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<br />improvements as set forth herein is for public purpose, is necessary for the public welfare, <br /> <br />is authorized under the laws of the State of Oregon and the Charter and ordinances of the <br /> <br />City of Eugene, and is ordered by this Resolution. <br /> <br /> <br />Section 6. Any warrants or other short-term debt and other evidence of <br /> <br />indebtedness authorized by Chapter 902, 1992 Oregon Session Laws, issued to finance <br /> <br /> <br />the improvements shall be indebtedness for them and any fund which may be pledged as <br /> <br /> <br />security therefor. They shall bear interest at a rate set by the City Manager at the time of <br /> <br /> <br />issuance and shall be redeemed as provided by their terms. <br /> <br /> <br />Section 7. Proceeds from unbonded assessments, improvement bonds, and <br /> <br /> <br />foreclosure of improvement liens based on the improvements, from revenues appropriated <br /> <br />for that purpose, and from ad valorem taxes, if any, levied to pay the warrants, shall be <br /> <br />deposited in the fund that repays the cost of these improvements until the warrants or other <br /> <br /> <br />short-term debt issued to finance the improvement are redeemed. Proceeds so deposited <br /> <br /> <br />may be used only to pay warrants or other short-term debt issued to finance the improve- <br /> <br /> <br />ments. <br /> <br />Section 8. The Mayor, City Manager, and Finance Officer may sign warrants and <br /> <br /> <br />other evidence of debt by facsimile signature with a check-signing machine. The Finance <br /> <br />Officer shall cause the seal of the City to be printed on the warrants or other evidence of <br /> <br />debt. <br /> <br />Section 9. The City Council declares the adoption of this resolution not to be a land <br /> <br /> <br />use decision for the reasons set forth in Exhibit "8" which is attached hereto and hereby <br /> <br />X,U,S RESOLUTION <br />