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ORDINANCE NO. ~ ~ 3 ~1 <br />AN ORDINANCE PROVIDING FOR THE ISSUANCE AND <br />SALE FROM TIME To TIME BY THE CITY OF EUGENE, <br />ACTING BY AND THROUGH THE EUGENE WATER & <br />ELECTRIC BOARD, OF NOT EXCEEDING $Z5 MILLION <br />AGGREGATE PRINCIPAL AMOUNT OF REVENUE BONDS <br />4R OTHER EVIDENCES of INDEBTEDNESS OF SAID <br />CITY, PAYABLE SOLELY FROM NET REVENUES OR ANY <br />PORTION THEREOF of THE ELECTRIC UTILITY <br />SYSTEM of SAID CITY, QR FROM ANY OTHER MONIES <br />LAWFULLY AVAILABLE THEREFOR, FOR THE PURPOSE <br />of FINANCING IMPROVEMENTS TO THE ELECTRIC <br />UTILITY SYSTEM; PROVIDING FOR CERTAIN OTHER <br />MATTERS IN CONNECTION THEREWITH; AND DECLARING <br />AN EMERGENCY. <br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br />Sect ion 1. Findin s and Determinations. The City Counci 1 <br />of the City of Eugene, Oregon, hereby finds and determines that: <br />a. The elector s of the City approved at an election <br />duly held on March 25, 1986, Ordinance No. 19377 enacted by <br />the City Council and approved by the Mayor on February 12, <br />1986, authorizing the City, acting by and through the Eugene <br />Water & Electric Board, to issue up to $25 million aggregate <br />principal amount of revenue bonds or other evidences of <br />indebtedness of the City, payable solely from the net <br />revenues or any portion thereof of the Electric Utility <br />System of the City, or from any other monies lawfully <br />available therefor, for the purpose of financing improvements <br />to the Electric Utility System; and <br />b. Section 2 of Ordinance No. 19377 requires that all <br />p <br />terms and conditions of the bands or other evidences of <br />indebtedness, and the terms upon which the same may be sold, <br />shall be prescribed by Ordinance. <br />Ordinance - 1 <br />