Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1916-04-10
Notice Of Special
Election

oil the CltN OF ASulduu, OlGSOH, Hclu
on the 21st day of March, 1916, the
following resolution was duly passed
and adopted by the Council and ap-
proved by the Mayor of said city:
Resolution.
Whereas. on September /, 1903,
the City of Ashland issued certain
general obligation bonds of said city,
known as STREET INTERSECTION
BONDS, for the aggregate sum OF
of $4,000; and
Whereas, heretofore bonds OF said
issue have been redeemed. paid and
cancelled by said city in an amount
aggregating S4,500, thereby leaving
bonds of said issue outstanding and
unpaid in sum aggregating $10,-
500; 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 series, to wit, bonds
numbered II 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 /, 1910, 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 agsregating $4,000, thereby
leaving bonds of said last mentioned
issue outstanding and unpaid in a
sum aggregating S12, 900; 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 $4,000 will
become on April /, 1916, payable at
the option of said city; and
Whereas, on April l, 1911, said
city issued its certain other general
obligation bonds also known as
STREET INTERSECTION BONDS
for the aggregate sum Of $S5, 900;
and
Whereas, heretofore bonds of said
last mentioned issue have been re-
deemed, pad and cancelled by said
rity in an amount aggregating $685.
600, thereby leaving bonds of said
issue outstanding and unpaid in a
sum aggregating s12, 900; 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
:, 1916, payable at the option of said
city; and
Whereas, on March TO- 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 sum aggregat!ng $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, al 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 !, 1918, said city
issued its certain other general OBJ
legation bonds known as FIRE PRO
TECTION 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
sum aggreGating $4,000; and
Whereas, under and pursuant to
the provisions of the charter of said
city and TIE 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 $50 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 (5qo) per annum; and
Whereas, the Council deems II for
the best interest OF the city to pro-
vide by charter amendment for the
issue and sale of REFUNDING
BONDS of said city in 4 sum not to
exceed S43,5O0 (Which with the sink
ing funds now on hand will be amply
sufficient for the purpose of provid-
ing funds for the redemption of the
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-