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HomeMy WebLinkAbout1968-09-03 Min - Board September 3, 1968 The members of the Board of Directors of the Truckee Public Utility District met in a regular meeting at the office of;-the District on Main Street, Truckee, California at 7:30 P. M. Upon roll call the following Directors were noted present: Rose, Doyle, Moore, Waters, Firpo District employees present: Longo, Cattan, Osburn Guests present: A. Cook, L. Russell, J. Houlgate, Brien Walters Minutes of the regular meeting of August 20, 1968 were approved as written. It was moved by Director Rose and Seconded by Director Firpo Bills paid and bills for the Boards approval be paid as listed. So carried.See P. D&E SANITARY DISTRICT a. LAND b. CROSSING Manager received a call from Fred Hodder realitive to two items: The 120 acres of land lying North of Donner Trail Estates is not within Sanitary District facilities for service. At one time we received a quo- tation from that District on the land somewhere in the neighborhood of $50,000. Mr. Hodder wants to know if we want that land included in the Sanitary Districts planned facilities. It was necessary for him to have an answer on this matter at this time. The estimated assessment on this land is now $27,000 which was quite a reduction since it was at one time estimated at $77,000. This is approx- imately $200 per acre. After a lengthly negotiation on this matter, the Board decided that it would be beneficial to the District to be included in the Sanitary Districts planned facilities* DONNER MIMORIAL STATE PARK - RIGHT OF WAY Manager stated that when Sierra Pacific sold their facilities to the Dis- trict, they attempted to sell us the right of way across the State Park, The power line which goes in there to serve the facility is an encroachment. The State law requires that a permit from a State Park can not be transfered from one person to another. Therefore, they have provided us with a new permit for crossing. Manager read Resolution #6820 providing for Permit of right of way from State. This Resolution was adopted, by a roll call vote. The Resolution attached hereto being a part of these minutes. ORDINANCE NO. 68-04 This Ordinance enables the District to engage in a loan with R E A. It was adopted by the Board the 30 th day of July 1968, and was published in the newspaper also. Three postings in public places were made by manager, Since there was no further discussion, this ordinance is now in effect and is hereby made a matter of record in the minutes. Manager will notify REA. tomorrow that the ordinance is now effective so they can proceed with preparation for the loan, WATER RATE, ORDINANCE Paul Chamberlain defines facilities fee as follows: The charge made by the Xstrict, for, but not limited to, a share of the basic facilities needed to serve a customer or customers. Including in the expansions and additions thereto. It was his opinion that there could be no real definition for basic f ac- itities. tL Mr. Russell stated that he could see no reason for the advance facilities fee. His opinion was that the District has gotten themselves in a bind so they are looking for relief elsewhere to bring them out of this bind. He stated that taxes would be equal to all. It was stated again that the $100 fee was to enable further system develop- ment. There was no further discussion on Ordinance #68-05. Manager will call Mr. Chamberlain for further information on this matter. BEAVERS=PONDEROSA PALISADES 3 Paul Chamberlain has arranged a meeting with Mr. Beaver's attorney -to dis- cuss this matter. Manager suggested a meeting with Paul and the Board so he can explain just what Mr. Beavers intentions are and what steps his attorney has advised him to take. SIERRA MEADOWS, Ordinance NO. 6821 Manager read Resolution No. 6821. It was moved and seconded that this Resolution be adopted. The Resolution attached hereto, being a part of these minutes, P. G. & E. PROTEST FILING We have protested this intertie contract because of the fact we allege it inequitable. P. G. & E. will not wheel power to the District. MANAGERS REPORT Manager reported attendance at another O.E.D.P. meeting and was informed that the 160 E has to be in tomorrow and a pre-application hearing is scheduled for September 27, 1968. This project goes to a total of $1.3 million over a period of 12 to 20 r� years, and if it is eligible it will be acceptable for a 60 o grant of Federal Funds. A meeting will be held in Truckee and the Directors of the Board are re- quested to attend. Mr. Houlgate and Mr. Russell thanked the Board for letting them join the meeting. Chairman asked if there -ka.s anymore business to be brought before the Board. There being no more business , Director Rose moved that the meeting be adjourned. Adjourned at 11:05 P.M. c�. Paul A. Doyle, Chairm Karol* Os up R o ding Secretary 1 RESOLUTION NO. 6820 of the TRUCKEE PUBLIC UTILITY DISTRICT WHEREAS, the State of California, acting through its Department of Parks and Recreation, hereinafter called the State, has presented TRUCKEE PUBLIC UTILITY DISTRICT with a form of Permit for power line encroachment in Donner Memorial Historical State Park, and WHEREAS, it is in the best interest of this District to enter into agree- ment with the State as provided in said Permit, NOW THEREFORE BE IT RESOLVED, the President and Secretary of this Board are hereby authorized to sign this permit in behalf of this District. Passed and adopted this 3rd day of September 1968 by the following roll call vote: AYES: Rose Firpo Waters , Moore Doyle . NOES: None , ABSENT: None , President of the Board f Directors ATTEST: Clerk and ex-Officio Secretary