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<br />RESOLUTION NO. 4936 <br /> <br />A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC <br />UTILITY SYSTEM REVENUE REFUNDING BONDS IN THE AGGREGATE <br />PRINCIPAL AMOUNT OF NOT TO EXCEED FORTY-SIX MILLION <br />DOLLARS ($46,000,000) FOR THE PURPOSES OF REFINANCING <br />IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM AND PROVIDING <br />FOR RELATED MATTERS <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. ~46 of Chapter 783 Oregon Laws 2007 (containing provisions correlative to those <br />repealed by Chapter 783, including those previously known as the Uniform Revenue <br />Bond Act ("URBA")), authorizes the City to issue bonds payable solely from revenues <br />generated by facilities, projects, utilities or systems owned or operated by the City. The <br />City, acting by and through the Eugene Water & Electric Board ("EWEB"), owns and <br />operates an electric utility system and related facilities and systems. <br /> <br />B. On June 16, 1986, EWEB adopted a resolution authorizing and providing for the <br />issuance, from time to time, of City of Eugene, Oregon Electric Utility System Revenue <br />Bonds to be equally and ratably secured by the pledge of revenues, funds and accounts <br />thereunder (as amended and supplemented, the "Bond Resolution"). <br /> <br />C. The Bond Resolution provides in part that the principal of, premium, if any, and interest <br />on the bonds issued thereunder shall not be payable from any funds of the City nor <br />constitute a general obligation of the City or create a charge upon the tax revenues or any <br />other property or revenues of the City. <br /> <br />D. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to <br />$150,000,000 of electric utility system revenue bonds. Subsequently, the City Council <br />adopted Resolution No. 4555 authorizing the issuance of electric utility system revenue <br />bonds. Pursuant to that authorization, the City, acting by and through EWEB, issued the <br />City of Eugene, Oregon, Electric Utility System Revenue Bonds, Series 1998 (the "1998 <br />Bonds"), which 1998 Bonds will be outstanding in the principal amount of $32,210,000 <br />as of August 1,2008. <br /> <br />E. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to <br />$150,000,000 of electric utility system revenue bonds. Subsequently, the City Council <br />adopted Resolution No. 4571 authorizing the issuance of electric utility system revenue <br />bonds. Pursuant to that authorization, the City, acting by and through EWEB, issued the <br />City of Eugene, Oregon, Electric Utility System Revenue Bonds, Series 1998A (Taxable) <br />(the "Taxable 1998A Bonds"), which Taxable 1998A Bonds will be outstanding in the <br />principal amount of$9,565,000 as of August 1, 2008. <br /> <br />Resolution - 1 <br />