Resolution No. 4616 - Laserfiche WebLink

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monies or obligations so pledged and thereafter received by EWEB shall immediately be subject to the lien of such pledge without any physical delivery or further act. (f) Without limiting the powers extended to EWEB to determine terms and conditions of the bonds and other evidences of indebtedness in addition to and not in conflict herewith, EWEB is authorized, in its discretion, and to the extent permitted by law, to provide in connection with the authorization of any issue of such bonds, that such bonds and the interest thereon may be payable, collectible or registerable at any place or places within or without the State of Oregon; that such bonds may be redeemable, either at the option of EWEB, or by the operation of any sinking fund provided for the issue, at such time or times and at such price or prices as EWEB may determine, whether or not involving a premium over the principal amount of such bonds, provided, however, that any such premium shall not exceed four percent (4%) of the principal amount of the bonds to be redeemed; for the appointment of such fiscal or paying agents, registrars, trustees or other agencies for any such issue of bonds, as EWEB may determine, for the benefit and protection of the holders of such bonds; for the deposit of funds including bond proceeds with such agents or trustees for any lawful purpose for which such funds may be deposited; for the manner of disbursement of, and accounting for, bond proceeds; for the rights and remedies of the holders of such bonds; for the establishing and maintaining of special funds or accounts to ensure the payment when due and payment of the principal of and interest on such bonds and for other purposes, from proceeds of the sale of bonds or revenues of the Electric System or other monies lawfully available and pledged to the payment of such bonds and the interest thereon, and for the investment and reinvestment of monies or obligations in such special funds; to reduce interest costs on such bonds, EWEB may obtain bond insurance or other credit enhancement and may execute and deliver any necessary or appropriate credit enhancement agreement; and to covenant with, and for the benefit of, the holders from time to time of such bonds or credit enhancement provider as EWEB may determine. (g) EWEB shall, by resolution, determine the amount or amounts required for the purposes for which the monies are borrowed at any particular time or times, and shall also determine that any and all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of such bonds exist, have happened and have been performed in due time, form and manner as required by the Constituti'on and statutes of the State of Oregon and the Charter of the City of Eugene. (h) The bonds or other evidence of indebtedness shall not be sold until legal opinions have been rendered by bond counsel for EWEB that: 1. The bonds are duly and legally authorized and do not constitute general obligations of the City. 2. None of the resolutions ofEWEB enacted pursuant to this Resolution conflict with the terms and conditions prescribed by this Resolution. Resolution - 3