I i September S, 1968 I, Francis Longo, Secretary of Truckee Public Utility District, do hereby certify that the attached Resolution No, 6820 is a true and correct copy of the Resolution acted upon and duly adopted at a regular meeting of the Board of Directors of thee_ Truckee Public Utility District of September 3, 1968 at which a auoram was present. F is Longo, Secretary ojfdcfe7e Pu lic Utility District ranc �g RESOLUTION NO, 6821 of the TRUCKEE PUBLIC UTILITY DISTRICT WHEREAS, the County of Nevada desires to establish Sierra Meadows Unit #3 assessment District providing for installation of a water supply system IVA within Sierra Meadows Unit #3, and WHEREAS, it is necessary for this district to enter into an agreement, with the County of Nevada to accomplish such installation, NOW THEREFORE BE IT RESOLVED, by the Board of Directors of the TRUCKEE PUBLIC UTILITY DISTRICT as follows: 1. That said agreement, a copy of which is attached here to is hereby approved 2. That the President and Clerk of the Board are hereby authorized and dir- ected to excute said agreement for and in be half of the District. 3. That said agreement is contingent upon installation of certain other facilities being installed by Sierra Meadows developers in accordance with reauirments of the District. Passed and adopted this 3rd day of September 1968 by the following roll call vote: AYES: Rose , Firpo , Waters , Moore , Doyle NOES: None . ABSENT: None , Cj President of -t e Boar o ire tors f ATTEST: g Clerk and ex- to SVfeTary r CT, FUND Pon. 01p, Approved at ;regal-air meeting Sept; 1968 141 .39 Bank Balance 15-, 162 .73 De sits including 9-3-68 1,245 0,45 Approved bills 80.00 U.S. Post office 23 .40 I,B•M• 53 .7 0- Crane Supply C.00 (21 -00) _Daily Conuwrcial News 00 00 ;emenza, Kott finger & Mc Mu1 'en lJ ►mer ican Cryogenics 12 3 .2% lel• Chemical corporation iPacif is Tool & Supply ,22 Poole Fire Equipment 7 .13 Welch 's Hardware ? ,7 i G .29 Wedco, Inc e Petty Casha.CIO., Paul Cnamberl.ain 00 of masonic 'temple D:7�� . A �. ti i_. ♦`t DirectorsTers Calif . I,ssociat-JO O�. �mp�-off PAY ROLL -AUGUST 31 19 Karolyn, osburn Floyd Burdick . ,cJ0 ' Geor Caftan :� 5C► �i_'.l_ . Bruce Grow. L 17 .49 !. . A Manley. Haltom 33 .6' U'im 1jen 1 ey ( `'h rZey Flub ar (VDcat w' S h j.r 3.����•' 1.,ub a r - Leanion i r Fran Longo . r , Tout t'a V L)e `I(.1.i.C���..� r l • - r , c. •__-_- - - - _._ g arl � D B u l l and Co• . _ F. - F ireS Ldne tor( • c, D&Ita Lines ' JenJen Instrumeilt C) • Nevada of Nev . Counter' .. • -- Tahoe-Truckee Agency 1 Thornton's Garages •CI`� 1J •R�V Sierra Sun Kauffman Chevrolct Rym°a nd. Vail & Associates U� , Western peer Products American Cryogenics 76 .41 Z.N. Curtis STATEMENT OF TRUCKEE PUBLIC UTILITY DIS,rRICT FLJ14D parje 2) BILLS FOR BOARD'S APPROVAL Robert-. W . Hunt Pacif is Telephone 00 Mon,.,--,O(.-: Ind . Neptune pjr2ter Company ViXICCIlt `-'-)'Uppl}" CO. 0 s t j.,-1(j I o u s e "Juc . ,-orp. Georc,.c ..(-ttan ,'tandard Oil Co. ,-�outacrfl pzlcific c nL t Tj C.)f 1 A . 1 C:01. 1. P Ll a 7 B Jv C 13 1 Z1 RESOLUTION NO. Adopted A RESOLUTION PROVIDING FOR THE ISSUANCE OF $115,000 PRINCIPAL AMOUNT OF BONDS OF TRUCKEE PUBLIC UTILITY DISTRICT; PRESCRIBING THE DATE AND FORM OF SAID BONDS; PRESCRIBING THE INTEREST RATE AND THE MATURITIES THEREOF AND THE SALE THEREOF TO UNITED STATES OF AMERICA; AUTHORIZING THE EXECUTION OF SAID BONDS; PROVIDING FOR THE LEVY OF TAXES FOR THE PAYMENT THEREOF; AND PROVIDING FOR THE PLEDGING OF REVENUES TO SECURE SUCH PAYMENT. NO. CALIFORNIA 44 B TRUCKEE RESOLUTION NO.6822 PROVIDING FOR THE ISSUANCE OF $115,000 PRINCIPAL AMOUNT OF BONDS OF TRUCKEE PUBLIC UTILITY DISTRICT; PRESCRIBING THE DATE AND FORM OF SAID BONDS; PRESCRIBING THE INTEREST RATE AND THE MATURITIES THEREOF AND THE SALE THEREOF TO UNITED STATES OF AMERICA; AUTHORIZING THE EXECUTION OF SAID BONDS; PROVIDING FOR THE LEVY OF TAXES FOR THE PAYMENT THEREOF; AND PROVIDING FOR THE PLEDGING OF REVENUES TO SECURE SUCH PAYMENT. WHEREAS, Truckee Public Utility District (hereinafter called the "District") is authorized, pursuant to the Public Utility District Act (hereinafter called the "District Act") of California (Division 7, Section 15501 et seq. of the Public Utilities Code of the State of California), to issue general obligation bonds to pay the cost of acquiring, constructing or completing the whole or any portion of any utility or works referred to in the District Act, or for acquiring any works, lands, structures, rights or other property necessary or convenient to carry out the objects, purposes or powers of the District; and WHEREAS, the District owns and operates a public utility system (said public utility system and all improvements, enlargements, extensions, betterments or additions thereto, whenever and however made, being hereinafter called the "System"), consisting of electric transmission, distribution and service lines and facilities; and WHEREAS, the District is authorized, pursuant to Section 16578 of the District Act, to accept loans from the United States of America (hereinafter called the "Government") without limitation by any other provisions of the District Act requiring approval of indebtedness for the purpose of financing the construction, maintenance and operation of any enterprise in which the District is authorized to engage, and the Board of Directors (hereinafter called the "Board of Directors") of the District is authorized to issue bonds to the Government evidencing loans made by the Government to the District, and to do all things necessary in order to avail the District of such loans; and WHEREAS, the District, pursuant to the authority vested in it by Section 16578 of