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<br />RESOLUTION NO. 4782 <br /> <br />A RESOLUTION AMENDING RESOLUTION NO. 4692 IN <br />ORDER TO AUTHORIZE EWEB TO UTILIZE A LINE OF <br />CREDIT AS ONE OF THE FORMS OF INDEBTEDNESS <br />AUTHORIZED BY RESOLUTION NO. 4692 <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. On October 22,2001, the City Council adopted Resolution No. 4692 authorizing <br />EWEB to issue not to exceed $60,000,000 of principal amount of indebtedness. Pursuant to <br />Resolution No. 4692, EWEB has issued bonds or other evidence of indebtedness totaling <br />$30,000,000, leaving $30,000,000 of authorized but unissued debt remaining under Resolution <br />No. 4692. <br /> <br />B. EWEB has requested that the City Council adopt this Resolution to include a line <br />of credit as one form of indebtedness that EWEB may issue under the authority of Resolution <br />No. 4692. <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. Based on the above findings, Resolution No. 4692 is amended to authorize <br />EWEB, on behalf of the City, to enter into a line of credit as one type of indebtedness authorized <br />under Resolution 4692. Resolution 4692 is hereby further amended to add the additional <br />condition that the bonds or other evidence of indebtedness, including a line of credit, shall have <br />an effective interest rate of not to exceed nine percent (9%) per annum. These amendments are <br />subject to the other unamended terms and conditions prescribed by Resolution No. 4692. <br /> <br />Section 2. Except as explicitly amended by this Resolution, Resolution No. 4692 <br />shall remain in full force and effect. <br /> <br />Section 3. <br /> <br />This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted the 12th day of January, 2004. <br /> <br />ll~~ <br />City Reco der <br />