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<br /> - - ----- <br /> VI I. RESOLUTION AUTHORIZING ISSUANCE OF TAX ANTICIPATION NOTES (memo, <br /> e resolution distributed) <br /> Assistant City Manager Dave Whitlow said the proposed resolution is needed to <br /> authorize issuance of tax anticipation notes. <br /> Answering a question from Ms. Bascom, Finance Director Warren Wong said the <br /> City will earn interest on the notes. <br /> Res. No. 3984--A resolution authorizing issuance of tax <br /> anticipation notes. <br /> Mr. Hansen moved, seconded by Ms. Schue, to adopt the <br /> resolution. Roll call vote; the motion carried unanimously, <br /> 7:0. Ms. Ehrman had left the meeting. <br /> VIII. RESOLUTION AUTHORIZING SHORT-TERM BORROWING TO FUND LOCAL IMPROVEMENTS <br /> (memo, resolution distributed) <br /> Assistant City Manager Dave Whitlow said the proposed resoiution authorizes <br /> the continuance of the Bancroft program. <br /> Res. No. 3985--A resolution authorizing short-term borrowing <br /> in the amount of $1,500,000 to fund local <br /> improvements on an interim basis. <br /> e Mr. Hansen moved, seconded by Ms. Schue, to adopt the <br /> resolution. Roll call vote; the motion carried unanimously, 7:0. <br /> IX. ORDINANCE CONCERNING EWEB REVENUE BONDS (memo, ordinance distributed) <br /> Assistant City Manager Dave Whitlow said the proposed ordinance will implement <br /> a bond sale approved by the voters in March. <br /> CB 2888--An ordinance providing for the issuance and sale from <br /> time to time by the City of Eugene, acting by and <br /> through the Eugene Water & Electric Board, of not <br /> exceeding $25 million aggregate principal amount of <br /> revenue bonds or other evidences of indebtedness of <br /> said City, payable solely from net revenues or any <br /> portion thereof of the electric utility system, of said <br /> City, or from any other moneys lawfully available <br /> therefore, for the purpose of financing improvements to <br /> the electric utility system; providing for certain <br /> other matters in connection therewith; and declaring an <br /> emergency. <br /> Mr. Hansen moved, seconded by Ms. Schue, that the bill be read <br /> the second time by council bill number only, with unanimous <br /> consent of the council, and that enactment be considered at this <br /> e time. Roll call vote; the motion carried unanimously, 7:0. <br /> MINUTES--Eugene City Council June 18, 1986 Page 8 <br />