the District Act, has heretofore entered into a certain loan contract (hereinafter called the "Original REA Loan Contract"), dated as of October 28, 1963, with the Government, acting through the Administrator of the Rural Electrification Administration (hereinafter called the "Administrator"), providing for a loan in an amount not in excess of $367,000 by the Government to the District to finance the construction by the District of certain improvements, enlargements, extensions, additions and betterments of and to the System, which improvements, enlargements, extensions, additions and betterments (hereinafter called the "First REA Project") consist of electric transmission, distribution and service lines and all substations and transformers, meters and other equipment necessary for the efficient operation thereof; and WHEREAS, the loan provided for in the Original REA Loan Contract is evidenced by a series of the District's general obligation bonds (hereinafter called the "First 2% Series Bonds"), which were issued, sold and delivered by the District to the Government pursuant to Resolution No. 64-16 (hereinafter called the "First REA Bond Resolution") duly adopted by the Board of Directors on August 25, 1964; and WHEREAS, the District in and by the First REA Bond Resolution, has pledged the net revenues of the System as added security for the payment of the First 2% Series Bonds (the System being a revenue producing facility within the meaning of Section 53500 (d) of the Government Code of the State of California which authorizes such a pledge); and WHEREAS, certain provisions of the Original REA Loan Contract and the First REA Bond Resolution prohibit the District from constructing or acquiring additions of or extensions to the System or pledging, assigning, mortgaging or otherwise encumbering any properties included in the System or the revenues thereof or any other of its properties without the prior approval of the Government; and WHEREAS, upon application made by the District to the Government, the District with the consent of the Government, has entered into a certain agreement (hereinafter called the "Acquisition Agreement") dated as of March 1, 1967, as amended, with Sierra Pacific Power Company (hereinafter called "Sierra Pacific"), providing for the sale by Sierra Pacific to the District of certain electric facilities (hereinafter called the "Donner Lake System"), and the making of in- stallment payments by the District to Sierra Pacific in payment of the purchase price thereof; WHEREAS, the Acquisition Agreement provides that said installment payments to be made by the District are special obligations of the District and are secured by a pledge of and lien on the moneys derived from the operation of the Donner Lake System and payable solely from the net revenues thereof; and WHEREAS, the Government consented to the District's entering into the Acquisition Agreement upon the express condition that as soon as all the indebtedness of the District to Sierra Pacific for the purchase price of the Donner Lake System was paid, the District would, to the satisfaction of the Government, subject the properties included in the Donner Lake System and all revenues arising therefrom to the first lien and pledge created by the First REA Bond Resolution as added security for the payment of the First 2% Series Bonds; and WHEREAS, the Board of Directors has determined and does duly further determine that its electric facilities shall be further improved and enlarged in order to furnish electric service to additional consumers in rural areas not receiving central station service (the facilities required to furnish service to such additional consumers, some of whom are located in the Donner Lake System area and others of whom are located in the System area, being hereinafter col- lectively called the "Second REA Project") ; and WHEREAS, the Board of Directors on behalf of the District has applied to the Government for an additional loan in an amount not in excess of $115,000 to finance the construction of the Second REA Project and has heretofore approved and authorized the execution of a certain agreement (hereinafter called the "Amendment") between the District and the Government, which amends the Original REA Loan Contract in certain respects, including an increase in the amount of the loan provided for therein by said amount of $115,000 (the Original REA Loan Contract, as amended by the Amendment, being hereinafter called the "Loan Contract"); and WHEREAS, the Amendment has been executed by and on behalf of the parties thereto; and WHEREAS, the Loan Contract, as so amended, provides the teams and con- ditions for the sale by the District and the purchase by the Government of an additional series of the District's general obligation bonds (hereinafter called the "Second 2% Series Bonds") in an aggregate principal amount not in excess of $115,000 to finance the construction of the Second REA Project; and WHEREAS, it is intended hereby to provide for the issuance, sale and delivery of the Second 2% Series Bonds as general obligation bonds of the Dis- trict; and WHEREAS, it is further intended that the pledge of the net revenues of the System created by the First REA Bond Resolution as added security for the pay- ment of the Fiat 2% Series Bonds shall be modified by this Resolution to the end that when the District has paid in full the purchase price of the Donner Lake System all revenues of such system shall be pledged and encumbered by the pledge created by this Resolution and that until such payment has been made, the term "System", as hereinafter used in this Resolution, shall not be deemed to