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1921-04-11-1925-08-24.tif
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1921-04-11-1925-08-24.tif
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8/29/2008 12:25:40 PM
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City Council Minutes
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Meeting
CMO_Meeting_Date
4/11/1921
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C HA~T ER A~ EN DM EN T. <br /> <br />ANACT ~,o ~Fnd the charter of the City of k~gene, Oregon, by adding a new <br /> <br />chapter thereto authorizing and empo~Nerlng the Common Co,nell of the City to issue <br /> <br />and sell negotiable bonds of the city to the m,~oun-5 of Twelve Thousand Dollars, <br /> <br />or so much thereof as may be necessary, .for the purpo.~e of building a new bridge <br /> <br />o~ Ninth Avenue East across the Mill Race. <br /> <br />THE CITY OP EUGt~E COES ORDAIN AS FOLL0'~S: <br /> <br />BE IT ENACTFD BY T~E ELECT0 ~ (Y? THE CITY OP 5II~'~NE 0R~-~0N. <br /> <br /> Section 1. That the Common CoUnotl of the CltY of Eugenels hereby authorized <br />and empower,~ to issue and sell negotiable bonds of the city to the amount of <br />%h~elve Thousand Dollars, or so much thor ~ of as may be necessary, for the ~u~pose <br />ef building a new bridge on Ninth Avenue East across the Nlll ~aoe: <br /> <br /> Section 2. That ~he bonds hereby authorized shall be denominated ~East Ninth <br />Street Bridge Bonds." They"shal~ be a'general obligation of the City of Eugene, <br />and shal~ be in such form and of such denominations as will ln'th~ judgment of the <br />Comz~on Council be mos% likely to_ .eo_n_duce to their salability., They shall be made <br />due a~d payable l~ twenty years from the 4at~ of their issuance, a~d bear interest <br />at a rate not to exceed 5% per annum payable semi annually. <br /> <br /> S~ctlm~ 3. That the Conmnon Council of the olty of D~genels hereby authorized <br /> <br />to lnolude in its general municiapl tax levy each year sufficient special levy to <br />pay the l~terest on the bonds and provide a sinking fund for the payment of them <br /> <br />when due. <br /> <br /> Sect ion 4. <br /> <br />That the Common Council or the city is hereby authorized to <br /> <br />issue,and sell the said bonds, from time to tim~, as theymay be needed for the <br />purpose herein specified, but before soy of them shall be sold, they shall be <br />advertised for sale, by publication afa notice asking for bids therefor to be <br />published in the two daily papers now published in Eugene, Oregon, ~ at least <br />one issue of suoh daily papers, two weeks prior to ,the. time of-the <br />they may also give notice of the sale of said bonds in such other papers as they <br />dean to be best for the interest of the city in effecting a sale; but, if no <br />satisfactory bids for the purchase of the bonds be reeelved~ tt~ey ~ay sell-them <br /> <br />a'~ private sale at not less than at par and accrued interest. <br /> <br />O~ motion the following resolution was passed: <br /> <br />RE~0LUTION <br /> <br /> Be it Resokved by the Common Council of the City of Eugene, Oregon, that <br />there be submitted to the electors o~ the City for their approval or r~jee~lon, at <br />the next general electlo~ to be held in the city, on the 4th day of November, lg24, <br /> <br /> <br />
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