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09/1/1959 - Go Bond Minutes WHEREAS, said election was duly and regularly held on September 9, 1959, and thereafter and upon the closing of the polling place, the Commissioners for the District did count and canvass the vote of the electors; that a majority of the votes cast at said election were in favor of authorizing the District to borrow said sum and to issue general obligation bonds therefor; that the said Coznmisi Toners did thereafter certify that the TIGARD WATER DISTRICT was authorized by the electors to borrow $160, 000.00, and issue and sell general obligation bonds in said amount, the proceeds to be used for the purpose of constructing two water reservoirs and for the further purpose of extending, enlarging and improving the water system of the District; and WHEREAS, it is the considered opinion of the Board. of Commissioners of the TIGARD WATER DISTRICT to issue, offer and sell in the manner provided by law $160,800.00 in general obligation bonds each bond in the denomination of $1, 000. 00, and such bonds to mature as follows, to-wit: 1960 $4, 000.00 1961 $5, 000. 00 1962 $5, 000.00 1963 $6, 000.00 1964 $6, 000.00 1965 $7, 000.00 1966 $7, 000. 00 1967 $7, 000. 00 1968 $8, 000.0© 1969 $8, 000,00 1970 $8, 000.00 1971 $9, 000. 00 1972 $9, 000.00 1973 $9, 000. 00 1974 $9. 000.00 1975 $10, 000.00 1976 $10, 000. 00 1977 $10, 000. 00 1978 $11, 000.00 1979 $12, 000. 00 That the maturity dates shall begin Oct- ober 1, 1960, and annually thereafter to PAGE II and including October 1, 1979, with the provision that such bonds of this series that are outstanding on October 1, 1974, may be called, redeemed and paid at par in the discretion of the Board of Commissioners of the TIGARD WATER DISTRICT, and upon the giving of notice of call by publication thereof in a newspaper of general circulation printed and published in Washington County, Oregon, at least thirty days prior to the date thereof; and WHEREAS, said bonds to be issued and sold, as herein provided, shall be serially numbered B-1 to and including B-160; and WHEREAS, The United States National Bank of Portland (Oregon) is a proper place for the payment of bond interest and principal; and WHEREAS, the Tigard Times is a newspaper of general circulation in Washington County, Oregon, published within the boundaries of the TIGARD WATER DISTRICT and the Hills- boro Argus is a newspaper of general cir- culation in Washington County, Oregon, and that publication of notice of sale of such bonds in each of said newspapers in the manner and for the time provided by law will constitute proper notice of sale; and WHEREAS, all bids for such bonds shaU be in writing, and unless the sale is made to the State of Oregon, shall be accompanied by certified check on a bank doing business in the State of Oregon for not less than 2 per cent of the par value of the bonds offered for sale; and WHEREAS, all bids for such bonds shall be opened at a time and place specified by the Board of Commissioners for the District, which time and place shall be stated in the notice for sale, and the bonds shall be sold to the highest responsible bidder for not less than 98 per cent of their par value and the entire amount of accrued interest. The bonds, as sold, shall bear inter,.et at a rate not exceeding 5 per cent per annum, payable semi-annually. NOW , THEREFORE, BE IT RESOLVED PAGE III by the Board of Commissioners of the TIGARD WATER DISTRICT as follows: 1. That the TIGARD WATER DISTRICT, upon authorization of its electors does herewith and hereby direct the issuance of one hundred sixty (160) general obligation bonds, each serially numbered B-1 to and including B-160, and each of said bonds to be in the principal amount of $1, 000. 00; that each of said bonds and their respective maturity dates hall be as follows: Serial Number Maturity Date 13-1 October 1, 1960 8-2 October 1, 1960 B-3 October 1, 1960 8-4 October 1, 1960 D-5 October 1, 1961 8-6 October 1, 1961 8-7 October 1, 1961 13-8 October 1, 1961 B-9 October 1, 1961 B-ID October 1, 1962 B-11 October 1, 1962 8. 12 October 1, 1962 B-13 October 1, 1962 B-id October 1, 1962 8-15 October 1, 1963 -16 October 1, 1963 -17 October 1, 1963 8-18 October 1, 1963 8-19 October 1, 1963 B-20 October 1, 1963 13-21 October 1, 1964 B-22 October 1, 1964 B-23 October 1, 1964 8-24 October 1, 1964 13-25 October 1, 1964 8-26 October 1, 1964 8-27 October 1, 1965 B October 1, 1965 8-29 October 1, 1965 8-30 October 1, 1965 8-31 October 1, 1965 B-32 October 1, 1965 8-33 October 1, 1965 8-34 October 1, 1966 B-35 October 1, 1966 8.36 October 1, 1966 8-37 October 1, 1966 PAGE IV Serial Number Maturity Date 13-38 October 1, 1966 13-39 October 1, 1966 .. B-40 October 1, 1966 13-41 October 1, 1967 B-42 October 1, 1967 B-43 October 1, 1967 B-44 October 1, 1967 13-45 October 1, 1967 13-46 October 1, 1967 13-47 October 1, 1967 B-4.8 October 1, 1968 13-49 October 1, 1968 13-50 October 1, 1968 13-51 October 1, 1968 8-52 October 1, 1968 B-53 October 1, 1968 13-54 October 1, 1968 B-55 October 1, 1968 13-56 October 1, 1969 