Resolution No. 4692 - Laserfiche WebLink

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(B) that the holders thereof may look for repayment only to the Pledged Funds (as defined by the EWEB Resolution) and may not directly or indirectly be paid or compensated through the property of the City, or the Board, or by or through the taxing power of the City; (3) The Bond shall have a final maturity date not later than seven (7) years after its original date of issuance; (4) At any time prior to the sale of any participation in the Bond or an indebtedness becoming outstanding thereunder, the Board shall cause to be prepared a plan showing that the estimated net revenues which will be pledged or designated are sufficient to pay the estimated debt incurred under the Bond issue; and (5) To the extent consistent with the EWEB Resolution, the Board shall determine that any and all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of the Bonds exist, have happened and have been performed in due time, form and manner as required by the Constitution and statutes of the State of Oregon and the Charter of the City of Eugene. Section 2. Provisions for Sale of Bonds at Private Negotiated Sale. The Bonds and any interest therein are authorized to be sold at a private negotiated sale based upon a written recommendation of EWEB' s independent financial advisor to be provided at the initial sale of the Bonds, provided that the financial advisor makes such written evaluation of the terms and conditions of the sale, the pricing thereof and any other relevant aspects of the sale pursuant to ORS 288.845. Section 3. Reporting. The Board shall submit to the City by May 1 of each year the following annual reports commencing after the first sale of Bonds or any interest therein under or pursuant to the EWEB Resolution and each year thereafter until the Bonds have been paid and retired: (a) a report on the funds established pursuant to the EWEB Resolution describing the funds established, the amounts in each fund, expenditure from each fund, the manner in which the monies in each fund have been invested, the income from such investments and the application of such income; and (b) a report on payments describing amounts paid and amounts scheduled to be paid and the source of such payments. If the contents of the reports required by subsections (a) and (b) above are included in the Board's yearly audit report, the Board may comply with this section by transmitting a copy of its yearly audit report to the City. Section 4. Appointment of Professionals. The Authorized Representatives are authorized, jointly and severally, to appoint bond counsel and other professionals with respect to the issuance and sale of the Bonds and any interest therein.