Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1916-03-30
Notice Of Special
Election

lar meeting of the Common Council
of the City of Ashland, Oregon, helt
on the 21st day of March, 1916, thu
following resolution was duly passed
and adopted by the Council and ap
proved by the Mayor of said city:
Resolution.
Whereas, on September /, 1909
the City of Ashland issued certain
general obligation bonds of said city
known as STREET INTERSECTION
BONDS, for the aggregate sum o.
of $4,000; and
Whereas, heretofore bonds of sale
issue have been redeemed, paid anC
cancelled by said city in an amount
aggregating $4,000, thereby leavinl
bonds of said issue outstanding anC
unpaid in a sum aggregating $10,,
500; and
Whereas, under and pursuant tc
the provisions of the charter of said
city and the terms and conditions in
said bonds contained the said unpaid
bonds Of said series, to wit, bonds
numbered n to SS, both inclusive, in
denominations of $500 each, aggre-
eating $10,500, did become on and
after March 1st, 1916, payable at the
option of said city; and
Whereas, on July /, 1870, said city
issued its certain other general OBJ
legation bonds of said city known as
STREET INTERSECTION BONDS
for the aggregate sum of 100000;
and
Whereas, heretofore bonds of said
last named issue have been redeemed
paid and cancelled by said city in an
amount aggregating $4,000, thereby
leaving bonds of said last mentioned
issue outstanding and unpaid in a
sum aggregating $4,000; and
Whereas, under and pursuant to
the provisions of the charter of said
city and the terms and conditions in
said bonds contained the said unpaid
bonds OF said last named series, to
wit, bonds numbered 81 to 60, both
inclusive, being in denominations OF
$500 each, aggregating s12, 900, will
become on April l, 1916, payable at
the option of said city; and
Whereas, on April !, 1911, said
city issued its certain other general
obligation bonds also known as
STREET INTERSECTION BONDS
for the aggregate sum of S35, 900;
and
Whereas, heretofore bonds of said
last mentioned issue have been re-
deemed, paid and cancelled by said
rity in an amount aggregating s23,-
900, thereby leaving bonds of said
issue outstanding and unpaid in
sum aggregatng $4,000; and
Whereas, under and pursuant to
the provisions of the charter of said
city and the terms and conditions in
said bonds contained the said unpaid
bonds OF said mentioned series, to
wit. bonds numbered 264 to 2S7, both
inclusive. all for $500 each, aggre-
eating $4,000, will become on July
l, 1916. payable at the option of said
city; and
Whereas, on March 10, 1911, said
city issued its certain other general
obligation bonds known as SEPTIC
TANK BONDS for the aggregate sum
of $4,000; and
Whereas, heretofore bonds Of said
last mentioned issue have been re-
deemed, paid and cancelled by said
city in an amount aggregating $4,000
thereby leaving bonds of said last
mentioned issue outstanding and un-
paid in a sum aggregating $4,000;
and
Whereas, under and pursuant to
the provisions of the charter Of said
city and the terms and conditions in
said bonds contained the said unpaid
bonds of said last named series, to
wit. bonds numbered 206 to 217, both
inclusive, all for $500 each, aggre-
eating $4,000, did become on and
after March 10, 1916, payable at the
option of said city; and
Whereas, on July l, 1913, said city
issued its certain other general OBJ
legation bonds known as FIRE Pro
lection BONDS for the aggregate
sum of $4,000; and
Whereas, heretofore bonds of said
last named issue have been redeemed,
paid and cancelled by said city in an
amount aggregating $4,000, thereby
leaving bonds of said last mentioned
issue outstanding and unpaid In a
sum aggregating $4,000; and
Whereas, under and pursuant to
the provisions of the charter of said
city and the terms and conditions IN
said bonds contained the said unpaid
bonds of said last named series, to
wit. bonds numbered $50 to 755, both
inclusive, for $500 each, aggregating
$4,000, will become on July ]. 1916,
PAYABLE at the option of said city;
and
Whereas, each and all of the bonds
of each and all of the aforesaid issues
now outstanding and unpaid, aggre-
eating S43,500 par value in amount,
have been and are drawing interest
at the rate of six per cent C6%o) per
annum; and
whereas, the City of Ashland can
at the present time issue and sell its
general obligation bonds to bear in
terest at a rate not to exceed five per
cent (5q6) per annum; and
Whereas, the Council deems it for
the best interest of the city to pro-
vide by charter amendment for the
issue and sale of REFUNDlNG
BONDS of said city in sum not to
exceed S49,5OO (Which with the sink
ing funds now on hand will be amply
sufficiently for the purpose of proyid-
ing funds for the redemption OF tne
aforesaid bonds of said series herein
above enumerated as are now payable
at the option of the city, to wit, bonds
aggregating $16,500, and for the fur
ther purpose of providing a bond re-
demption fund to be used in redeem
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