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H. <br /> The Commission and its financial advisor recommend that approximately <br />$________________ in additional revenue bonds be issued to fund the projected <br />increased cost of the capital projects on the Commission’s 20-Year Project List. <br /> <br />I. <br /> Pursuant to Ordinance No. 20345 adopted on May 23, 2005, the Eugene <br />City Council adopted a restated and amended Agreement that, in part, created the <br />Commission as an intergovernmental entity pursuant to the provisions of ORS 190.010 <br />and 190.085. <br /> <br />J. <br /> ORS 190.080(1) provides that intergovernmental entities may issue <br />revenue bonds if the parties to the agreement approve the issuance of the revenue <br />bonds after a public hearing. <br /> <br />K. <br /> Pursuant to Resolution No. 4837 adopted on May 23, 2005, the Board of <br />Commissioners authorized the Commission to issue up to $100,000,000 of revenue <br />bonds to finance regional sewerage facilities pursuant to ORS 190.080(1)(a) and ORS <br />288.805 to 288.945 (now ORS Chapter 287A). <br /> <br />L. <br /> The Commission needs authority to issue additional revenue bonds to <br />complete the regional sewerage facilities. <br /> <br />M. <br /> The Governing Bodies desire to authorize the Commission to issue such <br />additional revenue bonds under ORS Chapter 287A. <br /> <br />N. <br /> A public hearing was held before the City Council on April 20, 2009 <br />regarding the issuance by the Metropolitan Wastewater Management Commission of up <br />to $ in additional revenue bonds to finance regional sewerage <br />facilities pursuant to ORS 190.080(1)(a) and ORS Chapter 287A. <br /> <br /> <br />NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br /> <br />Section 1. <br /> The City Council hereby approves the issuance of up to <br />$______________ in additional revenue bonds by the Metropolitan Wastewater <br />Management Commission pursuant to ORS 190.080(1)(a) and ORS Chapter 287A to <br />finance regional sewerage facilities. <br /> <br />Section 2. <br />This Resolution shall become effective immediately upon its <br />adoption. <br /> <br />The foregoing Resolution adopted the _____day of ___________, 2009. <br /> <br /> <br /> <br />Resolution - Page 2 of 3 <br /> <br />