Daily capital journal. (Salem, Oregon) 1903-1919, 1913-08-25
ORDINANCE NO. 1889.
Submitted to the Legal Voters of the City of SGe Oregon
by the Common Cotncil-NO TaOo.

ectS authorized to be paid for out OF bond issue aggre
eating $48000000 and to include all public sewers here
ofore constructed and omitted from the original pro-
visions of said Ordinance No. 1172 provide for bonds
to pay for said sewers together with interest on out
standing evidences of Indebtedness issued for and
drainage construction purposes to fix the limit OF the
said bond issue and to prescribe the details Of ssue to
require interest be paid annuay and to authorize
limited miage tax for paying the principal and inter-
est of said bonds to provide for paying interest at the
rate of six (6) per cent per annum upon moneys paid
under assessment ordinances for public construc
ton and to authorize the Common Council to require
proof of claims for refunds and the method of paying
such claims.
Be Ordained by the Common Council of the City of Salem,
Oregon:
Be Ordained By the Legal Voters of the Cty of Sale
Oregon:
Section l. Ordinance No. 1172 of the City of Salem
Oregon, adopted under the initiative by vote of the
people the End of December 1872 is hereby amended
and modified that the shall read follows towit:
"Secton For the purpose of paying the indebtedness
heretofore incurred in the construction of the North Salem
Sewer the South Salem Sewer the Union Street Sewer
land the extension of the Marion Street Sewer and also
hose certain public installed under the designation
"of Lateral Sewer Districts and numbered from one O
ito thirteen S both inclusive, and sixteen Q6) seven
"teen 17 eighteen (18) and twentyone (21) all installed
under City contracts at the expense of the property spe-
ciay benefited and by special assessment and such other
public sewage and drainage systems as may have here
oore been constructed by special assessment against the
property specially benefited under special assessments by
"the Common Council the building and construction of
(which by the people of the City of Salem Oregon con-
frmed and ratified and the indebtedness thereof assumed
and of refundng to the property all moneys which
have been paid by them their grantors toward the
sucon of each of said sewers and to pay off and cancel
a liens against private property incurred by the consruc
on of said sewers there shall be issued and sod general
obligation bonds of the City of Salem Oregon aggrgatng
"the Of Four Hundred Eighty Thousand ($480000)
Dollars running from Q) to twenty (20) years.
"Twentyfour Thousand ($2400O) Dollars of said bond
tissue shall be paid annually Said bond issue shall bear
neret at the rate Of five (5) per centum per annum
payable sem-annualy and shall be dated May l. 1913
Section 2. The bonds issued under the provisions of
this ordinance shall be general obligation of the City Of
Saem Oregon and shall be paid in gold coin of the United
States and be issued in denominations Of not less than
Fifty ($5O) Dollars than One Thousand $10OO)
Dollars, and shall be issued and sold according to the
method prescribed by paragraph e of Section 81 of the
Charter amended at the election held the day of the
Submission of this ordinance to the legal voters of the
"City of Salem
Section g. The Common Council of the CITY of Salem
Oregon hereby empowered and directed to levy mage
ax and above the tax limitation of Section g. Sub
division of the City Charter in addition to the amount
necessary each and every year for the maintenance and
operation of the several departments of the City govern
men at the time provided by the Charter of the City Of
Salem for fixing the annual tax levy of said City, as ad
dona levy each year from and after the issue date of said
bonds sufficient to pay onetweneh Of the principal of
said bonds and the annual accrued interest thereon and
there shall be collected by taxation and assessment under
said special levy herein provided and paid on the prn
cpa and semiannua interest of said bonds during each
and every year until the full amount thereof fully paid
and satisfied the following amounts during each year.
"to-wit:
l9l4 $4680O being principal $4,000, interest $22, ,800
!SI6 $456OO being principal $24O0O interest $21 600
1916 S44400 being principal S24 00O interest 500 400
1911 $432OO being principal $24,000 interest $192O0
1918 $4,000 being principal $24,000 interest $4,000
1913 $4O8OO being principal S24 000 interest S168O0
1920 $39600 being principal S24 000 interest S1560O
1921 $38400 being principal $24 00O interest 400
1922 $37 200 being principal $24 000 interest $4,000
1923, $36OOO being principal $24 OOO interest $4,000
1874, S34SO0 being principal S24 000 interest $10800
1870, S33oUO being principal S24 000 interest $780,
!9So $Sz4OO being principal $4,000 interest 8,400.
1927 1900 being principal $24OOO interest 1900
1928, $30000 being principal S240OO interest 5000
l929, $288OO, being principal $240O0 interest 4SOO
1880 $276OO, being principal $24 40O0 interest $500
1881 $2640O, being principal $24 0OO interest 24OO
1882, S252OO being principal $240 0OO interest 1900
Section 4. Out of the moneys derived from the sale
SAID bonds there shall be repaid to all property owners
entitled thereto who have heretofore paid into the Cty
treasury by themselves their granors such sum or
sums as may have been from time to time paid by them
her grantors on account Of special assessments levied
Ior te construction of any Of said sewers or drains
together with interest thereon at six (6 per centm per
anum IRON the date of payment as entered in the Docket
o % Liens to the date Of sale of the bonds provided for
under Section 2 of the Charter as amended at this cleo
"ton, and this Ordinance ~ Wis eoN
Section g. That out of the moneys derived from the
sale OF SAID bonds there shall also be paid off DISCHARGED
and cancelled all bonds and evidences of CITY indebtedness
and liens heretofore created by virtue of special assess
ments levied against private property and each and oil
a nAA -