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18635 <br />FIVE THOUSAND DOLLARS <br />with interest thereon from the date hereof at the rate of <br />percent ~~} per annum, on the first day of January and <br />the first day of July in each year until maturity, upon surrender <br />of the annexed interest coupons as they severally mature. The <br />principal of and the interest upon this bond are payable in <br />lawful money of the United States of America, at the First National <br />Bank of Oregon, Eugene Main Branch, Eugene, Oregon, or at the <br />principal office of the fiscal agency of the State of oregon <br />in New York, New York. <br />This bond is one of a series of bonds of like date, <br />denomination and tenor except as to interest rate, number and <br />maturity, aggregating Three Million Eight Hundred Fifty Thousand <br />Dollars x$3,850,000} par value, issued to provide funds to redeem <br />interim warrants previously issued to finance construction of <br />certain local streets, sidewalks, and sewage collection lines, <br />as authorized by oregon Revised Statutes 223.245 to 223,295, <br />inclusive, commonly known as the Bancroft Bonding Act and are <br />general obligations of the City. <br />IT IS HEREBY CERTIFIED, RECITED AND DECLARED that <br />all conditions, acts, and things required to exist, to happen, <br />and to be performed precedent to and in the issuance of this <br />bond have existed, have happened, and have been performed in <br />due time, form, and manner as required by the constitution and <br />statutes of the State of Oregon; that the issue of which this <br />bond is a part, and all other obligations of the City, are within <br />every debt limitation and other limits prescribed by such constitu-~ <br />Lion and statutes; and that the City has provided for the levying <br />annually of a direct ad valorem tax as required upon all the <br />property with the City so taxable for its purposes, in sufficient <br />amount to pay the interest on and the principal of the bonds <br />of such issue, as such obligations respectively become due and <br />payable . <br />IN WITNESS WI3EREOF, the City of Eugene has caused <br />this bond to be signed by its Mayor by facsimile signature and <br />countersigned by its Finance officer, the annexed interest coupons <br />to be executed with the facsimile signatures of such officers , <br />and the seal of the City to be printed hereon this first day <br />of July, 1980. <br />CDUNTERSIGNED: <br />Mayor <br />Finance Officer <br />Page 3 - ordinance <br />