HomeMy WebLinkAboutResolution 05-21 05/02/2005
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RESOLUTION
NO. 054-9- 21
A RESOLUTION OF THE CITY OF SPRINGFIELD
COMMON COUNCIL APPROVING THE ISSUANCE OF
REVENUE BONDS BY THE METROPOLITAN
WASTEWATER MANAGEMENT COMMISSION; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to ORS Chapter 190, the Cities of Springfield and Eugene and Lane
County (Governing Bodies) entered into an intergovernmental agreement (Agreement) on
February 9, 1977 establishing the Metropolitan Wastewater Management Commission
(Commission) to construct, operate, and maintain Regional Sewerage Facilities to service the
Eugene-Springfield Metropolitan area (Metro Area).
WHEREAS, the original Regional Sewerage Facilities were constructed in the early 1980s with a
planned design capacity to serve the Metro Area through 2004.
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WHEREAS, the Commission and the Governing Bodies have approved the 2004 MWMC
Facilities Plan and 20- Year Project List, which includes capital projects with an estimated cost of
$144,000,000 (in 2004 dollars) necessary to meet the sewage treatment needs of the Metro Area
through the year 2025.
WHEREAS, the Commission and its financial advisor conducted an evaluation of funding
options, and concluded that revenue bonds are the best available financing tool and that
approximately $100,000,000 in revenue bonds should be issued between 2005 and 2010 to fund
the capital projects on the 20- Year Project List.
WHEREAS, pursuant to Ordinance No. 6127 adopted May 2 2005, the City
Council adopted a restated and amended intergovernmental agreement that, in part, created the
Metropolitan Wastewater Management Commission as an intergovernmental entity pursuant to
the provisions ofORS 190.010 and 190.085.
WHEREAS, ORS 190.080(1) provides that intergovernmental entities may issue revenue bonds
if the parties to the agreement approve the issuance of the revenue bonds after a public hearing.
WHEREAS, The cities of Springfield and Eugene, Oregon and Lane County, Oregon desire to
authorize the Metropolitan Wastewater Management Commission to issue revenue bonds under
ORS 288.805 to 288.945.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
. SPRINGFIELD, a Municipal Corporation of the St ate of Oregon, as follows:
l Section 1. Approval of Bonds. A public hearing was held before the City Council on
.~ 2005 regarding the issuance by the Metropolitan Wastewater Management Commission
April I~
Resolution - 1
of up to $100,000,000 of revenue bonds to finance regional sewerage facilities pursuant to ORS
190.080(1)(a) and ORS 288.805 to 288.945. By adoption of this Resolution, the City Council
hereby approves of the issuance of up to $100,000,000 of revenue bonds by the Metropolitan
Wastewater Management Commission pursuant to ORS 190.080(1)(a) and ORS 288.805 to
288.945 to finance regional sewerage facilities.
Section 2. Effective Date. This Resolution shall become effective immediately upon its
adoption, or on the date that the Intergovernmental Agreement referred to in Finding E above
takes effect, whichever is later.
Adopted by the Common Council 'of the City of Springfield the 2nd day of May
2005. with a vote of 4 for and 0 against (2 absent)
ATTEST: ~~
Amy Sowa, City Recor r
REVIEWED & APPROVED
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gATEi ':2.
O~~IC~ OF CITY ATTORNEY
Resolution - 2
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