Daily capital journal. (Salem, Oregon) 1903-1919, 1912-09-26

hereby empowered and directed TO levy
In addition TO the amount necessary
each and every year, for the malnten-
ance and operation Of the several de-
.partments of the city government Of
the City Of Salem, Oregon, at the time
provided by Charter Of the City Of
Salem for fixing of the annual tax
levy for said city, an additional as
sessment each year from and after the
issuance and sale of said bonds, for
the purpose CT paying one-twentleth
Of the principal of said bonds, and the
annual accrued interest thereon; and
there shall be collected by assessment
as herein provided, and paid on the
principal and interest on said bonds,
during each and every year until the
full amount thereof is paid and salts
fled, the following amounts per an
nun, viz:
1918, s3S,OOOOO, being $1oOOO.OO
principal $19,OOOOO interest.
1914, $S7, ,O5OOO, being $19OOO.OO
principals $1S,O5O.OO interest.
1915, s36,1OOOO, being s19OOO.OO
principal $171OO.OO interest.
1916, sS5,15OOO, being s1O,OOO.OO
principal $16,15OOO interest,
1917, sS4,2OO,OO, being $19,OOO.OO
principal; $15,2OO.OO interest.
1918, sSS,25OOO, being $10,OOO.OO
principal; s14,25O.OO interest.
1919, s32,SOOOO, being 100000
princlpal $13,SOOOO interest.
1920, s31, $4,000, being s19,OOO.OO
principal; $12,S5OOO interest.
1921, $SO,4OO.OO, being s19,OOO.OO
principal 11,4OOOO interest.
1922, s29,45OOO, being $10,OOO.OO
principal; s1O,45O,OO interest.
1923, s2S,5OOOO being 100000
principal s9,5OO.OO interest.
1924, $2755OOO, being $1O,OOOOO
principal $S,55O.OO interest,
1925, s26,6OOOO, being $19,OOO.OO
principals $76OOOO interest.
1926, s25, $4,000, being s19OOO.OO
principal; $6,65OOO interest.
1927, s24,7OOOO, being $19OOO.OO
principal; s5,7OO.OO interest.
1928, $SS,75OOO being $19OOO.OO
principals $4,75OOO interest.
1929, $22,SOOOO, being 100000
principal; $9,SOO.OO interest.
1880, $21,S5OoO being $10OOO.OO
principal; $2,S5O.OO interest.
1881, s2O,9OOOO being $10OOO.OO
principal; $4,000 interest,
1882, 19,05O.OO, being s19,OOO.OO
principal; $95O.OO interest.
Section 4. That out of the moneys
derived from the sale of said bonds,
there shall be repaid to all property
owners entitled thereto, who have
heretofore paid into the city treasury,
by themselves their grantors, such
sum or sums as may have been from
time to time paid by them or their
grantors on account of special assess
ments levied for the construction Of
any of said sewers or drains.
Section 5. That out Of the moneys
derived from the sale of said bonds,
there shall also be paid off, discharged
and cancelled all bonds and liens here
tofore created by virtue of special as
sessments levied against private prop
erty and each and all person or per-
sons for the construction of any of
said sewers or drains provided for by
Ordinances Nos. 1874, S77, S21, S76, $50,
and S2S, passed and adopted by the
Common Council of the City of Salem,
Oregon, and thereafter all Of the pri-
vate property affected by the construc-
tion Of the said North Salem Sewer,
the South Salem Sewer, the Union
Street Sewer, and the extension of the
Marion Street Sewer, shall be free
from any and all liens or membranes
created by reason of the construction
of said sewers, and the City Recorder
is hereby authorized and directed to
enter due release and satisfaction
thereof in the proper lien records Of
the City Of Salem, Oregon
Section G. That the City Attorney
Of the City of Salem, Oregon, is hereby
directed to prepare the form of the
bonds herein provided, and, when so
prepared and issued the Mayor and
Recorder are authorized and directed
to sign the same, and to affix the seal
of the City of Salem, Oregon, thereto.
The City Council Of the City of Salem,
Oregon, is authorized and directed to
do and perform any and all acts nee
essary to carry into effect the provis-
ions Of this ordinance.
The title of the foregoing bill on the
official ballot together with the num-
ber is as follows:
A BILL
FOR AN ORDINANCE PROPOSED BY
INITIATIVE PETITION