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HomeMy WebLinkAbout572 Issuing Water Bonds r . _ a ~ ~ . e ,An ordinance previdin~ for the issuance of auxiliary pater bonds of the City of ~sh- land, Oregon, in the stun of One Hundred and .~evPnty-five Thousand (~1'75,flOfl.flfl ~ Dollars, for the purpo e o ° cons~.r~atin~;, buil~'ir~~; n~, installing an a,r~iliary Municipal pater syste~ to be o~nned by the City of Ashland, Oregon, €~~nr~ to be opera#;ed by said City or bq any board or bo~~rd~ of cor.~issioners that ~:na.y hereafter be cre€~f~ed i'or such purpose; to " extend pipe lines front any s ~~ring or snrir~gs or other hater supply, either ~;~ithin or v~ith- out the corporate limits of s~.id eitUr end to any point or ~~laees in or about s~i.d city, ~~nc~ to purch~.se all mater rights, riMhts of ~sy, Ie.nc~, equipr~snt, r~aterial, I€~L~~or anc~ supplies neceUsary thereto. iI~E ~FOp;GE n~ 7~~ CITY C~~ ~"~;`~~~~~a~p ?'O O~:PAI~~ A~~ fO~aTO',~5; Section 1. That there are; hereby authorized to be issued the bonds of the City of Ashlanc?, Oregon, to tl:e mount of one ~<unc~rec~ any? Se~•Qnty~-fire 1'hou:~€~nd (~175,~00.00~ ~Do11rr:~, in denomina-~ Lion ~ of tine ^hou~~~nc" ("'1fl4fl.00 } Dollars, nura~aerec~ conseczztively from one to One Hundred and Seventy five, both inclusive, an=? to be .~n~a~n as "9u~iliary ►fter ?sonde." Said bonds shall be de,ted the 1st day of July,. Isl4, ~.r~d sb~.ll be ui~;ned by the ".ayor and eountersigrted by the Recorder, ~~nd she? 1 be~xr interest evil ~noed 'Eby coupons atta~;hed thereto at the rate of five (aJ per cent Iaer &}'111i1m, payable semi-a~~ually, °tnd both nrinai~~e.l and interest of laid bonds shill be paid. at the city tre=~urer's~office in the City of Ashland, Oregon. • Se~ti on . Such a.li~,iary ~g~ater bonr?s shall maturo fn forty-dive years fror~ the date thereof; orovic~sc3, th€~.t the First trenty five of such bons~s, nut~ber~;cl fror~ one to t,enty-five, bath inclusive,, shall e€~.ch ire redeQr~able a.t #.he option of the City of ~.~hlnnd, upon the yrlent of thy; -~"~.ce v~lt~s tl~sreof ~r~.~;h ~.~eru8c~ intsres~ to ~'~tto of p~yr~ent o.t a~~y semi-s.nnual• coupon paying' period, €~t or s,fter ten years fror~ the eats thereof; that tl~.e next t~~enty-five of ~~.id. bonds nurabere~ from t~~;°enty-five. to fifty, both inclusive, shall each be redeemable at the option of the City of .~shland , upon #,he ;~a~raent of the face value thereof r~i~th accrue d interest to date of payr~ent a.t any seni-annual coupom p€~yin~; ~~erios at or fterfiftee~n years Eton the date the: eof; that 4the nxt t~enty-five of said bonC's numbered fom fiftywone to sevent!=_f`i,ve, eac~i both incluiva shell~be redeemable at the option of the City of Ashland upon the pigment of the face value thereof' pith aQer~~er~ interest to the date of payment at any Beni-ennual coupon ~:~aying pf~~:~~io~: at or after t~renty years fr©m the c~~.tP thereof;- ~~tic~ that tie next tv~snty-fi.v~ • 4f said bonds numbered from seventy-~f~.ie tp one hundred, both inolusi~s, sh~11 each be~redee~- . able <<t the nptic~n of t~~e City of .Lshl~ncl, t~pan the ~a~,~nent of the f ace value ther+,of ~~aith accrued interes#, to da~:,e of 3~ay~snt at a.ny semi-annual cc~.~o~- ~~taying period.,. at or after tr enty-fi.vs `rears from the elate thereof; that the next twent~,~-five of sai ~ bonds numbered from r one hundred ant? cane to one hundrPC~ an~~ t~enty-five, both inclusive,. shall e€~ch be rarleenable at the or~tic~n of the City of Ashland., u~aon the payr.~ent of the face value thereof, ~3.th acc.