Ordinance No. 19173 - Laserfiche WebLink

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l9/ 3~3 THE CITY Ok' EUGENE DOES QRDATN AS Fo~LOWS: Section 1. authorization ~f Electric Utility Sstem Revenue Bonds. The City of Eugene, Oregon, .acting by and through the Eugene Cuter & Electric Board, is hereby auth- orized to borxow money and issue. revenue bonds or other evidences of indebtedness payable solely fxom the net reve- nues ar any portion thereof ~f the Electric Utility System of the City, or frog, any other moneys lawfully available therefor, at one time or from time to time in an amount not to exceed in the agg,regate,$3Q,~p4,044, for the purpose of f lnanca.ng energy conservation measures and undertakings on behalf of customers of the Electric Utility System; pro- vided, however, that none of the bonds or other evidences of indebtedness shall be issued unless the Bonneville Power Administrator has agreed to pay the principal thereof and interest thereon by agree~.ent satisfactory to the Board and the City Council. Section 2. Terms and Conditions of Bonds, All terms and conditions of the bonds or other evidences of indebted- ness and the terms upon which the same may be sold shall be prescribed by Ordinance. Ho~rever, such bonds or other evi- dences of indebtedness shall mature not later than thirty years from the date thereof and shall bear interest at a net effective rate not to exceed thirteen per centum X1307 per annum. Such bonds or other evidences of indebtedness shall include a statement on their face to the effect: ~ l ~ that they do not in any manner constitute a general obligation of the Eugene Water & Electric Board, or of the ,City of Eugene, or create a charge upon the tax revenues of the City, or upon any other revenues or property of the City, o~r prop-~ erty of the Board, but are a charge upon and payable solely from the revenues of the Electric Utility System of the City, or any portion thereof , or from any other moneys lawfully .available therefor, pledged to the payment thereof; ~2~ that the holders thereof may only look for repayment to the revenues of the Electric Utility System which are pledged to the payment thereof, and may not directly, or indirectly, be paid or compensated through the property of the City, or the Eugene Water & Electric Board, or by ar through the taxing power of the City. Section 3. Effective Date. This Ordinance shall take effect immediately upon its appxaval by the voters of the City of Eugene. Section 2. The above Ordinance No. ~Q~"~~ referred to the voters for their appra~al or refection shall be placed upon the official ballot by the City Recorder. There shall be furnished to Ordinance - 2