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Home My WebLink About1927-12-20 Min - BoardTruckee, Calif. December 20 I927 The members of the Board of Directors of the Truckee Public Utility District met in regular meeting at the office of the Board in the TruaALee Republican Offieg Truckee, California at 8 P.M., C.E.Smith, President, presiding. Upon roll call the following Directors were noted presknt: C.E.Smith, T.O'Hairahan aced C.B.Wkits. Minutes of the previous meeting were read aid approved. Letters from F.O.Broili under date of Dec.I7; from W.J. Looks under date of Dec. 16 and from T.L.Chamberlain under date of Dee I8 were read and filed. The following resolution was introdueed by Director Smith , seconded by Director O'Hanrahai and unanimously carried. RESOLUTION NO.6 RESOLVED, that this bosad borrow from the Truckee Branch, Central Bank of California, the sum of $300 (Three Hundred Dollars) on suer terms and bearing such rate of interest as the said bank may require, and, tkat C.E.Smith, President and T.O'Haarahan, Director of the Board be, and are hereby authe orized to execute aid deliver to the said bank a promissary note for said sum of maney, and, BE IT FURTHER RESOLVED, that the Clerk of this Board be, and is hereby authorized to deliver to said bank,a copy of this resolution, under the seal of the District, as evidence of the authority of the said Directors to make said loan and execute the promissary note as above stated. The following resolution was then introducea by Director Whit@, seconded by Director O'Hanrahan aid unanimously carried. RESOLUTION NO. Y WHEREAS, at the special district eleotiok held in Truckee Public Utility District on Monday, December I2,I927, the electors of said district authorized the Directors of the district to issue district bonds in the sum of $20,000.00 for the acquisition, con- struction and completion of the following public utility, to -wit: A system for selling electricity for light, heat and power to tke inhabitants of said district in accordance with the plans aid estimates filed and adopted by the Directors of said Truckee Public Utility District, which bonds should bear interest at the rate of 6% per anmum; and WHEREAS, all of the requirements of the law were compiled with in calling and holding the said election and the canvass of the returns of said election by the Board of Directors, and the said Board of Directors did, as a result of such canvass, determine that the proposition submitted at said election received the affirma- tive vote of more than two-thirds of the voters voting at said election, 4 NOWi;THEREPORE,be it R SOLVED by the 'Board of Directors of Truckee Public Utility District, as follows: Section I. That 'bonds of said Truckee Public Utility District in the principal sum of $,20,000.00 to be know as Truckee Public Utility District Bonds of 1928, shall be issued to pay the cost of acquisition, construction and completion by the said district of the public utility hefetofore described. Section 2. That said bonds shall be issued as hereinafter set forth, and shall be sold in accordance with law and the provis- ions of this resolution. Said bonds shall be negotiable in form and of the character known as"serial" and shall be twenty in num- ber, numbered consecutively from I to 20, both inclusive, of the denomination of $1000.00 each. All of said 'bonds shall bear inter- est from their date until paid, at the rate of 6% per annum, pay - ably annually on the Second day of January, which interest shall be evidenced by coupons attached to each bond and each of such coupons shall represent one year's interest on the bond to which it is attached. The principal and interest of said bonds shall be payably at the office of the Treasurer of the said distrait, in the Town of Truckee, California, in gold coin of the United Statee. Said bonds shall be dated January 2, I928, and one of said bonds in consecutive, numerical order from lower to higher, shall be redeemable on the second day of January of each of the years I930 to 1949, inclusive. Said coupons on each of said bonds shall be numbered consecutively from one, upwards, commencing with coupon maturing January 2, 1929, Section 3. Said bonds shall be substantially in the following form, the blanks in said form and in the form of the coupons given below, to be filled with the appropriate words, or figures, to -sit: UNITED STATES OF AIdERICA State of California Truckee Public Utility District Bond of 1928 No • U000.00 For value received, TRUCKEE PUBLIC UTILITY DISTRICT, a municipal utility district organized and existing under the constitution