HomeMy WebLinkAbout1989-15 Issue Improvement Bonds (LID District 59)
RESOLUTION NO. 89- /";i-
A RESOLUTION OF THE CITY OF ASHLAND, OREGON,
NJTHORIZING THE ISSUANCE OF CITY IMPROVEMENT BONDS
IN THE MATTER OF CONSTRUCTION OF CURBS AND PAVING IN
WHAT HAS BEEN DESIGNATED AS LOCAL IMPROVEMENT DISTRICT' NO. 59
WHEREAS, the Mayor and Council of the City of Ashland did,
after due notice, proceed to construct curbs and paving in the
Local Improvement District No. 59 and Levy an assessment for
special benefits accruing to the parcels of land affected by the
abutting on, such improvements; and
WHEREAS, there have been applications by the owners of
parcels of property abutting on such improvements to pay in
installments the special benefit assessments incurred by reason
of said improvements; and
WHEREAS, the Bond Lien Docket of the City of Ashland has
been made up, as provided by section 223.230 of the Oregon
Revised Statutes, for the amount of such unpaid assessments for
which applications to pay in installments have been filed, to
wit:
NAME NUMBER DESCRIPTION AMOUNT:
CAPPADONA,
PAUL & MCKENNA 434 05CD 600 $6,324.40
HUNTON, ROBERT & LISA 436 05CD 607 3,884.40
COMFORT, ROBERT & BONNIE 438 05CD 804 3,725.66
EGGLESTON, JAMES & LAURA 439 05CD 805 709.65
ELLIOTT, MARY MARGARET 440 05CD 806 3.725.66
DISTRICT 59 TOTAL $18,369.77
NOW, THEREFORE, THE PEOPLE OF THE CITY OF ASHLAND RESOLVE AS
FOLLOWS:
SECTION 1
That there be issued, Local Improvement Bonds of the city of
Ashland in the amount of $18,369.77 (Eighteen thousand, three
hundred sixty nine dollars and seventy seven cents) said bonds to
be dated June 1, 1989; to bear interest from the date thereof and
be redeemable at the office of the City Recorder of the City of
Ashland, Jackson County Oregon, to mature in ten (10) years from
the date thereof, and be designated as Improvement Bond No. 1 in
the sum of $369.77 (three hundred sixty nine dollars and seventy
seven cents) and Improvement Bonds 2 to 10 inclusive, in the sum
of $2,000 (Two thousand Dollars) each; provided further that said
bonds shall be payable in legal tender of the united States of
America and bear interest at the rate of 8.5% (Eight and five
hundredths percent) per annum, interest payable on December first
and June first.
SECTION 2
That the Mayor and City Recorder of the City of Ashland, Oregon,
are hereby authorized and required to make and execute, on behalf
of said City, said Improvement Bonds as herein above specified in
the amount of $18,369.77
SECTION 3
That whereas sufficient monies are available in the Cemetery
Trust Fund, said bonds shall be sold to the Cemetery Trust Fund
for inclusion in its investment portfolio.
The foregoing resolution was READ and DULY ADOPTED at the
regular meeting of the Ashland city Council on the 16th day of
Mav, 1989.
SIGNED AND APPROVED THIS
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day of ~/.J/'!)
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, 1989.
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Catherine Golden
Mayor
ATTEST:
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Nan E. Franklin
City Recorder