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<br /> ...... OH A R T E R ' AH EN DM EN T.
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<br /> An Act' ~o: amend the Charter o£ th~ City of ~ene, Oregon, bY mi'ding a new
<br />-chapter thereto a~.bnorlzlng ~d ~mpov~ering th'e Co:m~on ]ouncl[ o~ said
<br /> quire by purchase, .~condemn~ti~, or_ othe?vise, wibhln or without the City of ~gene,
<br /> Oregon, a~' and ali real estate, rights, of wa~, ea~ement~ ~d lioense~,
<br /> for mm~l~lpal rail~a~ terminals, m~mloipal belt lln~ railroad, municipal park~,
<br /> and any other m~nl~Ipal purposes, ~d to lssu~ and ~ll,n~otiabl~ ben,is of said
<br /> Olt~ In the sm.~ of On~ HanJr~,~ Seventy five Thou'~an~ Dollars, or so much .hereof
<br /> as' shay1 b~~ n~eessAry for such PurPose~, and to ~xPend the Proceeds l~ Payment
<br /> th er e f,~r. .
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<br /> -THE CI~ O~ ~GMCE ~ ORDAIN ~B
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<br /> BE I~ M¢.~D BY THE ~TO~S O~ THE CI~ OF B~GE~.Y~ b.~E CO~'Ff
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<br /> Seetlon 1. That .the Cl~ of E~gsn%. herein~ter referred to as the "Clty~ by
<br /> and through its Co~on Cmm~il, Is hereby authorized and e~ower~to Purchase, aa-
<br /> q~lre by the ex~rolse of the right of eml~'ent domain, or othemvl~e, real Property,
<br /> lands rights of w~, easements and .lieens~a within or without the territorial
<br /> llmit~ o~ the City, fo.r munlelpat.railway te~lna[s, municipal belt lin~ rallro~,
<br /> municipal parks and for ~y other munlo ~al purposely, 2nd for Mnprovs said !~ds so
<br /> a~q,~ ired.
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<br /> Seetlon 2. i~o~' the purpose of carrying the provisions of this act, or any of
<br />them, into effect the Common Jounoll of the City i.~ authorized to issue a~ll and
<br />dispose of the bond's o~ the City in denominatlon~ of from $100.00 to ~1000.00, both
<br />lncl~slve, as the Co~o~ Co~nell may desire, signed by the ,.~ayor and countersigned
<br />by the Recorder of said City, who shal~ affix the corporate seal of the City of
<br />Eugene, thereto, and with interest coupons thereto attached, bearing the facsimile'
<br />signature of the Treasurer of said Glty, whereby the said Clt~ shall be held In
<br />subst,.mee ~d effect to ~mdertake and promise, In consideration of the p.eemises, 'to
<br />pay $~ p~ to the b~arer of each of said bonds, at the explratlonof thrifty years
<br />from the date thereof, the m~n nam~t there,, in gold coin of the Unlte4 States,
<br />together wfgh interest thereon In like g~[ddcoin, at such rate of interest as may
<br />be determined by said Cornish CounCil, ~ot exceeding the rate of five per cent per
<br />~nu~,~payable soul annually, as provided In the interest coupons of said bonds
<br />annexed; Provided, that the whole ~oont of bond~ issuet by said Common ~unell un
<br />der the authority her~C, shall not exee~ ~he s~ of One i~ndred Siventy five
<br />Thous~d Dollars; ~d Provide, further, that said bonds shall express on the fac~
<br />thereof, 'that the City at the option of its Co~oa Coun,~ll, shall have the option
<br />repay $7000.00 in a~ount of the prinelpal of said bonds, to be drm~ by lot by the
<br />elty, ~ ach year after five y~ars from the date thereof. The beads hereby authorlM
<br />z~ shall be denominat~ "City of M~gene Park ~d Terminal Bonds", and shall be in
<br />~ueh fom~ and of such denomimations as will be In the Judgment of the Common Council
<br />be most likely to conduce to their salability.
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<br /> Section 3. That the money derived from the sale of said bonds shall constltut(~
<br />a special fund, designated the City of E~:gene Park and Terminal Bond fund, and
<br />be ,:used for no other purpose then h~reln provided,
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<br /> Section 4. Th~ bonds hereby authorized shall be a general obligation ~f the
<br />City of Eugene, payable out of the $~deral ~unds m~d the Co:maSh CounCil shall in-
<br />elude in its ~nual tax levy a sufficient special t~ levy to maet the interest on
<br />said beads, ~d in addition thereto, in making the ~nual t~ levy next succeeding
<br />the expiration of five y~rs from the date o~ said bonds, and annually thereafter,
<br />the Common CounCil shall levy a special t~ sufficient to ralae a sum of $7000.00
<br />to constitute a. sinking fund for the pa~ent of said bonds.
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<br /> Section 5. Whene~er any of said bonds shall be by their terms payable, at the
<br />option of the City and there shall be in said sinking fund a sum sufficient to take
<br />up on~ or more of said bonds, the Co-men Council shall by lot sel~t a suffle lent
<br />numbem of s~ld bonds to t~ce up the money accumulate1 In said sinking fund as near
<br />as may be and shall imm ed i at ~l~ cause to be publ[sh~i In some newspaper published
<br />In Eugene In not leas than three weekl~ issues 'thereof, a notice specifying the
<br />numberes of the bonds so select~ for p~ment and thereafter said bon,l~ shall be
<br />paid on demand by t~e Treasurer of the City of M~g~ae from said fund at the of Cloe
<br />of ssld Treasurer, ;:~: Interest on ~y bonds so selected for redemption shall cease
<br />with the next interSst oavin~ o~rtod fe~l~wt.~ *.h~ da*,~ ~e +.~ ~=~+. n,,~,~.+~.
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