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Truckee, California
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December
4, 1963
Due notice having been posted a Special Meeting of the Board, of
Directors was held at the off iceof the District on Main -Street-
December 4, 1963 at 7:30 P.M.
The following directors were noted present: Aweeka, McIver, Kaspian-
Absent: Spillner
Attorney Martin McDonough reported REA loan had been approved and
expected to receive the loan agreement sometime this week.
Attorney McDonough read and explained points,- taking each - article
of the contract under consideration, l - 1 - , -
Martin McDonough stated he was not worried -about the agreement . -Manager
felt the people of the District would- have - double portection under- -
this agreement,
Director Kaspian wanted re -assurance that the District would have
no problems in repaying REA loan. Manager advised as a result of
the 5/ discount District Revenue would -increase to $6, 000.00 a -
year. Manager reported loses up to 12/13r , which amount to
approximately $10, 000.00 a year will be eliminated with 2.4Kv to
12.5 Kv . Manager advised Mr* Reis ing stated the loses will make
the loan payments.
Another area gain in power factor will be Topol's Mill. --When
the cutover is made Topol's- Mill will have to have their present -
transformers replaced. This will result in power factor. -
Director Kaspian inquired as to using money from the Golf Course
in -
in the electric department if necessary. Manager stated it could
be done but -did not want to intermingual departments . All -the money
from the Golf -Course should be credited back to the water- department.
Attorney McDonough advised a Certificate of Authority had to be
executed for future financial requirements and expenditure statements
to be signed by manager.
Resolution 6316 -- giveing manager authorization to sign financial
requirements and expenditure statements moved by Director McIver
second by Director Kaspian,
Roll Call: Ayes: J&weeka, Kaspian,,-McIver Noes: none Absent: Spillner
At this time manager announced there would be a special board
meeting December 27, 1963 @ 9: 00 A.M. - to cpen bids on billing machine.,
Manager asked Martin McDonough if he would be in a position to be
the Districts consulting attorney, McDonough stated he could not
do it on a $100.00 a month retainer, but would have to be on a time
dxpended basis. Fee would be �$ 20.00 per hour on out of Court lmatters
and $ 200.00 per day on trial work.