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ORDINANCE No. 19377 <br />AN ORDINANCE AUTHORIZING THE CITY of EUGENE, <br />ACTING BY AND THRoUGfl THE EUGENE WATER & <br />ELECTRIC BOARD, TO ISSUE UP TO $~~,ooo,ooo <br />AGGREGATE PRINCIPAL AMOUNT of REVENUE BONDS oR <br />OTHER EVIDENCES OF INDEBTEDNESS OF THE CITY, <br />PAYABLE SOLELY FROM NET REVENUES oR ANY PQRTI4N <br />THEREQF of THE ELECTRIC UTILITY SYSTEM OF TSE <br />CITY , FQR THE PURPOSE of FINANCING I iKPRoVEMENTS <br />To THE ELECTRIC UTILITY SYSTEM of THE CITY; <br />AND PROVIDING FQR AN EFFECTIVE DATE. <br />The City Council of the City of Eugene finds that: <br />1. The Eugene Water & Electric Board has by resolution <br />requested the City Council to authorize issuance of $25,000,000 in <br />revenue bonds or other evidences of indebtedness to finance improve-- <br />ments to the Electric Utility System. <br />Z. The bond proceeds are needed to finance impravements and <br />additions to the energy management control system, headquarters <br />facility, repair shops, substations and other facilities of the <br />Electric Utility System. These improvements are needed in the <br />judgment of the Board. Now, therefore, <br />THE CITY of EUGENE DOES ORDAIN AS FOLLOWS: <br />Section 1. Authori2ation of Electric Utilit S stem Revenue <br />Bonds. The City of Eugene, Oregon, acting by and through the <br />Eugene Water & Electric Board, is hereby authorized to borrow <br />money and issue revenue bonds or other evidences of indebtedness <br />payable solely from the net revenues or any portion thereof of the <br />Electric Utility System of the City at one time or from time to <br />time in an amount not to exceed in the aggregate $25,000,000, for <br />the purpose of financing impravements to the Electric Utility <br />System of the City. <br />1 ~- Ordinance <br />