Ordinance No. 75-25 3
CITY OF TIGARD, OREGON
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ORDINANCE NO. 75 - i
AN ORDINANCE AMENDING SECTION 3 OF ORDINANCE NO. 75-14 WITH RE-
SPECT TO THE SALE OF $15,967.76 OF GENERAL OBLIGATION IMPROVE-
MENT BONDS OF THE CITY FOR THE S. W. MURDOCK STREET IMPROVEMENT
DISTRICT, RATIFYING AND CONFIRMING THE NOTICE OF SALE OF SAID
BONDS AS SET FORTH IN SECTION 6 OF SAID ORDINANCE, AND RATIFYING
AND CONFIRMING ALL PROCEEDINGS CONDUCTED BY THE CITY WITH RESPECT
TO THE SALE THEREOF TO THE UNITED STATES NATIONAL BANK OF OREGON;
FIXING AN EFFECTIVE uATE AND .DECLARI:G AN EMERGE-1 Y.
THE CITY OF TIGARD ORDAINS AS FOLLOWS:
Section 1: That Section 3 of Ordinance No. 75-14 with respect to
the sale of general obligation improvement bonds of
the City in the face value of $15,967.76 for the S. W. Murdock
Street Improvement District be and the same is hereby amended
to read as follows:
"Section 3: All bonds shall be sold for not less
than ninety-eight per cent. (98%) of the
par value, plus accrued interest from date thereof
to date of delivery. All such bonds shall be signed
by the Mayor and countersigned by the Recorder of the
City of Tigard. Zae coupons attached 'thereto shall
bear the facsimile signatures of the said officers
of the City."
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Section 2: That the Notice of Sale set forth in Section 6 of Ordi-
nance No. 75-14, and all provisions thereof, are here-
by ratified and confirmed.
Section 3: That all proceedings heretofore conducted with re-
spect to the sale of the bonds to the United States
National Bank of Oregon be and the same are hereby ratified and
confirmed.
Section 4: Inasmuch as it is necessary for the peace, health and
safety of the people of the City of Tigard that the
ambiguity heretofore existing between Section 3 of Ordinance No.
75-14 and the Notice of Sale in Section 6 of Ordinance No. 75-14
be removed without delay in order that the said bonds may be
printed, delivered and the funds thereof received to timely meet
the City's obligation, an emergency is hereby declared to exist,
and this ordinance shall be effective upon its passage by the Council
and signature by the Mayor.
PASSED: By the City Council by ejngipa 30tr5 vote of a12 Council
members present, after- Being read three times by"number
and title only, this_ day of 1975.
Recor er -- city,
6y6MED: By the Mayor, this ,day of ,/ 1975.
Mayor - City of_Tigard
1 - ORDINANCE NO. 75 -