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HomeMy WebLinkAboutOrdinance No. 19173ORDINANCE N0. ~ q ~ ~~ AN ORDINANCE ORDERING A SPECI~,L CITY ELECTzQN FQR THE PURPOSE DF SUBMITTING T~ THE LEGAL VOTERS OF THE CITY OF EUGENE FOR THEIR APPRQVAL OR REFECTION AT SUCH ELECTION TD BE HELD ON THE 20TH DAY OF SEPTEMBER, 19$3, AN ORDINANCE AUTHORIZING THE CITY OF EUGENE., ACTING BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD TO ISSUE REVENUE BANDS DR OTHER EVIDENCES DF INDEBTEDNESS OF THE CITY IN AN AMOUNT NOT EXCEEDING $30,040,000 AGGREGATE PRINCI- PAL AMOUNT IN ACCORDANCE WITH THE PROVISIONS OF ORDINANCE No. ~~ ~, THE ELECTION TO BE CON- DUCTED BY THE LANE COUNTY ELECTION DEPARTMENT; ADOPTING POLLING PLACES, AND PROVIDING FOR ALL ACTS NECESSARY FDR THE CARRYING ON OF SAID ELEC- TION; AND DECLARING AN EMERGENCY. THE CITY OF EUGENE DUES ORDAIN AS FOLLOWS: Section 1. The City Council does hereby order a special elec- tion to be held in the City of Eugene, Oregon on the 20th day of September, 1983, to be conducted by the Lane County Election Depart- ment, at .which election there shall be submitted to the electors of the City for their approval or rejection, the following Ordinance, to-wit: MEASURE NDr ~~ SUBMITTTED TD THE VOTERS BY THE CITY CDDNCIL ORDINANCE ND . Ial1"1 °~. ENACTED BY THE CITY CDDNCIL AND APPROVED BY THE MAYOR ON AUGUST 17, 1983, AUTH- ORIZING THE CITY OF EUGENE, ACTING BY AND THROUGH THE EUGENE WATER & ELECTRIC BOARD, TO ISSUE UP TO $30,000,000 AGGREGATE PRINCIPAL AMaUNT OF REVENUE BANDS DR OTHER EVIDENCES QF INDEBTEDNESS OF THE CITY, PAYABLE SOLELY FROM NET REVENUES OR ANY POR- TION THEREOF DF THE ELECTRIC UTILITY SYSTEM OF THE CITY, OR FROM ANY OTHER MONEYS LAWFULLY AVAILABLE THEREFOR, FQR THE PURPOSE QF FTN,ANCZNG ENERGY CON- SERVATION MEASURES AND UNDERTAKINGS ON BEHALF OF CUSTOMERS OF THE SYSTEM; PROVIDING THAT NO BONDS 4R OTHER EVIDENCES OF INDEBTEDNESS SHALL BE ISSUED UNLESS THE BONNEVZLLE POSER ADMINISTRATOR HAS AGREED TD PAY THE PRINCIPAL THEREOF AND INTEREST THEREON; AND PROVIDING FOR AN EFFECTIVE DATE. Ordinance - 1 l9/ 3~3 THE CITY Ok' EUGENE DOES QRDATN AS Fo~LOWS: Section 1. authorization ~f Electric Utility Sstem Revenue Bonds. The City of Eugene, Oregon, .acting by and through the Eugene Cuter & Electric Board, is hereby auth- orized to borxow money and issue. revenue bonds or other evidences of indebtedness payable solely fxom the net reve- nues ar any portion thereof ~f the Electric Utility System of the City, or frog, any other moneys lawfully available therefor, at one time or from time to time in an amount not to exceed in the agg,regate,$3Q,~p4,044, for the purpose of f lnanca.ng energy conservation measures and undertakings on behalf of customers of the Electric Utility System; pro- vided, however, that none of the bonds or other evidences of indebtedness shall be issued unless the Bonneville Power Administrator has agreed to pay the principal thereof and interest thereon by agree~.ent satisfactory to the Board and the City Council. Section 2. Terms and Conditions of Bonds, All terms and conditions of the bonds or other evidences of indebted- ness and the terms upon which the same may be sold shall be prescribed by Ordinance. Ho~rever, such bonds or other evi- dences of indebtedness shall mature not later than thirty years from the date thereof and shall bear interest at a net effective rate not to exceed thirteen per centum X1307 per annum. Such bonds or other evidences of indebtedness shall include a statement on their face to the effect: ~ l ~ that they do not in any manner constitute a general obligation of the Eugene Water & Electric Board, or of the ,City of Eugene, or create a charge upon the tax revenues of the City, or upon any other revenues or property of the City, o~r prop-~ erty of the Board, but are a charge upon and payable solely from the revenues of the Electric Utility System of the City, or any portion thereof , or from any other moneys lawfully .available therefor, pledged to the payment thereof; ~2~ that the holders thereof may only look for repayment to the revenues of the Electric Utility System which are pledged to the payment thereof, and may not directly, or indirectly, be paid or compensated through the property of the City, or the Eugene Water & Electric Board, or by ar through the taxing power of the City. Section 3. Effective Date. This Ordinance shall take effect immediately upon its appxaval by the voters of the City of Eugene. Section 2. The above Ordinance No. ~Q~"~~ referred to the voters for their appra~al or refection shall be placed upon the official ballot by the City Recorder. There shall be furnished to Ordinance - 2 /9 / ~-3 the County Clerk for the County o~ Lane, not ~.ater than the. 34th day before the date o~ th:e elect~.on, a certified copy of tl~e ballot title for the ordinance to be voted upon. The City Attorne shall Y prepare, and the City Recorder sha1~. furnish a ballot title for the Ordinance and direct that the County Clerk for Lane Count lace the yP measure upon the xegular ballot to be used at the special election to be voted upon by the electors of the City of Eugene. Section 3. The necessary poll books, b~,11ot boxes, tall sheets Y and such other supplies far each precinct as are necessary far the carrying on of the election shah, be furnished by the Count Clerk y for Lane County, and the supplies shall be delivered to the Election Board. Section 4. The City Council. hereby oxders that the special election shall be conducted by Lane County on September 20, 1983 and hereby designates as the polling places for the special election in the City of Eugene the poring places established and deli nated g by Lane County, and the City Council does hereby appoint the Clerks appointed to serve at the election by Lane County to serve in each of the polling places for the City's special election. Section 5. The polls shall be open ~.n each of the voting pre- cincts at 8:04 orclock a.m., Pacific Time, and shall be ke t o en P p until 8:40 p.m. , Pacific Ti~te, on said election day. Section ~. The Clerk acting as chairperson of the Election Board designated by Lane County shall be chairperson of the same Board of which he or she is a Member in the City special election and the ballots shall be counted, tabulated and the results certi- ordinance _ 3 l9/33 fied as provided by law. Section 7. The City ,Recoxdex~ i~ hereby dixected to give not less than ten ~10~ days notice ~~ the special election by publica- tion of one ~1} notice thereof in the Eugene Re~a.ster Guard, a news-- paper published in the City and of genera. c,ia~culation therein. Section 8. zt is necessary that a large amount of material be prepared prior to the election and thexefore~ an emergency is hereby declared to exist, and it is hereby declared necessary for the immed- iate preservation of the peacer health and safety of the Cit of Y Eugene that this Ordinance becv~ne effective immediately upon its pas- sage by the City Council and approval by the Mayor. Passed by the City Council this ~1~h day of _ u us-}"' 1983 ~a~ ~.~ ~sS-~. City ecorder Approved by the Mayor this ~ ~~ da o f u ~,t S-~" 19 8 3 Mayor ordinance - 4.