Daily capital journal. (Salem, Oregon) 1903-1919, 1911-05-06
ORDINANCE NO. 92s.
A Bill

providing ncurrng Indebtedness to the s
of 100000 by the issuance sale against the city of Salem
Oregon for the purpose funds construction Of m
bridges within the city Sam Oregon providing for the term
of said Indebtedness and the denominations and interest
such bonds and the of dsposng the providing
for submission of the proposition mourning indebtedness and
the issuance of such bonds the legal city Salem
special election be called for such purpose and matters
thereto:
Be ordained by the council of the city Oregon
That Whereas prominent city have requested
that the question of the issue and sale recon
struct bridges recently destroyed Mill Creek build
other bridges, voters
city at a special election and
Whereas the general interest of the city inhabitants thereof
demand the immediate construction of such BRIDGES
Therefore, Be it ordained:
Section the purpose providing re-conruca
bridges at certain points Mill Creek where bridges
destroyed by floods constructing other necessary
Oregon common council of said city is hereby author
lied and Indebtedness
bonds hereinafter provided to the of s6OOOO
Sec Such bonds shall be known and designated Salem NUM-
cpal Bridge Bonds" shall
$25OO and not greater than $0OOOO popular loan pn a
interest exceed six go such bonds shall
be payable within ten 1O) years the July 1911
Sec The principal and interest said bonds shall be payable
gold coin of the United shall
be paid semannua the first day of July and the first day Of jan
uay of each after date ISSUE at the office of the treasurer
the city of Salem, Oregon
Sec A. To said twenty 2O interest
coupons printed the margin Of the which printed
bond ITSELF and representing the amounts of emannual interest
come due the said first days July and January consecu sue
ceeng the said pedging the times and
place mentioned the interest the sale there
ot Such bonds shall be signed by the of the city Salem %
and aeed by the recorder of said city, and each bond shall bear
impress of the seal Of the city of Salem Oregon and shall pledge
faith credit thereof accord
ing to the terms thereof.
Sec All remaining unubscrbed and unod when
the subscription been duly closed
shall be sold the highest and best bidder b
for all said remaining not less than %
Such bonds shall be eexmpt from all taxation for municipal pu
and equal bidders in the sale and allotment @
shall residing and state ot W
Sec 1t shall be the duty of the treasurer OF the city OF S
when said bonds herein provided for shall have been sold ana
for price shall received W sun
treasurer arising from the sale ms
separate and from all other of the said city and W
shall be designated Emergency Bridge Fund and the same ~
paid only the constructing and repairing bridges w
in the city Salem, Oregon
the purpose Of carrying provisions herein con-
namely: of $6OOOOV m &
reconsrucg bridges destroyed by recent floods on
Creek and constructing repairing other necessary bridges al
Issuance and sale of bonds special election of the city Oh
gon hereby called to be held the 18th day of June M
election shall be held respects in the in WhCn
elections held in the city Of Saem at which time the
curing such indebtedness by the issuance and sale
submitted the said city for their adoption
Each voter shall designate intention by voting Yes OF ~
swer to the following question:
council of city Salem Oregon incur a.
debdness by the sale of bonds for the purpose
structlng bridges Mill Creek and
and repairing necessary bridges the city in the sum
Sec g. The ballot title to submit this ordinance to the 7e
the city shall be substantially follows, to-wi ,sodues
ITO rafy Ordinance No s2S providing for ncurrlng an M sum
by the city Salem and sale OF bonas vote Yes
purpose of constructing bridges
or No." nr
Sec city shall, than twenty Wv ~ mis-
proposed election full text and ballot u M city
dinance to be printed in newspaper published ana pi
of Salem Oregon five 90 consecutive publications. o1
by common council this Gath day OF April i'
Attest CEIAS F. ELGIN,
City Recorder.
approved Oy the Mayor THIS A''nua' " W LOUIS LAcB ,o