 'DIRTY FIVE THOUSAND D4LT.,ARS ~$2,235,000~ GENERAL OBLIGATION BANCROFT IMPR7V,E~MENT BONDS, SERIES "K" OF THE CITY OF EUGENE, OREGON, AND DIRECTING THAT THEY BE ADVERTISED FOR SALE, ALL IN ACCORDANCE WITH THE PROVISIONS OF CHAPTER 223, OREGON REVISED STATUTES, COMM~LY AWN AS THE BANCROFT BONDING ACT, AND APPOINTING A REGISTRAR; AND DECLARING AN EMERGENCY. The City Council of the City of Eugene finds that: On January 23, 1985 the City Council adopted Ordinance No. 19345 auth- orizing the issuance and sale of Two Million Two Hundred Thirty-Five Thous- and Dollars ~$2,235,000~ General Obligation Bancroft Improvement Bonds, Series "K", of the City of Eugene. That Ordinance contained errors and should be repealed, and the issuance and sale of the General Obligation Ban- croft In~rovement Bonds authorized as hereinafter provided. The City of Eugene, Oregon has heretofore caused certain streets to be improved and certain sewers to be laid and installed and certain sidewalks constructed or to be constructed within the City, and has assessed or pre- assessed the cost thereof to the property abutting thereon and benefited thereby in accordance with tie provisions of the Charter of the City and the City's ordinances. Many of the owners of the property so assessed or preassessed for such improvements in a sum exceeding $25.40 have duly signed applications to pay said several assessments semiannually for ten successive years in accord- ance with the provisions of the Bancroft Bonding Act. An Assessment and Bond Lien Docket 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 applications have been made to pay therefore under the provisions of said Bonding Act is the sum of $2,235,000 as shown by the Band Lien Docket of the City of Eugene, Oregon; now, therefore , THE CITY OF EUGENE DOES ORDAIN ,AS FOLL0~+~5: Section 1. Authorization. The City of Eugene, Oregon, does hereby authorize the issuance and sale of General Obligation Bancroft Improvement Bands, Series "I~", of the City of Eugene, Oregon, in the amount of Two Million Two Hundred Thirty-Five Thousand Dollars ~$2,235,004~, to be dated April 1, 1985, to be nw~ered sequentially beginning with R-1, to be in de- nominations of Five Thousand Dollars x$5,000} or integral multiples thereof, payable semiannually on October 1 and April 1 of each year and to mature serially as follows: $225,000 on April 1 in each of the years of 1986 to 1992, inclusive; and $220,000 on April 1 in each of the years of 1993 to 1995 inclusive. Page 1 -Ordinance