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RESOLUTION NO. 5026 <br />A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC <br />UTILITY SYSTEM REVENUE BONDS FOR THE PURPOSE OF FINANCING <br />IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM IN THE AGGREGATE <br />PRINCIPAL AMOUNT OF NOT TO EXCEED THIRTY SIX MILLION DOLLARS <br />($36,000,000); AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC UTILITY <br />REVENUE REFUNDING BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF <br />NOT TO EXCEED FORTY SIX MILLION EIGHT HUNDRED THOUSAND DOLLARS <br />($46,800,000) TO REFUND SERIES 1998A TAXABLE BONDS AND SERIES 2001B <br />BONDS; AND PROVIDING FOR RELATED MATTERS <br />The City Council of the City of Eugene finds that: <br />A, Oregon Revised Statutes ( "ORS ") Section 287A.150 and 287A.360 authorizes the City of <br />Eugene, Oregon (the "City ") to issue revenue bonds and revenue refunding bonds <br />payable from identified revenues of the City. The City, acting by and through the Eugene <br />Water & Electric Board ( "EWEB "), owns and operates an electric - utility system and. <br />related facilities and systems. <br />B, On. June 16, 1986, EWEB adopted.. a resolution authorizing and providing for the <br />issuance, from time to time, of City of Eugene, Oregon Electric Utility System Revenue <br />Bonds to be equally and ratably secured by the pledge of . revenues, funds and accounts <br />thereunder (as amended and supplemented, the "Bond Resolution"), . . <br />C. The Bond Resolution provides in part that the principal of, premium, if any, and interest <br />on the bonds issued thereunder shall not be payable from any funds of the City nor <br />constitute a general obligation of the City or create a charge upon the tax revenues or any <br />other property or- revenues of the City. <br />D. EWEB has requested by resolution that the City Council adopt this Resolution -in part to <br />set the terms for and authorize the issuance of not to exceed $36,000,000 in aggregate <br />principal amount of electric utility system revenue bonds (the "New Money Bonds ") for <br />the purpose of financing the acquisition, design, construction, installation and equipping <br />of certain capital improvements to the electric utility generating, transmission and <br />distribution systems (collectively, the "New Money Project "), to fund necessary reserves <br />and to pay the costs of issuance of New Money Bonds. <br />E. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to <br />$150,000,000 of electric system revenue bonds (the "Election Authorization "). <br />Subsequently, the City Council adopted Resolution No. 4571 authorizing the issuance of <br />electric revenue bonds in an amount not to exceed $15,000,000. Pursuant to -that <br />authorization, the City, acting by and through EWEB, issued the City of Eugene, Oregon <br />Electric Utility System Revenue Bonds, Series 1998A (Federally Taxable) in the <br />