Item 2C: EWEB Short-Term Borrowing

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Interim Financing) plus 1.20% (subject to a floor of 1.95%); (iii) an upfront fee of fifteen basis points per annum and an unused commitment fee of fifty basis points per annum of the aggregate principal amount; and (iv) not exceed $46,355,000 in aggregate principal amount. (b)The proceeds of the Harvest Wind Project Interim Financing shall be used only for the purposes above described. (c) At any one time the maximum amount of outstanding Refunding Bonds and outstanding Harvest Wind Interim Financing shall not exceed $46,355,000, less any amount placed in an irrevocable escrow to refund the Harvest Wind Interim Financing. Section 3. Delegation of Authority for Terms of Harvest Wind Project Interim Financing; Provisions for Issuance. Pursuant to ORS 287A.300, the EWEB Treasurer or Assistant Treasurer, or any individual designated by EWEB, is hereby authorized and directed to determine, with respect to the Harvest Wind Project Interim Financing, the form of obligation and series designation, the manner of disbursement of proceeds, the maturity dates, principal amounts, redemption provisions, denominations, form and authorized signatory and other terms and conditions of the Harvest Wind Project Interim Financing because the same cannot be determined by the City Council at this time. Prior to entering into the Harvest Wind Project Interim Financing, EWEB shall: (i) prepare a plan showing that the estimated Electric Utility System revenues are sufficient to pay the estimated debt service on obligations to be issued to refund the Harvest Wind Interim Financing; (ii) adopt a supplemental bond resolution and provide a copy of such resolution to the City; and (iii) provide to the City a resolution determining that any and all acts, conditions and things required to exist, to happen and to be performed precedent to and in entering into the Harvest Wind Project Interim Financing, exist, have happened and have been performed in due time, form and manner as required by the Constitution and statutes of the State of Oregon, the Charter of the City of Eugene and this Resolution. Section 4. Declaring Intent To Reimburse. The City reasonably anticipates that the City and EWEB may incur preliminary expenditures, cost of issuance and other project expenditures that qualify as “Original Expenditures” under Treasury Regulation §1.150-2 prior to the date of issuance of the Harvest Wind Project Interim Financing, and hereby declares its official intent to reimburse itself or EWEB with proceeds of the Harvest Wind Project Interim Financing in an amount not to exceed $46,355,000. Section 5. Statement on Form of Harvest Wind Project Interim Financing. The Harvest Wind Project Interim Financing shall include a statement on its face to the effect: (a)That it does not in any manner constitute a general obligation of EWEB or of the City, or create a charge upon the tax revenues of the City, or upon any other revenues or property of the City, or property of EWEB, but is a charge upon and are payable solely from the revenues of the Electric Utility System operated by EWEB, or any portion thereof, pledged to the payment thereof; and (b)That the holders thereof may look for repayment only to the revenues of the Electric Utility System that are pledged for the payment thereof, and may not directly or 3