Resolution No. 4713 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 4713 A RESOLUTION OF THE CITY OF EUGENE, OREGON AUTHORIZING GENERAL OBLIGATION FIRE FACILITIES BONDS. The City Council of the City of Eugene, Oregon, finds as follows: A. The City Council has submitted a measure for consideration by the City's voters on May 21, 2002, authorizing the issuance of $8,680,000 of general obligation bonds for fire facilities. B. The City Council adopts this resolution to permit the issuance of those bonds promptly, if the bonds are approved by the City's voters. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Eugene, a municipal corporation of the State of Oregon, as follows: Section 1. Bonds authorized. The City Council of the City of Eugene, Oregon (the "City") hereby authorizes the issuance, sale and delivery of one or more series of its General Obligation Fire Facilities Bonds (the "Bonds") for the purpose of financing the fire facilities described in the ballot measure submitted to the City's voters at the May 21, 2002, election. The aggregate principal amount of the Bonds shall not exceed the amount stated in that ballot measure. No Bonds shall be issued under this resolution if the voters of the City fail to approve that measure at the May 21, 2002, election. Section 2. Delegation. If the City Manager or the person designated by the City Manager to act on behalf of the City pursuant to this Resolution (the "City Official") determines to issue a series of Bonds, the City Official is hereby directed, on behalf of the City and without further action by the Council, to: (1) Participate in the preparation of, authorize the distribution of, and deem final any official statement or other disclosure documents relating to each series of the Bonds. (2) Establish the final principal amounts, maturity schedules, interest rates, sale prices and discount, prepayment terms, payment terms and dates, and other terms of each series of Bonds. (3) Execute and deliver a bond declaration for each series of Bonds, specifying the terms under which each series of Bonds are issued, and making covenants for the benefit of Bondowners, including covenants to protect the tax -exempt status of the Bonds. (4) Solicit competitive proposals for the purchase of any series of Bonds and award the sale of that series to the proposer offering the most favorable terms to the City, or select one or more underwriters, negotiate the terms of the sale of any series of Bonds, and sell that series to those underwriters.