HomeMy WebLinkAbout1994-51 Issue Consv. Rev. BondsRESOLUTION NO. 94-~'/
A RESOLUTION OF THE CITY OF ASHLAND, OREGON AUTHORIZING THE ISSUANCE
OF THE OREGON MUNICIPAL ENERGY AND CONSERVATION AGENCY OF ITS
CONSERVATION REVNUE BONDS IN AN AMOUNT NOT TO EXCEED $15,000,000,
AND RELATED MAI I'ERS.
RECITALS:
A. By authority of Ordinance No. 2725 enacted December 3, 1993, and pursuant to ORS
190.010, the City entered into an intergovernmental agreement with the Member Utilities as
defined in the intergovernmental agreement creating the Oregon Municipal Energy and Conservation
Agency, an intergovernmental entity ("OMECA");
B. OMECA has requested the city council's approval of OMECA's isuance of its conservation
revenue bonds in an amount not to exceed $15,000,000 for the financing by the Bonneville Power
Administration through OMECA of conservation Measures and Units as defined in the Conservation
Project Implementation Agreement (the "Project") pursuant to the authority of ORS 190.080(1 )(a)
and ORS 288.805 to 288.945 (the Oregon Uniform Revenue Bond Act)(the "Act"); and
C. The City has called and held a public hearing on August 2, 1994 for the purpose of
considering the approval by the City Council of the Bond issue, as required by ORS 190.080( 1 )(a);
The City Council of the City of Ashland, Oregon, resolves:
SECTION 1. Revenue Bonds Authorized. The City Council approves of OMECA's
issuance of not to exceed $15,000,000 in aggregate principal amount of conservation Revenue
bonds, Series 1994 (the "Bonds"), pursuant to the authority of the Act. This approval is contingent
upon OMECA receiving like approval by the other Member Utilities and OMECA's governing body.
The foregoing resolution was READ and DULY ADOPTED at a regular meeting of the City
Council of the City of Ashland on the -'3 %"~ day of
Nan E./rFz~aanklin, City Recorder
SIGNED and APPROVED this ~io/day of ~-~.~.~
Reviewed as to form:
Paul Nolte, City Attorney
, 1994.
Catherine M. Golden, Mayor