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<br />12.3. The City shall operate the facilities financed with the Bonds, and use the proceeds <br />of the Bonds, so that the Bonds are not "private activity bonds" within the meaning of <br />Section 141 of the Code. <br /> <br />Section 13. Reduction of Reserves. <br /> <br />The City Manager or the designee of the City Manager (the "City Official") without further <br />action by the City Council, may reduce the reserves for the City's Special Assessment Bonds, <br />1994 Series J, 1995 Series M and 1996 Series P, and enter into any agreements and execute any <br />documents which are required to effect that reduction. <br /> <br />II.-~ ADOPTED by the City Council of the City.ofEugene, Lane County, Oregon on the <br />.zr day of ~ ~ 1997. <br /> <br />City of Eugene <br />Lane County, Oregon <br /> <br />fl ~ e-- <br /> <br />City Recorder <br /> <br />" 117/ <br /> <br />Page 8 Resolution <br /> <br />J:\HWR\CITIES\EUGENE\GENERAL\SABURES.DOC <br />