Ord 1494COUNCIL BILL NO. 246
ORDINANCE NO. 1494
AN ORDINANCE RELATING TO THE ISSUANCE OF AND SALE OF BONDS FOR CON-
SI'I~UCTION AND EQUIPPING OF A MUNICIPAL BUILDING TO HOUSE ADMINISTRATION
OFFICES, MUNICIPAL COURT, POLICE DEPARTMENT, AND OTHER MUNICIPAL OFFICES,
AND DECLARING AN EMERGENCY.
THE PEOPLE OF THE CITY OF WOODBURN DO ORDAIN:
Section 1. That Whereas, the legal voters of the City of
t~Tr~odburn at the special municipal election held on October 30, 1975,
i~? the City of Woodburn, duly and regularly passed and adopted an
amendment to the Charter of the City of Woodburn whereby the Common
Council of said City was authorized to issue general obligation serial
coupon bonds of said City in the principal sum of X740,000.00 for the
purpose of constructing and equipping a municipal building to house
the administration offices, Municipal Court, Police Department, and
other City offices as are determined by the Common Council to be neces-
sary, advisable or convenient to provide for the proper administration
of the City of Woodburn, and to do all things necessary, expedient or
incidental to such construction and acquisition; which said Charter
amendment is known and designated as Section 29 of Chapter X of the Charter
of the City of Woodburn,
NOW, THEREFORE, an issue of serial coupon bonds in the sum
of X740,000.00 far the purposes hereinbefore mentioned is hereby authorized.
The bonds shall be numbered from 1 to 148 inclusive and shall be in de-
nominations of $S,OOO.Oq each.
The bonds shall be dated January 1, 1976, and shall be payable
in lawful money of the United States of America and shall bear interest
page 1 - COUNCIL BILL NO. 246
ORDINANCE N0. 1494
at the rate designated in the proposal accepted therefor, not exceeding
1~Oper cent per annum, which interest shall be payable on the first day
of July, 1976, on the first coupon, and thereafter on the first day of
Js,nuary and the first day of July of each year subsequent to the date
of issue unless sooner redeemed as hereinafter specified. Principal
and interest shall be payable at the office of the City Treasurer of
the City of Woodburn,
Any or all bonds of this issue maturing after the first day
of January, x.984, may be redeemed in inverse numerical order by the
City of Woodburn at par value and accrued interest on January 1, 1984
and on any interest paying date thereafter, upon notice given at least
30 days prior to the redemption date therein specified by publication
of such notice in one issue of a newspaper printed and published in
Marion County, Oregon. From the date of redemption designated in
such notice, interest upon the bonds so called for payment shall cease.
Beginning with the first day of January, 1977, said bonds shall
mature in the order of their serial numbers at the rate and on the date
and year specified as follows:
$30,000.00
$30,000.00
$30,000.00
$35,000.00
$40,000.00
$40,000.00
$45,000.00
$45,000.00
$50,000.00
$55,000.00
$60,000.00
$60,000.00
$65,000.00
$70,000.00
$75,000.00
on
on
on
on
on
on
on
on
on
on
on
on
on
on
on
January
January
January
January
January
January
January
January
January
January
January
January
January
January
January
1, 1977
1, 1978
1, 1979
1, 1980
1, 1981
1, 1982
1, 1983
1, 1984
1, 1985
1, 1986
1, 1987
1, 1988
1, 1989
1, 1990
1, 1991
Page 2 - COUNCIL BILL NO. 24~
ORDINANCE NO. 1494
Section 2, Each of said bonds shall be signed by the Mayor
of the City of Woodburn, Oregon, and attested by the Recorder of said
City.
The coupons, however, may have printed or lithographed there-
on a facsimile signature of the said Mayor and Recorder.
Section 3. That the City Recorder is authorized and directed
to advertise the bonds for sale by publishing notice of said sale in the
Woodburn Independent, a newspaper published in Marion County, Oregon,
for two successive weeks as provided by law, the sale to be held on
November 25, 1975, at an adjourned regular meeting of the Common Council
on said date, with specification in the notice of sale that the City
reserves the right to reject any or all bids.
Section 4. The bonds hereby authorized shall be in sub-
stantially the following form, to-wit:
UNITED STATES OF AMERICA
STATE OF OREGON, COUNTY OF MARION
CITY OF WOODBURN, OREGON
T9~5 MUNICIPAL BUILDING BOND,
No.
$5,000.00
KNOW ALL MEN BY THESE PRESENTS that the City of woodburn,
a municipal corporation, Marion County, Oregon, for the value received,
hereby promises and agrees to pay to the bearer the sum of
.. _ _ _ _ .. _ _ _ -FIVE THOUSAND AND NO/ 10 0 DOLLARS - - - - - - -
Page 3 -- CQUNCIL BILL N0. 246
ORDINANCE N0. 1494
in lawful money of the United States of America on the presentation and
surrender of this bond on the day of
19 ,
with interest thereon at the rate of __.~____ per cent per annum, payable
semi-annually in like lawful money on the first day of July and of
January of each year upon presentation and surrender of the proper
coupons hereunto annexed; both Principal and interest payable at the
office of the City Treasurer of the City of Woodburn, Oregon.
