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RESOLUTION NO. 4656 A RESOLUTION AMENDING RESOLUTION 4616 AND AUTHORIZING THE CITY OF EUGENE, ACTING BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD, TO ENTER INTO A REVOLVING LINE OF CREDIT The City Council (the "Council") of the City of Eugene, a municipal corporation of the State of Oregon (the "City"), finds: A. That the electors of the City approved at an election duly held on May 18, 1993, Resolution No. 4360 adopted by the Council on February 17, 1993, authorizing the City, acting by and through the Eugene Water & Electric Board ("EWEB"), to issue up to One Hundred Fifty Million Dollars ($150,000,000) aggregate principal amount of revenue bonds or other evidences of indebtedness of the City, payable solely from the net revenues or any portion thereof of the Electric Utility System of the City (the "Electric System"), or from any other moneys lawfully available therefor, for the purpose of financing improvements to the Electric System, including, but not limited to, the acquisition of energy conservation. B. That Section 2 of Resolution No. 4360 requires that all terms and conditions ofthe bonds or other evidences of indebtedness, and the terms upon which the same may be sold, shall be prescribed by resolution. C. That on December 7, 1999 EWEB adopted a Resolution authorizing the establishment of a commercial paper program for funding conservation loans to Electric System consumers pursuant to Resolution No. 4360 (the "Project") and the issuance of commercial paper notes in an aggregate principal amount not to exceed Six Million Dollars ($6,000,000) for the purpose of financing all or a portion of EWEB's costs relating to the Project, the funding of any debt service reserves and the payment of costs of issuance. D. That the Council on February 28, 2000 adopted its Resolution No. 4616 authorizing the issuance of the commercial paper notes or other evidence of indebtedness to finance the Project. E. That the City and EWEB have determined that it is in the interests of the City and EWEB to finance the Project through the establishment of a revolving line of credit or through the issuance of commercial paper notes depending upon market conditions at the time of financing, and have further determined that it is advisable and in the interests of the City and EWEB to authorize EWEB to select a bank ("Bank") as the provider of the line of credit, and to clarify that Resolution No. 4616 authorizes EWEB to enter into lines of credit. F. That on December 5, 2000, EWEB adopted a resolution authorizing a line of credit subject to the Council approving this Resolution.