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e Mr. Holmer said he felt elimination of the Audit Committee would be a grave deviation from the council's responsibility. Mr. Holmer moved, seconded by Mr. Boles, that the delete lines be deleted from Section 2.013 of an ordinance concerning the Audit Committee. The motion was defeated by a vote of 4:3; Mr. Boles, Mr. Green, and Mr. Holmer voting in favor, and Mayor Miller, Ms. Bascom, Ms. Schue, and Ms. Ehrman voting in opposition. CB 4244--An ordinance concerning the Audit Committee, Citizen Involvement Committee, Joint Parks Committee, and Sister Cities Commission; amending Section 2.013 of the Eugene Code, 1971; and declaring an emergency. Ms. Schue moved, seconded by Mr. Holmer, that the bill, with unanimous consent of the council, be read the second time by council bill number only, and that enactment be considered at this time. Roll call vote; the motion carried unanimously. Ms. Schue moved, seconded by Mr. Holmer, that the bill be approved and given final passage. Roll call vote; the motion carrying, 5:1, with Councilor Holmer voting against, the bill was declared passed and became Ordinance No. 19714. e VII. PROPERTY TAX LIMITATION MEASURE Tony Mounts, Acting Financial Management Services Director, reviewed a staff memo on the potential impact of Ballot Measure 5. In response to a question from Mr. Green, Mr. Mounts said he had not talked directly to anyone from the school system about the measure. However, he said the measure would have a significant impact on the schools. He said the initiative stated that during the initial five years the State would have to make up for lost revenues. He said the formula for this was unclear and the revenues would have to come out of the State General Fund or from a new revenue source. He said the measure did not say what would happen to school funding after the five-year period. Ms. Schue said the League of Oregon Cities Board met with the School Board's Association Board last spring, and the groups agreed that the measure would not be good for schools. Mayor Miller said that although he was opposed to Measure 5, he felt that property tax limitation would continue to be discussed by the public. He asked if the council was interested in drafting a list of issues concerning property tax limitation. He said the public might pass such a measure out of ignorance of its possible consequences on local government. He suggested the e MINUTES--Eugene City Council August 8, 1990 Page 10