and laws of the State of California, hereby acknowledges itself indebted and promises to pay to the bearer on the Second day of Januatiry,I9 One Thousand Dollars($I000.00), with interest there- on at the rate of Six Percent per annum, payably annually on the Second day of January of each year, on presentation ztxlke and surrender of the coupons hereto attached as they respectfully become due. Both principal and interest being payable in gold coin of the United States at the office of the Treasurer of said District in the Town of Truckee in said state. This bond is issued under and pursuant to the constitution and statutes of the State of California, and under and pursutautto proceedings of said District, duly taken and adopted, and a vote and assent of more than two-thirds of all of the qualified electors Of said District voting at an election duly and legaly called and held for that purpose. It is hereby recited, certified and declared that all acts, conditions and things required by law to exist, happen and to be performed precedent to the issuance of this bond have existed, happened and[ been performed in due time, form and manner as re- gtired by law, and that the amount of this bond, together with all other indebtedness of said District does not exceed any limit pretribed by the constitution and statutes of this state. The full faith and credit of said District are hereby pledged for the punctual payment of the principal and interest of this bond. IN ViITNESS WHEREOF, said TRUCKEE PUBLIC UTILITY DISTRICT has caused this bond to be executed under its seal, signed by the President of the Board of Directors of the District and counter- signe,. by the Clerk of the District, aaf has caused the interest coupons hereto attached to be signed by the Treasurer, anf this bond to be dated the Second day of January, 1928, President of the Board of Directors of TRUCKEE PUBLIC UTILITY DISTRICT o-G 7'R d c �eee -Pc18 ! U TI J.17 y ' )f STKiL-F; 4� The interest coupons shall be signer, by the Treasurer od said District by original or facsimile signature, and be substantially in the following form: "NO. $60.00 On the tad. day of January, 19 , the Truckee Public Utility District will pay to the bearer,--aT the office of the Treasurer of said Distrait in the Town of Truckee, State of California, Sixty Dollars($60.00) in gold coin of the United States, being one year's interest then due on its bond of the year I928, No. Treasurer, Truckee Public Utility District. Section 4. The President of the Board of Directors of Truckee Public Utility District is hereby authorized and directed as such officer, to sign each of said bonds on behalf of said District, and the Clerk of said Distrait is hereby authorized and directed to counter -sign each of said bonds and to affix the seal of said District thereto. The Treasurer of said District is hereby auth- orized la and directed to sign each of the interest coupons either by original of facsimile signature, and such signing, countersign- ing and sealing shall be sufficient and binding execution of said bonds and ooupons bi said District. 3eet6on 5. Said bonds shall be sold ny the board of Directors, as hereaster determined, but for not less than their par value with accrued interest. Passed and adopted by the following vote. Ayes: T.O'Haurahan, C.E.Smith and C.n.White. Noes: None Absent: None The following resolution was then introduced by Director O'Han- rahan and seconded by Director White. RESOLUTION NO.8 WHEREAS, on December 12, I927, an election was held in and thro- ughout Truckee Public Utili" District, which election authorized the issuance of bonds of said district of the pas value of $20,009 and WHEREAS, on December 20, I927, the Board of Directors of the Truckee Public Utility District passed a resolution providing for the issuance of the bonds authorized by said election, and WHEREAS, the act under which the said district was organized provides a method for determining the validity of said bonds, whit'% provision,in the opinion of the Board of Directors of said dis- trict, should be invoked without further delay. Now, therefore, BE IT RESOLVED, that T.L.Chamberlain, the attor- ney for said Distrait, be, anf he hereby is, authorized and order- asts ered to bring, in the name of the District, an action in the Superior Court of the County of Nevada, State of California, to determine the validity of said bonds. Passed and adopted by the following vote: Ayes: C.E.Smith, T.O'Hanrahan and C.B.White. Noes: None. Absent: None. No further bneiness appearing, Board adjourned. Attestrf ate.._,.; ��, Yresideht Clerk & Ex Officio Secretary