Resolution No. 5139 - Laserfiche WebLink

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RESOLUTION NO. 5139 A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF WATERUTILITY SYSTEM REVENUE BONDSFOR THE PURPOSE OF FINANCING IMPROVEMENTS TO THE WATER UTILITYSYSTEM IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $18,000,000 AND THE ISSUANCE AND SALE OF WATER UTILITY REVENUE REFUNDING BONDS IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED$35,000,000 TO REFUNDALL OR A PORTION OF THE SERIES 2002 BONDS, SERIES 2005 BONDS ANDSERIES 2008 BONDS; AND PROVIDING FOR RELATED MATTERS The City Council of the City of Eugene finds that: A. Oregon Revised Statutes (“ORS”) Section287A.150,authorizes the City of Eugene (the “City”) to issue revenue bondspayable from identified revenues of the City.The City, acting by and through the Eugene Water & Electric Board (“EWEB”), owns and operates a water utility system andrelated facilities and systems. B. On September 2, 1997, EWEB adopted a resolution authorizing and providing for the issuance, from time to time, of City of Eugene, Oregon WaterUtility System Revenue Bonds to be equally and ratably secured by the pledge of revenues, funds and accounts thereunder (as amended and supplemented, the “Bond Resolution”). C. The Bond Resolution provides in part that the principal of, premium, if any, and interest on the bonds issued thereunder shall not be payable from any funds of the City nor constitute a general obligation of the City or create a charge upon the tax revenues or any other property or revenues of the City. D. EWEB has requested by resolution that the City Council adopt this Resolution in part to set the terms for the issuance of not to exceed $18,000,000in aggregate principal amount of waterutility system revenue bonds (the “New Money Bonds”) for the purpose of financing the acquisition, design, construction, installation and equipping of certain capital improvementsto the water utility purification, storage, transmission and distribution systems (collectively, the “New Money Project”), to fund necessaryreserves and capitalized interest,and to pay the costs of issuance of Bonds. E. The City, acting by and though EWEB, previously issued its Water Utility System Revenue Bonds, Series 2002 in original principal amount of $10,000,000 (the “Series 2002 Bonds”); F. The outstanding Series 2002 Bonds maturing on and after August 1, 2013,are subject to redemption at the option of EWEB on and after August 1, 2012; G. TheCity, acting by and though EWEB, previously issued its Water Utility System Revenue Bonds, Series 2005 in original principal amount of $12,540,000 (the “Series 2005 Bonds”); Resolution -Page 1of 6