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Shall the charter of the City of ~gene, Oregon, be amended by adding a
<br />ne~v chapter thereto authorizing and empowering the Common Coun~ll of the olty to
<br />18sue and sell negoti~tmle bonds of the city to the amount of Twenty thousand (20,009
<br />Dollars, or so muOh thereof as may be necessary for the purpose of paving street
<br />intersections of the city, and to repeal section S7, of chapter 7, of the charter
<br />of the city limiting the endebtedness to be created or contracted by the cl ty
<br />to Three thousand (S, O0(~) Dollars.
<br />
<br />Yes,
<br /> VOte, Yes or No.
<br />
<br />(Follow bY exact copy of Charter ~mendment.)
<br />
<br />A R T ER AM EN D~EN T. ,
<br />
<br /> A N ACT to amt~dthe charter of the Clty of. Eugene, Oregon, by adding a
<br />new chapter thereto authori~ln~ and empowering the Common Council of th& Clty to
<br />issue and sell negotiable bonds of the city to the amount of Twenty thousand
<br />(20,000). Oollars~ or so much thereof as may be necessary for the pu~rpose of paving
<br />street InterSections of the olty, end to repeal sectlon S7, Of chapter 7, of the
<br />charter of the city limiting the indebtedness to be created or contracted by the o
<br />city to Three thousand (],000) Dollars.
<br />
<br />THE OI~f OF tl;,'}ENF. DOE~ ORDAIN AS FOLLOWS.
<br />
<br />B~ IT ENACTED BY THE ELECTORS 01~' THE OI%~f Old' EUO~NE ORE~0N.
<br />
<br />Section 1, That the Common Co~mcll of the City of Eugene, is hereby authorized
<br />and empo~ered to issue and sell negotiable bonds of the city to the amount of
<br />Twen,y thousand (20,000) Dollars or so much thereof as may be necessary for the
<br />purpose of paving street intersect_ton_s_ of..t~hp, cit¥~
<br />
<br /> Seotlon 2. The bonds' hereby authorized shall be denominated ~PaVtn8
<br />Intersection Bonds". They shall be a general obligation of the, City of Eugene,.--
<br />and shall be in Such form and of such denominations as will, In the' Judgment of th~
<br />Common Council, be most likely to conduce to thelr salability. They shall be.made
<br />due and payable in 20 years from the date of their issuance, and bear lnterest at
<br />a rate not to exceed'§ per' cent per annum, Payable seml-anually.
<br />
<br /> Section Se The Common Council of the City of Bigene is-hereby authorized
<br /> to include In its general municipal tax levy each year sufficient special levy to
<br /> Pay $h~ 'interest on the bonds and ~rovide a sinking fund for the payment of them
<br /> when due.
<br />
<br /> Section 4. The Common Counoll of the clty is hereby authorlze~ to ls~ue
<br />and sell the said bonds, from time ~t~ time, as they may be need~ for the purpose
<br />herein specified, but before ~Y of~'th~ shall be sold, them shall be ~vertlsed
<br />for sale, bM publication of a notice asking for b~ds therefor to published In the
<br />two dally papers now p~b.lished ~ ~ene, Oregon, in' at le~t She issue~ of such
<br />da~ly paper, t'~'weeks prlo[ to the time of the sale; ~d they m~ also give notice
<br />of the sale of said bonds lm such other paper~ as they de~ to be best for the
<br />terest of the clty lm effect;a sale;'but' If ne s~tlsf~tery bids for the pureh~e
<br />of the bonds'be received, they may sell th~ at prlvate,:s:~e at net less th~ at p~
<br />and accrued ~nterest. -~ ~-'
<br />
<br /> Section 5. That section ~7, of eh~ter 7, of t~e charter cf the Clt2 of
<br />~gene, Oregon, l~ltlng the Indebtedness of the c~ty to Three th6us~d (~,000)
<br />Dollars Is hereby repealed.
<br />
<br /> Upon motion Councl~ ~joUra~ till ~rll ~rd,' !~24, at 7;~ o'clock P.M.
<br />
<br /> Oeo. A, Olimore
<br />..................... C.lty- Recorder.
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