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<br />or the Power Supply Cost Contingencies which are necessary or desirable to effect the <br />sale of the bonds. <br /> <br />SECTION 2: NOTICE: PROCEDURE <br /> <br />1. No portion of the $60,000,000 authorization may be sold, and no purchase agreement for <br />such portion be executed, for at least 60 days following publication of the Notice of <br />Revenue Bond Authorization, such notice being in substantially the form attached to this <br />resolution as Exhibit "A" (the "Notice"). The Notice shall specify the last date on which <br />petitions may be submitted, and the City, acting by and through EWEB, shall cause the <br />Notice to be published in The Register-Guard, Eugene, Oregon, a newspaper of general <br />circulation within the boundaries of the City, in the same manner as are other public <br />notices of the City. <br /> <br />2. If petitions for an election, containing the valid signatures of not less than 5 percent of the <br />City's qualified electors, are received within the time indicated in the Notice, the question <br />of issuing such bonds in an amount not to exceed $60,000,000 shall be placed on the <br />ballot at the next legally available election date. If such petitions are received, no such <br />amount of bonds may be sold until the question of whether to issue such bonds is <br />approved by a majority of electors living within the boundaries of the City who vote on <br />that question. Any such petitions will be subject to ORS 288.815 and Sections <br />2.970-2.992 of The Eugene Code, 1971. <br /> <br />SECTION 3: DECLARING INTENT TO REIMBURSE <br /> <br />The City reasonably anticipates that the City and EWEB may incur preliminary, cost of <br />issuance and other expenditures that qualify as "Original Expenditures" under Treasury <br />Regulation ~ 1.150-2 prior to the date of issuance of the bonds, and hereby declares its official <br />intent to reimburse itself or EWEB with bond proceeds. <br /> <br />SECTION 4: BONDS PAYABLE SOLELY FROM REVENUES <br /> <br />The bonds shall not be general obligations of the City, nor a charge upon its tax revenues, <br />but shall be payable solely from the Electric Utility System revenues which EWEB pledges to <br />payment of the bonds pursuant to ORS 288.825(1) and the authorizing resolutions to be adopted <br />by EWEB pursuant to Section 1 of this resolution. <br /> <br />The foregoing Resolution adopted on the 6th day of August, 2001. <br /> <br />ffdll.1i.U . ~ <br /> <br />City Recorder <br />