Resolution No. 4690 - Laserfiche WebLink

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Supplemental Bond Resolution; and shall bear interest at respective rates not to exceed those established in the Supplement.al Bond Resolution. (b) The total aggregate principal amount of the Bonds shall not exceed: (1) $30,000,000 for the Series 2001A Bonds; (2) $40,000,000 for the Series 2001B Bonds; and (3) $15,000,000 for the Series 2002A Bonds. (c) The Bonds shall include a statement on their face to the effect: (1) that they do not in any manner constitute a general obligation of the Board, or of the City, or create a charge upon the tax revenues of the City, or upon any other revenues or property of the City, or property of the Board, but are charges upon and are payable solely from the revenues of the Electric Utility System operated by the Board, or any portion thereof, or from any other monies lawfully available therefor, pledged to the payment thereof as described in the Bond Resolution; and (2) that the holders thereof may look for repayment only to the revenues of the Electric Utility System which are pledged to the payment thereof, and may not directly or indirectly be paid or compensated through the property of the City, or the Board, or by or through the taxing power of the City. (d) To the extent consistent with the Bond Resolution the Board shall, by resolution, determine that any and all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of the Bonds exist, have happened and have been performed in due time, form and manner as required by the Constitution and statutes of the State of Oregon and the Charter of the City of Eugene. Without limitation on the foregoing, the Note shall be paid from the proceeds of the Series 2001 B Refunding Bonds as soon as practicable after the delivery of the Series 2001 B Bonds to the underwriter thereof and the Series 1992 Bonds shall be redeemed on August 1, 2002, the first date following the issuance of the Series 2002A Bonds on which the Series 1992 Bonds are subject to optional redemption and such date for redemption shall be irrevocable after delivery of the Series 2002A Bonds to the underwriter thereof. Section 2. Provisions for Sale of Bonds at Private Negotiated Sale. The Series 2001 A Bonds, the Series 2001 B Bonds and the Series 2002A Bonds are each authorized to be sold individually or together by private negotiated sale based upon written recommendation ofEWEB's independent financial advisor, provided that the financial advisor makes a written evaluation of the terms and conditions of the sale, the pricing thereof and any other relevant aspects of the sale pursuant to ORS 288.845. Section 3. Forward Current Refunding. Pursuant to ORS Section 288.592, the Series 2002A Bonds may be sold as forward current refunding bonds and EWEB, or any individual designated by EWEB, is authorized to execute and deliver a forward delivery bond purchase agreement or other such similar document in which it contracts to sell the Series 2002A bonds at a specified future date.