Ord 1460COUNCIL BILL N0. 192
ORDINANCE N0. 1460
AN ORDINANCE RELATING TO THE ISSUANCE OF AND SALE OF BONDS FOR
THE IMPROVEMENT OF THE FIRE PROTECTION SYSTEM OF THE CITY OF
WOODBURN, AND DECLARING AN EMERGENCY.
THE PEOPLE OF THE CITY OF WOODBURN DO ORDAIN:
Section 1. That Whereas, the legal voters of the City of
Woadburn at the special municipal election held on December 5,
1974, in the City of Woodburn, duly and regularly passed and
adopted an amendment to the Charter of the City of Woodburn where-
by the Common Council of said City was authorized to issue general
obligation serial coupon bonds of said City in the principal sum
of $750,000.00 for the purpose of acquiring two pieces of mobile
fire equipment, and constructing two fire station buildings as
improvements to the City fire protection system as are determined
by the Common Council to be necessary, advisable or convenient to
the proper fire protection of the City of Woodburn, and to acquire
therefor and thereto necessary and suitable real property and rights-
of-way within and without the city limits of the City of Woodburn,
and to do all things necessary, expedient or incidental thereto and
authorizing the levy of a tax to pay the principal and interest
thereon, which said Charter amendment is known and designated as
Section 27 of Chapter X of the Charter of the City of Woodburn.
NOW, THEREFORE, an issue of serial coupon bonds in the sum
of $750,000.00 for the purposes hereinbefore mentioned is hereby
authorized. The bonds shall be numbered from 1 to 150 inclusive
and shall be in denominations of $5,000.00 each.
Page 1. - Council Bill No. 192
Ordinance No. 1460
The bonds shall be dated April 1, 1975, and shall be pay-
able in lawful money of the United States of America and shall
bear interest at the rate designated in the proposal accepted
therefor, not exceeding 7 per cent per annum, which interest shall
be payable on the first day of October, 1975, on the first coupon,
and thereafter on the first day of April and the first day of
October 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 April, 1985, may be redeemed by the City of Woodburn at par value
and accrued interest on April 1, 1985, and on any interest paying
date thereafter, upon notice given at 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 shall cease.
Beginning with the first day of April, 1976, said bonds shall
mature in the order of their serial numbers at the rate and on the
date and year specified as follows:
$20,000,00
25,000.00
30,000.00
30,000.00
35,000.00
35,000.00
35,000.00
35,000.00
35,000.00
40,000.00
40,000.00
40,000.00
on
on
on
on
on
on
on
on
on
on
on
on
April
April
April
April
April
April
April
April
April
April
April
April
1, 1976
1, 1977
1, 1978
1, 1979
1, 1980
1, 1981
1, 1982
1, 1983
1, 1984
1, 1985
1, 1986
1, 1987
Page 2. - Council Bi11 No. 192
Ordinance No. 146 0
$40,000.00 on April 1, 1988
40,000.00 on April 1, 1989
45,000.00 on April 1, 1990
45,000.00 on April 1, 1991
45,000.00 on April 1, 1992
45,000.00 on April 1, 1993
45,000.00 on April 1, 1994
45,000.00 on April 1, 1995
Section 2. Each of said
of the City of Woodburn, Oregon,
said City.
The coupons, however, may
thereon a facsimile signature of
Section 3. That the City
bonds shall be signed by the Mayor
and attested by the Recorder of
have printed or lithographed
the said Mayor and Recorder.
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 March 25, 1975, at an adjourned regular meeting of the Com-
mon 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 substan-
tially the following form, to-wit:
U N IT ED STATES O F AM ER ICA
S T A T E OF ORE GON, C O U N TY OF MAR I O N
C I TY OF WOODB U R N, O REG ON
1975F I RE 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 re-
ceived, hereby promises and agrees to pay to the bearer the sum of
- - - - - - - - - - - FIVE THOUSAND AND NO/100 DOLLARS - - - - - - - -
in lawful money of the United States of America on the presentation and
Page 3. - Council Bill No. 192
(~rriinanr.P Nn_ 146
surrender of this bond on the day of 197 ,
with interest thereon at the rate of per cent per annum, pay-
able semi-annually in like lawful money on the first day of April
and of October of each year upon presentation and surrender of the
proper coupons hereunto annexed; both principal and interest pay-
able at the office of the City Treasurer of the City of Woodburn,
Oregon .
Any or all bonds of the issue of which this is apart ma-
turfing after April 1, 1985, are subject to call and redemption in
numerical order at par value and accrued interest on April 1, 1985,
or on any interest paying date thereafter upon notice given at least
thirty days prior to the redemption date therein specified by pub-
lication of such notice in one issue of a newspaper printed and pub-
lished in Marion County, Oregon. From the date of redemption desig-
noted in such notice, interest upon the bonds so called for payment
shall cease.
This bond is one of a series of bonds in the total sum of
SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($750,000.00} as
authorized by and under the provisions of Section 27 of Chapter X
of the Charter of said City as the Charter has been amended for
the purpose of improving the fire protection system and doing all
things necessary thereto, in the City of Woodburn, Oregon.
It is hereby certified, recited and warranted that the City
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
Page 4. - Council Bill No, 192
(1rr3 i n a n ~.P Nn . 146(1
of the State of Oregon and the Charter and Ordinances of the City
of Woodburn precedent to an issue of this bond in order to con-
stitute 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 ex-
ceed 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 tax-
able property of said City in addition to all other taxes, suffi-
cient 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 principal thereof at maturity.
For the fulfillment of the conditions of this obligation,
the full faith and credit of the City of Woodburn are hereby irre-
vocably pledged.
IN WITNESS WHEREOF, this bond has been signed by the Mayor
and countersigned by the Recorder of the City of Woodburn, Oregon,
and the corporate seal of said City hereto affixed this first day of
April, 1975.
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R H E. PICKERI MAYOR
ATTEST:
BARNEY 0. BURRIS, CITY RECORDER
COUPON
No.
CITY OF WOODBURN, STATE OF OREGON
Page 5. - Council Bill No. 192
Ordinance No. 1460_
Will pay to the bearer on the day of , 197 ,
____-
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 1975 Fire Bond No. being dated
April 1, 1975.
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~~~A~ H E. ICKERI MAYOR
ATTEST:
BARNEY 0. BURRIS, CITY RECORDER
and all coupons maturing after April 1, 1985, 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 ma-
turity and shall levy a tax annually to the extent other funds are
not available to cover such amount.
Section 6. WHEREAS, it is necessary for the immediate pres-
ervation of the public health, peace and safety of the City of Wood-
burn, 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 Council and approval by the Mayor.
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APPROVED : :~~.. ~~%.-- ~~=.'~ , ~.~~°,~;,~~ ~ ,
R L E. PYCKERING,~: AYOR
Page 6. - Council Bill No. 192
Ordinance No, 1460
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
c.
ATTESTED : `~,` i f`~~._ t...~.~'
B R EY 0 BURRIS, Recorder
City of Woodburn, Oregon
February 10, 1975
Februarv 10. 1975
February 10, 1975
Page 7. - Council Bill No. 192
Ordinance No, 1460
I, BARNEY 0. BURRIS, Recorder of the City of Woodburn,
do hereby certify that I caused to be posted three copies of
Ordinance No.1460, 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 February, 1975.
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Barney 0. urris, Recorder
City of Woodburn, Oregon