Resolution No. 4712 - Laserfiche WebLink

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Notice to be published in The Register-Guard, Eugene, Oregon, a newspaper of general circulation within the boundaries of the City, in the same manner as are other public notices of the City. If petitions for an election, containing the valid signatures of not less than five percent (5%) of the City's qualified electors, are received within the time indicated in the Notice, the question of issuing bonds in an amount not to exceed $11,000,000 shall be placed on the ballot at the next legally available election date. If such petitions are received, no Bonds may be issued or sold until the question of whether to issue such Bonds is approved by a majority of electors living within the boundaries of the City who vote on that question. Any such petitions will be subject to ORS ~288.815 and ~~2.970-2.992 of The Eugene Code, 1971. Section 3. Bonds to be sold bv Public Competitive Bid. The Bonds shall be sold by EWEB in one or more series by public competitive bid in the manner prescribed by ORS ~288.875 to ORS ~288.915. EWEB, or any individual designated by EWEB, is directed to publish notice of the sale in accordance with ORS ~288.875 to ORS ~288.915 and determine the time, date and place of the sale. Section 4. Bonds Payable Solely from Revenues. The Bonds shall not be general obligations of the City, nor a charge upon its tax revenues, but shall be payable solely from the revenues and funds which EWEB pledges to payment thereof pursuant to ORS ~288.825 and in accordance with Section 1 hereof. Section 5. Reporting. EWEB shall submit to the City by May 1 of each year the following annual reports commencing after the first sale of Bonds or other evidences of indebtedness and each year thereafter until the Bonds have been paid and retired: (a) a report on the funds for the Bonds describing the funds established, the amounts in each fund, expenditure from each fund, the manner in which the monies in each fund have been invested, the income from such investments and the application of such income; and (b) a report on Bond payments describing amounts paid and amounts scheduled to be paid and the source of such payments. If the contents of the reports required by subsections (a) and (b) above are included in the EWEB's yearly audit report, EWEB may comply with this section by transmitting a copy of its yearly audit report to the City. Section 6. Appointment of Professionals. EWEB is authorized to appoint a bond counsel a financial advisor, a registrar and paying agent and any other agent EWEB deter-mines in necessary or convenient to accomplish the issuance and sale of the Bonds. Section 7. Official Statement. Upon completion of the requirements of Section 2 hereof, EWEB or any individual designated by EWEB is authorized to prepare and distribute a Resolution 3