13-57 October 1, 1969 13-58 October 1, 1969 13-59 October 1, 1969 13-60 October 1, 1969 13-61 October 1, 1969 13-62 October 1, 1969 33-63 October 1, 1969 13-64 October 1, 1970 13-65 October 1, 1970 B-66 October 1, 1970 11-67 October 1, 1970 B-68 October 1, 1970 13-69 October 1, 1970 13-70 October 1, 1970 13-71 October 1, 1970 B-72 October 1, 1971 13-73 October 1, 1971 13-74 October 1, 1971 B-75 October 1, 1971 13-76 October 1, 1971 B-77 October 1, 1971 13-78 October 1, 1971 15-79 October 1, 1,971 13-80 October 1, 1971 13-31 October 1, 1972 B-82 October 1, 1972 13-83 October 1, 1972 13-84 October 1, 1972 13-85 October 1, 1972 13-86 October 1, 1972 13-87 October 1, 1972 B-88 October 1, 1972 B-89 October 1, 1972 13-90 October 1, 1973 PAGE V Serial Number Maturity Date 13-91 October 1, 1973 B-92 October 1, 1973 13-93 October 1, 1973 B-94 October 1, 1973 13-95 October 1, 1973 13-96 October 1, 1973 13-97 October 1, 1973 13-98 October 1, 1973 13-99 October 1, 1974 13-100 October L 1974 B-10I October 1, 1974 B-102 October 1, 1974 13-103 October 1, 1974 13-104 October 1, 1974 13-105 October 1, 1974 13-106 October 1, 1974 13-107 October 1, 1974 B-108 October 1, 1975 1:3-109 October 1, 1975 13-110 October 1, 1975 B-lll October L 1975 13-112 October 1, 1975 B-113 October 1, 1975 13-114 October 1, 1975 B-115 October 1, 1975 B-116 October 1, 1975 B-117 October 1, 1975 13-118 October 1, 1976 13-119 October 1, 1976 13-120 October 1, 1976 B-121 October 1, 1976 13-112 October 1, 1976 B-123 October 1, .1976 13-124 October 1, 1976 13-125 October .l, 1976 13-12 6 October 1, 1976 13-127 October 1, 1976 B-128 October 1, 1977 B-129 October 1, 1977 13-130 October 1, 1977 13-131 October 1, 1977 B-132 October 1, 1977 B-133 October 1, .1977 13-134 October 1, 1977 13-135 October 1, 1977 13-136 October 1, 1977 B-137 October .1, 1977 H-138 October 1, .1978 13-139 October L 1978 B-14() October 1, 1978 B-141 October 1, 1978 13-142 October 1, 1978 PAGE VI Serial Number Maturity Date 13-143 October 1, 1978 B-144 October 1, 1978 B-145 October 1, 1978 13-146 October 1, 1978 13-147 October 1, 1978 B-148 October 1, 1978 B-149 October 1, 1979 B-150 October 1, 1979 13-151 October 1, 1979 B-15Z October 1, 1979 13-153 October 1, 1979 13-154 October I, 1979 13-155 October 1, 1979 13-156 October 1, 1979 33-157 October 1, 1979 B-158 October 1, 1979 B-159 October 1, 1979 13-160 October 1, 1979 That said bonds serially numbered 13-108 to and including 13-160 shall provide therein that the same may be redeemed at any interest paying date specified by the Board of Commissioners of the TIGARD WATER DISTRICT on or after October 1, 1975, at par, upon giving notice of call to the holders thereof by publication of such notice bf call in a newspaper of general circulation printed and published in Washington County, Oregon, more than thirty days prior to the con- templated redemption date. Z. That the said bonds shall bear interest from and after October 1, 1959, until maturity or call, and the payment thereof, as hereinafter provided, at a rate not exceeding Five per cent (5%) per annum; that interest shall be paid semi- annually on the 1st day of April and the 1st day of October, beginning April 1, 1960, and on each bond until the same has been matured or called and paid; that proper interest coupons shall be affixed to each bond, which said coupon shall be payable to bearer for the amount of interest on each of such bonds for each payment date. 3. That The United States National Bank of Portland (Oregon) be and the same is herewith designated the place for the payment of bond in- terest and principal upon the bonds herein authoriz-d, that the payment by this District to said bank of the principal of any bond of this PAGE VII series at its due date or maturity by call, to- gether with interest thereon to such date shall be considered for all legal intents and purposes as payment of such bond and the full discharge of the obligation of this District as represented thereby; that the chairman and secretary of this District are hereby authorized and directed to make such agreements and to execute such con- tracts, in the name of this District, with said bank so as to comply with the provisions of this resolution. 4. That the said general obligation bonds, as herein authorized, shall be forthwith ad- vertised for sale by publication of notice of sale: (a) in the Tigard Times, a newspaper of general circulation printed and piielished at Tigard within the corporate limits of the TIGARD WATER DISTRICT, Washington County: Oregon; and (b) in the Hillsboro Argus, a newspaper of general circulation printed and published at Hillsboro, Washington County, Oregon; that the publications herein authorized shall be for the time and in the manner provided by law; that such notice of sale shall adequately describe the bonds hereby and herein authorized and the respective maturity dates thereof, the maximum interest rate, the agreement of this District to give a proper opinion as to the validity of said bonds as general obligations of the TIGARD WATER DISTRICT, the requirement that aU bids for such bonds shall be in writing and, unless the sale is to the State of Oregon, that the bids '.hall be accompanied by a certified check on a bank doing business in the State of Oregon, for not less than 2 per cent of the par value of the bonds offered for sale; that the bonds shall not be sold for less than 98 per cent of their par value and the entire amount of accrued interest, and the final provision that all bide as presented may be rejected if not satisfactory to the Board of Commissioners of the TIGAR.D WATER DISTRICT. 