Resolution No. 2024-05
Notice of Revenue Bond Authorization

NOTICE IS HEREBY GIVEN that the City of Ashland, Oregon (the “City”) adopted Resolution No. 2024-05 on March 5, 2024, 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 water treatment plant improvements (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 City hereby authorizes the issuance of not more than Seventy-Five Million Dollars ($75,000,000) in aggregate principal amount of revenue bonds. Bond proceeds will be used solely to pay for costs of the Water Projects and costs related to the issuance of the bonds, and may also be used to pay capitalized interest and fund debt service reserves. Resolution No. 2022-29, which was previously adopted and authorized a borrowing in a principal amount not to exceed $44,000,000 to provide capital improvements to the City’s water system, is hereby repealed and Resolution No. 2024-05 supersedes that resolution.
If written petitions requesting an election on the issuance of the bonds, signed by not less than ten percent (10%) of the City’s electors, are filed with the City on or before April 17, 2024 (30 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 20 East Main Street, 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).