HomeMy WebLinkAbout10/26/1931 Meeting
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Council Chambers, Eugene,
October 26, 1931.
,e Minutes of the adjourned meeting of the Common Council, held at the
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.......... hour of 7: 3-0 (), clock P. M., October 26, 1951. Council was called t.o order by
L.......... Mayor R. E. Wilder wi th all councilmen present, except Reid.
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~ Counci.lman Edwards, member of the Park Board, recommended that the Park
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Board :favor the trimming of trees at a di stance of eight fee t above the sidevvalk,
and tha t due notice be given the property owners till'bugh the paper requiring them
to trim their trees which are overhanging the sidewalks, and that upon the failu.r
of residents tio comply with the order that steps should be taken to see tha t the
trimming be done under the direction of the Park Board. Motion was made, se conde ,
and carried toad 0 pt the recommendation.
The claim of a YOllilg boy by the name of Delvlain was on request of S. M.
Calkins re-referred to the Judi ciary Commi ttee and C-i ty Att orney.
Peti hons of the Spencer Creek Local Union and the Crow Grange Ira. 450, .
asking the council to establish through !:Streets on vJest 11th "'-venue and liVest 6th
street, were r'eferred to the Street and Police Committees.
Re po rti of Hobi Airways Company for the month of August was" read and
I filed.
I A communication from Dey, Hansen, and Helson, Atto.rneys, l"elating t.o the
assignmen t of the Eugene Bus franchi se t age the r with a communica ti on asldng for'
the continuance of: service" lines tot he Hansen Lane to serve the employees of the
Railroad Terminal<Yards, was all referred to the Judiciary Committee.
I The offer of L. M. Watson to sell his delinquent tax certificate on the
Mathew's property, described as Lot 6, Block 2, Harris Addition, was referred to
I the City AttoJ:'ney to report back the legal status of the City's interest in this 0
ma tte r.
I The Finance Committee, by Chairman Large, recommended the following serie
I of resolutions concerning financial matters:
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The following resolution designating Chase National Bank, the fiscal
agent for the :3tate of Oregon, to act for the City in handling its part of the
$300,000 Via te r Bonds for t he pay-men t of bond sand int e res t, was on moti on, duly
1 seconded and carried, adopted:
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n RESOLUTION
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I WHEREAS, it appears that in some of the outstanding bonds of the City 'of
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I Eugene provision is therein made for the payment of said bonds and more particula ly
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referred to as the $300,000 Water bonds, issued in 1908', due in 1948, wherein sai
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!j p~yments were made payable at the bffi1king house of Kountze Bros. ~n New York City,
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II Whe reas, it now appears that said baw(ing house of Kountze Bros. is in
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II the hands of j;11e l~ece i ver and no longer in a po si tion to handle the mal,; ter of
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I ~ said bonds and interestt and it appearing that Chase National Ba~k of New York
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Oi ty has been designated as the fiscal agent of the State of Oregon in the City
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of Hew York, and tha t said bank is a responsible organization and satisfacto.ry
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j insti tution to handle the mat'eer of payment of said bonds and interest thereon
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I for the City of Eugene, and
Vlhereas, said bar~ has expressed itself as willing and desireous of ac-
~ cepting said .responsibility, I'
Now, Therefore, be it resolved that the City of Eugene by its Common
Council does here'~y designate, appoint, and au th o1'i ze said Chase Nati onal Bank
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as its agent :for the purpose afor'esaid, and furthermore and expressly authorize
said Chase National Bank to collect and receive from the said Kountze Bros. Bank
and from the (luly appointed receivers thereof any and all Silins of money which .'
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may be held in tru st by sai d Kount ze Bros. for thepul~po se aforesaid. tt
The following resolution directing the Oi ty ~.reasurer to" return by ..
I transfer, from the sinking funds to the general fund, the sum of ~8,719.92, which
amount the ge ne ral fUnd had advanced for premiums and accrued interest for the ,;)
purchase of bonds in sinking fund investments, was read, and a motion made, sec- 't-:'
onded, and carried to adopt the resolution: '--'r..~
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II RESOLUTION
WHEREAS, heretofore the City of Eugene has purchased at various times
for an investm~nt of sinking funds various issues of bonds, and
WHEREAS, as the purchasers of said bonds it has been necessary to pay
interest and p.r'emium charges in acclLuring title to said bonds., and.
