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<br />A new authorization for $8,000,000 of Electric System Revenue Bonds is being requested under the
<br />provisions of the Uniform Revenue Bond Act. The bonds issued pursuant to this authorization will
<br />provide funds for a) final design work associated with relocation of certain EWEB operating functions
<br />to a new site in West Eugene, b) final design work for remodel of the existing downtown EWEB
<br />headquarters building, and c) certain planning work necessary for future disposal of surplus EWEB
<br />property located at the downtown riverfront site.
<br />
<br />The chart below summarizes the authorizations requested at this time, which equal $12,854,280 of new
<br />money bonds and $13,500,000 of refunding bonds, for a total authorization of $26,354,280.
<br />
<br />Amount
<br />Amount Previously Amount of Bonds
<br />Series Issued Issued
<br />Authorized to be Issued in 2006
<br /> New Money Refunding
<br />1994 $27,000,000 $27,000,000
<br />1994C $31,500,000 $31,500,000
<br />1996 Bonds $50,000,000 $19,890,000 $13,500,000
<br />1998A $15,000,000 $12,455,000
<br />Conservation $6,000,000 $1,800,000
<br />2002B $12,000,000 $11,000,000
<br /> Total 1993 Election $141,500,000 $103,645,000 $13,500,000
<br />
<br />2001B $37,570,719
<br />2003 New Project Bonds $ 7,000,000
<br />2005 Bonds $ 2,500,000
<br /> Total 2001 URBA $50,000,000 $47,070,719 $2,929,280
<br />
<br />Series 2005 – 2005 URBA $10,000,000 $8,075,000 $1,925,000
<br />
<br />Proposed:
<br />Series 2006 – 2006 URBA $8,000,000 $8,000,000
<br />
<br />Total – All Bonds $209,500,000 $158,790,719 $12,854,280 $13,500,000
<br />
<br />Series 2005 – Carmen Smith Project
<br />Proposed 2006 URBA – headquarters remodel and West Eugene operations facility projects
<br />
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<br />RELATED CITY POLICIES
<br />There are no City policies related to this item.
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<br />COUNCIL OPTIONS
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<br />The council can approve or not approve this resolution. If the council does not approve the resolution,
<br />EWEB will not be able to proceed with the URBA process to allow for issuance of the bonds to finance
<br /> L:\CMO\2006 Council Agendas\M060410\S0604102E.doc
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