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l9/33 <br />$400,000 on June 1 in each of the years of 1984 to 198?, <br />inclusive; and <br />$395,000 on June 1 in each of the years of 1988 to 1993, <br />inclusive. <br />Section 2. Si natures and Re istration. Each of the <br />bonds shall be signed by the facsimile signature of the Mayor in <br />,office on the date of execution of such bonds; each of the bonds <br />~~ shall be countersigned by the City Treasurer or Assistant City <br />~~ Treasurer in office on such date; the coupons appertaining to the <br />bonds shall be executed with the facsimile signatures of such <br />Mayor and City Treasurer or Assistant City Treasurer; and each of <br />the bonds shall be registered in the Improvement Band Register by <br />the Finance Officer of the City of Eugene, Lane County, State of <br />Oregon. <br />Section 3. Securit The City has assessed the cost <br />of public improvements to benefited properties and all monies <br />collected therefrom shall be placed in the Bancroft Bond <br />Redemption Fund and applied to the payment of principal and <br />interest on these bonds. The full faith and credit of the City <br />are also pledged to the successive holders of each of the bonds <br />and of the interest coupons appertaining thereto, for the punctual <br />payment of such obligations, when due; and the City shall levy <br />annually, if required, a direct ad valorem tax upon all of the <br />taxable property within the City in sufficient amount after <br />taking into consideration discounts taken and delinquencies that <br />may occur in the payment of such taxes, to pay the bond and bond <br />interest obligations promptly as they respectively mature; and <br />the City covenants with the holders of its bonds, to levy such a <br />tax annually as required during each year that any of the bonds, <br />or of bonds issued to refund them, and bond interest obligations, <br />are outstanding. <br />Section 4. Form. The bonds and the coupons attached <br />thereto shall be in substantially the following form, the terms <br />of which are hereby adopted: <br />UNITED STATES OF AMERICA <br />STATE OF OREGON <br />COUNTY OF LANE <br />CITY OF EUGENE <br />GENERAL OBLIGATION BANCROFT IMPROVEMENT BAND, SERIES "J" <br />No. <br />____ <br />$5,000 <br />City of Eugene, in the County of Lane, State of Oregon, <br />acknowledges itself indebted and for value received hereby <br />Page 2 -- Ordinance <br />