5. That upon the sale of such bonds, as herewith authorized, the secretary shall thereupon have bond forms prepared and printed in the foim hereinafter set out to which said bonds the seal of this District shall be affixed, and thereupon such bonds shall be signed by the chairman of this board, attested by the secretary and counter- signed by the treasurer; that the secretary PAGE VIII shall have prepared and printed in the form as hereinafter set forth interest coupons which shall bear the facsimile signatures of said officers; that said bonds and coupons shall all bear the date of October 1, 1959, and proper interest coupons shall be annexed to each bond authorized and sold as herein provided. 6. That said bonds shall be in the following korm: Number B- Number B- STATE OF OREGON COUNTY OF 'WASHINGTON TIGARD WATER DISTRICT $1, 000. 00 $1, 000. 00 BOND TIGARD WATER DISTRICT, County of Washington State of Oregon, for value received, hereby promises to pay to bearer One Thousand ($1, 000. 00) Dollars, on the 1st day of October, 19 , with interest thereon at the rate of ( el.) per cent per annum, payable semi-annually on the 1st days of April and October, to the bearer of the respective coupons therefor hereto attached, upon presentation, as they mature, both principal and interest, payable in lawful money of the United States of America, at the United States National Bank of Portland (Oregon). This bond is one of a series of like date and tenor, except as to maturities, aggregating $160, 000. 00, par value in amount, numbered B-1 to B-160, both inclusive, authorized by the electors of the TIGARD WATER DISTRICT, at a special election duly and regularly had on neptember 9, 1959. It is hereby certified that every requirement of law relating to the issue therefor has been duly complidd with and this bond is within every date and other limit prescribed by the Constitution and the laws of the State of Oregon. For the punctual payment of principal and PAGE IX interest hereon, the full faith and credit of the TIGARD WATER DISTRICT is hereby irrevocably pledged. All bonds of this series numbered B-108 to B-160 may be called, redeemed and paid at par at any interest payment date beginning October 1, 1975, upon the giving of notice of call by the Board of Commissioners of TIGARD WATER DISTRICT, by publication thereof in a newspaper of general circulation printed and published in Washington County, State of Oregon, at least thirty days (30) prior to the date hereof. That the payment by the TIGARD WATER DISTRICT to The United States National Bank of Portland (Oregon), of the principal of any bond of this series at its due date or maturity by call, to- gether with interest thereon to such date shall be considered for all legal intents and purposes as payment hereof and in full discharge of the obligation of the TIGARD WATER DISTRICT a . represented herein. IN WITNESS WHEREOF, TIGARD WATER DISTRICT, has caused these presents to be signed by its President, its seal hereunto affixed, attested to by its secretary and counter- signed by its treasurer, this day of October, 1959. President ATTESTED BY: Secretary COUNTERSIGNED: Treasurer 7. That the coupons to be affixed to said bonds numbered B-1 to and including B-107 shall be in the following form: Bond No. Coupon No. TIGARD WATER DxrRIcT, Washington County, PAGE Oregon, will pay to bearer in lawful money of the United States of America, at the United States National Bank of Portland (Oregon) in the City of Portland, Oregon Dollars, for six months' interest then due upon its per cent general obligation bond No. B- , dated October 1, 1959. TIGARD WATER DISTRICT Pre sident ATT::F;S=TED BY: Secretary COUNTERSIGNED: Treasurer 8, That the coupons to he affixed to said bonds numbered B-108 to and including B-160 shall be in the following form: Bond No. B- Coupon No. TIGARD WATER DISTRICT, V/,-..shington County; Oregon, will pay to bearer in lawful money of the United States of America, at the United States National Bank of Portland (Oregon), in the City of Portland, Oregon dollars for six months' interest then due upon its per cent general obligation bond number B- dated October 1, 19a9, tmless said bond is sooner paid and redeemed TIGARD 1.':ATER DISTRICT By President ATTESTED BY: Secretary COUNTERSIGNED: Treasurer PAGE XI That said resolution. was unanimously adopted by the Board of Commissioner E of the TIGARD WATER DISTRICT. There being no further busine es to come before the meeting, the same was; on motion, duly and regularly adjourned. Secretary ATTEST: President