The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1922-10-27


NOTICE OF SPECIAL ELECTION
TO BE HELD AT THE SAME TIME
AS THE GENERAL ELECTION.
Notice is hereby given that on
Tuesday, the 7th day of November,
1922, an election of the legal electors
of the City of Athena will be held at
City Hall in the City of Athena, be-
tween the hours of eight o'clock A. M.
and eight o'clock P. M. on said day
at which time there will be submitted
to said electors the following meas
ures:
An act to make charter provision
governing the finances of the City of
Athena. and to amend an act of the
legislature of the State Of Oregon,
filed with the Secretary of State jan
uary 9th, 1905, by adding thereto
Article XII, governing finances and
Indebtedness of said City.
Nos. 410-411
ARTICLE XI-FINANCE
Section /. The City of Athena shall
have power
l. To control the finances and
property of the corporation and to
acquire by purchase or otherwise
lands and other property for corpor-
ate uses provided for by the charter
and to dispose of any such property
as the interest of the City may, from
time to time, require.
2. To borrow money for corporate
purposes on the credit of the corpora
tion and to issue negotiable bonds
therefor, upon the conditions and IN
the manner hereinafter provided, but
the said City shall not in any manner
or for any purpose become indebted
to an amount in the aggregate to eX-
ceed ten per centum of the value OF
the taxable property therein, as as
certained by the last assessment for
city purposes previous to the incurr-
ing of such Indebtedness, exclusive Of
Indebtedness incurred for municipality
owned water works, and local i'm
provement bonds.
3. To issue bonds in place of or to
supply the means to meet maturing
bonds or other Indebtedness hereto
for issued or that may hereafter be
incurred, for the purpose of funding
the same. Soy,
Section. 2. Whenever the City Of
Athena, acting by its Council or upon
initiative petition, may deem it nee
essary or expedient to incur indebt-
edness or to borrow money for mum
icipal purposes, the said City shall by
ordinance authorize the issuance of
general obligation municipal bonds.
Such ordinance shall state the amount
proposed to be raised and the purpose
or purposes for which the money
raised is to be expended, and shall
Immediately upon its passage, be re-
ferred to vote of the legal voters
of the City of Athena, upon notice
provided for special elections in said
City, provided that if the bonds to be
issued, together with all outstanding
Indebtedness of the city, exclusive Of
any Indebtedness for municipality
owned water works. and local i'm
provement bonds, shall not exceed two
per centum of the assessed value of
all of the taxable property in the City.
such bonds may be issued and sold
| without any election authorizing the
issuance thereof, upon the passage
and approval of an ordinance author
izing the issuance Of the same.
Section 8. Any bonds heretofore
or hereafter issued by the City of
| Athena and any warrants so issued
for indebtedness which shall thereto
fore have been approved by the, legal
voters of the City of Athena, may be
refunded in the discretion of the City
Council. whenever there is not suf-
| ficient money in the Treasury in the
bond redemption fund or otherwise
provided for that purpose, to pay
such bonds, warrants or Indebtedness
and legally applicable thereto.
| Section 4. Any bonds authorized
by the City shall he in denomination
of not less than One Hundred (S100.-
00) Dollars nor more than One Thou
sand ($1000.00) Dollars; shall be
numbered from one up consecutively;
shall bear the date of their issue;
shall be payable not more than twen-
ty-five years from date, and shall
bear interest at not more than six
per cent per annum, payable semi
annually, and the principal and in
terest shall be payable at such place
as may be designated. The bonds
shall be signed by the Mayor and at
tested bv the Recorder and the Seal
of the City shall be thereto attached
If coupon bonds. the coupons shall be
signed by the Mayor and attested by
the Recorder, either by manual OF
fac-simile signature.
Section 5. Any bonds authorized
to be issued by the vote of majori-
ty of the legal voters of the CITY of
Athena, or otherwise authorized un.
der the provision of this Article, shall
be printed. engraved or Autographed
on good bond paper. and shall be in
such form as may be prescribed by
the. City Council bv resolution or or.
dinance. and shall be sold in such
manner as shall be deemed advisable