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<br /> CHARTER AMENDMENT
<br /> I AN ACT
<br /> To AMEND THE CHARTE R OF THE CITY OF Eu GENE, LANE COUNTY, f)'RE GON, BY ADDING
<br /> A NEW CHAPTER T HE R E TO, AUTHORIZING AND EMPOWERING SAID CITY OF EUGENE, ACTING BY AND N
<br /> EUGENE WATER BOARD, ELECTRicAL UTILITIES' --.~
<br /> THROUGH THE TO IMPROVE AND ENLARGE ITS WATER AND "-
<br /> SYSTEMS, WITHIN AND WITHOUT THE SAID C I T Y, BY THE PURCHASE, CONSTRUCTION AND INSTALLATION oi..J
<br /> Of SUCH UNITS, EQUIPMENT,TRANSMISSION FACILITIES, AND STRUCTURES AS SHALL IN THE JUDGMENT
<br /> OF THE SAID EUGENE WATER BOARD BE DEEMED EXPEDIENT, CONVENIENT AND NECESSARY; TO SECURE
<br /> 8Y PURCHASE, CONDEMNATION OR OTHERWISE, WIT H IN AND WITHOUT THE SAID C IT Y, ALL REA L ESTATE,
<br /> I RIG HT S OF WAY, PROPERTY, WATER RIG HT S, EASEMENTS AND LICENSES NECESSARY OR CONVENIENT TO
<br /> SAID IMPROVEMENT AND ENLARGEMENT, AND TO PURCHASE, CONSTRUCT AND INSTALL ANY AND EVERY
<br /> UNIT, EQUIPMENT, STRUCTURE AND APPLIANCE REASONABLE AND NECESSARY THEREFOR; AND FURTHER
<br /> AUTHORIZING AND EMPOWERING SAID CITY OF EUGENE, THROUGH ITS COMMON COUNCIL, TO ISSUE AND
<br /> SELL NEGOTIABLE, GENE RAL o BL I GA T ION BON DS OF THE SAID C IT Y Of EUGENE, IN THE SUM OF
<br /> $3,000,000.00, OR SO MUCH THEREOf AS SHALL BE NECESSA.RY FOR THE PURPOSES AFORESAID, AND
<br /> FURTHER AUTHORIZING THE SA 10 EUGENE WATER BOARD TO EXPEND THE PROCEEDS, WITH AN Y OTHER
<br /> AVA I LA 6LE fUNDS, IN PAYMENT THERE FOR.. THE PAYMENT Of SAID BONDS 5 HA L L BE ADDITIONALLY
<br /> SECURED BY A PLEDGING OF THE NET REVENUES OF THE EUGENE WATER BOARD AVAILABLE fOR SUCH
<br /> PURPOSE.
<br /> THE C I TV or EU GENE DOES ORDAIN AS r 0 L LOW S :
<br /> BE IT ENACTED BY THE LEGAL VOTERS Of THE CITY OF EUGENE, OREGON, THAT THE CHARTER OF SAID
<br /> CITY BE AMENDED BY ADDING T HE R E T 0 A NEW CHAPTER TO READ AS fOLLOWS:
<br /> SECTION I . THE C I T Y OF EUGENE, LANE COlq\IT Y , QRE GON, ACTING BY AND THROUGH THE EUGENE
<br /> WATER BOARD, IS HE RE BY AUTHORIZED AND EMPOWERE.U TO IMPROVE AND ENLARGE ITS WATER AND ELECTRICAL
<br /> UTILITIES' SYSTEMS, WIT HI N AND WITHOUT THE SAID C I T Y, BY THE PU RC HASE, CONSTRUCTION AND
<br /> INSTALLAT ION OF SUCH UNITS, EQUIPMENT, TRANSMISSION FACILITIES, AND STRUCTURES AS S HA L L IN THE
<br /> JUDGMENT OF THE SAID EUGENE WATER Bo AHO BE DEEMED EXPEDIENT, CONVENIENT AND NE CESSAR Y; TO
<br /> SE CU RE BY PURCHASE, CONDEMNATION OR OTHERWISE, WITHIN AND WITHOUT THE SAID C I T Y, ALL REAL
<br /> ESTATE, RIG HT S OF WAY, PROPERTY, WATER RIGHTS, EASEMENTS AND LICENSES NECESSARY OR CC;:>NVENIENT
<br /> TO SAID IMPROVEMENT AND ENLARGEMENT, AND TO PURCHASE, CONSTRUCT AND INSTALL ANY AND EVERY
<br /> UNIT, EQUIPMENT, STRUCTURE AND APPLIANCE REASONABLE AND NECESSARY THEREFOR.
<br /> I SECTION 2. FOR THE PURPOSE OF PROVIDING SUFFICIENT FU N DS FOR, THE PAYMENT FOR SUCH IMPROVE...
