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ORDINANCE No. ~~~~~
<br />AN ORDINANCE TO ADOPT THE FINAL AMOUNT OF THE
<br />CERTIFICATES OF PARTICIPATION AND MATURITY SCHEDULE
<br />WHEREAS, on Juiy 24, 1989, the City of Eugene, Oregon the "City"}
<br />adapted Ordinance Na. 19621 approving of the issuance and sale of
<br />approximately $7,000,000 par amount tissue price} of 1989 Advance Refunding
<br />Cert7f~cates of Part~c~pat~on the "1989 Refunding Certificates"}.
<br />WHEREAS, Section 3 of Ordinance No. 19627 authorized the Finance
<br />Director to modify the aggregate par amount tissue price} and the annual
<br />maturities of the 1989 Refunding Certificates in order to effect the greatest
<br />present value cast savings for the City.
<br />WHEREAS, on July 27, 1989, the City accepted the bid of Seattle
<br />Northwest Securities Corporation and Shearson Lehman Hutton for the purchase
<br />of the 1989 Refunding Certificates.
<br />WHEREAS, pursuant to the authority of Section 3 of Ordinance No. 19627,
<br />the Finance Director has modified the aggregate par amount tissue price} and
<br />the annual maturities of the 1989 Refunding Certificates to be as follows:
<br />Principal Amount: $6,800,000
<br />Maturit Date Amount
<br />June 1, 1992 $ 0
<br />June 1, 1993 360,000
<br />June 1, 1994 315,000
<br />June 1, 1995 395,000
<br />June 1, 1996 425,000
<br />June 1, 1997 450,000
<br />Maturit Date Amount
<br />June 1, 1998 475,000
<br />June 1, 1999 505,000
<br />June 1, 2000 540,000
<br />June 1, 2001 515,000
<br />June 1, 2002 610,000
<br />$2,090,000 Term Certificates due June 1, 2005 with mandatory redemptions in
<br />part by lot at 100% of the principal amount thereof as follows:
<br />Redem tion Date Amount
<br />June 1, 2003
<br />June 1, 2004
<br />June 1, 2005
<br />$ 650,000
<br />695,000
<br />145,000
<br />NOW, THEREFORE, the City of Eugene does ordain as follows:
<br />Section 1. The modification by the Finance Director of the par amount
<br />tissue price} and annual maturities of the 1989 Refunding Certificates is
<br />hereby ratified, affirmed and approved, and Ordinance No. 19627 is amended to
<br />conform with the revisions made by the Finance Director noted above.
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