. Vv1IEREAS , the inter'est on said b on(ls will accrue to the be nefi t 0 f the
sinking funds, and the premium paid was a proper premium to be paid out of the
sinking fUnds fOl" the purchase of said bond s, and
Wherea s, the 'I'reasurer has advanced said charge from the general fUnds
of the City in accpllr'ing said bonds,
Now, Therefore, be it resolved that the City Treasurer be and is hereby
authorized and directed to transfer from the si liking funds to the Gene ral fund
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sai d sum of $8,719.92, be ing the amoun t ad vanc ed by him out of the general fund
in connection with general purchase~. If
The following resolution was read, and a motion was made, seconded, and
~I carried to adopt the same:
rf RESOLUTION
Be it resolved by the Common Gouncil of the City of Eugene tha t the Ci ty
Trea surer of said Oi ty be and is hel'eby instruc ted that the earnings from all
sir~ing fund investme~ts shall accrue to , and be credited by him to the sinking
funds, and for the purpose of fixing a defil'}lte date thi s rule shall s tr ic tly
apply commencing Nov. 1st, 1931 , and thereafter. IT
The fo 11 owing re sol uti on dire C t ing the G ity 'rreasure r to all at to each
sinking fund its pro rata share of sin};:ill.g fund earnings on the first day of
--.... January and July of each year and deteri~ne the pelicy of the Gouncil with
.' re fe renc e to sir~ing funds was read, and on motion duly seconded and carried was
a do l' t e d :
tI RESOLUTION
Vmereas, heretofore and from time to time' and from year to year pursuant
toOauthorization of various bond provisions, the Common Councii of the City of
Eugene has levied taxes fOl~ the creation of Sinking Funds for the various bond
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issues, for the pU1' pos e 0 l' l' et i1'ing said bond sat the i1' ma turi ty, and whe1'eas said
accumulated sillicing funds aggregating the swn -of $246,591.~are invested in B.onds,
Warran ts, Cash and vari DUS secure.ties and a t varying ra te s of interes t, and
I whereas it would b'e difficult to allot any definite investment to any particular
sinking fund in exac t amount, and whereas each sinking fund will share more justly
in the earnings upon these va1'ious investments upon a pro .rata basis, now there-
fore be it
Resol 'led, tha t the Trea surer shall hold all of said investment of BOndS,
t.:iliii' Warrants and Cash and secupeties and the earnings therefrom in trust for the
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benefi t of all of said sinlcing funds, and shall semi-annually on Jany. 1st and
,- ,. July 1st of~each year allot to each of the sil~ing~ funds now existing its pro I
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0: rata share in proportion to the amount of said sinking fund on hand at said annual
and semi-annual accounting periods.
I t is the i nt enti on of the Common Council by this authorization to provide
continuously 1:;he most advantageous investment of all funds available for the
benef it of and the most favorable accumulation of sinking f\lnds with the least
burden upon the taxpayers of the Ci ty and any sur plus or deficits in the adjust-
ment of siYL'k:.iIJt; fund to bond retirement requirements, shall be made with .reference .
to all demands as they shall fall due, and any accruals to any fund from earnings
or otherwise which shall exceed the requirements of that fund shall be carried
I forward to fut;ure ma turi ng bonds and shall not under any circumstances be di ve rted
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1 fr~om sinking fund purposes to or fOl' an:l other purpose whajjsoever. II
At thl. s time Councilman Reid appeared in C01.Ulcil.
An Ordinance prohibiting the owner or person having contol of any female
I dog to permit said female dog to run at large while in heat, and forbidding the
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I owner or person having control of any habi tllally vicious dog or mad dog to permi t
such dog to fttn at large in the City of Eugene at any time, and declaring an
emerGency and repealing all ordinances and parts of ol~dinances in conflict here--
with, and prov"iding a penalty was read the-first time, and passed its second and
tl1ird readings by ti tle by unanimous consent under suspension of the rule, and
was placed on its final passage. The a~Tes and nays were called, all councilmen I
voting aye, nay, none. The Ordinance was declared passed and numbered 8277.
Councilman Reid moved that the bill of Chase Company against lvirs.. Reim
It for $10.00 be di sall owe d as a claim against the Ci t y of Eugene. I....loti on was duly
see onded and carried.
j City Hecorder called attention of the Council to the pa.etial failure of
I anticipated l'eceipts of the City to realize the budgeted estimate of receipts and
the possibility of a small deficit at the end of the year, unless a strict curtail-
I mentof expenditures and better realization of receipts sho"'J.ld he experienced dur-
ing the last two months of the year.
Councilman Lamb moved that the Street Committee be authorized to cut out
trees standing on the South side of 20 th Avenue bet ween Alde r and Kincaid S tree ts ",
where the sarne are clogging the sewer with roots and are a menace to the sewer
sy s,tem. Motion was seconded and carried.
Chairr.:lan Simon moved that the Chief of Police be authorized to hire six a,.
additi onal men for pa troI work 011 the night of Halloween. Motion was seconded
and carried. ,
Mayor Wilder alillounced to the Council the appointment of the followi ng ,.;
named persons to act with the City Council as a bUd~et Comcllttee: Lynn S. McCread Y', -.:
Clat'ence Lombar'd, A. R. Tiffan;,yT, Wm. fugman, H. C. arley, Percy Brown, Chas. "
Schaefer s, and Mrs. W. C. Underwood. -,
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I On moU on Council adj ourned. "'\'
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lie :::;. Bryson, "
j. City Recorder.
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