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<br /> <br /> <br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Adoption of Resolution 4974 Authorizing Electric Utility System Refunding Revenue <br />Bonds in the Aggregate Principal Amount of not to Exceed Forty-Six Million Three <br />Hundred and Fifty-Five Thousand Dollars ($46,355,000) for the Purpose of <br />Financing and Refinancing the Harvest Wind Project and Providing for Related <br />Matters <br /> <br /> <br />Meeting Date: May 11, 2009 Agenda Item Number: 2D <br />Department: Central Services Staff Contact: Sue Cutsogeorge <br />www.eugene-or.gov Contact Telephone Number: 682-5589 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br /> <br />Eugene Water & Electric Board (EWEB) is requesting authority to proceed with the financing of <br />the Harvest Wind Project. The authorization consists of two separate financing resolutions. The <br />first resolution (the previous item, 2C) is for the issuance of an Electric Utility System line of credit <br />agreement in an amount not to exceed, $46,355,000, and the second resolution (this item, 2D) is for <br />the issuance of Electric Utility System, Refunding Revenue Bonds in the amount of $46,355,000 to <br />provide long-term financing for the Harvest Wind Project. <br /> <br /> <br />BACKGROUND <br />See Item 2C for background on this item. <br /> <br /> <br />RELATED CITY POLICIES <br />There are no City policies related to this item. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />The council can approve or not approve this resolution. If the council does not approve the <br />resolution, EWEB would not be able to issue a line of credit to finance the construction of the wind <br />project and EWEB would reassess its involvement in the project. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends approval of the resolution. <br /> <br /> <br /> <br /> <br /> Z:\CMO\2009 Council Agendas\M090511\S0905112D.doc <br /> <br />