Laserfiche WebLink
<br />Harvest Ridge 5th and 6th Additions subdivisions. There is an irrevocable permit for the Legacy <br /> <br />Street, wastewater and related improvements for this property. The final calculations of assessments <br /> <br />will be based on the subdivision that will exist when calculations are done. One lot within the <br /> <br />proposed subdivision will be less than ~ acre, have a frontage of over 100 feet, and will be assessed <br /> <br />for the full frontage. <br /> <br />Section 5. The City Council hereby declares that the construction of the Improvements, as <br /> <br />well as acquisition of rights-of-way or easements necessary for the construction, is for a public <br /> <br />purpose, is necessary for the public welfare, and is authorized under the laws of the State of Oregon <br /> <br />and Charter and ordinances of the City of Eugene, and is directed by this Resolution. <br /> <br />Section 6. Improvement warrants, short-term promissory notes and other evidence of <br /> <br />indebtedness authorized by Chapter 902, 1991 Oregon Session Laws, issued to finance the <br /> <br />construction of the Improvements shall be indebtedness for them. When improvement warrants are <br /> <br />issued, they may be general obligation warrants or limited general obligation warrants or other <br /> <br />similar instrument. Such indebtedness shall bear interest at a rate set by Council resolution <br /> <br />authorizing the debt. The interest shall be paid upon redemption. <br /> <br />Section 7. Proceeds from unbonded assessments, improvement bonds, foreclosure of liens <br /> <br />based on the Improvements and from other budgeted funds including ad valorem taxes, if levied, to <br /> <br />pay the debt shall be deposited in the Short Term Debt Fund until the indebtedness issued to finance <br /> <br />the Improvements is redeemed. Proceeds so deposited may be used only to pay the indebtedness <br /> <br />issued to finance the Improvements. <br /> <br />Resolution - 3 <br />