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<br />SECTION I. THAT THE COMMISSION KNOWN AS THE "EUGENE WATER BOARD", CREATED BY THE AMEND-
<br />MENT TO THE ~HARTER OF THE CITY OF EUGENE, LANE LOUNTY, OREGON, ADOPTED AT A SPECIAL CITY
<br />ELECTION HELD IN THE SAID CITY ON APRIL 18, 1908, ~ND THEREAFTER COMPOSED UNDER AND PURSUANT
<br />TO ORDINANCE No. 1088 OF SAID CITY, PASSED BY THE COMMON COUNCIL THEREOF ON THE 20TH DAY OF
<br />FEBRUARY, 191 I, AND APPROVED BY THE MAYOR OF SAI D CITY ON THE 27TH DAY OF FEBRUARY, 191 I,
<br />SHALL HEREAFTER BE ~NOWN AND DESIGNATED AS "EUGENE WATER & ELECTRIC BOARD", RETAINING AND
<br />REMAINING VESTED WITH AND SUCCEEDING TO EACH AND ALL OF THE POWERS, AUTHORITIES AND DUTIES
<br />OF SAID [UGENE WATER BOARD PROVIDED BY CHARTER PROVISION OR ORDINANCE OF SAID CITY.
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<br />CHARTER AMENDMENT
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<br />AN ACT
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<br />To AMEND THE CHARTER OF THE CITY OF EUGENE, LANE COUNTY, OREGON, BY ADDING A NEW
<br />CHAPTER THERETO, AUTHORIZING AND EMPOWERING THE EUGENE WATER BOARD TO BORROW FROM ANY BANK
<br />OR BANKS UNDER SHORT TERM LOANS OF LESS THAN ONE YEAR, AND AT SUCH RATE OR RATES OF INTEREST
<br />AND TERMS OF REPAYMENT AS SHALL IN THE JUDGMENT OF THE EUGENE WATER BOARD BE DEEMED EXPEDIENT,
<br />CONVENIENT AND NECESSARY FOR THE USE AND BENEFIT OF SAID EUGENE WATER BOARD IN THE CONDUCT
<br />AND MAINTENANCE OF THE WATER AND ELECTRICAL UTILITIES OF SAID CITY; PROVIDING, HOWEVER, THAT
<br />THE ~OTAL AMOUNT OF I~DEBTEDNESS OF SA1D EUGENE WATER BOARD ON SAID SHORT TERM LOANS SHALL
<br />NOT AT ANY ONE TIME EXCEED THE AGGREGATE AMOUNT OF $500,000.00, AND AUTHORIZING THE EUGENE
<br />WATER BOARD TO SECURE'THE PAYMENT THEREOF BY WAY OF PLEDGING OR OTHER HYPOTHECATION, AS
<br />COLLATERAL FOR ANY SUbH LOAN OR LOANS, SUCH ASSETS OF THE SAID CITY UNDER THE CONTROL OF THE
<br />EUGENE WATER BOARD AS MAY BE AVAILABLE THEREFOR, AND AS THE SAID EUGENE WATER BOARD SHALL
<br />DEEM' IT EXPEDIENT, CONVENIENT AND NECESSARY.
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<br />THE CITY OF EUGENE DOES ORDAIN AS FOllOWS:
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<br />'BE IT ENACTED BY THE LEGAL VOTERS OF THE CITY Ot EUGENE, OREGON, THAT THE CHARTER OF
<br />SAID' CITY BE AMENDED BY ADDING THERETO A NEW CHAPTER TO READ AS FOLLOWS:
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<br />SECTION I. THAT THE EUGENE WATER BOARD, ACTING FOR AND ON BEHALF' OF' THE CITY Ot EUGENE,
<br />LANE' COUNTY, OREGON, BE AND IT IS HEREBY AUTHORI ZED AND E~APOWERED TO BORROW FROM ANY BANK
<br />OR BANKS UNDER SHORT TERM LOANS OF' LESS THAN ONE YEAR, AND AT SUCH RATE OR RATES OF INTEREST'
<br />AND TERMS OF REPAYMENT AS SHALL IN THE JUDGMENT OF THE EUGENE WATER BOARD BE DEEMEO EXPEDIENT,
<br />CONVtNIENT AND NECESSARY FOR THE USE AND BENEFIT OF SAID EUGENE WATER BOARD IN THE CONDUCT
<br />AND MAINTENANCE OF THE WATER AND ELECTRICAL UTILITIES OF SAID CITY; PROVIDING, HOWEVER,
<br />THAT'THE TOTAL AMOUNT' Ot INDEBTEDNESS OF SAID EUGENE WATER BOARD ON SAID SHORT TERM LOANS
<br />SHALL NOT AT ANY ONE TIME EXCEED THE AGGREGATE AMOUNT OF $500,000.00.
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<br />. SECTION 2. THAT THE SAID EUGENE WATER BOARD IS HEREBY AUTHORIZED AND EMPOWERED IN
<br />ORDER TO SECURE THE PAYMENT OF ANY SUCH LOAN OR LOANS TO PLEDGE OR OTHERWISE HYPOTHECATE,
<br />AS COLLATERAL FOR ANY SUCH LOAN OR LOANS, SUCH ASSETS OF THE SAID CITY UNDER THE CONTROL OF
<br />THE EUGENE WATER BOARD AS MAY BE AVAILABLE THEREFOR, AND AS THE SAID EUGENE WATER BOARD SHALL
<br />DEEM IT EXPEDIENT, CONVENIENT AND NECESSARY.
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<br />SECTION 3. THE )NDEBTEDNESS AUTHORIZED BY THIS AMENDMENT TO THE CHARTER Ot THE SAID
<br />CITY OF EUGENE IS IN ADDITION TO ALL OTHER INDEBTEDNESSES AUTHORIZED BY THE CHARTER OF THE
<br />CITY' OF EUGENE; AND, FURTHER THAT THE INDEBTEDNESS AUTHORIZED BY THIS CHARTER AMENDMENT
<br />SHALL NOT BE CONSIDERED WITHIN ANY DEBT LIMITATION PROVIDED BY THE CHARTER OF SAID CITY
<br />Ot EUGENE.
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<br />RECORDER'S CERTIFICATE
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<br />STATE OF OREGON)
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<br />) SS
<br />COUNT Y OF LANE )
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<br />I, HENRY f. BEISTEL, DO HEREBY CERTIFY AND DECLARE THAT I AM THE DULy APPOINTED, QUALIFIED
<br />AND ACTING CITY RECORDER tOR THE CITY OF EUGENE, LANE COUNTY, OREGON; THAT THE FOREGOING IS
<br />A TRUE, CORRECT AND COMPLETE COpy OF THE PROCLAMATION SIGNED BY THE MAYOR OF SAID CITY ON
<br />MARCH 15, 1949, THE ORIGINAL OF WHICH IS ON FILE IN MY OtF'ICE.
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<br />I FURTHER CERTIFY AND DECLARE THAT THE FOREGOING COPIES OF CHARTER AMENDMENTS ARE TRUE
<br />AND CORRECT COPIES OF THE ORIGINALS THEREOF, NOW ON FILE IN MY OFtleE.
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<br />IN WITNESS WHEREOF I HAVE SIGNED THESE PRESENTS AND HAVE AFFIXED THE SEAL OF SAID CITY
<br />ON THIS .5TH DAY OF MARCH, 1949."
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<br />UPON MOTION DULY MADE, SECONDED AND CARRIED, THE MEETING WAS ADJOURNED TO MARCH 28, 1949.
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<br />RESPECTFULLY SUBMITTED,
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