include the Donner Lake System; and WHEREAS, it is also intended that the Second 2% Series Bonds issued pursuant to this Resolution shall be secured equally and ratably with the First 2% Series Bonds by a first lien on and pledge of the net revenues of the System, as provided in the preceding paragraph; -2- NOW, THEREFORE, BE IT RESOLVED by the Board of Directors as follows: SECTION 1. Bonds (hereinafter called the "Second 2% Series Bonds") of the District in the aggregate principal amount of $115,000 to be known as "Truckee Public Utility District Electric Bonds, Second 2% Series" shall be issued by the District to pay the cost of the construction of the Second REA Project. SECTION 2. The Second 2% Series Bonds shall be issued to the Govern- ment in accordance with law, with the provisions of this resolution and pursuant to the Loan Contract (as amended by the Amendment). The Second 2% Series Bonds -` shall be negotiable in form, of the character known as serial and shall be numbered from 1 to 32, both inclusive. Said Bonds numbered 1 to 18, both in- clusive, shall be in the denomination of $3,000 each; said Bonds numbered 19 to 28, both inclusive, shall be in the denomination of $4,000 each; said Bonds numbered 29 to 31, both inclusive, shall be in the denominations of $5,000 each; and said Bond numbered 32 shall be in the denomination of $6,000. All of said Bonds shall bear interest at the rate of two per centum (2%) per annum from their date until paid, payable semi-annually on the first day of May and November in each year with the first installment of interest payable on November 1, 1968. The principal and interest on said Bonds shall be payable in lawful money of the United States of America at the United States Treasury, Washington, D. C. The Bonds shall be dated May 1, 1968 and shall bear serial numbers and shall mature as follows: Bond Numbers Amount Maturity 1-18 $3,000 annually' 5-1-71 5-1-88 19-28 4,000 annually 5-1-89 • 5-1-98 29-31 5,000 annually 5-1-99 - 5-1-01 32 6,000 annually 5-1-02 The Second 2% Series Bonds shall be registered as to principal and interest in the name of the United States of America. SECTION 3. The Second 2% Series Bonds shall be substantially in the following form, the blanks in said form to be filled in with appropriate words or figures, to wit: -2A- UNITED STATES OF AMERICA STATE OF CALIFORNIA TRUCKEE PUBLIC UTILITY DISTRICT ELECTRIC BONDS SECOND 2ye SERIES No. $ For value_ received, the Truckee Public Utility District, a public 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 thousand dollars ($ ) on the first day of ,r, (unless this bond be sooner redeemed as hereinafter provided), with interest thereon from the date hereof at the rate of two per centum (2%) per annum, payable semi- annually on the first day of May and the first day of November of each year, be- ginning November 1, 1968; This bond is issued under and in strict compliance with the Constitution and laws of the State of California and under and pursuant to proceedings of said District duly adopted and taken. This bond is subject to redemption, at the option of said District, prior to the maturity date hereof, on any interest payment date, at par plus accrued in- terest to the date of redemption. Notice of the redemption hereof shall be given by said District by sending to the registered owner hereof 30 days notice in writing by registered mail. After the date fixed for such redemption, interest on this bond thereafter shall cease. It is hereby certified, recited and declared that all acts, conditions and things required by law to exist, happen and to be performed precedent to and in the issuance of this bond have existed, happened and been performed in due time, form and manner as required by law, and that the amount of this bond, together with all other indebtedness of said District, does not exceed any limit prescribed by the Constitution or laws of the State of California. The full faith and credit of said District are hereby pledged for the punctual payment of the principal of and interest on this bond. IN WITNESS WHEREOF, said Truckee Public Utility District has caused this bond to be executed in its name and on its behalf, under its seal, signed by the President of its Board of Directors and by its Treasurer, and countersigned by its Clerk, and this bond to be dated the 1st day of May, 1968. TRUCKEE PUBLIC UTILITY DISTRICT by President of its Board of Directors Countersigned; Clerk of Truckee Public Utility District -3- REGISTRATION STATEMENT May 1, 1968 This bond is registered pursuant to the statute in such cases made and provided in the name of the UNITED STATES OF AMERICA and the interest and princi- pal thereof are hereafter payable to such owner. Treasurer of Truckee Public Utility District SECTION 4. The Clerk of the District is directed to cause the Second 2% Series Bonds to be lithographed, to cause the blank spaces thereof to be filled in to comply with the provisions hereof, to procure their execution by the proper officers, and to deliver them to the Administrator of the Rural Electrification Administration of the United States of America. SECTION S. The Second 2% Series Bonds shall be sold by the Board of Directors at the par value thereof subject to the credit for accrued interest, all in accordance with the provisions of the Loan Contract. All credit memoranda received upon the issuance of such Bonds from the Government shall be held by the District until the next interest payment date on such Bonds with respect to which such credit memoranda may have been issued, and on such next interest payment date following the receipt of such credit memoranda, such credit