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ORDINANCE NO. I, ~7~-~, <br />AN ORDINANCE AUTHORIZING THE CITY OF EUGENE, <br />ACTING BY AND THROUGH THE EUGENE WATER & <br />ELECTRIC BOARD, TO ISSUE UP To $~~,OOQ,000 <br />AGGREGATE PRINCIPAL AMOUNT OF REVENUE BANDS OR <br />OTHER EVIDENCES OF INDEBTEDNESS OF THE CITY, <br />PAYABLE SOLELY FRAM NET REVENUES OR ANY <br />PORTION THEREOF OF THE ELECTRIC UTILITY SYSTEM <br />of THE CITY, FOR THE PURPOSE OF FINANCING <br />CERTAIN IMPROVEMENTS To THE ELECTRIC UTILITY <br />SYSTEM; AND PROVIDING FOR AN EFFECTIVE DATE. <br />The City Council of the City of Eugene finds that: <br />A. The Eugene Water & Electric Board has by resolution <br />requested the City Council to authorize issuance of $22,000,000 <br />aggregate principal amount of revenue bonds or other evidences of <br />indebtedness to finance improvements to the Electric Utility <br />System. <br />B. The bond proceeds are needed to finance hydroelectric and <br />steam generation facility improvements; electric and steam <br />transmission and distribution system improvements; and substation <br />improvements and additions. Now, therefore, <br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br />Section 1. Authorization of Electric Utilit S stem Revenue <br />Bonds, The City of Eugene, Oregon acting by and through the Eugene <br />Water & Electric Board, is hereby authorized to borrow money and <br />issue revenue bonds or other evidences of indebtedness payable <br />solely from the net revenues or any portion thereof of the Electric <br />Utility System of the City at one time or from time to time, in an <br />amount not to exceed in the aggregate $22,000,000 for the purpose <br />of financing certain improvements to the Electric Utility System <br />Ordinance - 1 <br />