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<br />RESOLUTION NO. l.f-5"3Cj <br /> <br />A RESOLUTION OF CITY OF EUGENE, LANE COUNTY, OREGON, <br />AUTHORIZING ISSUANCE AND SALE OF GENERAL OBLIGATION AIRPORT <br />REFUNDING BONDS, SERIES 1997. <br /> <br />WHEREAS, the City Council of the City of Eugene (the "City") finds: <br /> <br />A. The City is authorized pursuant to the Constitution and laws of the State of <br />Oregon to issue refunding bonds for its outstanding general obligation bonds. <br /> <br />B. A refunding analysis has been prepared for that portion of the City's outstanding <br />General Obligation Airport Expansion Bonds, Series 1988 (the "Refundable Bonds") which can <br />be refunded to produce debt service savings. <br /> <br />C. Issuing refunding bonds to refund the Refundable Bonds will benefit the City and <br />its taxpayers. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Eugene as <br />follows: <br /> <br />Section 1. Bonds Authorized. <br /> <br />The City shall issue its General Obligation Airport Refunding Bonds, Series 1997 <br />(the "Refunding Bonds"). The Refunding Bonds shall be dated October 1, 1997, shall bear <br />interest, computed on the basis of a 360-day year of twelve 30-day months, payable semiannually <br />on July 1 and January 1 of each year, commencing January 1, 1998. <br /> <br />Section 2. City Official. <br /> <br />2.1. The City Manager or designee (the "City Official") is authorized to: <br /> <br />2.1.1. Assist in the preparation and distribution of the Preliminary Official <br />Statement and the Official Statement to be used in connection with the sale of the Series <br />1997 Bonds, and the inclusion therein of the sections describing the activities and finances <br />of the City, are authorized, approved and confirmed. <br /> <br />2.1.2. Obtain a rating of the Series 1997 Bonds from Moody's Investor Services, <br />Inc., or such other similar credit rating service as they shall determine. <br /> <br />2.1.3. Obtain a policy of insurance, a letter of credit, or any other form of <br />enhancement of credit under the Bonds, to provide further assurance to Bondowners of <br />the payment of the principal and interest on the Bonds, and the payment of the sum or <br /> <br />Page 1 - Resolution <br /> <br />J:\RDR\EUGENE.Cfl\ADV-REF.97\RES.DOC <br />