Resolution No. 4571 - Laserfiche WebLink

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RESOLUTION NO. Lf57/ A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF EUGENE, ACTING BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD, OF NOT TO EXCEED FIFTEEN MILLION DOLLARS ($15,000,000) AGGREGATE PRINCIPAL AMOUNT OF REVENUE BONDS OR OTHER EVIDENCES OF INDEBTEDNESS OF THE CITY, PAYABLE SOLELY FROM NET REVENUES OR ANY PORTION THEREOF OF THE ELECTRIC UTILITY SYSTEM OF THE CITY, OR FROM ANY OTHER MONIES LAWFULLY AVAILABLE THEREFOR, FOR THE PURPOSE OF FINANCING IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM, INCLUDING FACILITIES FOR THE GENERATION OF ENERGY THROUGH WIND POWER PROJECTS; AND PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH. The City Council of the City of Eugene finds that: (a) The electors of the City of Eugene, Oregon (the "City") approved at an election duly held on May 18, 1993, Resolution No. 4360 adopted by the City Council on February 17, 1993, authorizing the City, acting by and through the Eugene Water & Electric Board (the "Board"), to issue up to One Hundred Fifty Million Dollars ($150,000,000) aggregate principal amount of revenue bonds or other evidences of indebtedness of the City, payable solely from the net revenues or any portion thereof of the Electric Utility System of the City (the "Electric Utility System"), or from any other monies lawfully available therefor, for the purpose of financing improvements to the Electric Utility System, including, but not limited to, facilities for the generation of energy through wind power projects; and (b) The Board has, pursuant to resolutions previously adopted, authorized certain actions with respect to the Foote Creek Rim Wind Energy Project (the "Project"); and (c) The City, acting by and through the Board, now proposes to issue revenue bonds or other evidences of indebtedness in an aggregate principal amount of not to exceed fifteen million dollars ($15,000,000) for the purpose of financing of all or a portion of the Board's costs relating to the Project, the funding of any debt service reserves, and the payment of costs of issuance; and (d) Section 2 of Resolution No. 4360 requires that all terms and conditions of the bonds or other evidences of indebtedness, and the terms upon which the same may be sold, shall be prescribed by Resolution; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a municipal corporation of the State of Oregon, as follows: Section 1 Provisions for Issuance and Sale of Ronds. The terms and conditions of such bonds or other evidences of indebtedness in an aggregate principal amount of not to exceed fifteen million dollars ($15,000,000) and the terms upon which the same may be sold shall be as set forth in this Resolution; provided, however, that the Board is hereby authorized to prescribe by resolution all such terms and conditions in addition to and not in conflict with those set forth herein. The terms and conditions prescribed by this Resolution are as follows: Page 1