Any or all bonds of the issue of which this is a part maturing
after January 1, 19~8~4~ , are subject to call and redemption in inverse
numerical order at par value and accrued interest ors January 1, 1984,
or on any interest paying date thereafter upon notice given ~t least
thirty days prior to the redemption date therein specified by publication
of such notice in one issue of a newspaper printed and published in
Marion County, Oregon. From the date of redemption designated in such
notice, interest upon the bonds so called for payment sha11 cease.
mhis bond is ane of a series of bonds in the total sum of
SEVEN HUNDRED FORTY THOUSAND AND NO/100 DOLLARS ($744,400.00) as
authorised by and under the provisions of Section 29 of Chapter X of
the Charter of said City as the Charter has been amended for the purpose
of constructing and equipping a municipal building to house the
administration offices, Municipal Court, Police Department, and other
City offices as are determined by the Common Council to be necessary,
advisable or convenient to provide for the proper administration of
the City of Woodburn, and to do all things necessary, expedient or
incidental to such construction and acquisition, in the City of Wood-
burn, Oregon.
Page 4 - COUNCIL BILL NO, 246
oRDINANC~ rra , 14 9 4
It is hereby certified, recited and warranted that the C~,ty
of woodburn is a municipal corporation, duly organized, existing and
operating as a city under and by virtue of the laws of the State of
Oregon. It is further certified, recited and warranted that all things,
acts and conditions required by the Constitution and Laws of the State
of Oregon and the Charter and Ordinances of the City of woodburn pre-
cedent to an issue of this bond in order to constitute the same the valid
and binding obligation of said City have been done and performed in
regular and due form and time; that the total indebtedness of said
City, including this bond does not exceed any constitutional, statutory
or charter limitation and that due provisions have been made for the
levying, assessment and collection of a direct annual ad valorem tax
on all of the taxable property of said City in addition to all other
taxes, sufficient to create a fund to pay the interest accruing to this
bond when and as the same become due and to establish a sinking fund
with which to discharge the prinicipal thereof at maturity.
For the fulfillment of the conditions of this obligation,
the full faith and credit of the City of woodburn are hereby irrevocably
pledged.
IN WITNESS WHEREOF, this bond has been signed by the Mayor
and countersigned by the Recorder of the City of '~oodburn, Oregon,
and the corporate seal of said City hereto affixed this first day of
January, 1916.
RALPH E. DICKERING, Mayor
ATTEST:
BARNEY BURRI , ity Recor er
Page 5 - COUNCIL BILL N0. 2~6
ORDINANCE N0. 1494
CnUPON
ado .
CITY OF WOgDBURN, STATE OF gREGON
will pay to the bearer on the day of
_~___._.
, 19 ,
_____
in legal tender of the United States of America at the office of the
City Treasurer of the City of Woodburn, Oregon
DoLLARs
being six months' interest on 1976 Municipal Building Bond No.
being dated January 3, 1976.
RALPR E. DICKERING, Mayor
ATTEST:
BARNEY 0, BURRIS, City Recorder
and all coupons maturing after January 1, 1984,,, shall bear also the
following phrase, "unless sooner redeemed as therein provided."
Section 5. The Common Council of the City of Woodburn shall
annually budget an amount sufficient to pay the interest accruing
upon all outstanding bonds and to redeem such bonds at their maturity
and shall levy a tax annually to the extent other funds are not avail-
able to cover such amount,
Section 6. WHEREAS, it is necessary for the immediate preser-
vation of the public health, peace and safety of the City of Woodburn,
and the inhabitants thereof, that this Ordinance take effect immediately,
therefore an emergency is hereby declared to exist and this Ordinance
shall be in full force and effect from and after its passage by the
Page 6 - COUNCIL BILL N0. 246
ORDINANCE N0, 1494
Council and approval by the Mayor.
Passed by the Council
Submitted to the Mayor
Approved by the mayor
Filed in the Office of the Recorder
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ATTF5TElJ : z.: ;d;~ ~ , ~~
$ RNFY 0. $URR15, R~cor er
City of Woodburn, Oregon
APPROV"$n
~. PICKERINC, ayor
November 3, 1975
November 3, 1975
November 3, 19:75
November 3, 1975
Page 7 - COUNCIL $ILL N0. 24~
QRDINANCE NO. 1494
I, BARNEY 0. BURRIS, Recorder of th~~~ City of Woodburn, do
hereby certify that I posted three copies of Ordinance No.
1494, 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 the day of
November 19 75.
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... ''~ ^ 1 1/' J~
BARNEY 0. URRI RECORDER
City of Woodburn, Oregon