Notice of Revenue Bond Authorization

CITY OF GRESHAM Notice of Revenue Bond Authorization NOTICE IS HEREBY GIVEN that the City of Gresham, Oregon (the City) adopted Resolution 3471 on October 5, 2021, authorizing the issuance of revenue bonds in one or more series to finance costs of capital improvements to the City’s water system, including but not limited to reservoir improvements, transmission improvements, treatment facility construction and improvements, well pump construction and improvements, meter station construction and improvements, and seismic resiliency retrofitting and upgrades (collectively, the Water Projects). The bonds described in this notice are expected to be paid from water system revenues. The bonds will not be general obligations of the City, and neither the authorization nor issuance of the bonds described in this notice will authorize the City to levy any taxes. The bonds will be issued in an amount sufficient to produce net proceeds for the Water Projects of $93 million. Bonds may also be issued to pay costs related to the bonds, including costs of issuance, capitalized interest and funding debt service reserves. The City estimates that the total principal amount of bonds required for this purpose will not exceed $108.5 million. Bond proceeds will be used solely to pay for costs of the Water Projects and costs related to the bonds. If written petitions requesting an election on the issuance of the bonds, signed by not less than five percent (5%) of the City’s electors, are filed with the City on or before December 12, 2021, (60 days after the notice publication date), the question of issuing the bonds shall be placed on the ballot at the next legally available election date. The City’s offices are located at 1333 NW Eastman Parkway, Gresham, OR 97030, and a copy of the resolution authorizing the bonds is available from the City Manager’s Office at that address. The bonds will be issued and sold under ORS 287A.150 and related statutes; this Notice is published pursuant to ORS 287A.150(4). Published 10/13/21 GO219072

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Publication: Gresham Legals 2

Section: Legals

Start Date: 2021/10/12

End Date: 2021/10/13

Owner: City Of Gresham- Budget & Finance


County: Multnomah