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'861
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<br />C ~ A ~ T E R A.~'E N D~ EN T.
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<br /> An Ac to amend the Charter of %he City of fhgene, Oregon, by ~idlng a new
<br /> &
<br />chapter thereto a~thorlzlng and empo)vering 'the Core, on council of th~ City to
<br />l$~tue, a~d sell fiegotiabl.!~ beads of 'the' '21ty to the ~nount of Twenty thousa.nd
<br />Dol.~ars (,~20,000.00), or .~o much thereof as may be necessary for the purpo:~e of
<br />paving St~eetlnte~sectlons of the' City, and ~o repeal an Act entitled,
<br />
<br /> "An Act to amend the Charter of the City of Fhgene, Oregon
<br /> ~by ,~tding a new e',napter thereto ~thorlzing and empowering
<br /> the Con~aon Councll of the City to l~sue and ~ell negotia-
<br /> bl~ beads of the City to the ~°unt of ~enty thousand
<br /> Do~lars ($20,000.00) or so much ther~f as may be necessary
<br /> ~o2. the pure,ese ef p~lng street intersections of the city
<br /> ~n~ ~e repels section. 37 ef e~apter 7, ef the Charter of
<br /> , She eit~ ~i,nl$ing the indebtedness te be created er
<br /> ,contracted by the City.iQ Three thousand dol~ars($3,OO0.O0)"
<br />enacted by the electors of s~i.l city ~at ~,eleetion held Nay, 16, 1924.
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<br /> THE CI?Y O~1 E~GGM~E DOES ORDAIN AS
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<br /> BE IT ENACTED BY TIlE ELECTO~WS OF THE CITY OM ~G~E L~E COUNTY O~E.
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<br /> Section 1;. Tha$ ~he Co,men Council of the City of ~gene i~ hereby authori-
<br />zed and empower, ed ~o issue and s~ll negotlabIe bonds of the City to the ~ount of
<br />Twenty thousand Dollars (~2~,000) or scrunch thereof as may be necessary for the
<br />purpo~e of pavlng~stree~ intersections of the
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<br /> Section 2. The bonds hereby aut~rlzed sha~[ be denominated .~Pavlng
<br />~ersee$Ion Bonds.~ They sh~l[ be a general obligation of the Clt~ of eugene,
<br />a~d sh~[[ be In ~ueh form an~ of such denominations ~ will, In the Judgment
<br />eF the Commo~ CounCil be mo,~ likely to conduce to their salability. They
<br />shall be ~e due andp~able 2Q years from the date of their issuance, a~d
<br />bear l~terest at a rate not to exceed 5 per ce~t ~er ~num, payalbe s~i-~nnual[y.
<br />
<br /> Section 3. The Common Council of the City of Eugene is hereby authorlze~
<br />to include in its general municipal tax levy each year sufficient special levy
<br />to pay the interest on the bonds and provide a sinking f~d for thepa~uent of
<br />th~ when due.
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<br /> Section 4. The Co~on Ceuncll of the City ls hereby authorized to issue ~d
<br />selk the s~ld bonds from 51me to time as they~y be need~ for the purpose herein
<br />specified, bu~ before any of them shal~ be sold, they shall be advertised for
<br />sale, by publicatioaof a notice a~king for bids therefor to be published 1~ the
<br />two daily papers now publlsh~l tn Eugene, Oregon, la at least one issue of such
<br />daily ~ape~s, two weeksprlor to the time .of the sale; ~d they m~ also give
<br />nottoe o~ the sale of said bond.~ In such other papers a.~ they deem to be best
<br />for theinterest oF the City 1~ effeetlng a sale; but, If no satisfactory bids for
<br />the purchase of the bonds be reoelv,~l, theymay sell them at private sale
<br />less th~ par and accrual interest.
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<br /> Section 6. That the Act entitled _
<br /> "An Act to amend the Charter of ~he City of Eugene, Oregon
<br /> by ~dding a new chapter thereto, 'authorizing ~and empo'¢ering
<br /> the Common COuncil of the City to issue and sell negotiable
<br /> bonds off the City t,~ the amount cf Twenty thousand Dollars
<br /> .($,2Q, QOOJ or so much tereof as may_b~e_ne_ce_~s_ar_y _fo~r ............
<br />the purpose of paving :~treet Intersections of said city,
<br />and~ to repea! Section 37, of Chapter 7, of the Charter of
<br />the City limiting the indebtedness to be crest, ed or
<br />contracted by the City to Three thousand Dollars
<br />~nAcSed- by'the'electors d~ 't He -c ft~ ~t-an-61e-ct-lo-n'h6l& Nsf I6th,- i924,-is 'h$~eby
<br />repealed.
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<br /> Section 5. The indebtedness authorized by this amendment to the Charter of
<br />the City of Eugene is in addition to all other indebtedness authorized and in-
<br />curred by the City of fhgene, and shall ~ot be considered as affected by any
<br />limitation of indebtedness ia the Charter of the C.tty or elsewhere.
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<br /> The roll was~called on su~oh resolution all present voting aye.
<br />tlon was declared passed, '
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<br />The resolu-
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