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ADMINISTRATIVE ORDER NO. 53-16-02-F <br />of the <br />City Manager <br />AMENDMENT OF THE HISTORIC LOAN PROGRAM GUIDELINES <br />ADOPTED BY RESOLUTION NO. 4895. <br />The City Manager of the City of Eugene finds that: <br />A. Section 2.019 of the Eugene Code, 1971, ("EC") authorizes the City Manager to <br />adopt rules for administration of provisions of the Eugene Code. <br />B. On November 27, 2006, the Eugene City Council passed Resolution No. 4895 <br />adopting amended Historic Loan Program (HLP) Guidelines (the Guidelines). Section 2 of <br />Resolution No. 4895 directed that future amendments to the Guidelines be effected by the City <br />Manager in accordance with the provisions of Section 2.019 of the Eugene Code, 1971 <br />C. On February 24, 2016, Administrative Order No. 53-16-02 was issued proposing <br />to amend the Guidelines because the Oregon Bond 30 -year rate no longer exists and, therefore, the <br />Guidelines needed to be amended to indicate that the Oregon Bond 20 -year rate will be used <br />instead. <br />D. Notice of the proposed amendment was published in the Register Guard newspaper <br />on March 14, 15, 16, 17 and 18, 2016, and made available to any person who had requested such <br />notice. The Notice provided that written comments would be received for a period of 15 days <br />from the first publication date. No comments were received within the time or in the manner <br />provided in the Notice. <br />BASED ON the above findings, and the findings in Administrative Order No. 53-16-02, <br />the "Rate" paragraph under the "Program Terms" section of the Guidelines adopted by Resolution <br />No. 4895 is amended as follows: <br />Historic Loan Program Guidelines <br />PROGRAM TERMS <br />The following terms of the HLP are intended to provide additional flexibility over conventional <br />lending programs to and adapt to the changing needs of historic property owners. Therefore, the <br />City manager or his/her designee has the authority and discretion to alter, amend, waive, or <br />otherwise make an exception to any of the following terms: <br />Rate <br />The interest rate is fixed for the term of the loan at two points below the Oregon Bond <br />20 -year rate. The interest rate for each loan is set at the time of closing. <br />Dated and effective this 7tb� day of , 2016. <br />Jon R. Ruiz <br />City Manager <br />Administrative Order - Page 1 of 1 hM <br />