Resolution No. 4616 - Laserfiche WebLink

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the interest thereon may be payable, collectible or registerable at any place or places within or without the State of Oregon; for the appointment of such fiscal or paying agents, registrars, trustees or other agencies for any such issue of notes, as EWEB may determine, for the benefit and protection of the holders of such notes; for the deposit of funds including note proceeds with such agents or trustees for any lawful purpose for which such funds may be deposited; for the manner of disbursement of, and account for, note proceeds; for the rights and remedies of the holders of such notes; 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 notes 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 notes and the interest thereon, and for the investment and reinvestment of monies or obligations in such special funds; and to covenant with, and for the benefit of, the holders from time to time of such bonds as EWEB may determine. EWEB is also authorized to appoint one or more credit facility banks, to execute and deliver any credit facility agreement, security agreement, or other agreements or documents in connection with the sale of the notes or for the provision of credit enhancement, liquidity or marketing or remarketing of the notes. (e) 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 notes exist, have happened and have been performed in due time, form and manner as required by the Constitution and statutes of the State of Oregon and the Charter of the City of Eugene. (t) The notes or other evidence of indebtedness shall not be sold until legal opinions have been rendered by bond counsel for EWEB that: 1. The notes 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. Section 3. - Reportine. EWEB shall submit to the City by May 1 of each year the following annual reports commencing after the first sale of bonds or other evidences of indebtedness and each year thereafter until the bonds have been paid and retired: A report on bond payments describing amounts paid and amounts scheduled to be paid and the source of such payments. If the contents of such report is included in EWEB' s yearly audit report, EWEB may comply with this section by transmitting a copy of its yearly audit report to the City. Resolution - 5