CC Minutes - 09/13/99 Mtg - Laserfiche WebLink

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June 14, 1999 Work Session; June 28, 1999 Work Session; July 12, 1999 Council Meeting; July 14 Work Session; July 21, 1999 Work Session; July 26, 1999 Council Meeting; July 28, 1999 Work Session; August 9, 1999 Work Session B. Resolution No. 4601 Providing for the Issuance and Sale by the City of Eugene, Oregon, Acting by and through the Eugene Water and Electric Board, of Water Revenue Bonds in One or More Series in an Aggregate Principal Amount not to Exceed $36,000,000, Declaring Official Intent to Reimburse Expenditures, Providing for Publication of Notice, and Related Matters C. Resolution No. 4602 Authorizing Interim Financing for In-City Local Improvement Projects in a Maximum Outstanding Principal Amount of $4,000,000, and Repealing Resolution No. 4406 Mr. Meisner, seconded by Ms. Nathanson, moved to approve the items on the consent calendar. Mr. Rayor pulled item B from the consent calendar and notified other members of a potential conflict of interest. Mr. Meisner pulled item A and offered a correction to the July 14 work session minutes. Ms. Nathanson offered a correction to the minutes of the July 28 work session. Mr. Kelly offered a correction to the minutes of June 28. Members unanimously approved item C of the consent calendar. Members unanimously approved item A of the consent calendar, as amended. Mr. Pap~ said that he was concerned over the authorization amount of item B. He clarified that it would be a carte blanche $36,000,000 potential bonding authority. City Attorney Glenn Klein reminded members that there was no vote requirement, but there was a remonstrance provision built in so that if the voters would like an opportunity to vote on it, they could go through the petition process. Mr. Lee asked about public notice. Mr. Klein said that Eugene Water and Electric Board (EWEB) would have to go through the public notice process under the State Uniform Revenue Bond Act. John Yanov from the EWEB Water Division said that EWEB did not plan to immediately issue the $36 million bonds. He said EWEB was looking for authorization to cover a five- to seven-year period and the $36 million would cover that entire period. He went on to say that EWEB was initially going to issue $15-$20 million dollars in bonds to cover immediate work in the next few years. He said that this was an initial step of the Water Supply Plan, which covers a 40-year period. In response to a question by Mr. Pap~ regarding rates, he said that a rate increase to pay MINUTES--Eugene City Council September 13, 1999 Page 3 7:30 p.m.