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ar revenues of the Electric Utility System or other monies lawfully available and <br />pledged to the payment of such bonds and the interest thereon, and for the <br />investment and reinvestment of monies ar obligations in such special funds; and to <br />covenant with, and for the benefit of, the holders from time to time of such bonds <br />as the Board may determine. <br />g. The Eugene Water & Electric Board shall, by resolution, determine <br />the amount or amounts required far the purposes for which the monies are <br />borrowed at any particular time or times, and shall also determine that any and all <br />acts, conditions and things required to exist, to happen and to be performed <br />precedent to and in the issuance of such bands exist, have happened and have been <br />performed in due time, form and manner as required by the constitution and <br />statutes of the State of Oregon and the Charter of the City of Eugene. <br />h. The bonds or other evidence of indebtedness shall not be sold until <br />the following actions have taken place: <br />(1) Legal opinions have been rendered by bond counsel for the <br />Eugene Water ~ Electric Board that the bonds are duly and legally <br />authorized and do not constitute general obligations of the City of Eugene <br />and qualify for tax exempt status. <br />(2) General counsel for the City of Eugene has reviewed all <br />resolutions of the Eugene Water & Electric Board enacted pursuant to this <br />Ordinance and has determined that such resolutions do not conflict with the <br />terms and conditions prescribed by this Qrdinance. <br />~3~ The City Manager is given written notice in advance of each <br />Ordinance - 5 <br />