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ORDINANCE N0. ~I~T,~`
<br />AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF
<br />ONE MILLION TWENTY THOUSAND DOLLARS ~$1,a2a,D00}
<br />GENERAL OBLIGATION BANCROFT IMPROVEMENT BANDS, SERIES
<br />"F", OF THE CITY OF EUGENE, OREGON, AND DIRECTING THAT
<br />THEY BE ADVERTISED FOR SALE, ALL IN ACCORDANCE WITH THE
<br />PROVISIONS OF CHAPTER 223, OREGON REVISED STATUTES,
<br />COMMONLY KNOWN AS THE BANCROFT BONDING ACT,
<br />WHEREAS, the City of Eugene, Oregon has heretofore
<br />caused certain streets to be improved and certain sewers to be
<br />laid and installed and certain sidewalks to be constructed
<br />within said City, and has assessed the cast thereof to the property
<br />abutting thereon and benef fitted thereby in accordance with the
<br />provisions of the Charter of said City and said City's ordinances,
<br />and,
<br />WHEREAS, many of the owners of the property so assessed
<br />for such improvements in a sum exceeding $25.aa have duly made
<br />and signed applications to pay said several assessments semi-
<br />annually for ten successive years in accordance with the pro-
<br />visions of said Bancroft Bonding Act, and,
<br />WHEREAS, an assessment and band lien docket has been
<br />fully made up in accordance with the provisions of said Bonding
<br />Act, and the total amount of the unpaid assessments for said
<br />improvements for which application has been made to pay therefor
<br />under the provisions of said bonding act is the sum of $1,a2a,a0a
<br />as shown by the said Bond Lien Docket of the City of Eugene,
<br />Oregon,
<br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS:
<br />Section 1. That the City of Eugene, Oregon does
<br />hereby aut orize t e issuance and sale of General Ob],igation
<br />Bancroft Improvement Bonds , Series "F" , of the City in the am,auz~t
<br />of $1,020,a0a, which shall be dated September 1, 1979, numbered
<br />from one ~1} to two hundred four ~2o4} , of the denomination of
<br />Five Thousand Dollars ~$5,aao} each, shall bear interest at a
<br />rate or rates as specified in the successful bid of the purchaser
<br />of said bonds, interest payable se~i,annuall,y March ~ and Septe~ber
<br />1 of each year, and shall, mature serially in numerical order ane
<br />Hundred Thousand Dollars ~$loo,oaa} bands on September ~, in each
<br />of the years 1980 to 19S$, inclusive, and Ore Hundred Twenty
<br />Thousand Dollars ~$12a, O0a} bonds an September l,, 1.99 P Both
<br />principal and interest on said bonds shall be pa~yabl~e ~in lawful
<br />money of the United States of America at the First National. Bank
<br />of Oregon, Eugene Main Branch, Eugene, Oregon, or at the principal
<br />
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