Laserfiche WebLink
Section ~. Provisions for Issuance and Sale of Bands. The <br />terms and conditions of such bonds or other evidences of indebted- <br />Hess and the terms upon which the same may be sold shall be as <br />set forth in this Ordinance; provided, however, that the E ugene <br />water & Electric Board is hereby authorized to prescribe by <br />resolution all such terms and conditions in addition to and no t <br />in conflict with those set forth herein. The terms and conditions <br />prescribed by this Ordinance are as follows: <br />a. The bonds or other evidences of indebtedness shall <br />not be sold at a price less than ninety-six percent ~ 96~} of <br />the par amount thereof, shall mature not later than thirty <br />X30} years from the date thereof and shall bear interest at <br />such rate or rates per annum not exceeding thirteen percent <br />~13~} per annum. <br />b. Such bonds and other evidences of indebtedness <br />shall include a statement on their face to the effect: <br />~1~ That they do not in any manner constitute any <br />general obligation of the Eugene water & Electric <br />Board, or of the City of Eugene, or create a charge <br />upon the tax revenues of said City, or upon any other <br />revenues ar property of said City, or property of said <br />Board, but are charged upon and are payable solely from <br />the revenues of the Electric Utility System of the <br />City, or any portion thereof, or from any other monies <br />lawfully available therefor, pledged to the payment <br />thereof; <br />~~} That the holders thereof may only look for <br />Ordinance - 2 <br />