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<br />e <br /> <br />CB 3032--An ordinance concerning day care facilities; <br />amending Sections 9,384, 9,386, and 9,439, of <br />the Eugene Code 1971; and declaring an <br />emergency. <br /> <br />Mr. Holmer moved, seconded by Ms. Bascom, that the bill, <br />with the unanimous consent of the council, be read the <br />second time by council bill number only, and that <br />enactment be considered at this time, Roll call vote; the <br />motion carried unanimously, <br /> <br />Council Bill 3032 was read the second time by council bill number only, <br /> <br />Mr, Holmer moved, seconded by Ms. Bascom, that the bill be <br />approved and given final passage. Roll call vote; all <br />councilors voting aye, the bill was declared passed (and <br />became Ordinance No, 19544), <br /> <br />VI. PUBLIC HEARING: RESOLUTION CONCERNING AIRPORT REVENUE BONDS <br /> <br />City Manager Mike Gleason introduced the item, Warren Wong, Finance <br />Director, said a public hearing is required to give citizens an <br />opportunity to testify on the use of tax exempt bonds for private <br />activity, <br /> <br />- <br /> <br />Mr. Holmer noted that the maximum amount of bonds to be issued is listed <br />under the public hearing as $8,170,000, However, in item X the airport <br />terminal revenue bonds are listed as $5,910,000, He asked if there will <br />be an additional issue of bonds beyond the $5,9 million. <br /> <br />Mr. Wong said the $8,17 million figure refers to an inducement resolution <br />passed by the council in April 1987 for a total of $14 million. The $14 <br />million was designated to cover the general obligation bond, which has <br />already been sold, and the revenue bond, which is the remaining $8,17 <br />million. The $5.91 million in the City Manager's report is the net <br />proceeds to the project and does not include capitalized interest and <br />issuance cost, He said the council is scheduled to approve the actual <br />revenue bond ordinance at its April 20 meeting. <br /> <br />Ms, Schue asked for more background information about the bonds, Mr, <br />Wong said the revenue bonds will be paid back by the airlines as part of <br />their rent for terminal space. The general obligation bonds are being <br />funded through an allocation of State Shared Revenue, Because of a <br />pending court case, he said the State money is being transferred directly <br />to the capital budget. <br /> <br />Mayor Obie opened the public hearing, Hearing no requests to testify, <br />Mayor Obie closed the public hearing. <br /> <br />e <br /> <br />MINUTES--City Council <br /> <br />April 11, 1988 <br /> <br />Page 8 <br />