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Utility System Conservation Revenue Bonds to refund $14,145,044 of <br />the 1955 Bonds, and to pay the cost of an energy conservation <br />program undertaken by the City acting by and through the Board. <br />Section 2. Pravisians far Issuance and Sale of Bands. The <br />terms and provisions of such bonds and the terms upon which the <br />same may be sold shall be as set forth in this ordinance; provided, <br />however, that the Board is hereby authorized to prescribe by <br />resolution ~"Bond Resolution"} all such terms and conditions in <br />addition to and not in conflict with those set forth herein. The <br />terms and conditions prescribed by this ordinance are as follows: <br />a. The bonds shall not be sold at a price less than <br />ninety-eight and f ive-tenths per cent ~ 9 S . 5 ~ } of the par value <br />thereof, shall mature not later than eleven years from the <br />date thereof, and shall bear interest at such rate or rates <br />per annum not exceeding thirteen per cent ~13~} per annum. <br />b. Such bonds shall include a statement on their face <br />to the effect that ~1} they do not in any manner constitute <br />a general obligation of the Board, or of the City of Eugene, <br />or create a charge upon the tax revenues of said City, or upon <br />any other revenues or property of said City, or property of <br />the Board, but are a charge upon and payable solely from the <br />revenues of the Electric Utility System of the City, or any <br />portion thereof, yr from any other moneys lawfully available <br />therefor, pledged to the payment thereof; and ~2} the holders <br />thereof may only look for repayment to the revenues of the <br />Electric Utility System which are pledged to the payment <br />ordinance - 2 <br />