<br /> MENT AND ENLARGEMENT OF SAID CITY'S ELECTRICAL AND WATER UTILITIES' SYSTEMS, IV I T HI N AND WITHOUT
<br /> THE SAID CITY, AND FOR THE PURPOSES SET OUT IN SECTION I HEREOF, THE COMMON COUNCIL OF THE SAID
<br /> CITY OF EUGENE Is HEREBY AUTHORIZED AND EMPOWERED, AND DIRECTED TO I S SUE AND SELL AS SHALL BE
<br /> DEEMED EXPEDIENT, CONVENIENT AND NECESSARY, AND AS SHALL BE REQUESTED BY THE S A IDE U GE N E WATER
<br /> BOARD, NEGOT I ABLE BONDS OFT HE C IT Y OF EUGENE, LANE COUNTY, OREGON, TO THE AM 0 U N T OF 33,000,000.0
<br /> OR SO MUCH THEREOF AS SHALL BE DEEMED NECESSARY AS AFORESAID TO BE USED WITH OTHER AVAILABLE
<br /> FUNDS FOR THE PURPOSES SET OUT HEREIN.
<br /> -' SECTION 3. THE BONDS HEREBY AUT HO R I ZED S HAL L BE GENERAL OBLIGATION BONOS OF THE SAID C I T Y,
<br /> AND TO MATURE WITHIN TWENTY YEARS FROM THE DATE OF ISSUE THEREOF, AND MAY BE IN SUCH FORM AND
<br /> OF SUCH DENOMINATION, DUE DATE, INTEREST PAYMENT DATE, PLACE Of PAYMENT, AND BEAR SUCH CALLABLE
<br /> FEATURES AND PROVISIONS AS THE EUGENE WATER BOARD MAY DEEM MOST LIKELY TO ENHANCE THEIR VALUE
<br /> AND INSURE THEIR SALEAl3ILITY, AND SHALL RECOMMEND UNTO THE COMMON COUNCIL. SAID BONDS SHALL
<br /> BE AR A RATE OF INTEREST NOT GREATER THAN 6% PER ANNUM, ANU S HA L L BE SOLO FOR NOT LESS THAN 98
<br /> PER CENTUM OF T HE I R PAR VALUE AND ACCRUED INTEREST.
<br /> SE CT ION 4. As ADDITIONAL SECURITY FOR THE PAYMENT OF THE BONDS ~E RE BY AUTHORIZED, THE
<br /> EUGENe WATER BOARD IS AUTHORIZED AND DIRECTED TO PLE DGE AL L OR ANY PART OF THE NET REVENUES
<br /> OF THE EUGENE WATER BOARD ARIS ING FROM THE OPERATION OF THE SA I D C IT Y 's ELECTRICAL A ~J D IV ATE R
<br /> UTILITIES R Ef1 A I N I N G AFT E R DEDUCTING THE EXPENSES OF MAINTENANCE AND OPERATION, AND PROVISION
<br /> FOR RETIREMENT OF PRESENT BON DE 0 INDEBTEDNESS OF SAID UTILITIES, OR E I THE R OF THEM REQUIRED
<br /> FOR THE PA YMENT OF PRINCIPAL A NO INTEREST OF THE BONDS HERE IN AUTHORIZED, AND FOR THE CREATION
<br /> I AND MAIf\;TENANCE OF RESERVES AND SINKlf\:G FUNDS DEEMED ADVISABLE BY THE E U GE N E WATER BOARD FOR
<br /> SUCH PIURPOSES, NOT WIT 14's T AN 0 t N G ANY OT HE R PRESENT PROVISIONS OF THE CHARTER Of SAID C I T Y. THE
<br /> EUGENE WATER BOARD IS DIRECTED TO ESTABLISH AND MAINTAIN FROM TIME TO T I NIE SUCH RATES AND
<br /> CHARGES FOR WATER AND ELECTRICAL SERVICES AS WILL PRODUCE SUFFICIENT FUNDS TO PAY THE PRINCIPAL
<br /> AND INTEREST OF THE BONDS SOLD AS AFORESAID, TOGET HE R WITH OT HE R OBLIGATED CHARGES.
<br /> SECTION 5. 5 HOUL 0 THE SAID PLEDGED NET REVENUES OF THE EUGENE WATER BOARD BE INSUFFICIENT
<br /> T HE REF 0 R , THE COMMON COUNCIL OF THE CITY OF EUGENE IS HE R E B Y AUTHORIZED AND DIRECTED TO INCLUDE
<br /> IN ITS GENERAL MUNICIPAL TAX LEVY EACH YEAR SUCH SUFfiCIENT SPECIAL LEV Y AS SHALL AGGREGATE,
<br /> I TOGETHER WIT H THE NE T REVENUES OF SAID CITY'S UTILITIES AS /l:FORESAID, AND ANY OTHER AVAILABLE
<br /> FUN DS, AN AMOUNT SUFFICIENT TO PAY THE INTEREST ON THE BO N DS AND TO PAY THE PRINCIPAL OF SAID
<br /> BO NOS UPON THE MATURITIES THEREOF AS ISSUED, WITHOUT REGARD TO ANY TAX LIMITATION PROVIDED BY
<br /> THE CHARTER.
<br /> SECTION 6. THE COMMON COUNCIL IS HeREBY AUTHORIZED AN 0 DIRECTED TO ISSUE AND SELL SAID
<br /> BON OS FROM TIME TO TIME AS THEY MAY BE NEEDED FOR THE PURPOSES HERE 1/11 SPECIFIED, BUT BEFORE
<br /> A NY OF SAID BONDS SHALL BE SOLD THE Y S HAL L BE ADVERTISED FOR SAL E IN THE MANNER PROVIDED BY
<br /> LAW.
<br /> I: J.i
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