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<br />NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, as follows: <br /> <br />Section 1. Authorization of Refunding Bonds. Based on the above findings, which are adopted <br />herein, there are hereby authorized to be issued not to exceed Thirty-Five Million Dollars ($35,000,000) <br />in aggregate principal amount of Electric Utility System Revenue Refunding Bonds, Series 1998, for the <br />purpose of refunding in advance of maturity the Refunded Bonds. The terms and conditions of the Bonds <br />and the sale, refunding and redemption thereof shall be in accordance with the provisions of the <br />authorizing Resolution, or any supplemental resolution and ORS 288.605 to ORS 288.695. The Refunded <br />Bonds shall be redeemed on August 1, 2004, the first date on which the Refunded Bonds are subject to <br />redemption, and such date fixed for redemption shall be irrevocable after delivery of the Refunding Bonds <br />to the initial purchasers thereof. <br /> <br />The foregoing Resolution adopted the 2nd day of February, 1998. <br /> <br />~~r~ <br /> <br />Resolution - 2 <br /> <br />CWC\cwc7665C.res <br />