Ordinance No. 18476 - Laserfiche WebLink

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ORDINANCE N0. ~~~~_ AN GRDINANCE PROVIDING FOR THE ISSUANCE AND SALE GF TWO HUNDRED THOUSAND DOLLARS x$200,000} OF GENERAL OBLIGATION BONDS OF THE CITY OF EUGENE, BEING A PORTIGN OF THE BOND ISSUE AUTHORIZED BY THE LEGAL vOTERS OF THE CITY AT A SPECIAL ELECTION HELD NovEMBER s , 19 7 7 . THE CITY OF EUGENE DOES ORDAIN AS FGLLOWS: Section 1. That at a special city election duly and regularly ca e and held in the City of Eugene, Gregor, on November 8, 1977, the legal voters of the City authorized the issuance of bonded indebtedness as follows: "AUTHORIZING AIRPORT BGND ISSUE OF $900,000 PURPOSE: To authorize the City Council to issue $900, 000 of general obligation airport bonds and to pledge $900,000 of airport revenue to retire the bonds, both far the purpose of financing airport improvements that are to be financed mainly by grants from the federal government,", whereby the City Council was authorized and empowered to issue and sell negotiable general obligation bands in a su~r~ not to exceed Nine Hundred Thousand Dollars x$900,000} or such part thereof as shall be necessary far the purposes set forth above. The City Council authorized the ~.ssuanee and sale of General Obligation Airport Development Bonds, Series 1978, as authorized in the amount of $500,000 leaving authorized but unissued bonds in the amount of $400,000. The City Council does hereby determ~.ne that it is now expedient, convenient and necessary for the City to sell Two Hundred Thousand Dollars x$200, 000} principal, amount of the authorized but unissued bands fax the purposes af4resaidp Section 2. That there shall be issued and sold as soon as practica~;~and as provided by law, Two Hundred Thousand Dollars ~$Z00,000} principal amount of general obligation bonds of the City of Eugene, Gregor. The bonds shall be designated "General Ob~.igatian Airport Development Bonds, Series 1978B," shall be dated September 1, 1979, numbered from one ~1} to forty X40} of the denomination of Five Thousand Dollars ~$5 , D00~ each, bear interest at a rate or rates specified by the successful bidder, interest. payab~.e semiannually ~axeh ~. and September 1, of each year, and shall mature serially in numerical order Twenty-five Thousand Dollars x$25,000} bands on September l in each of the years