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ADMINISTRATIVE ORDER NO, 21-10-07 <br />of the City Manager <br />City of Eugene, Oregon <br />SUBALLOCATING THE CITY OF EUGENE RECOVERY ,ZONE <br />ECONOMIC DEVELOPMENT BOND ("RZEDB") AUTHORITY TO <br />LANE COMMUNITY COLLEGE DISTRICT. <br />The City Manager of the City of Eugene finds that: <br />A. Under the provisions of Chapter IV, Section 16 of the Eugene Charter of 2002, <br />the City Manager is designated as the. administrative head of the City, and is specifically <br />authorized to appoint and remove all employees (except as otherwise provided in the Charter), <br />and to enforce all ordinances of the City. <br />B. Pursuant to the American Recovery and Reinvestment Act of 2009, sections <br />140OU -1 and 140OU -2 of the Internal Revenue Code of 1986, as amended, and Internal Revenue <br />Service Notice 2009 -50, the City received an allocation of recovery zone economic development <br />bond ("RZEDB") authority in the amount of $7,389,000. <br />C. Resolution No. 5014 adopted by the City Council of the City of Eugene on <br />September 15, 2010, delegated authority to me to suballocate or transfer to, or otherwise arrange <br />for the use by, Lane Community College District of all or any portion of the City RZEDB <br />authority. <br />NOW, THEREFORE, <br />The City Manager of the City of Eugene Orders and Directs that: <br />Based upon the above findings, which are adopted, the City RZEDB authority in the <br />amount of $7,389,000 is hereby suballocated to Lane Community College District for its use in <br />issuing recovery zone economic development bonds. <br />Dated and effective this I day of December, 2010. <br />Jon R. RUIZ ~ <br />City Manager <br />Administrative Order -- Page 1 of 1 <br />