The evening herald. (Klamath Falls, Or.) 1906-1942, 1916-10-25

E16 nv 6N4
said charter az originally enacted BY
addlng thereto a further subdiyisloi,
to be No. n, the said subdivlelon
No. II, OF Section 81, Article ~. 81
the charter ~ said city 10 be II words
and fgaies as follows:
~. The Common Council In
l9reby grnnted the power for and on
lellsli Of the city to buy. build. equip.
ACQUIRE, lease. own, operate and
maintain railways and railroads op~
Grated by steam, electric or other
power. within or within and without
the boundaries Of the city, for the
benefit and use Of the inhabitants
thereof, and for profit, said railroad
or railroads TO run within or within
ana Without said city or from the
city 10 other towns, cities or points
Without the boundaries Of the city,
and To acquire rights-of-way, termi-
n',a. easements and real property
Within and without It's boundaries.
ana 10 exercise any one or more OF
said powers. and to borrow money
aud fund indebtedness to carry out
any one or more OF said powers by
Issuing and selling, nj public or pri-
vnie sale. with or without advertis-
Ing such sale. the negotiable war
rants or bonds Of the city In an
amount not exceeding the principal
sum OF three hundred thousand dol
lars t$300.000) for railroads, rights
cf-wry. terminals, easements or real
property for any guch railroad or
railway, said warrants or bonds bear
Ing interest at not more than six per
centum C. per centum) per annum,
PAYABLE semi-annually. Prior to the
authorization or sale thereof, the
council. by ordinance, shall prescribe.
fix end determine the form OF such
warrants or bonds, as the case may
be. their date. denomination. the
date or dates OF maturity Of such
warrants or bonds not exceeding fifty
years. the rate Of interest, place Of
payment. and tfe principal use or
uses to which the proceeds derived
therefrom shall be applied, and shall
levy and assess on all the taxable
, property OF the city. In addition TO Gil
other taxes provided by law and the
/ charter Of the city. direct annual
nd valorem tax, and thereafter cause
the same 10 be collected, sunicien: ia
create fund 10 pay the interest ac-
ctuing on said warrants or bonds
rOmptly when and as the same be-
comes due. and to establish and main.
rain o sinking fund with which. tu
discharge the principal thereof at ma
tur,ty, which ordinance shall, upon
delivery OF tho warrants or bonds Ia
the party entitled thereto, be there
after irrepealable. and the classo3
kinds or amount OF property subject
TO tax or the method or manner al
levy, assessment or collection oi
taxes thereon. as provided BY law
and the charter Of the city. at thu
tjmo OF the passage and approval 0f
such ordinance, shall not be changed
IN any manner SO as to reduce or di.
ininish the security for such wnr.
rants or bonds or any OF them o.
lcssen the power, authority or ability
Of the city To raise funds suiiiclent "a
pay The interest on said warrants ~
bends promptly when and rs thf
same becomes due. and to discharge
the principal thereof ut maturity
Said council shall also require the
collection OF such taxes by the proper
city aud county officials authorized
ty Law to make .shch collection. and
| tie tsxcs SO levied. assessed tnd col.
iucted shall be kept In a separats
fund. and said fund shall be ussd
solely In the payment of the prlnci.
IEal end interest OF said bomb ul
warrants, and said principal and In
ltcsest shall be paid out OF said fund
NJ the time or times provided accord
Ing 70 law and the tenor of said pond!
or warrants and coupons attacked
| thereto. Warrants issued under tbs
provisions OF this section shall b
drawn on the general fund and duo
pi oyision made. by the council. fol
their payment through funds obtained
from the levy and collection Of taxei
on all the taxable property Of the cit!
or from the sale of a sufficien,
o mount OF fun.iing bonds OF the ci.y
| which the council is hereby author
lied and empowered to issue. negO
tlaie and make provision for tLeil
Layment. as and in the manner prO
( yiied In this section for muntcipa
boads. All bonds and warrants O
the city when oeliveretl to the pur
chaser shall thereafter be inc'ntest
! able. and their legality shall hpI b
open to contest by any person or per
| sons. corporation or corporations. Rs
scctaticn or associations. or by ~
city, for any reason or reasons what
ever.
The council Is hereby authorises
and empowered, for and ON behsF
OF the city. to bring actions for tn
condemnation or taking OF private
property within and without tn
boundaries Of the city for public us'
In the same manner ~ private cor
porations ale now authorised or per
mitted TO do under the laws OF tn
istste.
In the event of the refusal. neglec
OF .a.iure Oh the city or said council
- .n,, ~. a,l ~ tho nfl1elala Of thi