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. e e plan, the undergrounding of utilities in the Highway 99 area, and road im- provements on Bethel Drive. Mr. Croteau said it is important to note that a serial levy and a general obligation bond can only be used for capital projects, excluding programs such as a residential rehabilitation loan program. Responding to a question from Ms. Bascom, he said that a serial levy is within the Ballot Measure 5 $10 cap because there is no debt issue. The general obligation bond is out- side the cap. He explained that tax increment financing may be used for projects and programs other than capital projects, though only the portion that is debt financing is outside the $10 cap. Mr. Croteau reviewed the CAC's four recommendations on page 7 of the report. He noted two contingencies placed on proceeding with a serial levy or general obligation bond: 1) continue to work with the Eugene Water and Electric Board to obtain funding for burying the utilities underground; and 2) develop a project cost, below the full estimated $3 million, that taxpayers are like- ly to approve in a vote. He noted that the EWEB Board is meeting next week to discuss development of a policy to assist in these types of undergrounding projects. The recommendations of the CAC included proceeding with an update of the Whiteaker Refinement Plan and investigating the need for a land-use plan update in the Bethel Triangle area. Responding to a question from Ms. Bascom, Mr. Croteau said that $12,000-$14,000 of the $125,000 cap for the study group's effort has been spent thus far. He noted that part of that money was to pay for having EWEB proceed with the design work, but the City has yet to enter into a design agreement. In response to another question from Ms. Bascom, Mr. Boles said that the council decided to earmark the money for these two projects because of their importance. Jan Childs, Planning Division Manager, said that in addition to the proposed update of the Whiteaker Neighborhood Plan, two other projects were rated as equally important by the Planning Commission. They are comple- tion of the residential lands study and work required related to code revi- sions for implementation of State Goal 12 Transportation Rule. Mr. Boles said that the CAC couples the Whiteaker Refinement Plan update to an urban renewal district process in response to an issue raised by staff about funding projects that might come out of the plan update through that process. Responding to Mr. Robinette, Mr. Boles said that the $125,000 study funding is earmarked out of the Contingency Fund. Any remaining balance, along with funding out of next fiscal year's budget, will be applied to the refinement plan projects. Ms. Ehrman arrived at the meeting. Mayor Miller explained that the Highway 99 project will go forward as it is already funded. Under discussion is leveraging other projects along with it. MINUTES--Eugene City Council March 2, 1992 Page 2