memoranda shall be delivered to the Government in payment of the interest represented thereby. SECTION 6. The President of the Board of Directors is hereby author- ized and directed, as such officer, to sign each of the Second 2% Series Bonds on behalf of the District, and the Clerk of the District is hereby authorized and directed to countersign each of such Bonds and affix the seal of the Dis- trict thereto. Such signing, counter-signing and sealing shall be a sufficient and binding execution of the Second 2% Series Bonds by the District. In case any of such officers whose signatures or countersignatures appearing ppearfng on such Bonds or coupons shall cease to be such officer before the delivery of such Bonds to the Government, such signatures or countersignatures shall nevertheless be valid and sufficient for all purposes the same as if they had remained in office until the delivery of the Second 2% Series Bonds. SECTION 7. Until definitive Second 2% Series Bonds are ready for delivery, the District may execute and deliver in lieu thereof one or more type- written, printed, or lithographed interim certificates substantially in the fo of said Bonds as set forth in Section 3 above, with such insertions, variations, and omissions as may be appropriate and with the following language added; This certificate is issued solely for the convenience of the District pending preparation and execution of the definitive Bond hereby repre- sented and acceptance of this certificate in lieu of said Bond shall not in any way prejudice the rights and privileges of the holder hereof, or in any way limit or impair the obligations of the District, but all such rights, privileges and obligations shall be determined as if a properly executed and otherwise valid definitive Bond had been delivered in place hereof. SECTION 8. In case afLy of the Second 2% Series Bonds shall become muti- lated or be destroyed or lost, the District shall cause to be executed and de- livered a new Bond of like date and tenor in exchange and substitution for, and upon cancellation of, the mutilated Bond , or 1n lieu of and substitution for the Bond so destroyed or lost, and if any such Bond so mutilated, destroyed or lost shall have matured, the District may pay the same in lieu of delivering a new Bond in substitution therefor. The applicant for such substituted Bond or pay- ment shall furnish evidence satisfactory to the District of the destruction or loss of any destroyed or lost Bond and shall also furnish indemnity satisfactory to the District and comply with the requirements of the District in connection therewith. -4- Shall be s SECTION 9. An In inverse ub ject to redey of the Second thereof numerical or mpitOn at the 2x Series plus accrued option Of Bonds at the der demption of inters °n any inters he Districttime o to the reg f any of the Bon st thereon to st payment dot � as a wh utatandtng tton the tered owner n Bonds shall be the date of redemption.e, at the Pri ole or in par Clerk givent k of the D°t 1e88 then 30 by the Dis ncipal amount ' and addresses lair days District Notice Of said Bonds of the holders ict $hall at all prior to t t by notice t Of the re.. any of said held by each of the Second all times ma he date fixed n writing se Bond$ such holder. maintain $ reco for suchsent Interest Ider� nd Series B rd reds SEC t °n such of After the date Bonds and of t showing the mP- which SECTION 10, All the Bonds shall a fixed for he aerial numbers names Shall Second 2 all cease such redemptionbers redemption be returned o x -Bonds celled and there r surrendered Series Bondsof c crema°f' or for exchange to the issued Pars seated by thecremated and a ce hangs or f°r District b uant to this rtificate in any other re y reasonResolution the District. Clerk °f the re as °f the. District shallsped of such on' shall be Payment or "Pal o SECTION ll, be of cancellation forthwith can- Ffrst f and interes In order to tO the appropriate cremation 2x SerteB Bon secure Priate records calls Bonds on the First squall d the ,► sand Zx Series y and rat of °r diet Bonda►�)� according second 2x ies Bonds and ably the a f nets°n rding to Series Bo the Second payment of t Of said Bonds as t° the lien theft ten Bonds bean d 2x Serieshe prin- matur by reason of or their or and effect g hereinafter Bonds Cth to secure f ty thereof the r of a wf tho col le e to the due or the as8ignr tortty fn timeny °f the said without Preference ctively Lion Perfo ent or .Bonds over any Priority, c°ntained rmance oft negotiati of the eXecutto Provisos herein 1 and for the he negotiation thereof ton Over y other herein and set Over and d uses and Purposes s, agreements or otherwise y, or erein declared P ses and upon and Provisions, and further Provided der unto the :. the Dis the in service erfved Government an irict does this Res_ in rendered by the D d it here terms' Conditio g therefrom ih °r furnished b istrict from t s assfgna by Irrevocably Conditions and the District a actual cos y th a Dtatr he sale of'e all revenue$ to y pledge, shall n©t $ from which such t of the Operation District by or through ever the extent to pay or t any time be ch reYenueB_ sh ation and main �gh the SystemgY, or other make prow included all be tenance after deduct. debtedneas of istons for in such co derived, pro °f the Properties act- rence thereof the District the Payment o fat Of °perationvtded' however of fled or an maturingthe print and 1 that in a y .1 more'sore than ipal o f mainten an there thismaintenance and a first P ragraph $$ being for depreciat one {l) Year a or interest on Y amount created, � prior and Paramount pled ion or obsolescence the any in, amount lt$ged hereb