Resolution No. 5162 - Laserfiche WebLink

Home Browse Search

Section 5. Refunding Bonds Payable Solely from Revenues. The Refunding Bonds shall not be general obligations of the City, nor a charge upon its tax revenues, but shall be payable solely from the revenues and funds which EWEB pledges to the payment thereof pursuant to the Act, any applicable authorizations and in accordance with this Resolution. Section 6. Refunding Bonds Reporting. EWEB shall submit to the City by May 1 of each year the following annual reports commencing after the first sale of any Refunding Bonds or other evidences of indebtedness hereunder and each year thereafter until the Refunding Bonds have been paid and retired: (a)A report on the funds for each series of Refunding Bonds describing the funds established, the amounts in each fund, expenditure from each fund, the manner in which the monies in each fund have been invested, the income from such investments and the application of such income; and (b)A report on Bond payments describing amounts paid and amounts scheduled to be paid and the source of such payments. If the contents of the reports required by subsections (a) and (b) above are included in the yearly audit report of EWEB, then EWEB may comply with this Section 6 by transmitting a copy of its yearly audit report to the City. Section 7. Appointment of Professionals. EWEB is authorized to appoint bond counsel, disclosure counsel, financial advisor, underwriter in the case of a negotiated sale, trustees, registrars, paying agents, escrow agents, verification agents and any other professional assistance that EWEB determines is necessary or convenient to accomplish the issuance and sale of any or all of the Refunding Bonds. Section 8. Advance Refunding Plan. EWEB is authorized to submit a preliminary and final advance refunding plan to the Oregon State Treasurer for approval pursuant to ORS 287A.370 and 287A.375. Section 9. Official Statement; Sale Documents. EWEB or any party designated by EWEB is authorized to prepare and distribute or direct the preparation and distribution of one or more preliminary or final official statement(s) or other disclosure document(s) for any of the Refunding Bonds, and to enter into continuing disclosure agreements for any of the Refunding Bonds in accordance with Rule 15c2-12 of the United States Securities and Exchange Commission. However, any continuing disclosure agreement for the Refunding Bonds, or any similar agreement for any other borrowing by EWEB, shall obligate only EWEB and not the City of Eugene, and the City of Eugene shall have no obligation to comply with any of those agreements, or to r party. EWEB or any party designated by EWEB is also authorized in connection with a preliminary or final official statement or other disclosure document for any other bonds, as determined to be necessary by EWEB, to obtain bond insurance or other credit enhancement or commitments therefor, to obtain a rating on any or all of the Refunding Bonds publish such notices of sale of the Refunding Bonds or execute such purchase contracts as may be necessary 5