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Ordinance No. 19692
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Ordinance No. 19692
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6/10/2010 3:46:13 PM
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Council Ordinances
CMO_Document_Number
19692
Document_Title
Providing for issuance & sale by City of Eugene, acting by and through EWEB, of not more than $15,000,000 aggregate principal amount of revenue bonds. (See ordinance for complete description.)
Adopted_Date
6/11/1990
Approved Date
6/11/1990
CMO_Effective_Date
6/11/1990
Signer
Emily Schue, Council Pres
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thereof, and may not directly, or indirectly, be paid or <br />compensated through the property of the City, or the Board, <br />or by or through the taxing power of the City. <br />c. The Board may provide for the refunding of any bonds <br />by the issuance and sale of refunding bonds or other evidences <br />of indebtedness upon such terms and conditions as it may <br />prescribe, and pledge to such refunding bonds or other <br />evidences of indebtedness all ar such part of the net revenues <br />of the Electric Utility System, or the portion thereof, or any <br />other moneys lawfully available therefor, as it may determine; <br />provided, however, that such refunding bonds or other <br />evidences of indebtedness shall not be sold at a price less <br />than ninety-six percent X96%~ of the par amount thereof, shall <br />mature not later than ten years from the date thereof, and <br />shall bear interest at such rate or rates per annum not <br />exceeding thirteen per cent ~13%~ per annum. <br />d. Provision shall be made for the complete amortization <br />of the principal amount of the bands issued under the <br />authority of this Ordinance within a period of eleven years <br />from the date of issuance, through the medium of serial or <br />sinking fund bonds or otherwise, as the Board may determine. <br />e. Subject only to the provisions of resolutions <br />heretofore adopted by the Board providing for the issuance of <br />bonds payable from the net revenues of the Electric Utility <br />System, any pledge of the revenues or other moneys or <br />obligations of the Electric Utility System made by the City <br />Ordinance - 3 <br />
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