HomeMy WebLinkAboutAdmin Order 21-10-07ADMINISTRATIVE ORDER NO, 21-10-07
of the City Manager
City of Eugene, Oregon
SUBALLOCATING THE CITY OF EUGENE RECOVERY ,ZONE
ECONOMIC DEVELOPMENT BOND ("RZEDB") AUTHORITY TO
LANE COMMUNITY COLLEGE DISTRICT.
The City Manager of the City of Eugene finds that:
A. Under the provisions of Chapter IV, Section 16 of the Eugene Charter of 2002,
the City Manager is designated as the. administrative head of the City, and is specifically
authorized to appoint and remove all employees (except as otherwise provided in the Charter),
and to enforce all ordinances of the City.
B. Pursuant to the American Recovery and Reinvestment Act of 2009, sections
140OU -1 and 140OU -2 of the Internal Revenue Code of 1986, as amended, and Internal Revenue
Service Notice 2009 -50, the City received an allocation of recovery zone economic development
bond ("RZEDB") authority in the amount of $7,389,000.
C. Resolution No. 5014 adopted by the City Council of the City of Eugene on
September 15, 2010, delegated authority to me to suballocate or transfer to, or otherwise arrange
for the use by, Lane Community College District of all or any portion of the City RZEDB
authority.
NOW, THEREFORE,
The City Manager of the City of Eugene Orders and Directs that:
Based upon the above findings, which are adopted, the City RZEDB authority in the
amount of $7,389,000 is hereby suballocated to Lane Community College District for its use in
issuing recovery zone economic development bonds.
Dated and effective this I day of December, 2010.
Jon R. RUIZ ~
City Manager
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