Laserfiche WebLink
AN ACT to amend the Charter of the City of D~gene, 0, reg~n, .by adding a <br />new chapter thereto authorimlng and empowering the Common Co. uncll of the City to <br /> <br />issue and sell negotiable bond:~ of the .City to the .muo~:nt.of. <br /> <br />Dollars, or so much thereof as may be neeessaryofor the purpose of e,~nstruoting, <br /> <br />in conjunction with Lane County, Oregon, a public comfort ,station to be located in <br /> <br />the park south of Eighth Avenue and West of 0el Street in the city and tO repeal <br />Section 37~ of Chapter 7, of the Charter of the city limiting the indebtedness to <br />be created or contracted by the city to Three Thousand (3,000) Dollars. <br /> <br /> THE CITY 07 EUG.M~E DO E~ 0 ~?DAIN AS ?0LL0~S: <br /> <br />BE IT k'WACTED BY THE. ~,~ECTOPS 02 THE CITY 0~ ~33GEWE 0RP,~ON. ' <br /> <br /> Section 1. That ghe Common Council of the Cl~y of Eugene is hereby author- <br />ized and empowered to issue and sell negotiable bonds of the 'city to the amount 'of <br />~lve Thousand (5,000) Dollarsyox; so much ,he~f as may be ne?essary~for the pur- <br />pose of constructing, in conjunction with h~e County, Oregon, a publle comfort <br />atatl.~n to be ~ooated ~ th~ park south o~ Eighth Avenue and West of 0~ Street la <br /> <br />the city; <br /> <br /> Seotfon 2'. 'The' b'on'ds hefeb'y 'a~thofized ~half b'e 'de'no'minuted "Public Com- <br />fort Statical Bonds." Them shall be a general obligation of the City of EUgene, <br />and shall be in such form and of such denomination as ~lll, in the Judgment of the <br />Cen, ken Council, be most likely to conduce to their salability. They shall be made <br />due a~d payable in 20 years from the date of their ls.~uance, and bear interest, at <br />the r ate of not to exceed 5 per cent per annum, payable semi-annually. <br /> <br /> Section 3. The Common Council of the City of MAgene is hereby authorized <br />to include in its general municipal tax levy' each yeaF sufficient special levy to <br />pay ~he interest on the bonds and provide a sinking fund for the payment of them <br /> <br />, <br />when due. <br /> <br /> Sec'rich 4. The Common Council of the elty is hereby authorize~ to issue <br />and sell the said bonds~ from time to time, ss they may be needed for the purpose <br />herein specified, but before any cf them shall be sold,' they shall be ad'Orris ed <br />for sale, by publle~'~Xon of a n,~bi~e asking f~r bids therefor te be published in <br /> <br />the two daily papers now published in M~gene, Oregon, ia at least one ls~ue of sdc-h . <br /> <br />daily papers, two weeks prior to the time of the sale; and they may also give nctieC <br />of th~-sale et" sal~ bonds in such otherpapers as they deem to 6e best for the in- <br />tore'st of the city in effectlng a sale; but, if no satisfactory bids for the pur- <br /> <br /> -~ chase of the bonds be received, they may sell the~ at private sale at not less than <br />~i at par and accrued interest. <br /> <br /> <br />