Resolution No. 4394
City of Eugene
pre 1996 Resolutions
Resolution No. 4394
4/2/2012 10:49:26 AM
4/19/2010 5:24:36 PM
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RESOLUTION NO. t.3c, <br />A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE <br />CITY OF EUGENE, ACTING BY AND THROUGH THE EUGENE <br />WATER & ELECTRIC BOARD, OF NOT ExCEEDING TWENTY -SEVEN <br />MULLION DOLLARS ($27,000,000) AGGREGATE PRINCIPAL AMOUNT <br />OF REVENUE BONDS OR OTHER EVIDENCES OF INDEBTEDNESS , OF <br />SAID CITY, PAYABLE SOLELY FROM NET REVENUES OR ANY <br />PORTION F OF THE ELECTRIC UTILITY SYSTEM OF SAID <br />CITY, OR FROM ANY OTHER MONIES LA LY AVAILABLE <br />THEREFOR, FOR THE PURPOSE OF FINANCING IMPROVEMEWTS TO <br />THE ELECTRIC UTILITY SYSTEM; AND PROVIDING FOR CERTAIN <br />OTHER MATTERS IN CONNECTION THERE ITH. <br />The City Council of the City of Eugene finds that: <br />(a) The electors of the City of Eugene, Oregon (the - "City ") approved at an election <br />duly held on May 18, 1993, Resolution No. 4360 adopted by the City Council on February 17, <br />1993, authorizing the City, acting by and through the Eugene Water & Electric Board, to issue <br />up to One Hundred Fifty Million Dollars ($150,000,000) aggregate principal amount of revenue <br />bonds or other evidences of indebtedness of the City, payable solely from the net revenues or <br />any portion thereof of the Electric Utility System of the City, or from any other monies lawfully <br />available therefor, for the purpose of financing improvements to the Electric Utility System.; and <br />(b I Section 2 of Resolution No. 4360 requires that all terms and conditions of the <br />bonds or other evidences of indebtedness, and the terms upon which. the same may be sold, shall <br />be prescribed by 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. The terms and <br />conditions of such bonds or other evidences of indebtedness in an aggregate principal amount <br />of not to exceed twenty -seven million dollars ($27,000,000) and the terms upon which the same <br />may be sold shall be as set forth in this Resolution; provided, however, that the Eugene water & <br />Electric Board is hereby- authorized to prescribe by resolution all such terms and conditions in <br />addition to and not in conflict with those set forth herein. The terms and conditions prescribed <br />by this Resolution are as follows: <br />(a) The bonds or other evidences of indebtedness shall not be sold at a price <br />less than ninety -six percent (96 %) of the par amount thereof, shall mature not later than <br />thirty (30) years from the date thereof and shall bear interest at such rate or rates per <br />annum not exceeding thirteen percent (13 %) per annum. <br />29327 <br />Resolution -1- \kar d\banslsnw=k 11/12M <br />
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