Resolution No. 5027 - Laserfiche WebLink

Home Browse Search

EXHIBIT A FORM OF NOTICE OF REVENUE BOND AUTHORIZATION NOTICE IS HEREBY GIVEN that the City Council of the City of Eugene, Oregon (the "City ") has adopted Resolution No. on March 14 2011, authorizing the issuance of the City's revenue bonds acting by and through the Eugene Water & Electric Board ("EVVEB"). The revenue bonds will be issued in one or more series to provide funds for the purpose of financing the acquisition, design, construction, installation and equipping of certain capital improvements to the water utility purification, storage, transmission and distribution systems (collectively, the "Project "), to fund necessary reserves and to pay the costs of issuance of the revenue bonds. The costs of the Project to be funded, together with bond issuance costs and debt service reserves, are estimated not to exceed $25,500,000. In accordance with these estimates, the City expects that the revenue bonds will be issued in an aggregate principal amount of not to exceed $25,500,000. Subject to certain parameters, EWEB may establish all terms, conditions and covenants regarding the revenue bonds and the revenues which" are necessary or desirable to affect the sale of the revenue bonds. The revenue bonds will not be general obligations of the City, nor a charge upon its tax revenues, but will be payable solely from the revenues of the City's Water Utility System. If written petitions, signed by not less than 5 percent of the City's qualified electors, are filed at the Office of the City Recorder on or before , 2011 (the 61 day after the date of publication of this notice), the question of issuing $25,500,000 of water revenue bonds shall be placed on the ballot at the next legally available election date. Any such petition shall be subject to ORS 287A.150 and Sections 2.960 - 2.1005 of The Eugene Code, 1971. The Office of the City Recorder is located at 777 Pearl Street, Room 145, Eugene, Oregon 97401. Information on procedures for filing petitions may also be obtained at such address or by telephone at (541) 682 -5042. The resolution authorizing the revenue bonds is available for inspection at the Office of the City Recorder. The revenue bonds will be issued and sold pursuant to ORS 287A.150, and this notice is published pursuant to ORS 287A.150(4). A -1