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time or times, and shall also determine that any and all <br />acts, conditions and things required to exist, to happen and <br />to be performed precedent to and in the issuance of such <br />bonds exist, have happened and have been performed in due <br />time, form and manner as required by the constitution and <br />statutes of the State of Qr egon and the Charter of the City <br />of Eugene. <br />h. The bonds or other evidence of indebtedness shall <br />not be sold until the following actions have taken place: <br />~1~ Legal opinions have been rendered by bond <br />counsel for the Eugene Water & Electric Board that the <br />bonds are duly and legally authorized and do not <br />constitute general obligations of the City of Eugene <br />and qualify for tax exempt status. <br />~~} General counsel for the City of Eugene has <br />reviewed all resolutions of the Eugene Water & Electric <br />Board enacted pursuant to this ordinance and has <br />determined that such resolutions do not conflict with <br />the terms and conditions prescribed by this Ordinance, <br />~ 3 ~ The C ity ~~anage r i s given written notice in <br />advance of each planned sale of the date of the planned <br />sale and the principal amount of the bonds to be sold at <br />the planned sale. <br />Section 3. Re ortin . The Eugene Water & Electric Board <br />shall submit to the City the following annual reports commencing <br />after the first sale of bonds or other evidences of indebtedness <br />and each year thereafter until the bonds have been paid and <br />ordinance ~- 6 <br />