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<br />RESOLUTION NO. 4620 <br /> <br />A RESOLUTION AUTHORIZING EXECUTION OF AN <br />INTERGOVERNMENTAL AGREEMENT WITH THE URBAN <br />RENEWAL AGENCY OF THE CITY OF EUGENE FOR <br />CENTRAL LIBRARY PROJECT FUNDING. <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. The City is in the process of constructing a new main public library on City-owned <br />property located within the Central Eugene Urban Renewal Project area (the "Downtown District"). <br /> <br />B. The Urban Renewal Agency of the City of Eugene ("Agency") has identified <br />construction of the library as the only undertaking of the Agency that qualifies for financing from <br />the Agency's urban renewal revenues collected from the Downtown District under ORS 457.440. <br /> <br />C. The City intends to issue limited obligations as part of the financing for the library <br />construction project. To the extent revenues for such purposes are available, the City and Agency <br />have agreed that all payments due with respect to the obligations and all other costs of the library <br />construction project for which other sources of funds have not been identified should be made from <br />Agency's urban renewal revenues in the manner and as described in an Intergovernmental <br />Agreement with the Agency which the City Manager should be authorized to execute on behalf of <br />the City. <br /> <br />NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br />Based on the above findings, which are hereby adopted, the City Manager is authorized to <br />execute on behalf of the City an Intergovernmental Agreement with the Urban Renewal Agency of <br />the City of Eugene that is consistent with the adopted findings. <br /> <br />The foregoing Resolution adopted the 28th day of February, 2000. <br /> <br />tf- c~:!Z <br /> <br />Resolution <br />