~uec~ intera~=~t to rate of ~sy►~ent at; €~ny ser~i-s,~Snus.l coupon payin#~ ~~eriot~~ at or after thirty years; ti±at the next twenty-.five of said bonds, nrz~mborec? from one hunr~re~' and #;►~enty-~iz~to one hundred ~~nr~ fift;~, both inclusive, shall Bach ~e redeem€~bls at the option of t}~e Gity of Ashland, u,on the ~~ayr~ont cif f,~je f~~ce valu+~ thereo:~ ~~ith ac~rlied intareut to r~~.te of payr~ent at s.ny semi anr~u€~~. ~~ounon ~a~'~n}~ ~,orioc~, ~,t or of er thirty-fi.~:-s yc~f=rs; that t~~~e nowt tn~nty- five of s~=ic1 bond: , numb~:rec' Eton one hundred am fiat~~-one to t~nQ hundred an~•' seventy-five both inclusive, shall be re~eemable at the option of the CitJ of A;~hlanr' upon the paym€nt of the face yr lue thereof t~ith accrued interest 1:0 Fats of ra~,tltne}1t nt a.nz7 ;semi-t?nn»r-~ nn~~~n~  - v - v - - Y ......t....» paying; period at or after Forty years arc? before forty-fife years from the Oa~tethereof. And notice statinrr that certain bonds, are to be taken up an(' cancelled, an,- that the interest Cher on shall cease at the interest psyinp; period next following, shall be. nublished in aY1rll251'~per. T - , printed and published a~~d of general e:irc3ul~~tion in Jaohsan County, Oregon, not lase thaab, three tines during the r~onth precerlin~, said semi-annual caupan paying period, .nc~ after the said sem3.-a.nnua.l co-upon .=paying ~;criad, interest upon the bands designated in said notice shall cease. aeC~'~i ~ die Carman Ca~zncil shall yell such ~~anc~s, ar sa r~uch thereof as ray be necessary at the highest price obtainable, but far nab less than par ,end accrued interest for the purpase of ~~rovir~ing r~oney to canstruct, build. ~~~d '~,in;~tall an aug3.l ary ri€runcipal grater system to be a~ec~ by the City of. A:~hland, ~'regon, ar~d t~~ be apexated by sa~~d city or by baarc~ ar boards of ear:~issianers that m~,y herea er 'fie ceeated far such purnboe, to extend pipe lines from any springy ar springs ar oth'i~r ~a.tr~r supply, either ~iihin or ~ithaut the inear- parate limits ai' said city anr? t,o any p~aircts or places in or abaut said city anr' to porch se all ~vater r3.ghts, rights of ray, land, ar~ipment, material, labor a,nft supplies necessary thereto. SeQtio~~ 4. ~hc~ bonds hereby authc~ri2ed shall be r~~;istered respectively by nur~br;r anc~ dena~ination of eaoh in the Land. Rogister, kept by the ~~►aar~er of said city, and said. bonds shall be in substantially the follo~in~; farm: I~LD SiATLS A.i~~i0~ STA~':^ O t~~t~GQ~d Ci~'"Y' 0~' ~To. ~.UiI~,IA~~'~`~.~F~ L[~}. X3.000,00 '~?0'~ AI,h ?i"~'~ '~Y a'I?"S'; ~:~R~S~~t~S "_'h~t the Cat°y of ~shlan8, in the County of Jackson, State of Oregon4 fvr v€~l~e recQived hereby ~~;reP~ at~r`~ ~~~amises to ~,ay tie b~.rer ~`he sure of One Thausand f ~1000.fl0 } Dal~.rs in ~alc~ coin a~' the ''n~.tQ'c~ ? tats o:f ~.r~erica, an the presentation and snrrenc~ax of thf.s obligation an tlr~ lst rlt~tiy of` .~rz3~f 199, r~ithout grace, erith interest thereon, iron the date hereof until r~~r'eem~~ble gat ~'t.hE rate of Jive (5) ~►er cent per a,E~nun, payable semi-a. ~rnza.lly, in Ii,ke ~;ald a~in ~n the lit day, of July and Ja.n~~ary of each yQar on the presentation ~:nd sttrrenr.'ar of the ~~roper coupon hereto ax~~~exed? ~'rincipal artd interest payable at the o.~"fioe of the ~ Measurer of the City of Ashland, Ore,~r~, 'his bond is one of a series of an~~ hurl~~red; a~~` seent~*-~f~.ve bearing; even date he.~~ e~ith 1 and nuraabered consecutively from one to one hun~d ~nr~ , seventy-five,. both inclusive, and aar~aunting in the aggregate to the sum of Orie kIu~n`re~ ~e~r~nty-f~.ve ~housanc~. (~175,000.