Resolution No. 4719 - Laserfiche WebLink

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authorized signatory and other terms and conditions of the bonds because the same cannot be determined by the Council at this time; (d) The Series 2002C Refunding Bonds shall include a statement on their face to the effect: (i) that they do not in any manner constitute a general obligation of EWEB 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 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 2002C Refunding 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 3. Provisions for Sale of Series 2002B Bonds and Series 2002C Bonds at Private Negotiated Sale. The Series 2002B Bonds and the Series 2002C Bonds are authorized to be sold individually or together by private negotiated sale based upon written recommendation of EWEB's independent financial advisor, provided that such 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 4. Series 2002B Bonds and Series 2002C Refunding Bonds Payable Solely from Revenues. The Series 2002B Bonds and Series 2002C Refunding 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 Sections 1 and 2 hereof. Section 5. Series 2002B Bonds and Series 2002C Bonds Reporting. EWEB shall submit to the City by May 1 of each year the following annual reports commencing after the first sale of Series 2002B Bonds and Series 2002C 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 5