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Section 2. Provisions for Issuance and Sale of Bonds. The terms and conditions <br />of such bonds or other evidences of indebtedness and the terms upon which the same may <br />be sold shall be as set forth in this Ordinance; provided, however, that the Eugene water <br />& Electric Board is hereby authorized to prescribe by resolution all such terms and <br />conditions in addition to and not in conflict with those set forth herein. The terms and <br />conditions prescribed by this Ordinance are as follows: <br />a. The bonds or other evidences of indebtedness shall not be sold at a <br />price less than ninety-suc percent (96%) of the par amount thereof, shall mature not <br />later than thirty (30) years from the date thereof and shall bear interest at such <br />rate or rates per annum not exceeding thirteen percent (13%) per annum. <br />b. Such bonds and other evidences of indebtedness shall include a <br />statement on their face to the effect; <br />(1) That they do not in any manner constitute any general <br />obligation of the Eugene Water ~ Electric Board, or of the City of Eugene, <br />or create a charge upon the tax revenues of said City, or upon any other <br />revenues or property of said City, or property of said Board, but are charged <br />upon and are payable solely from the revenues of the Electric Utility System <br />of the City, or any portion thereof, ar from any other monies lawfully <br />available therefor, pledged to the payment thereof; <br />(2) That the holders thereof may only look for repayment to the <br />revenues of the Electric Utility System which are pledged to the payment <br />thereof, and may not directly, ar indirectly, be paid or compensated through <br />the property of the City, or the Eugene water & Electric Board, or by and <br />Ordinance • 2 <br />