Cence (the revenues incur_ general to SECTION 12. Revenues for such called the es speci- al funds That at ch purpose is Revenues„) total derived from ih any time hereby one o Plants the Dist a revenue or times when re r more °f the District shall make s of the system the amount of th required to b Bonds Payments exceeds Wen a Df atrfct's below in inverse order y percent fifteen a made pursuant of °f °r on account t of r, en percent to this Sect maturity, provide of the principal its general funds men of its total ion do not re d, however °f any property„ less ►t means the sum of Plant` Aa used duce the Dtatr ► s that payments Property,,► ►� of Provision following ac in this section. ict s general „Re Perty� Other rove vision for counts of Cl) the t funds siricted ►, „ stments r De�reCiation and the District. term and C2) t, Funds Cash _ in AssOCtated Or Ortiz- „Nonutlllt General it , gantzations�►, „Otte ition of Nonutilit iric p total plant„ mean S it , e lent in Sep-vice ►► ►► a the sum Of the g Funds ' and "Temporary Investments�, y Others,►► ►►EleCtrt ' Electric P1 following accounts mporary Cash Inv "Construction Workc Plant Held sat purchased ants of the estmenta;l, for Future Use ►, ►, °r Sold „ ,►Elecir Df strict; „Elec- Otilf Utility plant �� In Progress ►, ,► com le is Plan Titles Electric p P ted Construction t Leased to meanings set of accounts Plant Acquisf tf on not Classi „ burr forth in the used in the for initi tmenis►, ffed, °Wets by the prevailing system o egofnS definitt and 'Other Rural EleCtrificat f accounts one shall have SECTION 13, ion Administration Prescribed for its electric August, 1968 a The District shall electric $ month Pay over and de all, during each until ay ,o P°8it the Revenues for calendar month co any deficiencies in �'970s and up to 2 the preceding commencing With In one or said amounts in $ ,010 a month the g month up t© $1 re banks Previous reafter, plus the '800 which shall have (each °f which is months due to amounts of ve been herein sometimes inadequacies of revenues 3rincipal amount of the approved by the holder or referred to as a „ :he ' bonds holders of not less t Depositary,) "Majority Bondholde „ at the time Outstanding than lepositaries rs ) in a special sinks nding (hereinafter col a mad°rfty in he „S (such special sinkingsinking fund or f lectivelY cal "Special Revenue Fund") to fund or funds beingands in the De led ime t4 time hold u be held t hereinafter collectivelyy l for the benefit of all collectively called 'lders„ Y of the Bonds(hereinafter of those upon and dubject to sometimes who shall ztil there shall have bee the terms and mes co from n accumulated in ih ondf tfons in this Resolution called the "Bond.. 1ereinafter called "Current e Special Revenue Fund ion contairied, °n of the principal of an Requirements►, all be un d interest ) sufficient for the an amount hone paid, if an on the Bonds payment of (1) the Y Y2 and (2) the which shall have became d Pot' nds which shall become d portion of the due to` the S due during the next two Principal of and but which pecfal Revenue Fund months, The D interest on the ve been accumulated Revenue all of the re District shall lied "Reserve R the Special Revenue remaining Revenues, if an also pay eq� ire a It enue Fund au amount f Y, until there shall Shall eons (hereinafter 11 be sufficient for tho �fy��,. _je _% - next succeeding calendar year. Any Revenues remaining after the Current Require- ments and Reserve Requirements shall have been met may be used by the District in the general conduct of its business; provided, however, that if the amount in the Special Revenue Funds, having reached the maximum hereinbefore prescribed, shall at any time thereafter fall below a sumo equal to the total of the Current Require- ments and the Reserve Requirements, the District shall be obligated to resume making said payments of the Revenues in the monthly amounts provided in this section into the Special Revenue Fund until the maximum amount hereinbefore specified shall have again been accumulated therein, it being the intention hereof that before any of the Revenues may be employed by the District in the general conduct of its business the total amount in the Special Revenue Fund shall at all times, so long as any of the Bonds shall be outstanding, be maintained in an amount equal to the total of the Current Requirements and the Reserve Requirements. SECTION 14. Any portion of the Special Revenue Fund maintained in any Depositary shall be secured continuously by (a) the pledge to the District by such Depositary of bonds of the Government having an aggregate market value of least equal to the amount on deposit in the particular Special Revenue Fund (all bonds of the Government pledged as such security to be either deposited with the District or held by a trustee or agent satisfactory to the District and the Majority Bond- holders), (b) deposit insurance maintained by the Depositary with the Federal Deposit Insurance Corporation, or other similar agency of the Government, in an amount equal to the amount on deposit in the particular Special Revenue Fund, or that part thereof not secured as herein otherwise provided, or (c) a surety bond or bonds payable to the District and the Bondholders, which shall be in form, sufficiency and substance satisfactory to the District and the Majority Bondholders. The Bonds of the Govern- ment deposited, or the deposit insurance maintained, or the surety bond or bonds delivered pursuant to this Section 14 to secure each such portion of the Special Rev- enue Fund, shall be deemed to be deposited, maintained or delivered, as the case may be, for the benefit and security