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the Act authorizing the issue and sale of Ylft¥ thousand dollars, negotiable bonds
<br />and repealing Section 37, of Chapter 6, of the Charter adopted and enacted by
<br />the elec~ors of the City at an election hal4 July 2, 1924,
<br />
<br /> Vote Yea or
<br />
<br />501 No.___
<br />
<br />CHART ER AMENDMENT.
<br />
<br /> AN,ACT to amen~! the Charter of the City of Eugene, Oregon, by adding a new
<br />chapter thereto a.U'thorizing 'and empowering the Common Council of the City to
<br />issue and sell negotiable bonds of the City to the amount of Fifty Thousand
<br />($50,000) Dollars or so much thereo£ as may be necessary for the purpose of con-
<br />strutting and re-.constructing certain sections of %he ,i~_ainage and sewer system
<br />of the Clby, _and to repeal the Ae'b enbltled, "~ Ao~ ~o amend the Charter OC the
<br />City of M~gene, Oregon, by ~d[ng a new ehaPtar thereto aut-horlzlng ~nd empower-
<br />ing the goshen Council of the City to issue and sell negotlablebonds of the City
<br />%0 the ~ounb of. ~'tfty Thousand ($50,000.00) Dollars or so much thereof as may
<br />be necessary for the purpose of re, construCting certain sections of the sewer
<br />system of'the Clt~,'and to repeal'Section $~],-oC Chapter 7, of the Charte~ of the
<br />City limiting the indebtedness to be o~eab~d or contr~ted by.the City to Three
<br />Thousand, ($3, O00).~Dollars, "enacted by the-elco'bors of sald City at ~ e[eotlon
<br />held JJ~ly 2, 1~24,
<br />
<br /> THE
<br /> BE IT 5NACT~ BY ~E ~TORS 02 THE CI~ 02 ~GM,~F, L~E CO~, ORE.
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<br /> Section 1. That the Co,on Council of the City of ~gene is hereby m~thori-
<br />~ ~d empowered to lasu~ ~d sell negotiable bonds of bhe City to the mnount of
<br />~ifby thousand ($50,000.00) Dollars or so much thereof a~ may be necessary for the
<br />purpose of constructing and ~%-cons~ruetlng certain aeetlo~ of the Dralm~e ~d
<br />sewer system of the City:
<br />
<br /> Seeblon 2. The bonds hereby autb)rlzed shall be.denominated "Sewer Re-con-
<br />sbrueblon Bonds. "' They shall be m general obligation of ~he City of ~gene, and
<br />ah~ll be In sdeh ~form and oD such denominations a~ will, In the judtnenb of the
<br />COaCh Council, be moat likely bo eonduce bo their salability. They shall be mate
<br />due ~ndpayalb~ tn 20 years from the al'ate of their iss~noe,
<br />the rate of nob tO except 5 per cent per a~um, p~able seml-~nually.
<br />
<br /> S~otion ~. Th~tCmm~on Council of the City of Eugene, 'is hereby authorized to
<br />include in its general municipal tax levy each year sufficient special' ~evy to
<br />pay the interest on the bonds and provide a sinking fund for the payment of them,
<br />when due. } ·
<br />
<br /> Section 4. She Common Council of-the City is hereby authorized to issue and
<br />sell the said bonds, from time to time, as they may be .needed for the purpose
<br />herein specified, but before any of them shall-~e so~d, they shall be advertised
<br />fox' sale, by publication of a notice asking for bids therefor $0 be published in
<br />the two dally papers now published in ~gene, Oregon, in at least one issue of
<br />such d~lly papers, two weeks prior to the t~& of the-s8Ze; ~d they m~ also
<br />give notice of th~ sale of said bonds la such other papers as they deem to be
<br />beat for the interest of 5he City In affecting a sale; but, If no satisfactory
<br />bids for the purchase of the bond~ be received, they m~ sell th~ at ~r~v~t~ _ _
<br />sale at ~ot le~s-th~ 2t-p~r'a~d a~orued' interest.- ~ '
<br />
<br /> Section 5. That the money derived from the sale of said bonds shall oonslltute
<br />a special fund denominated "The Server Re-constructlo~ Fund" and shall be used
<br />for no other PF?pose then he.se!n pr_ovid_ed. .................
<br />
<br /> Section 6. That the Act, entitled, "An Act to amend the Charter of the City
<br />· f Eugene, O~egon,. by adding'a new chapter thereto authorizing and empowering the
<br />Common Council ofjthe City to lssu~ and sell negotiable bonds of_the City to the
<br />amount of ~lfty T~ousand ($50,000) Dollars or so much thereo~ as may be necessary
<br />for the purpose of r% constructing certain sections Gf the sewer system of the
<br />City, and to repeal Section 37, of Chapter 7, of the Charter 9f-the City limiting
<br />the ladebt~edness to be °reate~i or contracted 'by the City to Three Thousand (3,000)
<br />Dollars" enacted by the elec't6rs 6f said City at an election held July
<br />is hereby repealed. '
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