Ord 1495CovNCZL BzL~ r~o. 24?
ORDINANCE TAO. 14 9 5
AN ORDINANCE DIRECTING THE CITY RECQRDER TO CALL FOR BIDS FOR $?40,000.00
i~IUNICIPAL BUILDING BONDS, SETTING A TIC FOR RECEIVING AND CONSIDERATION
OF SAID BIDS BY THE COMMON COUNCIL, AI!iE~~DING ORDINANCE N0. 1494 BY
CHANGING THE MATURITY DATE OF THE BONDS AND THE DATE ~'OR THE RECEIPT
QF BIDS FOR SUCH BONDS, AND DECLARING AN E?!~RGENCY.
THE PEOPLE OF THE CITY OF ~dOODBUR~'~ DD ORDAIN
Section 1. That Section 1 of Ordinance No. 1494 of the
City of t~toodburn, be, and the same is hereby amended by changing the
maturity date of the proposed bonds to read as follows:
Beginning with the first day of January, 19??, said bonds
shall mature in the order of their serial numbers at the
rate and on the date and year specified as follows:
$30, ooo, oa
$30,000.00
$35,000.00
$35,000.00
$40,000.00
X40,000.00
$45,004,00
$50,000,00
on
on
on
on
on
on
on
on
January
January
January
January
January
January
January
January
1, 1977
1, 1978
1, l9?9
1, 1980
1, 1981
1, 1982
1, 1983
1, 1984
$50,000.00 on January 1, 1985
$55,000.00 on January 1, 1986
$60,000.00 on January 1, 1987
$60,000.00 on January 1, 1988
$65,000.00 on January 1, 1989
$70,000.00 on January 1, 1990
$?5,000.00 on January 1, 1991
Section 2. That Section 3 of Ordinance No. 1494 of the
City of Woodburn, be, and the same is hereby amended by changing the
date of such opening from the 25th day of November, 1975, to the 3rd
day of December, 1975.
Section 3. That the City Recorder be, and he is hereby
directed to publish a notice calling for bids on the $740,000.00 City
Municipal Building Bonds, as provided for in Ordinance No. 1494. That
such notice shall set 12:04 noon, PST, Wednesday, December 3, 1975,
as a time for the receipt of all bids, and the time for the opening of
the same and the consideration of the bids submitted.
Page 1 - COUNCIL BILI- N0. 24?
ORDINANCE N0. 1495
Section 4, That said notice shall provide that bonds will
be payable in lawful money of the United States of America and will
bear interest at the rate designated in the accepted bid, not exceeding
a net effective rate of 10 per cent per annum, payable semi-annually
on the first day of January and July of each year subsequent to the
date of issue. Principal and interest are payable at the office of
the City Treasurer, City of Z~doodburn, Oregon. Bids for less than par
and accrued interest will not be accepted. All bids must be accompanied
by certified check or cashier's check for not less than X14,800.00.
The Common ~'ouncil reserves the right to reject any and all bids.
Section 5. That the native of sale will represent that the
successful bidder v~ill be furnished with a written opinion of Rankin,
t~lalsh, Ragen and Roberts, Attorneys of Portland, Oregon, to the effect
that t~;e bonds constitute a valid and legally binding obligation of
the City of C~loodburn.
Section 6. That this Qrdinance being necessary for the im-
mediate preservation of the public peace, health and safety, an
emergency is declared to exist, and t~~is ordinance shall take effect
upon its passage by the Council and approval by the N~ayor.,
r
/'
R~L E. PIC~:ERINC,, ayor
Passed by the Council
Submitted to the Mayor
Approved by the 1~ayor
Filed in the office of the Recorder
,,.-~
ATTESTED .. '~`~~~ Y
BARLEY 0. ,URRI , Recorder
City of Woodburn, Oregon
November
- 10, 1975
,....
_ November 10f 1975
November 10, 1975
November 10~ 1975
Page 2 - COUi~CIL BILL X30. 247
ORDI7~ANCE rto . 14 ~ 5
I, BARNEY 0. BURRIS, Recorder of the City of Woodburn, do
hereby certify that I posted three copies of Ordinance No.
1495, one of which said copies posted in the City Hall on
the bulletin board opposite the entrance to the Recorder's
Office, in full view of the traveling public; a second one
of said copies posted on the Woodburn Public Library bulletin
board at 280 Garfield Street, in full view of the traveling
public; a third one of said copies posted on the Paul Sowa
and Sons building at 182 Young Street, in full view of the
traveling public; that all of said places are public places
within the corporate limits of the City of Woodburn and
that all of said copies were posted on theme day of
November 19 75.
,~,~~
BARNEY 0. RRIS, RECORDER
City of Woodburn, Oregon