Ordinance No. 81-17 CITY OF TIGARD, OREGON
ORDINANCE NO. 80- 17 -
AN ORDINANCE AMENDING ORDINANCE NO. 80-97 RELATING TO THE SW 92ND
AVENUE SEWER IMPROVEMENT DISTRICT (L.I.D. #24) , BY ADDING SECTIONS
PERMITTING THE ISSUANCE OF GENERAL OBLIGATION IMPROVEMENT WARRANTS;
DECLARING AN EMERGENCY.
WHEREAS, on the 8th day of December, 1980 the Tigard City
Council passed Ordinance No. 80-97, confirming and ratifying its
previous resolutions relating to the SW 92nd Avenue Sewer Improvement
District; and
WHEREAS, Ordinance No. 80-97 did not contain a finding
concerning the character of the improvements within the district
so as to permit a determination as to their qualification for
financing by general obligation improvement warrants; and
WHEREAS, Ordinance No. 80-97 also failed to authorize the
issuance of improvement warrants for the SW 92nd Avenue Sewer
Improvement District;
NOW, THEREFORE,
THE CITY OF TIGARD ORDAINS AS FOLLOWS:
Section 1: Ordinance No. 80-97 i5 hereby amended by the addition
of Sections 5 and 6, as follows:
Section 5: The Tigard City Council finds
that the improvements authorized to be made in
the SW 92nd Avenue Sewer Improvement District
(L.I.D. #24) are of the character described in
ORS 223.205, and that they therefore qualify
for financing by general obligation improvement
warrants pursuant to ORS 287.502 - 287.510.
Section 6: General obligation improvement
warrants for the SW 92nd Avenue Sewer Improvement
District (L.I.D. #24) are hereby authorized to
be issued in the aggregate amount of $18,000.00
The warrants shall bear interest at the lowest
rate at which the City can borrow on the date
of issuance and shall constitute a general
obligation of the City of Tigard that shall
mature on or before two years after date of
issuance, but not later than April 13 1983.
Warrants shall be retired as funds are received
in accordance with ORS 287.506. The Mayor and
City Recorder are hereby authorized to execute
the described warrants in behalf of the City of
Tigard.
PAGE 1 - ORDINANCE NO. 80-_t7
t
' T t
r
y T
�; Inasmuch as it is necessary for the peace, health, dod
Section_ of Tigard that the
¢� safety of the people of the City
improvements within the SW 92nd Avenue Sewer Iand veme t Distri t �
possible delay, t
be constructed with the least reatest speed and efficiency
for them be arranged with the greatest
to exist, and this
possible, an emergency is hereby the Council
ordinance shall become effective upon its passage by
and its signature by the Mayor.
By the Council, by unanimous vote of all councinu number PASSED: read two times by
members present, after being
and title only, this f3 day of April, 1981•
RECO E
APPROVED: By the Mayor, this 13 day of April, 198 .
MAYOR
PAGE 2 ORDINANCE NO. 80-��