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<br />DISCUSSION OF THE EUGENE WATER AND ELECTRIC BOARD'S,EIGHT AND ONE-HALF MILLION
<br />. DOLLAR BOND ISSUE - MR., HENRY f. BE I STEL, DEPUTY 01 RECTOR FOR THE EUGENE WATER AND, : '
<br />ELECTRIC.-a,OARD,I,NDICATED THAT: THE EUGENE..WA1'ER AND ELECTRIC BOARD ' WOUlD, ASK,THE COUNCIL
<br />TO PASS A RESOLUTI~N AT THEI~ ME~TING 9N JANUARY'23, 1956 ~ALLING FOR:AN ELECTION ~N
<br />THE QUESTION AS TO WHETHER THE EUGENE WATER AND ELECTRIC BOARD SHOULD BE AUTHORIZED TO
<br />BUI LD AND' CONSTRUCT A DAM AT BEAVER-MARSH, .1 NST-ALL GENER,ATORS AND T,RANSMI SSI ON FA.C ILl TI ES,
<br />AND TO ACCOMPLISH THESE ITEMS TO SELL REVENUE BONDS OF THE CITY,IN THE SUMO,. ,EIGH,T,AND
<br />ONE-HALF MILLION DOLLARS. REPRESENTATIVES or THE EUGENE WATER AND ELECTRIC BOARD AND
<br />THE: COMMI TTEE DI SCUSSED THE MATTER, AND DURI NG THE DISCUSSION MR. PETERMAN ,OF THE.
<br />ENG'INEERING FIRM OF fORD, B~CON AND DAVIS, INDICATED TO THE GROUP THAT HIS FIRM HAD FOUND
<br />THA'T TH~ EUGENE WAT~R AJ4D ELECTRI ~ B9ARI;) VAS A VERY WELL MANAGED ORGANI Z,ATI ON,. THAT THEY
<br />SHOULD HAVE ,.,9 ,TROUBL~, WITH THE PROPOSED BOND ISSUE, AND THA T TH~ BOND, I,SS!J,E SIiOULD, SELL
<br />AT ~ R~ASONABL~, I,TERESr RATE.
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<br />LIKEWISE, DURING'THE 01 SCUSSI ON, I T WAS POI NTED OUT THAT' THE PROPOSED BPND ISSUE
<br />WOULD NOT BE A GENERAL OBLIGATION ISSUE BUT THAT THE REVENUES OF THE EUGENE WATER AND
<br />ELECTRI C BOARD WOULD BE PLEDGED FOR THE PAYMEN:r, Of THE BONDS AND THAT THE, ~RDI N~NCE
<br />CALL I N,G FOR B IDS ON THE BONDS WC?ULD C9NT A I N ~AfE-,GUARDS FOR THE BOND HOLDERS, WH I CH WERE
<br />NOT NORMALLY,F,ELT NECESSARY WHERE THE BONDS WERE GENERAL O~LIGATIO~~ OF THE TAX PAYERS
<br />OF TH~ CITYL: '" ' ,
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<br />AFTER DISCUSSION, THE MEETING WAS ADJOURNED WITH NO FORMAL, ACTION ~EIN~,lAKEN.~
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<br />I T WAS MOVED BY MR. BOOTH,. SECONDED BY MR. GODLOVE, THAT THE',REPORT OF THE ,COMMI TTEE OF'
<br />THE WHOLE AND THE EUGENE WATER AND ELECTRIC BOARD BE: ADOPTED. ,MOT!ON CARRIED.
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<br />A REPORT 9F' THE COMMITTEE OF' THE WHOLE ANO THE EUGENE WATER AND ELECTRIC, BOARD MEETING
<br />HELD JANUARY 23, 1956 -RE: DISCUSSION OF' RESO~UTION CALLING AN ELECTION ON THE QUESTION OF'
<br />THE EUGENE WATER AND EL~CTRIC BOARD B~ING AUTHORIZED TO BUI~D AND.CONSTRUCT,A 'DAM AT, BEAVER-
<br />MARSH W~S SUBMITTED'AND READ AS FOLLOWS:
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<br />"PRESENT: COUNCILMEN BOOTH, KOPPE, WATSON, OWEN, SHEARER, HARTMAN, AND SHISLER;
<br />CITY MANAGER; CITY RECORDER; EUGENE WATER AND ELECTRIC BOARD MEMBERS WENGERT, AND SMIJH;
<br />MR. RAY B9ALS, ,AND MR io HENRY f;. BE I STEL OF'! THE EUGEIIIE;WATER AND Et.EC;TRIC !BOARD ,ADMI NI S-
<br />TRATIVE STAF'F; MR. PETERSON O~ FORD, BACON AND DAVIS; AND MR. DAN WYANT OF THE EUGENE
<br />REGI STER-GUARD. : I 1 '
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<br />CHARTER AMENDMENT PROPOSE~ BY THE EUGENE WATER AND ELECTRIC BOARD MR. HENRY BEISTEL
<br />EXPLAINED THE PROPOSED CHARTER AMENDMENT WHICH, IF PASSED BY THE VOTERS OF' EUGENE, WOULD
<br />AUTHOR!ZE THE EUGENE WATE~ ~ND ELECTRIC epARD,TO CONSTRUCT THE BEAVER-MARSH DAM, AND SUCH
<br />OTHERF'ACILITIES NECESSARY OR CO~VENIE"T TO THE DISTRIBUTION OF POWER, GENERATED THERE,
<br />AND ALSO. AUTHORIZE-THE SALE OF EIGHT AND ONE-HAL~MIL~ION DOLLARS, IN REVENUE BONDS TO
<br />FINANCE SUCH CONSTRUCTION. MR. PETERSON OF THE ENGINEERUNG FIRM O~ FORD, BACON AND
<br />DAv~s, ~XPLAINED AN INCOMEiSCHEDULE,~ITH PARTI~ULAR REF'EREN~E TO THE DEBT SERVI~E
<br />COVERAGE THE EUGENE WATER AND ELECTRIC BOARD WOULD HAVE IN THE ,EVENT'S~~H,BONDS WERE SOLD.
