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I
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<br />Vote Yes Or
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<br />500 Yes
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<br />501 )To'
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<br />AM EN DM E,N T.
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<br /> AN ACT tq'ia~Fnd tho Charter of the City of E~gene, Oregon, by adding a
<br />new cltapter thereto authoriz mg s~d. emp~wering the Common C~uncil of 5he City
<br />to lssue ~d sell negotiable bonds of the City to the ~ount of ~enty five
<br />Thousand ~2~,000) Dollars, or so much Thereof as may be necess~y for the
<br />purpose, of purchasing new fire apparatus ~or the City, and to repeal the Act
<br />entitle, "~ Act to ~end the Charter of the City of ~gene, Oregon, bM
<br />adding, a ~w 2hap~e~ ~he~eto authoriz ~ and ~powerlng the Co,non
<br />of thq City to issue and .sell negotSable bonds of the City ,to the ,~o~nt of
<br />~entM five Thousand [$25,000) Dollars, o~ s~ m~oh thereof as may be necessary
<br />fo~ ~he put,se, of puro~asing new fire apparatus for the City, ~d to repeal
<br />Section ~,-of Chapter 7,' of-the ChaPter of the City limit~g the indebt~ness
<br />to be oreat~ or ~ont~aoted bM ~he City to Three Thous~d $~,0,00) Dollars,
<br />enaot~ bM the eleotors Of said Cit~ at an elation held July.
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<br /> - ~HE CITY O~ EUG~E ~ O~DA~ ~ ~0L~WS:
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<br /> ~E IT 5N~T~ BY THE ~T0~ 0F THE CI'[~ 0~
<br /> S~otiOn l.~h~t the Co.on Council of the City of ~gene ls he~Jeby author~
<br />iz~ ~d- ~power~ to ~ss~e ~d sell negotiable bonds oF the City to the ~o~t
<br />oF Twenty five'Thous~d ($25,000) Dollars or so much th~re$~ as m~ be necessary·
<br />ffo~ the put.se o~ pu~oh~i~g new Fi~e ~pparatus for the City.
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<br />._ _Section 2.-' The bonds .hereby authorized shall .be denominated "Fire Apparatus
<br />Bonds", 'They shal,lt be a general obligation of the City of Eugene, and shall
<br />be in such form and of such denominations as will, in the Judgment of ,the..
<br />COmmon CounCil, be most llkel~- to conduce to t~elr salability. They shall be
<br />made due and payable in 20 years from the late of their issuance, and bear
<br />interest at the rate of not to exceed 5 per cent per annu~m~, paTable semi-annuall,¥.
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<br /> Section 5, Tlte Common Counoll of the City of.~gene is hereby authorized
<br />to include in its general municipal tax l'evy each year suffielent special levy
<br />to pay the interest, on the bonds and provide a sinking ~nd for the p~ment of
<br />th~ when due. ..
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<br /> Section 4. The Common Council of the city is hereby authorized to lssue
<br />and sell the said bonds, from time to time, as they .may be needed for the
<br />purpose herein specified, but before any of them shall be sold, they shall be
<br />advertised for Sale, by publication of a notice asking for bids therefor to
<br />be published in the two dally papers now piAb~lshed in Eugene, Ore, on, in at
<br />least one lssue~ of such daily papers, two weeks prior to the time of the sale;
<br />and they may also give notice of the sale of said bonds in such other papers
<br />as they deem to be best for the interest of the city. l~ affecting a sale; but,
<br />if no, satisfactory bids for the purchase of the bonds be received, they may
<br />sell them at private sale at not less than at par and accrued, interest.
<br />
<br /> Section 5. That the money derived from the sale of said bonds shall
<br />constitute a special fund d.enoml~a~d? "The ~ire AppAratus ~und" and shall be
<br />used for no othe~ purpose than herein provided.
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<br /> Seotlon 7. That the Act entitled, "An Act to emend the Charter of the
<br />City of Eugene, 'Oregon, by adding a new chapter thereto authorizing and
<br />empowering the Co~on Council of the City to issue and sell negotiable bonds
<br />of the City to the amount of Twenty five Thousand ($25,000) Dollars, or so
<br />much Thereof as may be necessary for the purpose of purchasing new fire app$~a-
<br />tus for the City, a~d to repeal Seetlon ~7, of Chapter 7, of the Charter of
<br />the City limiting the 12debtedmess to be created or contracted by the City to
<br />THree Thousand ($~,000) Dollars," enacted by the electors of said City at an
<br />election held July 2, 1924, is hereby repealed.
<br />
<br /> Two sid4walk improvement Orttlnances were read the first time and passed
<br />their second and third readings by title by unanimous consent under suspension
<br />of the rule and were Placed on their final passage. The ayes and nays were
<br />called, ~11 present voting aye. Nay none. The Ordinances were declared pass-
<br />ed andnumbered 4767 and ~V68, [
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