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RESOLUTION NO, <br />A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE <br />CITY OF EUGENE ■ ACTING BY AND THROUGH THE EUGENE WATER & <br />ELECTRIC BOARD, OF NOT EXCEEDING FIFTY MILLION DOLLARS <br />($ 5 0 , 0 0 0.0 0 0 ) AGGREGATE PRINCIPAL AMOUNT OF REVENUE BONDS <br />OR OTHER EVIDENCES OF INDEBTEDNESS OF SAID CITY ■ PAYABLE <br />SOLELY FROM NET REVENUES OR ANY PORTION THEREOF OF THE <br />ELECTRIC UTILITY SYSTEM OF SAID CITY OR FROM ANY OTHER <br />MONIES LAWFULLY AVAILABLE THEREFOR. FOR THE PURPOSE OF <br />FINANCING IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM; <br />AND PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION <br />THEREWITH. <br />The City Council of the City of Eugene finds that: <br />(a) The electors of the City of Eugene, Oregon (the "City") <br />approved at an election duly held on May 18, 1993, Resolution <br />No. 4360 adopted by the City Council on February 17, 1993, <br />authorizing the City, acting by and through the Eugene Water & <br />Electric Board, to issue up to one Hundred Fifty Million Dollars <br />($150,000,000) aggregate principal amount of revenue bonds or other <br />evidences of indebtedness of the City, payable solely from the net <br />revenues or any portion thereof of the Electric Utility System of <br />the City, or from any other monies lawfully available therefor, for <br />the purpose of financing improvements to the Electric Utility <br />System; and <br />(b) Section 2 of Resolution No. 4360 requires that all terms <br />and conditions of the bonds or other evidences of indebtedness, and <br />the terms upon which the same may be sold, shall be prescribed by <br />Resolution. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY of EUGENE, <br />a Municipal Corporation of the State of Oregon, as follows: <br />Section 1. Provisions for Issuance and Sale.of Bonds. <br />The terms and conditions of such bonds or other evidences of <br />indebtedness in an aggregate principal amount of not to exceed <br />fifty million dollars ($50,000,000) and the terms upon which the <br />same may be sold shall be as set forth in this Resolution; <br />provided, however, that the Eugene Water & Electric Board is hereby <br />authorized to prescribe by resolution all such terms and conditions <br />in addition to and not in conflict with those set forth herein. <br />The terms and conditions prescribed by this Resolution are as <br />follows: <br />(a) The bonds or other evidences of indebtedness shall <br />not be sold at a price less than ninety -six percent (96%) of <br />the par amount thereof, shall mature not later than thirty <br />NY 1 66714.4 015259 REs <br />