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<br />fOLLOWING A DISCUSSION IN WHICH QUESTIONS WERE ANSWERED, THE COMMITTEE R~COMMENDED
<br />THE ADOPTION OF' THE RESOLUTION AUTHORIZING THE MEASU.E TO BE PLACED ON THE BALLOT.
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<br />THE 'COMMITTEE FURTHER RECOMMENDED THAT 'A RESOLUTION BE PASSED REPEALiNG,A.~~SOLUTION
<br />REQUIRING THE CITY RECORDER TO PLACE ON THE NEXT BALLOT A MEASURE FOR THE REPEAL O~ THE
<br />ONE-HALr-O~ ONE PER CENT OF ASSESSED~VALUE CHARTER ,LIM~TATION'O~ TAXAT~ON."
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<br />I T WAS MOVED BY MR. BOOTH, ,SECONDED BY MR., GODLOVE, THAT THE REPORT. OF THECQt:4MI TTEE OF' THE
<br />WHOLE AND THE EUGENE WATER AND ELECTRIC BOARD BE ADOPTED. MOTIO~ CARRIED.w ",
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<br />A REROR~ O~~THE COMMITTEE OF'THE WHOLE MEETINGHE~D JANUARY '20,-1950 - R~: DISCUSSION OF
<br />THE PROPOSED INITIATIVE PETITION ON.THELIBRARV. SITE WAS SUBMITTED ANDRE~D ,AS FOLLOWS:.
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<br />"?RESENT: MAYOR JOHNSON; -COUNCILMEN BOOTH, KOPPE, WATSON, OwEN, SHEARER, HART,MAN,
<br />AND SHISLER; CITY MANAGER; CITY ATTORNEY; CITY RECORDER; MESSRS. ,MAURIE JACOBS, ,VICTQR
<br />LINDEEN, ROLAND RODMAN, MONTY MONTGOMERY AND fRED BRENNEj MRS. PAULINE BURRIS; AND
<br />MR. DAN WYANT OF' THE EUGENE REGISTER-GUARD.
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<br />DISCUSSION OF' ~HE~PROPOSED 'INITIATIVE PETITION ON THE LIBRARY SITE ~ ,THE ,COMMITTEE
<br />AND A GROUP OF' INTERESTED-CITIZENS DISCUSSED THE PROPOSED INITIA~IVE PETITION WHICH, :IF
<br />SUCCESSFUL, WOULD REQUIRE A VOTE OF' THE PEOPLE TO DETERMINE IF' THE COUNCIL'S AUTHORITY
<br />TO ,P,URCHASE A LI BRARY SI TE WOULD BE RE'PEALEtl AND WHI C,HALSO, IF .SUCC,ESSF'UL,' WOULD ,SET.
<br />THREE SITES (THE PARK BLOCKS, THE SOUTHEAST CORNER OF' 11TH AVENUE AND WILLAMETTE StREET,
<br />THE OLD FRANCES WILLARD SCHOOL SITE) FOR THE PEOPLE TO CHOOSE F'ROM AT A SECOND ELECTION
<br />TO BE HELD PRI QR TO NOVEMBE'R, 1,5, 1,956. 'I' ' i
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<br />THE COMMITTEE AND THE CITIZENS DISCUSSED THE POSSIBILITY OF' THE COUNCIL REFERRING
<br />THESE, MEASURE,S TO THEP,[,OPLE ON'THe.IR OWN INHIATIVE, T,HEPOSSIBILI,lY OF' T,HE COUNCIL,
<br />ACCEPTING AN ADVISORY VOTE ON THE SUBJECT, AND THE VARIOUS METHODS OPEN UNDER THE.
<br />INITIATIVE PETITION, OR WITHOUT AN INITIATIVE PETITION F'OR AN ELECTION.
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