HomeMy WebLinkAboutORDINANCE NO. 9416X32
ORDINANCE NO~. 9416
AN ORDINANOE AUTHORIZING THE ISSUANCE AND SALE OF >~123,903.29 OF IMPROVEMENEB BONDS OF
THE CITY OF EUGENE, OREGON, AND DIRECTING THAT THEY B.8 ADVERTISED FO R,SAL~, ALL IN ACCORD-
ANCE WITH THE PROVISIONS OF Cg1YPTER 21 OF TITLE 95, OREGON COMRILED LAWS ANNOTATED, COMMONLY
KNOWN AS THE „BAN CROFT BONDING ACTS AS AMENDED.
WHEREAS, THE CITV'OF EUGENE, OREGON, HAS HF~RETOFORE CAUSED CERTAIN STREWS TO BE IMPROVED
ANO CERTAIN BEtWQRS TO BE LAID AND INSTALLED AND CERTAIN SIDEWALKS TO BE CONSTRUCTED WITHIN
SA10 CITY, AND HAS ASSESSED.THE COST THEREOF TO7HE PROPERTY OWNERS ABUTTING THEREON AND
BENEFITTED THE REBY•IN ACCORDANCE~WITH THE PROVISIONS OF THE CHARTER OF SAID CITY AND SA10
CITY~S ORDINANCES AND
WHEREAS, MAPfB OF THE OWNERS OF THE PROPERTY SO ASSESSED FOR SUCH IMPROVEMENTS IN A SUM
EXCEEDING 25.00 HAVE DULY MADE AND S16NE0 APPLICATIONS TO PAY SAID SE'RERAL ASSESSMENTS IN
TEN ANNUAL INSTALLMENTS'IN ACCORDANCE WITH~THE PROVISIONS OF SAID BANCROFT BONGING ACT; AND
WHEREAS, AN ASSESSMENT AND BOND l1EN DOCKET HAS BEEN FULLY MADE UP IN ACCORDANCE WITH
THE PROVISIONS OF SAID BONDING ACT, AND THE TOTAL AMOUNT OF •THE UNPAID ASSESSMENTS FOR SAID
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IMPROVEMENTS AND THE LAYING OF SAID SEWERS FOR WHICH APPLICATION HAS BEEN MADE TO PAY THEREFOR Ui~
UNDER THE PROVtS10NS•OF SAID BONDING ACT IS THE 'S UM.OF~$123,903.29 AS SHOWN BY SAID BOND
LIEN DOCKET ON PAGES 198 AND 262, INCL'.iSIVE, OF VODUME 7.
. THE CITY OF EUGENE~QOES ORDA{N AS FOLLOWS:
SECTION r. THAT THE CITY OF EUGENE, OREGON, DOES HEREBY AUTHORIZE THE~ISSUANCE•AND
SALE OF GENERAL OBLIGATION (hIPROVEMENTS BONDS ~SERtES C) OF SAID CITY iN THE AMOUNT. OF.
$123,903.29 IN SERIAL FORM AND IN DENOMINATIONS OF X1,000.00 EACH, EXCEPT THAT THE f•TRST
B~Nm SMALL BE IN THE AMOUNT OF X903.29, WHICH ISSUE OF BCNOS SHALL MATURE IN NUMERICAL
ORDER AND iN TEN iUCCEEDING ANNUAL INSTALLh~.ENTS AS FOLLWOS: A FIBST INSTALLMENT IN THE $CiM
OF s~6,903.29 OF ONE YEAR FROM DATE OF ISSUES ANO THEREAFTER EIGHT ANNUAL INSTALLMpNT5 OF
13,000.00 EAEH AND A FINAL INST~ALIMENT IN •T HE SUyI OF $13,000.00, AND 8HALL BEAR INTEREST
AT A RATE NOT TO EXCEED 6°fo PER ANNUM, PAYABLE SEMI-ANNUALLY, PROVIDOD, HO~BEVER, THAT SAID
BONDS SHALL BE SUBJECT TO REO®MPTION IN NUMERICAL ORDER ON INTEREST PAYING DATES ON OR AFTER
THE SECOND YEAR FROM ISSUE DATE.
