Resolution No. 4394 - Laserfiche WebLink

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RESOLUTION NO. t.3c, A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF EUGENE, ACTING BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD, OF NOT ExCEEDING TWENTY -SEVEN MULLION DOLLARS ($27,000,000) AGGREGATE PRINCIPAL AMOUNT OF REVENUE BONDS OR OTHER EVIDENCES OF INDEBTEDNESS , OF SAID CITY, PAYABLE SOLELY FROM NET REVENUES OR ANY PORTION F OF THE ELECTRIC UTILITY SYSTEM OF SAID CITY, OR FROM ANY OTHER MONIES LA LY AVAILABLE THEREFOR, FOR THE PURPOSE OF FINANCING IMPROVEMEWTS TO THE ELECTRIC UTILITY SYSTEM; AND PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THERE ITH. The City Council of the City of Eugene finds that: (a) The electors of the City of Eugene, Oregon (the - "City ") approved at an election duly held on May 18, 1993, Resolution No. 4360 adopted by the City Council on February 17, 1993, authorizing the City, acting by and through the Eugene Water & Electric Board, to issue up to One Hundred Fifty Million Dollars ($150,000,000) aggregate principal amount of revenue bonds or other evidences of indebtedness of the City, payable solely from the net revenues or any portion thereof of the Electric Utility System of the City, or from any other monies lawfully available therefor, for the purpose of financing improvements to the Electric Utility System.; and (b I Section 2 of Resolution No. 4360 requires that all terms and conditions of the bonds or other evidences of indebtedness, and the terms upon which. the same may be sold, shall be prescribed by Resolution. . BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Provisions for Issuance and Sale of Bonds. The terms and conditions of such bonds or other evidences of indebtedness in an aggregate principal amount of not to exceed twenty -seven million dollars ($27,000,000) and the terms upon which the same may be sold shall be as set forth in this Resolution; provided, however, that the Eugene water & Electric Board is hereby- authorized to prescribe by resolution all such terms and conditions in addition to and not in conflict with those set forth herein. The terms and conditions prescribed by this Resolution are as follows: (a) The bonds or other evidences of indebtedness shall not be sold at a price less than ninety -six percent (96 %) of the par amount thereof, shall mature not later than thirty (30) years from the date thereof and shall bear interest at such rate or rates per annum not exceeding thirteen percent (13 %) per annum. 29327 Resolution -1- \kar d\banslsnw=k 11/12M