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F. <br /> The measure is expected to cost an average of $0.61 per $1000 of assessed value <br />each year for five years. For an average homeowner in Eugene, this would be about $102 per <br />year. <br />G. <br />The criteria for choosing bond projects included: a) citizen input with respect to <br />prioritizing major streets in need of reconstruction; b) scientific information about needed street <br />rehabilitation and reconstruction from the pavement management system; and c) geographic <br />distribution throughout the community to ensure all areas of the City receive a benefit from the <br />bond proceeds.Bond proceeds will only be used for street preservation projects included in the <br />list of projects attached as Exhibit A to this Resolution. If all of the projects listed in Exhibit A <br />are completed and there are bond proceeds remaining, the Council may add other street <br />preservation projects to the list. <br />H. <br /> In order to promote accountability in the use of bond proceeds, the City Manager <br />will contract with an outside auditor to prepare a written report on the use of the bond proceeds <br />on a regular basis. The auditor will ascertain and report on whether the bond proceeds were used <br />for the authorized purposes and in compliance with the restrictions set forth above. The City <br />Manager will provide the report to the Council and make the report publicly available. <br />I. <br /> To further promote accountability and citizen involvement in street preservation <br />projects, the City Manager has advised that he intends to create a street repair review panel. The <br />street repair review panel will prepare a report, separate and distinct from the report prepared by <br />the outside auditor, documenting the City’s use of the bond proceeds and noting whether the <br />bond proceeds were used in compliance with the terms of this Resolution. The City Manager <br />will provide the street repair review panel’s report to the Council and make the report publicly <br />available. <br />NOW, THEREFORE, based upon the above findings, <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> Section 1. <br /> A city election is called for the purpose of submitting to the qualified electors <br />of the City a Measure authorizing the issuance of a maximum of $35,900,000 of General <br />Obligation bonds to fund street preservation projects and off-street bicycle and pedestrian path <br />preservation projects. <br />Section 2. <br /> The City Council orders this City election to be held in the City of Eugene, <br />th <br />Oregon, concurrently with the general election on the 4 day of November, 2008, in accordance <br />with the provisions of Chapter 254 of the Oregon Revised Statutes, and the ballots shall be <br />counted and tabulated and the results certified as provided by law. <br />Section 3. <br /> The City Recorder is directed to give not less than ten days’ notice of the City <br />election by publication of one notice in the Register Guard, a newspaper published in the City <br />and of general circulation within the City. <br />Resolution - 2 <br /> <br />