Laserfiche WebLink
Bonds are treated as reissued for federal tax purposes and all requirements for the issuance of <br />tax-exempt debt are met with respect to the Reissued 2014 Bonds. <br />F. Under Section 147(f) of the Internal Revenue Code of 1986, as amended, <br />qualified 501(c)(3) bonds, such as the Reissued 2014 Bonds, must be approved by the applicable <br />elected representatives of (i) the governmental unit issuing such bonds (the Authority) and (ii) <br />the governmental unit having jurisdiction over the area in which the Project is located (the City <br />of Eugene, Oregon). <br />G. The principal and interest on the Reissued 2014 Bonds will not constitute a debt <br />of the City of Eugene, Oregon, the City of Medford, Oregon or the Authority, nor shall the <br />Reissued 2014 Bonds be payable from any funds of the City of Eugene, including from a tax of <br />any nature levied upon any property within the City of Eugene nor any other political <br />subdivision of the State of Oregon. The Reissued 2014 Bonds will be payable only from the <br />revenues and resources of the Borrower pledged to the payment of the Reissued 2014 Bonds. <br />H. On March 19, 2020, a notice of public hearing was published in the Register - <br />Guard newspaper. A Hearings Officer conducted a public hearing on Thursday, March 26, 2020 <br />at 9:03 a.m. with respect to the proposed reissuance by the Authority of the Bonds. The <br />Hearings Officer produced a Public Hearing Report setting out the results of the public hearing. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Eugene, a municipal corporation of the State of Oregon, as follows: <br />Section 1. Bonds authorized. The City Council of the City of Eugene hereby <br />approves the authorization and reissuance by The Hospital Facilities Authority of the City of <br />Medford, Oregon of the Bonds in an amount not to exceed $5,000,000. <br />Section 2. Effective Date. This Resolution shall take effect immediately upon <br />adoption. <br />The foregoing Resolution adopted this 13th day of April, 2020. <br />City Recorder -OeP <br />Resolution -- Page 2 of 2 <br />