Resolution No. 4719 - Laserfiche WebLink

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revenues or property of the City, or property of EWEB, but are charges upon and are payable solely from the revenues of the Electric Utility System operated by EWEB, or any portion thereof, pledged to the payment thereof; and (ii) 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 EWEB, or by or through the taxing power of the City; and (e) Prior to the issuance of the Series 2002B Bonds, EWEB shall (i) prepare a plan showing that the estimated Electric Utility System revenues are sufficient to pay the estimated debt service on the Bonds, (ii) adopt a bond resolution and provide a copy of such resolution to the City and (iii) provide to the City a resolution determining 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, the Charter of the City of Eugene and this resolution. Section 2. Series 2002C Refunding Bonds: Terms~ Purpose of Issue~ Delegation of Authority~ Provisions for Issuance~ Conditions of Issuance. Based on the above findings, the Council hereby authorizes EWEB to issue the Series 2002C Refunding Bonds, except the bonds to refund the 2002 maturity of the Series 1997 Bonds which have been previously authorized by the City Council in City Ordinance No. 19780, as federally tax-exempt bonds within the following terms and conditions prescribed by the City Council: (a) The Series 2002C Refunding Bonds, except the bonds to refund the 2002 maturity of the Series 1997 Bonds the terms and conditions of which have been previously authorized by the City Council in City Ordinance No. 19780, shall: (i) mature not later than thirty (30) years from the date of issuance thereof; (ii) be sold at par or with a net original issue discount/premium that does not exceed four percent (4%) of the aggregate principal amount thereof; (iii) have an effective interest rate of not to exceed thirteen percent (13%) per annum; and (iv) not exceed $3,500,000 in total principal; (b) The proceeds of the Series 2002C Refunding Bonds shall be used for the purpose of currently refunding the 2002 Maturities; (c) Pursuant to ORS ~288.825(4)(a) ORS ~288.520(4) ORS ~288.540 and ORS ~288.545, EWEB, or any individual designated by EWEB, is hereby authorized and directed to determine, with respect to the Series 2002C Refunding Bonds, except the bonds to refund the 2002 maturity of the Series 1997 Bonds, the terms and conditions of which have been previously authorized by the City Council in City Ordinance No. 19780, the form of bonds and series designation, the manner of disbursement of proceeds of the bonds, the maturity dates, principal amounts, redemption provisions, interest rates or the method for determining a variable or adjustable interest rate, denominations, form and 4