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Thousand (50~000) Dollars· or so much thereof as may be necessary for the purpose
<br />'of re-donstructin~~ certs, ia sections of the sewer system cf the' City and to repeal
<br />SectiOn 37, of Chdpter 7~ of the~ ,~harte~ o~ the City limiting the"indebtedfless to
<br />-be ~Pea~ed or,0on~raoted by the Cl~y-~o Thre~ Thous~d ($3,000) Dollars," enacted
<br />by She electors eF~ said. City a5 am elec$1on held Nov~ber 4, 1924.
<br />
<br />,THE:C~Y. 0~. ~JGENE DOES ORDAIN Ag POL;.DWS:
<br />
<br />:-- BE IT ENACTED BY THE FL~DTOB80~ I~HE CITY OP 513G~NE, ORF3]ON:
<br />
<br /> Section 1. T~at the Co~mon'C~un011 of the City of Dgene Is hereby authori-
<br />zed and empowered, to issue and sell negotiable bonds of tde city to the amount of
<br />~lfby Thousand ($50,000) Dollarq or so much thereof as may be necessary for ~he
<br />purpose of re-coas~ructing cortaln"Se~lons of the sewer system of the City:
<br />
<br /> See%to~. The beads hereby authorized shall be demominated "Sewer Re-,~:on-
<br />struebio~ B0nds.~ They shall be a general obligation of the City of D~gene, ~d
<br />'shall be tm such fo~ a~d of such denominations as will, tm the Judgment of the
<br />Go,on COuncil, b~,most likely to conduce to their salability. They shall be
<br />m~e due and p~yable in 20 ~ears from the d~ate of-their issuance, '~d bear int-
<br />erest at the rate~of not to exceed 5 per cent per annum, payable seml-~nually.
<br />
<br /> Section ~. The Common Council of the City of ~gene, ls hereby authorized
<br />bo include in its general municipal t~ levy each year sufficient special levy
<br />to pay the interest on the bonds ~n,l provides a sinking f~nd .fey the p~ment of
<br />them, when due.
<br />
<br /> Section 4. The Common Coun %1 of the city is hereby authorized to issue
<br />and sel~ the said bonds, from time to ~__ig_e, as they may be needed for the purpose
<br />herein specified, but before any of them shall be sold, they shall be advertised
<br />for sale, by publication of a notice asking for, bids therefor to be published la
<br />the two. daily papers now published in Eagene, Oregon, In at lea~t one issue of
<br />such daily papers, tee weeks prior to the time of the sale; and they may also
<br />give notice of the sale of~s~td~bonds, in such other papers as they d. eem to be
<br />best for the interest cf the City in effecting a sale; but, if no satisfactory bids
<br />for the purchase of the bond.s be received, they may sell them at private sale at
<br />not less than at par and accrued interest.
<br />
<br /> Section 5. That the money derived from the sale of said bonds shall consti-
<br />tute a spot,ia1 fund denominated "The Sewer Re-construction Fund" and shall be
<br />used for no other purpose than herein provided.
<br />
<br />-- Section-6. That-Sectiom 37,- o.f Chapter 7,-of the Charter of-the City of
<br />gene, Oregon, limiting the Indebtedness of the City to Three Thousand ($3,000)
<br />Dollars is hereby repealed. , ~ .
<br />
<br /> Secbion 7. That the Act' entitled, ."A~ Act to amend the Charter of the City
<br />of Eugene., Oregon, by ~ding a new chapter thereto authorizing ~d ~powering
<br />the Co~on CounCil of the City to issue and sell negotiable bonds of the City
<br />'to-the ~ount of ~iftY .... '~T'hous~d ~d ($50,000) Dollars or so much ther~f as
<br />may be necessary for thepurpo'se of re-constructing certain sections of the sewer
<br />system of the city and to repeal Section ~7, of Chapter.7, of.the Charter of .
<br />the City limiting the indebtedness to be created or oontraot~ by the City to
<br />Three ThoUsand ($5,000) Dollars" enacted by the electors of said City at an e[ec$
<br />t[.)a held July 2nd~ 1924, ts hereby repealS.
<br />The roll being called, all preseat voted aye, n~ nome. The resolution was de-
<br />otar~ car~i~. ,- '
<br />
<br /> The following resolution~ wasoffered: " ..
<br /> RiES 0 L U T I 0 N.
<br />
<br /> BE IT RE~OLVEI) by the Co.non Council of the City of fhgene, Oregon, ~hat
<br />there be submitted to ~{he eleot~r~'~ of the city for their approval o~ ~eJee$ion
<br />a~ a. sp~olal election %o be ~ekd in the City on the 20th d~Naroh, 1925, the
<br />annexed proposed charter ~m~meat eatltled~ "~ Act to-~end the Charter of-the
<br />Oity of '~geae, Or~gon, by ~dlng a new chapter thereto ~thorlz~g and ~power-_.
<br />lng the Common CouBCll of the.City to issue aa4 sell negotiable bonds of the
<br />City to the ~ount~of ~venty-five Thousand ($25,000) Dollars or so much 5hereof
<br />as m~ be aeeessar~ for the purpose of_purehasimg new fire apparatus for the city,
<br />and to repeal Section 37, of Chapter 7, of the Charter of the City llmit~g the
<br />indebtedness to bZ~oreated pr eontraoted by the city to Three Thous~d- ($3,000)
<br />Dellass, :~d to repeal the Act eatftled, "~ ACT to ~ead the Charter of the
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