Ordinance No. 63-17 f{
CITY OF TIGIZ-D, O_'1�^ON
ORDINANCE No. 63 - A
AN ORDINANCE AmTDING ORDINANCE No. 63-13, WITH 23SPECT TO
THE I&SUANCE AND SALE OF SE:lEI: BONDS OF TI'S CITY OF TIGARD IN TIS
AMOUNT OF $150,OOO.00 AND DECLAPING AN EME'?G21M. _
WHEREAS, Ordinance No. 63-13, duly adopted by the City
Council of the City of Tigard, Oregon, on the 14th day of October,
^t-
pr"ovi"•-
es dfor the issuance and sale of $150,000.00 sewer
lJv+f
bonds of the city, and prescribed procedures with respect to the
giving of notice of sale of said bonds, and other matters inci-
dent thereto; and
IM17.�.AS, Section 6 of said Ordinance No. 63-13 prescribing
the form of notice of bond sale and Section 7 of said ordinance
providing for the form of the bonds to be thus issued and the
reto, included provision for the optional.
coupons to be attached the
redemption in numerical order of all bonds of the series payable
after December 1,1971, upon call by the City on December 1, 1971,
or on any interest payment date thereafter; ann
,THEME S, pursuant to Ordinance No. 63-13 offers were in
vited for the sale of said bonds, notice of call for said bids con-
formed to the provisions of said Ordinance No. 63-13 except that
the optional redemption. provision above mentioned was omitted there
and
IMMAS, all offers responding to the said invitation for
bids were in conformity with the invitation for bids as publicized -
not in contemplation of any right on the wart of the City of Tigard
ing after December 1, 1971, and by
to call and redeem bonds matur
action of the City Council of the City of Tigard at a regular meet
wo,o.,f on November 1963, the bide• of the United States
?National Bank of Portland, Oregon, Tigard Branch, ofOering to Pur-
chase the entire issue of $150,000 bonds to be dated December 1,
r page l ORDINANCE No. 63- 7
1963, at a price of $100 for each $100 fact,value, together with
interest to date of delivery with a net interest cost of $43,677.50
and an effective interest rate of 3.3963 per cent, was confirmed
as the best bid received and was duly accepted, and said acceptance
was duly communicated in writing to the United states National
a Bra
Bank of Portland, Oregon, fig .__nch, and the sale of the bonds
to said bank was in all respects approved for and on behalf of the
city g of Tigard;
NOW, THERMTO-Z,
THE CITY OF TIGARD ORDAINS AS FOLLOt"S:
Section 1: That Ordinance No. 63-13 duly passed by the City noun-
c".1 on the 14th day of October, 19631 and all provi-
Bions thereof be, and the same hereby are, incorporated herein by
reference in all respects to the same legal force and effect as if
set forth herein in full except that there is hereby revoked, re-
pealed and held for naught those portions thereof described as
follows:
In Section 6: "The city of Tigard, Oregon, reserves the
right to call and redeem any and ail of such bonds matur-
ing after December 1, 1971, in numerical order on any
interest due date on or after December 1, 1971, upoic
tender of payment of principal and accrued interest to
date of payment.
In Section 7, that portion of the form
of adteraas
Decem-
ber
"All bonds of this series payable
_. 1, 1971, shall be subject to redemption in numerical
order on any interest payment date on or after December 1,
1971, upon the giving of notice of call for redemption by
publication thereof in a newspaper of general circulation,
printed and Published in washington County, State of ure-
eon. not less than thirty (30) days prior,.ao,o�P.m�innte oto
redemption, and, effective with CxiG ua �� . � _---z--___
be publicized, interest shall cease to accrue."
In Section 7, the final Provision thereof prescribing the
form of coupon to be attached to all bonds matu:.ino; after
December 1, 1971.
$150
of
sue
Section 2 sale of t'
generale obligati nrseWerYesaid bonds, series0ofs1963, to
t . the United States National Bank of PcrLiand, Gragon, Tigard oBranch,
.. to be dated December 1, 1963, at a purchase price of $100
K $100, ace value together with accrued interest to date of delivery
with a net interest cost of $43,677.50 and an ef, ctive interest
6"
�- Page 2 r ORDINANCE No. 63-f7
i
rate of 3.3963 per cent and otherwise in conformity with the bid
of said hank, a copy thereof being hereto attached and by refer-
once made a part hereof as7g rth in the minutes of the regular
isehereby, aof pproved,Cratifiedfandvember conVirmed in6allbrespects.and same
Section 3: It is Hereby declared and adjudged that existing con-
ditions are such that the immediate enactment of this
ordinance is necessary for the preservation of the peace, health
s and safety of the city of Tigard, Oregon, to avoid serious dis-
ruption of sewer service within said City, and it is hereby declared
that an emergency exists and that this ordinance shall become
;l effective immediately upon_ its passage by the Council and its
approval by the Mayor.
B
yust�u4vote of all Council members presex:t,
PASSED after b;3n g first read in full and than by title
f this ff'ZGI Gay UL LcCcm'vcr-
Ardfr&- C ty Tiga�rc���V�
}
3�Jfl APPROVED: By the Mayor, this day of December, 1963.
�C t., of and Ti
� irta.yor i g
n;
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1
3
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