SECTION 2. THAT SUCH BONDS SHALL BE SUBSTANTIALLY IN TBE FOILOWiSN FORM:
NO.
THE CITY OF EUGENE, STATE OF OREGON, {M•PROVEMENT BON OS
SERIES C.
KNOY! ALA MEN BY THESE PRESENTS: THAT THE CITY of EUGENE
IN THE COUNTY OF LANE AND STATE OF OREGON, FOR VALUE RECEIVED, HEREBY PROMISES AND AGREES
TO PAY THE BEARER THE SUM OF ~ IN LAWFUL MONEY OF THE UNITED STATES OF AMERICA
ON THE PRESENTATION ANO SURRENDER OF THIS OBLIGATION, ON THE DAY BF , 19 ,
WITHOUT GRACE, WITH INTEREST THEREON IN LIRE LAWFUL tJ,ONEY FROM THE DATE HEREOF WAtTiI PAID,
OR UNTIL THE TIME OF THE SEMI-ANNUAL INTEREST PAYMENT NEXT ENSUING THE PUllBLICATION OF
NOTICE B• THE CITY OF EUGENE THAT THIS BOND WILL BE TAKEN UP ANU CANCELLED, AND THE INTEREST
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~) THEREON WILL CEASE AT THE INTEREST PAYMENT DATE NEXT FOLLOWING SUCH PUBLICATION, AT THE RATE
II OF °~ PER ANNUM, PAYABLE SEMI-ANNUALLY ON THE DAT OF ANO THE
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I! DAY CF , EACH YEAR, ON THE PRESENTATION AND SURRENDER OF THE PROPER
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COUPONS HERETO ANNEXED, PRINCIPAL ANO INTEREST PAYABLE AT THE OFFICE OF THE TREASURER
' OF THE CITY OF EUGENE, OREGON. THIS IS ONE OF A SERIES OF ®ONDS AUTHORIZED BY CHAPTER 21 I
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OF TITLE 95, OREGON COMPILED SAWS ANNOTATED, AS AMENDED, COMMONLY KNOWN AS THE nBANCROFT
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j QONDING ACT° AND IS THE GENERAL OBLIGATION OF THE CITY OF EUGENE, OREGON, AND IS-NOT TO
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II BE DEEMED OR TAKEN TO BE WITHIN OR TO BE aNY PART OF THE IN DEBTEDNESS OF SAID CITY As ''
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II LIMITED BY LAW; AND IT IS FURTHER CERTIFIED THAT ALL THE REQUIREMENTS OF THE LAWS RELATING
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THERETO AND OF THE ISSUANCE HEREOF HAVD BEEN FULLY COMPLIED WI TN BY THE PROPER OFFICERS OF
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it THE SA10 CITY, AND THAT THE TOTAL AMOUNT OF THIS ISSUE DOES NOT EXCEED THE LiM17 PRESCRIBED
' BY SALD ACT•
I~ THIS BOND IS REDEEMABLE AT THE OFFICE OF THE TREASURER OF SAID CITY OF EUGENE, '
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I' yPON THE PAYMENT OF'THE FACT VALUE THEREOF WITH ACCURED INTEREST AT THE OAT E OF PAYMENT '
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~ ON ANY SEMI-ANNUAL COUPON INTEREST PAYMENT DATE ON OR AFTER TWO YEARS FROM THE DATE HEREOF '
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!~ AS PROVIDED IN SA 10 BO'NDt NG ACT•
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~I THE FAITH ANO CREDIT OF THE SAID CITY OF EUGENE ARE PLEDGED FOR THE FULFILLMENT OF THE i
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!. CONDITIONS OF THIS OBLIGgT10N.
