Ordinance No. 18855 - Laserfiche WebLink

Home Browse Search

ORDINANCE NO. \~5~~- AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF FOUR MILLION NINE HUNDRED TEN THOUSAND DOLLARS ~$4,9l0,000~ GENERAL OBLIGATION BANCROFT IMPROVEMENT BONDS, SERIES "H", 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, COMMONLY KNOWN AS THE BANCROFT BONDING ACT, 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 within said City, and has assessed 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, WHEREAS, many of the owners of the property so assessed for such improvements in a sum exceeding $25.00 have duly signed applications to pay said severa 1 assessments semiannually for ten successive years in accordance with the provisions of said Bancroft Bonding Act, and, „ WHEREAS, 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 the unpaid assessments for said improvements for which application has been made to pay therefor under the provisions of said Bonding Act is the sum of $4, 910, 000 as shown by the Bond Lien Docket of the City of Eugene, Oregon, now, therefore, THE CITY OF EUGENE DOES 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 "H", of the City of Eugene, Oregon, in the amount of Four Million Nine Hundred Ten Thousand Dollars ~$4,910,000~, to be dated October 1, 1951, to be numbered consecutively from one ~l~ to nine hundred eighty two X982} , inclusive, to be in denominations of Five Thousand Dollars x$5,000} each, to bear interest payable semiannually on April l and October 1 of each year and to mature serially in numerical order as follows Page 1 - Ordinance