Daily capital journal. (Salem, Oregon) 1903-1919, 1911-05-10
ORDINANCE NO. ses.

For an ordinance providing for ncurrng amount
by bonds against the city of Salem
raising funds for the construction Of nee
bridges within the city Salem Oregon providing for the term
of said indebtedness and the terms denominations and interest OF
dspong providing
for submission of the proposition Indebtedness and
legal voters city
special election be called for and matters kindred
thereto:
by council of the city
That business requested
that the issue and
suct bridges recently destroyed and build
other necessary bridges be again submitted the legal voters OF the
city special election
general the city and the
demand the immediate construction o bridges;
Therefore, ordained:
Section providing reconstruction
bridges certain points Mill Creek bridges recently
destroyed by floods and constructing bridges within the
city Of Salem Oregon the Council said city is hereby author
lied and empowered incur indebtedness the sale and issuance Of
bonds as hereinafter provided, to the 100000
Sec Such bonds shall be Salem NUM-
cpa Bridge Bonds and shall be issued denominations not less than
$500 and not greater than OOOOO pan at rate
interest not to exceed six @ per such bonds shall
be payable within ten QO) from of July 1911
Sec The principal and interest payable in
gold coin of the United States America and the interest thereon shall
be paid semiannua the first day the first day of jan
ua each after date ISSUE of the treasurer OF
the city Of Salem, Oregon.
Sec To each of said bonds 2O interest
printed the margin which printed the
bond ITSELF representing interest be-
due the said first onsecuty
cdng the said of pIedgng and
mentioned and the of the sale there
Of Such bonds shall be signed the Salem Oregon
and aeed by the recorder of said and each bond shall bear the
impress of the seal of the city shall pledge the
faith and credit of the city of Salem payment thereof accord
ing to the terms thereof
All such bonds remaining nsubsced unod when
the subscription books for the thereof shall have been duly closed
shall be sold the bidder bidding
for all of said bonds remaining than
Such bonds shall be exempt from municipal
bidders in
shall be given to bidders residing Salem,
for the smallest amount and lowest denominations in due
Sec 1t shall be the duty of the Saem
when said bonds herein provided shall sold paid
and the purchase
treasurer all the thereof
and from all moneys city,
shall be designated Emergency Bridge Fund and the shall be
paid out only for the repairing bridges with
in the city of Salem, Oregon
Sec For the provisions
ned namely To incur Indebtedness $60O00 for the
of consrucng bridges destroyed floods Mill
Creek and constructing repairing necessary
Issuance and of bonds special city
egn is hereby called to be held the 18th 911 which
election shall be held in all which general
elections held in the city Saem which time the matter of in
curing such Indebtedness issuance bonds shall be
submitted
Each shall designate his mo"
swer to the following question:
"Shal the city Oregon
dbdness by the Issuance
structng bridges destroyed
and repairing other bridges $OOO
Sec The ballot title to submit this ordinance the legal of
the city shall be substantially follows to-wt:
ITO ay Ordinance $685. providing indebtedness
by the city the
OOOOOO for the of constructing bridges Vote
or
Sec The city recorder @ before
the said election full ballot title this
dnance to be printed published and printed the city
n of Salem Oregon five (5) publications
+ Passed by the council this Oath day of April 1911
p Attest CHAs F. EIGIN,
d City Recorder.
: Approved by the Mayor this 26thday of April 1911.
If LACHMUND,