Resolution No. 4394 - Laserfiche WebLink

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discretion, and to the extent permitted by law, to provide in connection with the authorization of any issue of such bonds, that such bonds and the interest thereon may be payable, collectible or registerable at any place or places within or without the State of Oregon; that such bonds may be redeemable, either at the option of the Board, or by the operation of any sinking fund provided for the issue, at such time or times and at such price or prices as the Board may determine, whether or not involving a premium over the principal amount .of such bonds, provided, however, that any such premium shall not exceed ' four percent (4 %) of the principal amount of bonds to be redeemed; for the appointment of such fiscal or paying agents, registrars, trustees, or other agencies, for any such issue of bonds, as the Board may determine, for the benefit and protection of the holders of such bonds; for the deposit of funds including bond proceeds with such agents or trustees for any lawful purpose for which such funds may be deposited; for the manner - of disbursement of, and accounting for, bond proceeds; for. the rights and remedies of the holders of such bonds; for the establishing and maintaining of special funds or accounts to insure the payment when due and payment of the principal of and interest on such bonds and for other purposes, from proceeds of the sale of bonds or revenues of the Electric Utility System or other monies lawfully available and pledged to the payment of such bonds and the interest thereon, and for the investment and reinvestment of monies or obligations in such . special funds; and to covenant with, and for the benefit of, the holders from time to time of such -bonds as the Board may determine. (g) The Eugene water & Electric Board shall, by resolution, determine the amount or amounts required far .the purposes for which the monies are borrowed at any particular time or times, and shall also 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 such 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. (h) The bonds or other evidence of indebtedness shall not be sold until the following actions have taken place: (1) Legal opinions have been rendered by bond counsel for the Eugene Water &Electric Board that the bonds are duly and legally authorized and do not constitute general obligations of the City of Eugene and qualify for tax exempt status. (2) General counsel for the City of Eugene has reviewed all resolutions of the Eugene water & Electric Board enacted pursuant to this Resolution and has determined that such resolutions do not conflict with the terms and conditions prescribed by this Resolution. Section 2. Provisions for Issuance and Sale of Notes (a) In anticipation of the issuance and sale of the bonds approved by the electors of the City of Eugene, Oregon on May 18 1993, the Eugene water & Electric Board is authorized to provide for the issuance and sale N327 Resolution -3- 11auvu1lbonds\smc=1- 11/12f93