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<br />RESOLUTION NO. 4936
<br />
<br />A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC
<br />UTILITY SYSTEM REVENUE REFUNDING BONDS IN THE AGGREGATE
<br />PRINCIPAL AMOUNT OF NOT TO EXCEED FORTY-SIX MILLION
<br />DOLLARS ($46,000,000) FOR THE PURPOSES OF REFINANCING
<br />IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM AND PROVIDING
<br />FOR RELATED MATTERS
<br />
<br />The City Council of the City of Eugene finds that:
<br />
<br />A. ~46 of Chapter 783 Oregon Laws 2007 (containing provisions correlative to those
<br />repealed by Chapter 783, including those previously known as the Uniform Revenue
<br />Bond Act ("URBA")), authorizes the City to issue bonds payable solely from revenues
<br />generated by facilities, projects, utilities or systems owned or operated by the City. The
<br />City, acting by and through the Eugene Water & Electric Board ("EWEB"), owns and
<br />operates an electric utility system and related facilities and systems.
<br />
<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 />
<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 />
<br />D. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to
<br />$150,000,000 of electric utility system revenue bonds. Subsequently, the City Council
<br />adopted Resolution No. 4555 authorizing the issuance of electric utility system revenue
<br />bonds. Pursuant to that authorization, the City, acting by and through EWEB, issued the
<br />City of Eugene, Oregon, Electric Utility System Revenue Bonds, Series 1998 (the "1998
<br />Bonds"), which 1998 Bonds will be outstanding in the principal amount of $32,210,000
<br />as of August 1,2008.
<br />
<br />E. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to
<br />$150,000,000 of electric utility system revenue bonds. Subsequently, the City Council
<br />adopted Resolution No. 4571 authorizing the issuance of electric utility system revenue
<br />bonds. Pursuant to that authorization, the City, acting by and through EWEB, issued the
<br />City of Eugene, Oregon, Electric Utility System Revenue Bonds, Series 1998A (Taxable)
<br />(the "Taxable 1998A Bonds"), which Taxable 1998A Bonds will be outstanding in the
<br />principal amount of$9,565,000 as of August 1, 2008.
<br />
<br />Resolution - 1
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