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<br />RESOLUTION NO. 4595 <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF GENERAL <br />OBLIGATION BONDS, SERIES 1999, IN AN AMOUNT NOT TO EXCEED <br />$20,000,000 TO FINANCE THE PURCHASE OF PARKLAND, THE <br />BUILDING OF PARKS AND YOUTH SPORTS FIELDS AND THE <br />REPLACEMENT OF AMAZON POOL. <br /> <br />THE CITY COUNCIL OF THE CITY OF EUGENE, OREGON (THE "CITY") <br />FINDS AS FOLLOWS: <br /> <br />A. The voters of the City of Eugene authorized the City to issue $25,305,000 of <br />general obligation bonds at the general election held on November 3, 1998, to finance the <br />purchase of parkland, the building of parks and youth sports fields and the replacement of <br />Amazon Pool. <br /> <br />B. It is now desirable to issue $20,000,000 of those bonds for the purposes <br />approved by the voters at the November 3, 1998, election. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF EUGENE, a municipal corporation of the State of Oregon, as follows: <br /> <br />Section 1. Authorization. <br /> <br />The City shall issue its General Obligation Bonds, Series 1999 (the "Bonds") for the purposes <br />described in the ballot measure which the voters approved in November of 1998 and to pay costs <br />of issuing the Bonds. The Bonds shall be issued in a principal amount of not more than <br />$20,000,000, shall mature over a period of not more than 20 years, and shall be sold at a true <br />interest cost of not more than seven percent (7.00%) per annum. The City Manager or the person <br />designated in writing by the City Manager to act under this Resolution (the "City Official") may, <br />on behalf of the City and without further action by the City Council: <br /> <br />1.1. participate in the preparation of, authorize the distribution of, and deem final the <br />preliminary and final official statements and any other disclosure documents for the Bonds; <br /> <br />1.2. establish the final principal amount, maturity schedule, interest rates, redemption terms, <br />payment terms and dates, and other terms of the Bonds, and the terms under which the Bonds <br />are offered for sale; <br /> <br />1.3. establish the terms under which the Bonds will be sold, and prepare and publish notices <br />of sale, or summaries, for the Bonds as required by law; <br /> <br />1.4. issue, sell and deliver the Bonds to the successful bidder without further action by the <br />City Council; <br /> <br />Page 1 - Resolution <br />