of the Bondholders, and in case there shall be any default by any Depositary with respect to any such Special Revenue Fund, such bonds of the Government, insurance, or the surety bond or bonds shall inure to the benefit of the Bondholders and the terms and conditions of this Resolution shall apply thereto with the same force and effect as they apply to the moneys in any such Special Revenue Fund. SECTION 15, The District shall apply the money in the Special Revenue Fund for the payment of the principal of and interest on the Bonds in order in which the same shall become due only and for no other purpose, provided, however (a) that the District on any payment date specified in the Bonds may use all or any part of the money remaining in the Special Fund in excess of the total of the Current Require- ments and the Reserve Requirements for the payment of all or any part of the prin- cipal of the Bonds then remaining unpaid and any such payments shall be applied on account of the payment of the principal of the Bonds last becoming due, and (b) that any money remaining in the Special Revenue Fund in excess of the Current Re- quirements may be invested as provided in Section 14 hereof. SECTION 16. The Board of Directors may invest in bonds of the Govern- ment any moneys in the Special Revenue Fund in excess of the Current Requirements. All bonds in which funds in the Special Revenue Fund shall have been invested shall be held by the District, together with the interest received therefrom, as part of the Special Revenue Fund. If any of the moneys in the Special Revenue Fund shall be invested in such bonds, the Board of Directors shall, on or before the several dates for the payment of the principal of and interest on the Bonds, sell such of the bonds as shall be required to be sold to provide moneys which, together with the moneys, if any, in the Special Revenue Fund, shall be sufficient for the pay- ments of the principal of and interest on the Bonds which shall become due and pay- able on the next following interest and principal payment date, and the proceeds of such sales of such bonds shall be paid into the Special Revenue Fund. In addi- tion to the sale of any such bonds to pay the principal of or interest on the Bonds, the Board of Directors may at any time sell all or any of such bonds so held in the Special Revenue Fund and the proceeds of such sale of such bonds shall be paid into the Special Revenue Fund and may be either reinvested in bonds of the Government or held in cash in the Special Revenue Fund. SECTION 17. In the event that the moneys in the Special Revenue Fund shall, at any time, be less than the total of the Current Requirements and the Reserve Re- quirements for the payment of all or any part of the principal of the Bonds then re- maining unpaid, the Board of Directors shall, at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and collect annually -6- each year until the Bonds are paid or until the moneys in the Special Revenue Fund or Special Revenue Funds shall be in excess of Current Requirements and Re- serv e Requirements, a tax sufficient to increase the Special Revenue Fund to such amount. The taxes herein required to be levied and collected dhall be in addi- tion to all other taxes levied for District purposes and shall be collected at the time and in the same manner as other District taxes are collected and shall be purpose used no for other than for the payment of interest and principal on the Bonds. SECTION 18. The District shall cause to be prepared and shall adopt and promulgate ate a schedule of rates and charges for electric energy to be furnished by Y the System to its consumers calculated to provide funds sufficient to meet the .-- of requirements as specified in this Resolution, and to provide for all expenses operation and maintenance of the System, including reasonable reserves therefor and said rates shall, whenever necessary, be revised by the District to meet said requirements. SECTION 19. Except to secure the Bonds and loans made by the Government to the District, the District shall not, without the consent of the Majority Bond- holders hereafter charge, assign, pledge, mortgage or otherwise encumber any of its pro pert, real or personal, tangible or intangible, wherever situate, or the rev- P enues arising therefrom. SECTION 20. The District shall duly and punctually pay the principal of and interest on the Bonds at the dates and places and in the manner provided there- in-}according to the true intent and meaning thereof, and also all other sums becom- ing due hereunder. SECTION 21. The District shall at all times, so long as any of the Bonds shall be outstanding, take or cause to be taken all such action as from time to time may be necessary to preserve its corporate existence and to preserve and renew all franchises rights of way, easements, permits, and licenses now or hereafter to it granted or upon it conferred, and shall comply with all valid laws, ordinances, re- gulations,ulations and requirements applicable to it or its property. The District shall not without the approval in writing of the Majority Bondholders take or suffer to be taken any steps for reorganization or to consolidate with or merge into any other corporations or to sell, lease, or transfer (or make any agreement therefor any of its properties, or any part thereof* SECTION 22. The District shall at all times maintain and preserve its properties and each and every part and parcel thereof in good repair, working order and condition, and shall from time to time sake all needful and proper repairs, renewals and replacements and useful and proper alterations, additions, bett4rments, a