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<br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Adoption of Resolution 4871 Authorizing the Issuance and Sale of Electric Utility <br />System Revenue Bonds in the Aggregate Principal Amount of Not to Exceed Eight <br />Million Dollars ($8,000,000) for the Purposes of Financing Capital Improvements to the <br />Electric Utility System and Providing for Related Matters <br /> <br /> <br />Meeting Date: May 8, 2006 Agenda Item Number: 2G <br />Department: Central Services Staff Contact: Sue Cutsogeorge <br />www.eugene-or.gov Contact Telephone Number: 682-5589 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br /> <br />The Eugene Water & Electric Board (EWEB) is requesting authority to proceed with the issuance of <br />Electric Utility System Revenue Bonds in the amount of $8,000,000, for design and development work <br />associated with relocation of certain EWEB operating functions to a new site in west Eugene, design <br />work for remodel of the existing downtown EWEB headquarters building, and preliminary planning <br />work related to EWEB property located at the downtown riverfront site. This is the second of two <br />resolutions that are being brought back to the council in accordance with direction given at the April 10 <br />meeting to split the bond issuance authority into two parts. <br /> <br /> <br />BACKGROUND <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 (URBA). The bonds issued pursuant to this authorization <br />will provide funds for design and development work associated with relocation of certain EWEB <br />operating functions to a new site in west Eugene, design work for remodel of the existing downtown <br />EWEB headquarters building, and preliminary planning work related to EWEB property located at the <br />downtown riverfront site (the “2006 New Project”). The bonds will also provide funding for necessary <br />reserves and the costs of bond issuance. <br /> <br />At the April 10 meeting, the council requested additional background information on the projects that <br />would be funded with these bonds. In response to that request, the following information is included as <br />attachments to this Agenda Item Summary: <br /> <br /> <br />?Eugene Water & Electric Board Revenue Bond Authorization Request, which sets out summary <br />information on the way the bond proceeds will be used for the west Eugene project and planning <br />work for the downtown site (Attachment B) <br /> <br />?Riverfront Site Planning Project, which provides summary information about the planning effort <br />for this site (Attachment C) <br /> <br />?Site map for the Roosevelt site (Attachment D) <br /> <br />?Questions and Answers, which provides answers to some questions asked about the project by <br />councilors (Attachment E) <br /> L:\CMO\2006 Council Agendas\M060508\S0605082G.doc <br />