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RESOLUTION NO. 4719 A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF NOT TO EXCEED TWELVE MILLION DOLLARS ($12,000,000) AGGREGATE PRINCIPAL AMOUNT OF FEDERALLY TAXABLE REVENUE BONDS FOR THE PURPOSE OF FINANCING ENERGY UTILITY SYSTEM CONSERV A TION LOANS AND GRANTS; AUTHORIZING THE ISSUANCE AND SALE OF NOT TO EXCEED THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,500,000) AGGREGATE PRINCIPAL AMOUNT OF TAX-EXEMPT REFUNDING REVENUE BONDS FOR THE PURPOSE OF REFUNDING CERTAIN 2002 MATURITIES; DECLARING OFFICIAL INTENT TO REIMBURSE PRELIMINARY EXPENDITURES INCURRED FOR COSTS OF CERTAIN CAPITAL IMPROVEMENTS WITH THE PROCEEDS OF PRIOR AUTHORIZED TAX-EXEMPT REVENUE BONDS AND PROVIDING FOR RELATED MA TTERS. The City Council of the City of Eugene finds that: A. On February 17, 1993, the City Council adopted Resolution No. 4360 (the "Authorizing Resolution"), to authorize the City, acting through the Eugene Water & Electric Board ("EWEB"), to borrow money and issue, from time to time, revenue bonds (the "Bonds") in an aggregate principal amount of $150,000,000, for the purpose of financing certain improvements to the City's electric utility system, and setting forth certain other terms and conditions for issuance, including the requirement for approval by the City's electors and the requirement that the terms of the bonds should be prescribed by further resolution of the City Council. B. On May 18, 1993, the City's electors approved the issuance of the Bonds (the Authorizing Resolution and the elector approval are referred to herein as the "Bond Authorization"). C. As of the date of this resolution, the aggregate principal amount of Bonds issued pursuant to the 1993 Election is $92,645,000, consisting of $27,000,000 principal amount of Electric Revenue Bonds, Series 1994 issued under City Council Resolution No. 4394, $31,500,000 principal amount Electric Revenue Bonds, Series 1994C issued under City Council Resolution No. 4405, $19,890,000 principal amount of Electric Revenue Bonds, Series 1996 issued under City Council Resolution No. 4425, $12,455,000 principal amount of Electric Revenue Bonds, Series 1998A issued under City Council Resolution No. 4571 and $1,800,000 under a Revolving Line of Credit issued under City Council Resolution No. 5616; D. As of the date of this resolution, there is $57,355,000 of authorized but unissued debt remaining under the Bond Authorization. E. EWEB has requested the City Council to adopt this resolution to set the terms for the issuance of not to exceed $12,000,000 principal amount of Bonds (the "Series 2002B Bonds") for the purpose of making energy conservation loans and grants to electric utility 1