The times-herald. [volume] (Burns, Harney County, Or.) 1896-1929, 1915-06-26

the particular use or uses to which tn
proceeds shall be applied. All bonds O
the city when delivered to the purchas
or shall thereafter be incontestible, an,
neither their legality nor the levy
assessment, or collection of taxes 70
the payment OF either the interest OF
or the principal OF, said bonds shall b,
open to contest by said city or by am
person or persons, corporation or cor
porations, for any reason or reuson
whatever.
In and by the ordinance authorizing
the issuance and sale OF any bonds io
wnterworks. sewers or light plant, tn,
common council shall levy direct aunua
ad valorem taxes, In addition to nj
other taxes, aud particularly IN addition
to the 10 mills provided in subdivision
2 of Section 80 and in Section l02 o
this charter and without submitting
such ordinance or levy To the vote o
the owners OF taxable property in snit
city or to the vote OF other Taxpayers oi
voters therein, upon all taxable propert,
ofthe city, sufficient to pay the interest
ON said bonds promptly when and n,
the same becomes due. and to create d
sinking fund to discharge the principal
thereof at maturity, and said council
shall include such levy in the annual
general tax levy Of the city. Said coun.
Gil rhal also require the collection OF such
taxes by the proper city and county
officials. authorized by law to make
such collections, and the taxes 50 levied,
assessed and collected shall be kept in
separate funds for each kind of bonds,
respectively, and each Of said funds shall
be used solely in the payment of the in
terest and principal Of its respective
bonds. and the said principal and inter.
est shall be paid out of said funds at the
time or times provided according to law
and the tenor Of such bonds and coupons,
and euch ordinance authorizing the is.
suance and sale Of such bonds aud levy
ing such taxes shall, upon payment Of
the purchase price Of any of said bonds,
he irrepcalahle, and the classes, kinds or
amount Of property subject to taxcs, or
the method or manner Of levy, assess.
ment or collection Of taxes thereon, pro.
vided by law at the time of passage and
approval Of such ordinance, shall not he
changed in any manner so as TO reduce
or diminish the security for such bonds
or any OF them, or lessen the power,
authority or ability Of said city to raise
funds sufficient TO pay the interest on
said bonds promptly when and as the
same becomes due, and TO discharge the
principal thereof at maturity, nsprovid-
cd in the ordidance issuing such bonds
Or any Of them, 80 long as any OF pnid
bonds or any Of the interest thereon re.
mains unpaid.
In the event Of the refusal. neglect or
failure Of the city, Of the said council,
or any or all OF tho officials Of the city
having todo with the levy, assessment
or collection at the taxes provided la this
section, or the payment OF The moneys
thereby derived To the holder or holders
OF said bonds or the coupons appcrtan-
ing thereto, TO perform their several
duties relative TO such levy, assessment.
collection or payment, at tho time or
times provided according To law aud
the tenor OF said bonds and coupons,
whereby any default occurs in the pay.
ment Of the interest upon any of said
bonds. or any part of such interest, or
the principal Of said bonds. or any part
thereof, At the time, place or manner of
payment OF said principal or interest,
and by reason Of such default, any suit
or proceeding is brought by the holder
or holders Of any such bond or bonds,
coupon or coupons, TO recover any such
principal or interest, due and unpaid,
then in that case the said city shall be
liable for and shall pay, not only the
principal or interest, or both, which may
be due to such holder or holders, but
shall also DO liable for and shall pay all
costs and expenses OF such suit or pro.
and also reasonable attorneys
fees amounting to the sum OF ten liol
per cent of the AMOUNT Of the principal
or interest, or principal and interest,
as the case may be, for which any such
suit or proceeding is brought, and all
such costs and expenses OF such suit or
proceeding including such torney's fees.
shall be. and the same are hereby declared,
10 much additional indebtedness Of the
city. which shall be- included In any
Judgment obtained against such city,
and fhe payment Of which shall be en- |
forced In the same manner and by the
same means as the payment of sniG
principal apd interest.
In addition to being q general obliga-
Hon of said city, the sad bonds shall be
A first and exclusive lien on all lands,
rights Of way, sasemsnts, water rights,
reservoirs. springs, wells. pipe lines,
poles, wires, structures, machinery and
appliances Of every kind and nature,
composing, respectively, the water.
works system, sewer syseem or light
liant acquired, erected, constructed or
paintsined with the money derived
rom ting sale NJ said bonds respectively.
The income derived from any water
works system or light plant owned,
ontrolled or operated by the city oil
iprns shall be disposed Of in the follow.
ng order and manpeT % In the
aymeni Of the reasonable costs aud
xpeRses Of operating said waterworks
ystem or light plant, including needed
,palrs thereon, apd collecting it's ,
svenues. ~ In the payment OF the
iterest aceruing on the outstanding
onds issued To secure such waterworLs