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Item 2G: Resolution Authorizing EWEB Bonds for Roosevelt and Downtown Projects
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Item 2G: Resolution Authorizing EWEB Bonds for Roosevelt and Downtown Projects
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Agenda Item Summary
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5/8/2006
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ATTACHMENT E <br /> <br />Eugene Water & Electric BoardApril 25, 2006 <br />URBA Process - Bond Authorization Summary <br /> <br />1997 - 2005 <br />Electric Utility <br />URBAAuthorizedRemaining <br />DateAmountAuthorizationPurpose <br />1997$15,000,000 -Telecommunications <br />2001$50,000,000$2,930,000Electric System Improvements <br />2001$60,000,000$30,000,000Power Supply Contingency <br />2001$60,000,000$30,000,000Pension Bonds <br />2005$15,000,000$1,925,000Carmen Smith, Building Project <br />Water Utility <br />URBAAuthorizedRemaining <br />DateAmountAuthorizationPurpose <br />1999$36,000,000$14,595,000Water Supply Plan <br />2002$11,000,000$1,000,000Ground Water Wells <br /> <br /> <br />2. Please provide additional information on the purpose of the $8 million funding <br />request. <br /> <br />The proposed bond resolution requests City authorization to allow EWEB to issue <br />up to $8 million in electric system revenue bonds to pay for design and <br />development work for relocation of certain EWEB operating functions to the new <br />Roosevelt site in west Eugene, design work for remodel of the existing <br />headquarters building located at the current EWEB site in downtown Eugene, and <br />preliminary planning work associated with the downtown site. <br /> <br />The $8 million amount is comprised of the following estimated amounts: <br />? <br /> $4.9 million for final design work; <br />? <br /> $340,000 for EWEB staff support during the design process; <br />? <br /> $770,000 for wetlands related permitting work related to the new West <br />Eugene site; <br />? <br /> $110,000 for site planning work associated with the downtown site (see #4 <br />below); <br />? <br /> $650,000 in debt issuance costs including funding of necessary reserves; <br />and <br />? <br /> $1.2 million in contingency funds. <br /> <br />Any money not spent in the design phase can be used for construction of the <br />facilities and other related costs. <br /> 2 <br />
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