02/12/1986 Meeting - Laserfiche WebLink

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e e e Responding to a question from Ms. Wooten, Don Vanderzanden, EWEB treasurer, said EWEB forecasts do not include future BPA rate increases because EWEB does not know if BPA will increase rates. However, EWEB usually passes about half of BPA rate increases on to EWEB customers. Peter Johnson, BPA Administrator, has indicated SPA is in a period of rate stability, Mr. Vanderzenden said, but no one knows what will happen if BPA is sold. Replying to questions from Mr. Hansen and Mr. Holmer, Mr. Wong said costs for the March 25 election will be shared with other jurisdictions on the ballot. The City will be charged between $6,000 and $7,000. Mr. Vanderzanden said the interest would be 8 percent if the bonds were sold today, although the ordin- ance indicates a maximum interest of 13 percent. If interest rates rise above 13 percent, the ordinance indicates the bonds cannot be sold. Ms. Bascom appreciated the presentation EWEB officials made to the City Council and she appreciated the enclosure in EWEB mailings which described the sewer charge. She hoped the garish red line on EWEB bills can be changed. CB 2874--An ordinance authorizing the City of Eugene, acting by and through the Eugene Water & Electric Board, to issue up to $25,000,000 aggregate principal amount of revenue bonds or other evidences of indebtedness of the City, payable solely from net revenues or any portion thereof of the electric utility system of the City, for the purpose of financing improvements to the electric utility system of the City; and providing for an effective date. Mr. Hansen moved, seconded by Ms. Ehrman, that the bill be read the second time by council bill number only, with unanimous consent of the council, and that enactment be considered at this time. Ms. Ehrman noted that the council action is pro forma. Her vote in favor of Council Bill 2874 would not indicate support or non-support for the ballot measure. Mr. Holmer and Mayor Obie said they support the ballot measure. Mayor Obie said he hoped the EWEB development will be an excellent example of what can be done on the riverfront. Roll call vote; the motion carried unanimously, 8:0. Council Bill 2874 was read the second time by council bill number only. Mr. Hansen moved, seconded by Ms. Ehrman, that the bill be approved and given final passage. Roll call vote, all councilors present voting aye, the bill was declared passed (and became Ordinance No. 19377) MINUTES--Eugene City Council February 12, 1986 Page 8