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COUNCIL OPTIONS <br />The council can approve or not approve the resolution. The net billing contract with BPA carries a <br />provision that requires EWEB to consider the feasibility and advisability of refunding the bonds when <br />requested to do so. If the council does not approve the resolution, EWEB will not be able to authorize <br />the refunding. As a result, BPA will not be able to realize the cost savings from the refunding bond <br />issue, and any benefit to ratepayers will not be achieved. <br /> <br />CITY MANAGER'S RECOMMENDATION <br />Staff recommends approval of the proposed resolution. <br /> <br />SUGGESTED MOTION <br />Move to adopt Resolution 4808 authorizing the issuance and sale of Trojan Project Revenue Bonds in <br />the aggregate principal amount not to exceed $55,000,000 for the purpose of refunding Trojan Nuclear <br />Project Revenue Bonds, Series of 1977, and providing for related matters. <br /> <br />ATTACHMENTS <br />A. Resolution <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Sue Cutsogeorge <br />Telephone: 682-5589 <br />Staff E-Mail: sue.l.cutsogeorge~ci.eugene.or.us <br /> <br />EWEB Contact: Jim Origliosso <br />Telephone: 484-3753 <br />E-Mail: jim. origliosso~eweb, eugene, or.us <br /> <br /> L:\CMO\2004 Council Agendas\M040913\S0409132E.doc <br /> <br /> <br />