IN WITPJESS UIHEREOF, THIS BOND HAS BEEN SIGNED BY THE MAYOR AND ATTESTED BY THE
RECORDER OF THE CITY OF EUGENE, OREGON, AND THE CORPORATE SEAL OF SAID CITY HAS BEEN
HEREUNTO A FF 1 XEO T HI S OAY OF ~ 19
ATTEST:
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~I C 1 TY RECORDER h9AY0R
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SECTION 3• THAT THERE SHALL BE ATTACHED TO EACH OF SAIp BONDS SUFFICIENT-SEMI-ANNUAL
INTEREST COUPONS NUMBERED NUMERICALLY FROM THE DATE OF ISSUE UNTIL MATURITY DATE THEREOF,
EACH OF WHICH SMNLL BE SUBSTANTJIALLY IN THE FOLLOWING FORM:
N0. CITY OF EUGENE, STATE OF OREGON
1GIICL PAY TO THE BEARER ~;.~ IN LAWFUL MONEY OF THE UNITED STATES OF AMERICA
AT THE OFFICE OF THE TREASURER OF SAID CITY ON THE OAY 06 ~
19 , BEING SIX MONTHS INTEREST ON (bPROVEMENT BOND N0. , $ERIES B.,
UNLESS SAID BONA IS S009ER REDEEMED AS THEREIN PROVIDED, WHICH REOEMPTIGN WILL
RENDER THIS'COUPON VOID.
CITY RECORDER MAYOR
SECT@ON 4. THAT THE MAYCR,OF SAID CITY IS AUTHORIZED AND DIRECTED TO 61GN SAID BONDS
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AND THE COUPONS ATTACHED THERETO, AND THE CITY RECORDER TO CUUNTQRSIGN THE SAME AND ATTACH
THE SEAL OF THE CITY THERETO FOR AND ON BEHALF OF SA10 CITY.
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SECTION 5. THAT THE CITY RECORDER IS DIRECTED TO REGISTER SA10 BONDS COL~S6CUTIVELY BY
NUMBER AND DENOMINATIONS OF EACH iN A BOOK TO BE KEPT BY HIM TO.BE KNOWN ANO DESIGNATED AS
THE IMPROVEMENT BOND REGESTER~° AND HE SHALL ALSO CAUSE TO BE DISTINCTLY ANO PLAINLY PRINlTEO
ON 7HE FACT OFEACH OF SAIQ BONDS THE REGISTERED NUMBER OF SUCH BONO~ AND THE WORDS pIMPROVE-
&IENT BONDS° WITH THE NANEB OF THE CITY OF EUGENE OREGON ISSUING THE SAME.
$ECT'ICN 6. THAT THE CITY RECORDER IS HEREBY DIRECTED TO ADVERTISE SAID BONDS FOR SALE
ANO CALL FOR BIDS ON SA10 BONGS TO BE OPENED AT THE MEETING OF THE COMMOW COUNCIL OF SAID
CITY OF X19___ BY PUBLICATIONS OF SUCH ADVERT.ISE-
61ENT AND NOTICE OF SALE AND CALL FOR BIDS IN THE EUGENE~REGISTER-~UARD~ PRINTED AND PUBLISHED
IN EUGENQ~ ORE60N~ NOT LESS THAN IS OA YS BEFORE SA10 HEARING ANO OPENING OF BIOS AND IN SAID
NOTICE OF SALE SET FORTH THAT THE BONDS WILL BE SOLO TO T.HE HIGHEST BIDDER THEREFOR OF FOR ANY
PORTION THEREOF FOR NOT LESS THAN PAR WITH ACCRUED INTERESTS AND THAT THE SEALED BIDS FOR THE
PURCHASE OF THE WHOLE OF•SAIB BOND ISSUE WILL BE RECEIVED AT THE OFFICE OF THE CITY RECORDER
AT THE CITY HALL tN THE CITY OF EUGENE OREGON AT ANY TIME BEFORE 7:30 P.M. ON THE DAY
OF ~ 19 ~ AT WHICH TIME AN BI PLC•CE THE BIDS FOR THE PURCHASE OF tA10
BONDS WILL BE OPENED ANO CONSIDERED BY THE COMMON COUNCIL OF SA10 CITY. ,
APPROVED BY THE MAYOR THIS
23RD DAY OF AUGUSTS 1949.
/S/ A. L. HAWN
ACTING MAYOR
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PASSED BY RHE COMMON COUNCIL
THIS 22ND DAY OF AUGUSTS 1949.
/S/ HENRY F. BEISTEL
CITY RECORDER
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