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18855 <br />$495,000 on October 1 in each of the years 1982 and <br />1983, inclusive; and <br />$490,000 on October 1 in each of the years .1984 to <br />1991, inclusive, <br />Section ~. 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 Finance Officer in office on such <br />date; the coupons appertaining to the bonds shall be executed <br />with the facsimile signatures of such Mayor and Finance Officer; <br />and each of the bonds shall be registered in the Improvement Bond <br />Register by the Finance Officer of the. City of Eugene, Lane <br />County, State of 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 Cit <br />Y <br />are also pledged to the successive holders of each of the bonds <br />and of the interest coupons appertaining thereto, for the <br />punctual payment of such obligations, when due; and the City <br />shall levy annually, if required, a direct ad valorem tax upon <br />all of the taxable property within the City in sufficient amount, <br />after taking into consideration discounts taken and delinquencie s <br />that may occur in the payment of such taxes, to pay the bond and <br />bond interest obligations promptly as they respectively mature; <br />and the City covenants with the holders of its bonds, to levy <br />such a tax annually as required during each year that any of the <br />bonds, or of bonds issued to refund them, and bond interest <br />obligations, are outstanding. <br />Section 4, Fo m. 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 BOND, SERIES "H" <br />No. <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 />promises to pay to bearer on the first day of October, l9 , <br />Page 2 - Ordinance <br />