Ordinance No. 72-01 CITY OF TIGARD, OREGON
ORDINANCE No.72-_L__
AN ORDINANCE AUTHORIZING AND DIRECTING TRANSFER TO THE GENERAL
FUAID OF THE CITY OF TIGARD OF BALANCE REMAINING FROM SEWER ASSESSMENTS
IMPOSED IN CONNECTION WITH VARIOUS SEWER ASSESSMENT DISTRICTS COLLECT.
IVELX TERMED "BANCROFT #2 ACCOUNT", PRESCRIBING EFFECTIVE DATE AND
? DECLARING AN
THE CITY OF TIGARD ORDAINS AS FOLLOWS:
Section 1: The City Council finds that all sewer assessment Bancroft
bonds issued in connection with certain sewer improvement
districts and termed "Bancroft #2 Account", have been fully paid, sat-
isfied and discharged, except with respect -L , Coulon#5 falling due on
May 1, 1964 on Bond No. 5, which has not been heretofore presented
for payment.
S_eati_ _o_n:'2. The Council further finds that there is a balance on hand
and reserved for payment of said coupon which fell due on
May 1, 1964 in the sum of $17.50 and that more than six years have
passed since said due date, and said coupo�i has not been presented,
and that said balance of $17.50 together with any further balance in
said account should be transferred to the General fund of the City as
hereinafter stated.
Section 3: The City Recorder be, and she is hereby, authorized and
directed pursuant to §294.475 ORS to transfer all funds
remaining in "Bani:roft #2 Account" to the general fund of the City
forthwith and to close the said Bancroft #2 account in all respects.
Section 4: Inasmuch as it is necessary for the peace, health and,
safety of the people of the City of Tigard that the
accounting procedures of.the City be kept and maintained in current
condition at all times and that all matters be timely concluded, an
dinance shall become
emergency is hereby declared to exist and this or
effective upon its passage by the Council and approval by the Mayor.
PASSED: By unanimous vote of all Council members present, after
being read three times by number and title only,
this 10th day of January, 1972.
Retarder C+ty o igard
APPROVED. By the Mayor, this loth. day of January, 1972•
Mayor City of Tigand
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