Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1917-12-13

the mayor ana recOruer, WHEREBY tno
city shall be held in substance and
effect TO undertake and promise to
pay the bearer of each of said bonds,
at maturity thereof, the sum named
therein, in gold coin of the United
States of America, with interest
thereon in like gold coin, at the rate
to be therein specified not exceeding
five and one-half (5h9o) per cent
per annum, payable semi-annually,
each Of said bonds to be a direct gem
eral Obligation of the City of Ash
land. and to be known as City of Ash
land Refunding Bonds, provided,
however, that the aggregate amount
of bonds issued under the provisions
of this section shall not exceed the
sum of $56,500. Said bonds shall be
dated at a convenient time, to be
fixed by the Council, the maturity or
maturities to be likewise fixed
Ivy the Council, but not to ex-
ceed twenty (20) years, from date,
and the principal and interest of said
bonds to be payable at the office Of
the City Treasurer OF Ashland, Ore
gon, or at the Fiscal Agency of the
State of Oregon, in the City of New
York, at the option of the purchaser.
Section 2. The bonds hereby au-
thorized shall be sold by the Council
as in its judgment may be best, but
for not less than par and accrued in
terest, and the funds derived from
the sale thereof shall be deposited
with the Treasurer of said city to be
by him kept in a fund to be known as
the Bond Redemption Fund" and
to be by him applied, together with
so much as may be necessary of the
sinking funds now on hand for said
purposes, to the refunding and re-
demption Of such of the aforesaid
bonds, contracts and obligations as
are now payable at the option of said
city. Provided, however, that 1t shall
be the duty of the City Treasurer to
see to the proper application of the
funds derived from the sale of said
bonds, and the purchaser or purchas-
ers thereof shall in no event be re-
sponsible or charged with the proper
application of the funds derived from
the sale thereof; and provided, also,
that the debt limitations contained
in the charter of said city shall not
apply TO the bonds hereby authorized.
Section 3. The Council shall each
year, at the time Of making the an
nual tax levy for city purposes, in
clude in such levy sum sufficient to
pay interest due on the outstanding
bonds of this issue and 10 retire the
principal amount thereof at maturity
Resolved. further, that this resolu-
tion for proposed charter amendment
submitted to the voters by the Coun-
Gil be filed with the recorder OF the
City of Ashland, upon its approval by
the mayor for submission to the legal
voters of the said city, for their re-
lection or approval, TO be voted upon
at a special election which shall be
and hereby IS called to be held on the
18th day of December, 1917, between
the legal voting hours Of said date,
and that said time be and the same
is hereby designated as the time for
holding said special election, and the
| judges and clerks of the general elec-
tion, to be held on said 18th day OF
December, are hereby named and des-
! ignated as the judges and clerks of
this special election, and that the
polling places for said special election
are hereby fixed and designated to
be the same as for the said general
election.
Be it further resolved, that the re-
corder of the City of Ashland, Ore
gon, shall forthwith provide ballot
title for such proposed measure to he
voted upon at said election, as by law
provided.
Be it further resolved, that the said
recorder be, and he is hereby in
structed and required to publish the
hereinabove proposed charter amend
ment submitted to the voters by the
Council in the manner required by
law, that is to say, by publication of
this resolution in full, together witk
the ballot title, in a newspaper pub
lished in the City of Ashland. for two
consecutive publications in said
newspaper, within ten days immedi-
ately preceding said special election
Passed by the Common Council of
the City of Ashland, Oregon, under
suspension of the rules, on the 4th
day of December, 1917, by the fol-
lowing vote:
Yeas Root, Lamb, Nininger Cald-
well, Shinn.
Nays-Banta.
Submitted to the mayor on the 4th
day of December, 1917.
Approved by the mayor on the 4th
day of December, 1917.
c. b. LAMKIN, Mayor. 4,
Attest JOHN B. WIMER,
Recorder.
Now, therefore. in compliance with
said resolution, notice is hereby CIV
en- that a special election will be held
in the City of Ashland, Oregon. on
the Sth day of December, 1917, be-
tween the regular voting hours on
said date, at which election there will
be submitted to the voters of said
city, for their adoption or rejection,
a certain proposed charter amend
-