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RESOLUTION NO. 5026 A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC UTILITY SYSTEM REVENUE BONDS FOR THE PURPOSE OF FINANCING IMPROVEMENTS TO THE ELECTRIC UTILITY SYSTEM IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED THIRTY SIX MILLION DOLLARS ($36,000,000); AUTHORIZING THE ISSUANCE AND SALE OF ELECTRIC UTILITY REVENUE REFUNDING BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED FORTY SIX MILLION EIGHT HUNDRED THOUSAND DOLLARS ($46,800,000) TO REFUND SERIES 1998A TAXABLE BONDS AND SERIES 2001B BONDS; AND PROVIDING FOR RELATED MATTERS The City Council of the City of Eugene finds that: A, Oregon Revised Statutes ( "ORS ") Section 287A.150 and 287A.360 authorizes the City of Eugene, Oregon (the "City ") to issue revenue bonds and revenue refunding bonds payable from identified revenues of the City. The City, acting by and through the Eugene Water & Electric Board ( "EWEB "), owns and operates an electric - utility system and. related facilities and systems. B, On. June 16, 1986, EWEB adopted.. a resolution authorizing and providing for the issuance, from time to time, of City of Eugene, Oregon Electric Utility System Revenue Bonds to be equally and ratably secured by the pledge of . revenues, funds and accounts thereunder (as amended and supplemented, the "Bond Resolution"), . . C. The Bond Resolution provides in part that the principal of, premium, if any, and interest on the bonds issued thereunder shall not be payable from any funds of the City nor constitute a general obligation of the City or create a charge upon the tax revenues or any other property or- revenues of the City. D. EWEB has requested by resolution that the City Council adopt this Resolution -in part to set the terms for and authorize the issuance of not to exceed $36,000,000 in aggregate principal amount of electric utility system revenue bonds (the "New Money Bonds ") for the purpose of financing the acquisition, design, construction, installation and equipping of certain capital improvements to the electric utility generating, transmission and distribution systems (collectively, the "New Money Project "), to fund necessary reserves and to pay the costs of issuance of New Money Bonds. E. On May 18, 1993, the electors of the City of Eugene authorized issuance of up to $150,000,000 of electric system revenue bonds (the "Election Authorization "). Subsequently, the City Council adopted Resolution No. 4571 authorizing the issuance of electric revenue bonds in an amount not to exceed $15,000,000. Pursuant to -that authorization, the City, acting by and through EWEB, issued the City of Eugene, Oregon Electric Utility System Revenue Bonds, Series 1998A (Federally Taxable) in the