The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1908-09-11
THE MoRNING AsToRIAN, AsToRIA OREGON.

UpHu5 VI the Itfy OF hstOrfd, running
for a period Of not less than forty
years, the aggregate amount Of which
bonds for the construction Of such
bnlkheads or retaining walls shall not
exceed the sum Of $300,00000. All
bonds issued and sold to raise funds
Tor the construction Of bulkheads or
retaining walls shall provide that the
same may be recalled and paid at the
option Of the city at par at any time
after the expiration OF ten years from
the date Of issuance OF the same.
Provided that nothing herein contain
ed shall be construed to limit or re-
strict the amount Of twcnty-year
bonds that may be issued and sold
from time to time to defray the costs
and expenses OF filling In the tide
lands, mud fats and ovcrhowed lands
where the owners Of property assess
ed to defray the expense thereof
shall avail themselves Of the priyi-
lcge Of paying assessments In ten
equal installments as hereinafter
provided; It being the expressed in
tention Of this act that the costs and
expenses Of constructing the bulk
heads shall be betrayed by general
taxation or the issue and sale OF
bonds but the costs and expenses Of
filling in and reclaiming the tide
lands, mud fats and overlooked lands
shall be by local special assessments
levied upon each lot or parcel OF land
or tract Of water frontage filled in
according to the benefits resulting
from the filling in and retaining OF
the same including the filling in Of
the abutting streets and alleys. All
bonds issued under this act shall bear
such rate Of interest as may be de-
termined upon by the Commission
not exceeding 5 per cent per annum
and all bonds issued to pay for filing
in or reclaiming the tide lands, mud
fats and overhowed lands on account
Of persons owning property assessed
for that purpose ayailing themselves
Of paying assessments in install
nents, shall provide that the same
shall be redeemable at the option OF
the city at par with accrued interest
at any time after the expiration OF
two years from the date of issue, and
all bonds shall be signed by the
chairman and secretary Of the ON
mission and the full faith and credit
OF the City Of Astoria shall be
pledged to the payment Of all bonds
issued under this act.
No part OF the expense of filling
in or reclaiming any of the tide
lands, overfowed lands, mud fats or
water frontage including the streets
of any reclamation district Except
ing the retaining walls or bulkheads)
shall be paid from general taxation,
but the whole expense OF filling in
and reclaiming such tide lands, mud
fats or water frontage in any district
including the streets, and crossing
and alleys thereof shall be betrayed
by special assessment upon the lots,
lands and premises inclusive Of water
frontage included within the special
assessment district to be constituted
of the lands so filled in and benefited
by the improvement, and the con-
tract for any such improvement shall
provide that the contractor shall look
exclusively TO such assessments and
the funds to be derived therefrom for
for constructing the same,
except whenever any of the owners
OF the land assessed for .such i'm
provement shall ask for the privilege
OF paying his assessment in ten in
stalments as hereinafter provided, the
Commission for and on behalf of the
City of Astoria shall have power and
to issue and dispose of ne
gotiable bonds OF the City of Astoria
from time to time, equal in amount at
the par value thereof to the amouna
due the ity OF Astoria on
account of such persons so assessed
having availed themselves OF the priv
Ilege of paying such assessments in
installments. and said bonds shall be
payable twenty years from date of
ssue and draw interest at such rate
is the Commission shall determine not
exceeding S per cent per annum pay
able annually and shall provide that
the same may be called at any time
after two years from the date of
ssue at par plus the accrued interest
md all moneys paid to the treasurer
If the Commission on account of in
,tallments OF such assessments shall
Immediately be used in retiring such
ponds.
Such bonds may be issued and sold
1t par direct to the contractor execut-
ng the work. The aggregate amount
If such twenty-year bonds SO issued
IN account OF instalments shall not
,xceed $s00,000,00 at any one time and
uch bonds as we'll as the bonds is
ued to secure funds for constructing
'ulkheads or retaining walls shall not
We taken into computation in ascer-
aiming the limit Of indebtedness Of
he city mentioned in Section 1872 Of
he charter Of the City OF Astoria
When the expenses Of any fill shall
'e assessed against any lands belong
ng to the city or used for public
buildings or public grounds and ex-
mpt by law from such assessments,
he amount Of such assessment shall
e paid by the Common Council to
he treasurer Of the Commission by
varrant on the treasurer Of the City
{ Astoria payable out of the general
lnd,
Section loo. In case the Commits