Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1912-12-12
NOTICE OF A SPECIAL CITY
ELECTION.
Recorders Office,

with the City Recorder of Ashland,
Oregon, demanding that there be
submitted to the legal voters of said
city, for their approval or rejection,
the hereinbelow proposed ordinance,
after the Recorder had duly verified
the number and genuineness of the
signatures to said petition and found
the same to be in proper form and
to contain more than fifteen per cent
of the vote cast for mayor at the
city election held December goth,
1910, said petition was duly present
ed to the Common Council of the City
of Ashland, Oregon, at a regular
meeting held on the 18th day of No
vember, 1912, and there was then
duly passed a resolution in pursuance
of said Initiative Petition and call,
and in pursuance of the ordinances
of the City of Ashland and the Gen
eral Laws of the State of Oregon,
whereby said City Council did by
unanimous vote, with the approval
of the Mayor, call a special city cleo
tion to be held on the 18th day of
December, 1912, for the purpose of
submitting to the legal voters of the
City of Ashland, Oregon, for their
approval or rejection, Oh the 18th
day of December, 1912, the herein
below proposed ordinance.
And notice is further given in pur-
suance of the foregoing premises that
a special election will be held for
the purpose of submitting to the le-
gal voters of the City of Ashland, for
their approval or rejection, on the
18th day of December, 1912, the
( following proposed ordinance:
City Ordinance No. ...
An ordinance providing for the is
suance of Electric Light Bonds, of
the City of Ashland, Oregon, in the
sum of Twenty-Five Thousand Dollars
! ($25, 100000, for the purpose of
constructing, building and installing
/ an auxiliary municipal electric light
and power plant, to be owned and
operated by the City of Ashland, Ore
gon; to extend the pole lines in and
about said city, and to purchase all
! equipment, material and supplies
necessary thereto.
The People of the City of Ashland
Do Ordain as Follows:
Section /. That there are hereby
authorized to be issued the bonds of
the City of Ashland, to the amount
of Twenty-Five Thousand Dollars
| ($25, 100000, in denomination of
| Five Hundred Dollars ($500.00)
numbered consecutively from 756 to
| sos, both inclusive, and to be known
as Electric Light Bonds. Said bonds
shall be dated the 1st day of January
1913, and shall be signed by the
mayor and countersigned by the re-
corder, and shall bear interest, evil
denced by coupons attached thereto,
at the rate of five per cent C5fc) per
annum, payable semi-annually, and
both principal and interest of said
bonds shall be paid at the City Treas
urer's office in the City of Ashland,
Oregon.
Sec. 2. Such electric light bonds
shall mature in thirty years from the
date thereof, and shall be redeemable
at the office of the Treasurer of said
city, at the option OF the City of Ash
land, upon the payment of the face
value thereof, with accrued interest
to date of payment, at any semi
annual coupon period at or after
twenty years from the date thereof
and notice stating that certain bonds
are to be taken up and cancelled, and
that the interest thereon shall cease
at the interest paying period next fol
lowing, shall be published in a news
paper, printed ard published and OF
general circulation in Jackson Coun.
ty, Oregon, not less than three times
during the month preceding said
semi-annual period, and after the
said semi-annual period interest upon
the bonds designated in said notice
shall cease.
Sec. 8. The Common Council shall
sell such bonds, or so much thereof
as may be necessary, at the highest
price obtainable, but for not less
tnan par and accrued interest, for the
purpose of providing money to con.
struct, build and install an auxiliary
municipal electric light and power
plant, to be owned and operated by
the City of Ashland, Oregon; to eX-
tend the pole lines in and about said
city and to purchase all equipment
materials and supplies necessary
thereto.
Sec. A. The bonds hereby author
lied shall be registered respectively
by number and denomination of each
in the Bond Register kept by the
Recorder of said city, and said bonds
shall be in substantially the follow
ing form:
UNITED STATES OF AMERICA,
STATE OF OREGON, CITY OF
ASHLAND,
ELECTRIC LIGHT DOND.
No. .. $4,000
Know All Men BY These Presents,
That the City of Ashland, in the
County of Jackson, State of Oregon,
for value received, hereby agrees and
promises to pay the bearer the sum
of Five Hundred Dollars ($500.O0)
i'll gold coin of the United States of
America, on the presentation and sur
render of this obligation on the 1st
day of January, 1943. without grace,
with interest thereon from the date
hereoI until redeemable at the rate
of five per cent (5%) per annum,
payable semi-annually in like gold
coin on the 1st day of July and Jan
uary in each year, on the presenta-
tion and surrender of the proper cou-
pom hereto annexed. Principal and
interest payable at the office of the
treasurer of the City of Ashland,