Ordinance No. 19551 - Laserfiche WebLink

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aRDINANcE Na. AN ORDINANCE AUTHQRIZING THE ISSUANCE OF REVENUE BANDS GF THE CITY OF EUGENE Ta PAY THE CASTS OF AIRPORT IMPROVEMENTS; PRESCRIBING THE TERMS aF THE BANDS AND THE TERMS UNDER WHICH BANDS PAYABLE FRAM AIRPORT REVENUES MAY BE ISSUED IN THE FUTURE; PLEDGING AND LIIKITING THE USE aF AIRPORT REVENUES; PROVIDING FOR RELATED MATTERS; AND DECLARING AN EMERGENCY. THE CITY of EUGENE ORDAINS AS FQLLOWS: SECTIQN 1. FINDINGS, DEFINITIQNS AND RULES QF CCNSTRUCTIaN 1.1. Findin s and Determinations. 1.1.1. The City of Eugene currently owns and operates Mahlon Sweet Airport, and desires to finance capital improvements to the Airport. 1.1.2. The airlines operating at the Airport have agreed to finance a portion of the costs of the improvements through the payments of terminal and airfield fees and charges. The City finds ~t advantageous to issue revenue bonds to finance the desired improvements to the Airport. The bonds will be payable from the rentals and landing fees and charges payable by the airlines, and from other revenues received by the City in connection with the operation of the Airport, as provided in this ordinance. 1.1.3. The bonds will be issued pursuant to the Qregon Uniform Revenue Bond Act ~aRS 288.805 to 288.945. an September 9, 1987,,the City adopted a resolution authorizing the issuance of bonds in accordance with oRS 288.815. Qn September 15, 1987, the City published a notice in The Eugene Rec~lster-Guard, a newspaper of general circulation within the City of~~~~~Eugene, describing the purposes for which the revenue bonds are to be sold, the date and number of the authorizing resolution, the expected source of revenue for repayment of the revenue bonds, the estimated principal amount of the bonds to be sold, the procedures by which the question of issuing the revenue bonds may be referred to a vote, the time in which signatures required to refer the resolution must be gathered, and the fact that the authorizing resolution was available for inspection, all as required by QRS 288.815~6~. The City did not. receive petltians from any City electors petitioning that the issuance of bonds be referred to the voters of the City within the 60-day period fallowing publication of the notice, and the City now adopts this ordinance to finalize the sale of the bonds authorized by its Resolution No. 4051. Page 1 - ordinance