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HomeMy WebLinkAbout1989-21 Issue Improvement Bonds (LID District 61) RESOLUTION NO. 89- -x-'? / A RESOLUTION OF THE CITY OF ASHLAND, OREGON, AUTHORIZING THE ISSUANCE OF CITY IMPROVEMENT BONDS IN THE MATTER OF CONSTRUCTION OF SANITARY SEWERS IN WHAT HAS BEEN DESIGNATED AS LOCAL IMPROVEMENT DISTRICT NO. 61 WHEREAS, the Mayor and Council of the City of Ashland did, after due notice, proceed to construct sanitary sewers in the Local Improvement District No. 61 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 FREDRICKSON G.E. & Alceste 583 10 B-600 $2,400.00 NORTHCUTT, Jack D and Betty 584 10 B-700 $2,400.00 NORTHCUTT $2,400.00 Jack D and Betty 585 10 B-800 DISTRICT 61 TOTAL $ 7,200.00 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 $7,200.00 (Seven thousand, two hundred dollars and no 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 $1,200.00 (One thousand two hundred dollars and no cents) and Improvement Bonds 2 to 4 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 9.0% (Nine 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 $7,200.00. 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 oftheAshland City Council on the 6th day of JUNE, 1989. SIGNED AND APPROVED THIS 9/t: r' ' ,.~ . .' day of :: ~~~-.z. <.->'-- , 1989. I"/;:-~:...'-.,....-..... ~ -/'... -~:k"-r"C.7C-____. Catherine Golden Mayor ATTEST: ~ J , // - , ......- " , ' ' " "'7 ., ,,'.' - i'l..u..r~ //z ?(;'''7<-;(L~ Nan E. rFrankl in city Recorder