(~0 issued by the Citd~ of Ashlanr~, Oregon, for the ~~urp~e of','providing money to canstru~t, build and instal, as A.ux3.li€~ry ~z€~tFr cyst ta~ bye a~rn® by ..:the City of Ashl€~nd, Oregon, and to be ode rated by said city ~?r by a~ boarr~ ~cbr baar~~s o~~1 oammi,ssioners that may here- after be areatsd far such purpose, to 'extend pi~?e lines ~'r.or~ sny s;,rin~ or ~-~rin~;s or other ~j. t~atFr supply, either Within or i•~ithaut the inc~iora,te li~it~ of sir? city end to ~ points or places in or about said city, anr' to,~urchas~ al~~~ter rights, rights of gray, l~.nd, e~uipr~ent, nPteria,l, IabQr a.nc~ supplies ~e~ry thereto. ''the -a:u#;hority for such issue is derived from ~.ectian 3 of Article viI of'the 4.harte:~ of ~€~.ira c~.t~, and is in carliance with the :~a.~ority vote of thQ r~lQetors of said city at special elation duly c<lled end held on the 9th day of June,- 1.914. ~",nd it is hereby recited a~.tl eartriied that ~~all the ants, c~pn~siti~ns anc things renuir- ed to be done precedent to and in t~~e iss~~~.r~g cif t1~~ry bond. nece~~~ry to r~a~e t-he ;game l.e~al .a  . f and valid have been }properly done, happened and bean performed Inro~*ular in due form end time as required by Law, anO that 'rho t6taj in; ebtedness Q;T ,~3aV, ci 'Y of Aohlen.d` T including this issue of bonus daea not exceed the limit r reseribed by lay. phis band i8 .redeemable at the of ~iae a~ safe Treasurer at the option of the City of Ashland., upon the I~ayment of the face value thereof, pith accrue d interest to daf~e of pay- neat e.t any sere,-annual ct~upon paying; R+~rfod;, Rs provici~~d fn Section 2 of rdinanQe ~o. 5'?2 sp~eial reference being made thereto an,~ th,~ said sectfan being mace a rt here i~ af. For the fnlfillr~ent of tie eonditic~r~ of thi ^ oblfgatian the faith r;~n:~ creel i of the City of Afihlartc~ are hereby pler~ged. I~' e"i~'PSS R'~R~OF, this bend has ~~een signed. bq the ~'aJor any a~;~ sated b t y he Recorder of the sad,,, City of ~shlsnd, and the carer ate seal of the Cit1 of Ashland J hereto affixed, as of ~he l~ r~~ of ~'1z~ f, 19.4• Jor .Attest: ~.c~co ~~r a ~y o a.nc~. COU~~1~, ~Qs ~25.~Q ~'he City of Ash?and ~aill pa~~ t5e berrer went -five ~ y •aoJ Ik~llars in gala Cain of the United St- te$ of Arraerioa at the o~'fiae a~ the ~re~surer of sa c~ i city on the lit day of July, ~3~nuary, l9 lei sip ~ianths interest 4n Au~ilis: date ~ r Bond Ra. un1 ess said band ~.s saonar redeemed as herein r~rovi~~ec~, ~vhich rederriptian ~ri11 re radar this coupon vof d. :-ryar ~ . ~T~c a r er~~"~""~'o " ~ nc~."` Section 5,, the "'ayar anc~ Recorder of the City. cf ~`?hl~'nf', 4re~an ~rt3 hereb . y authorized and req qui;red to make any ex~;cute in behalf' a:f.' said city the ~uxili u pry ~^ter Bonds spacifi eel in this ordinance '~a the arxaunt of One I~undred Sev~~t -f n F, , y ive ~hou.~and (~175,0~OO.QO} Dalls.rs, e.n~? the Fecorder shall advertise such bc~nr?~; for ss,l;e, aid the lame shs,12 be wold far the highest price obtainable, but nor n~~t Tess th€~n par amd accrued inters st at five j5} per cent per ebn~ um from July 1st, 1914, said €~.~°vertising to be ublished P in a ae~spaper of general cir- culation in J€~ekson Caunt.~~, t~regan, and in such at~er rib °r pu~llcG erns p l~.cati ~ has in the jttdgr~ent of the City Recorder rri11 secure the best results fnvitin; s ~ ~ ealec? bide ~'or said bands. Sect i ors This ordin€~nc~e shah. take of eci; anc? be in full; for e ~ from anc? after the dite of issuance of the praclamati an of the ~i,~yoP of sf° id City, t~ c±ela~rin '~,t g ~.e result of the special election held thereon a~ pr©vic~e~' by 1~==~, . 1 5 ; State o f t?regon } Caun } ss. ~ . ty of Jaairsan } ' ; I, C. H. Gillette,. Recorder of the City ~f Ashy^~nr3 i.n '~~e (;cunt ~ nc3 S y .tr`te aforess,id, he~~eby cerfify that the l~ayarts proclar~tia as to the resu~,t` of th e election on the foregoing ordinence, r~u1y published ~`r~~ p x~vi d ec~ by lay, as 1914 in the Ashl~~nd net~s~~zner nnhi ~ ~hr~r~ n~ _ , _  VI lton.lanav rrepon rangy oI en rral circulate no Recorder o Ashlr>n , regan. s