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Item 4: MWMC Ord.and Res.
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Item 4: MWMC Ord.and Res.
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6/9/2010 12:45:41 PM
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5/18/2005 4:17:04 PM
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5/23/2005
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ATTACHMENT D <br /> <br /> RESOLUTION NO. <br /> <br /> A RESOLUTION APPROVING THE ISSUANCE OF <br /> REVENUE BONDS BY THE METROPOLITAN <br /> WASTEWATER MANAGEMENT COMMISSION; AND <br /> PROVIDING AN EFFECTIVE DATE. <br /> <br /> The City Council of the City of Eugene finds that: <br /> <br /> A. Pursuant to ORS Chapter 190, the Cities of Springfield and Eugene and Lane <br />County (Governing Bodies) entered into an intergovernmental agreement (Agreement) on <br />February 9, 1977 establishing the Metropolitan Wastewater Management Commission <br />(Commission) to construct, operate, and maintain Regional Sewerage Facilities to service the <br />Eugene-Springfield Metropolitan area (Metro Area). <br /> <br /> B. The original Regional Sewerage Facilities were constructed in the early 1980s <br />with a planned design capacity to serve the Metro Area through 2004. <br /> <br /> C. The Commission and the Governing Bodies have approved the 2004 MWMC <br />Facilities Plan and 20-Year Project List, which includes capital projects with an estimated cost of <br />$144,000,000 (in 2004 dollars) necessary to meet the sewage treatment needs of the Metro Area <br />through the year 2025. <br /> <br /> D. The Commission and its financial advisor conducted an evaluation of funding <br />options, and concluded that revenue bonds are the best available financing tool and that <br />approximately $100,000,000 in revenue bonds should be issued between 2005 and 2010 to fund <br />the capital projects on the 20-Year Project List. <br /> <br /> E. Pursuant to Ordinance No. adopted 2005, the City <br />Council adopted a restated and amended intergovernmental agreement that, in part, created the <br />Metropolitan Wastewater Management Commission as an intergovernmental entity pursuant to <br />the provisions of ORS 190.010 and 190.085. <br /> <br /> F. ORS 190.080(1) provides that intergovernmental entities may issue revenue <br />bonds if the parties to the agreement approve the issuance of the revenue bonds after a public <br />hearing. <br /> <br /> G. The cities of Springfield and Eugene, Oregon and Lane County, Oregon desire to <br />authorize the Metropolitan Wastewater Management Commission to issue revenue bonds under <br />ORS 288.805 to 288.945. <br /> <br />Resolution- 1 <br /> <br /> <br />
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