improvements, and im rovements and _shall, subject to contingencies beyond its reasonable control, at all times keep its plants and properties in continuous operation and use all reasonable diligence to furnish the consumers served by it with an adequate supply of electric energy and other services furnished by the District. SECTION 23. Except as specifically authorized in writing in advance by the Majority orit Bondholders, the District shall purchase all materials, equipment, and re- placements lacements to be incorporated in or used in connection with any of its properties out- right, and not subject to any conditional sales agreement, chattel mortgage, bailment g lease or other agreement reserving to the seller any right, title, or lien. SECTION 24. The District shall take out, as the respective risks are in- curred and maintain insurance of such classes and in such amounts, and from time to eke such changes in respect thereof, as the Majority Bondholders shall have de- termined to be advisable to safeguard the interests of the Bondholders* in shall upon request of the Majority Bondholders,submit to the Bondholder designated such q u h request a schedule of its insurance in effect on the date specified in such re- quest west and also originals or duplicate originals of such insurance policies as may be q in ,•,' requested. If the District shall at any time fail or refuse to take out or maintain -7- insurance or to make changes in respect thereof upon appropriate request by such Bondholder or Bondholders, such Bondholder or Bondholders may take out such insur- ance on behalf and in the name of the District and the District shall pay the cost thereof. SECTION 25. In the event of the failure of the District in any respect to comply with the covenants and conditions herein contained with respect to the pro- curing of insurance, the payment of taxes, assessments, and other charges, the keep- ing of its properties in repair and free of liens and other claims or to comply with any other covenant contained in this Resolution, any Bondholder or Bondholders shall have the right (without prejudice to any other rights arising by reason of such de- fault) to advance or expend moneys for the purpose of procuring such insurance, or for the payment of insurance premiums, taxes, assessments, or other charges, or to save the properties of the District from sale or forfeiture for any unpaid tax or assessment or otherwise, or to redeem the same from any tax or other sale, or to pur- chase any tax title thereon, or to remove or purchase any mechanics' liens or other encumbrance thereon, or to make repairs thereon, or to comply with any other covenant herein contained, or to prosecute or defend any suit in relation to the properties of the District, or in any manner to protect the properties of the District and the title thereto, and all sums so advanced for any of the fforesaid purposes with in- terest thereon at the rate of five per centum (5%) per annum shall be deemed a charge upon the Revenues in the same manner as the Bonds at the time outstanding are secured and shall be forthwith paid to the Bondholder or Bondholders making such ad- vance or advances upon demand. It shall not be obligatory for any Bondholder in making any such advances or expenditures to inquire into the validity of any such tax title, or of any of such taxes or assessments or sales therefor, or of any such mechanics' liens or other encumbrance. SECTION 26. The District shall not, without the approval in writing of the Majority Bondholders, (a) construct, wake, lease, purchase, or otherwise acquire any extensions or additions to the System, or enter into any contract in respect thereof, except such extensions or additions as may be financed with loans evidenced by the Bonds; (b) enter into any contract or contracts for the operation or maintenance of all or any part of the System, for the purchase of electric energy or for the use by others of any part of the System; of (c) incur any expenses for legal, engineering, supervisory, accounting, or other similar services for the System, except such reason- able expenses as are incurred in the routine course of business. SECTION 27. The District shall at all times keep proper books, records, and accounts in which full and true entries will be made of all of the dealings, business, and affairs of the District, in accordance with good accounting practice. The District shall furnish to each Bondholder: (a) not less than once each month, a statement of operations for the preceding month, including, without limitation, an analysis of the System's revenues, expenses, and consumer accounts for the preceding month, and, if directed by the Majority Bondholders, such statement shall be in such form and include therein such information as may be specified in such direction; and (b) within thirty (30) days after the close of each fiscal year full and complete reports, certified by its Treasurer, of its financial condition as of the end of such fiscal year and of its System operations for such period, and if requested by the Majority Bondholders, such reports shall be audited and certified by independent public accountants satisfactory to such Bondholder or Bondholders. Any Bondholder, through its agents, representatives, accountants, or attorneys, shall at all times during reasonable business hours have access to, and the right to inspect and make copies of, any or all books, records, and accounts and any or all invoices, contracts, leases, pay rolls, cancelled checks, state- ments, and other documents and papers of every kind belonging to or in the possession of the District or in anywise pertaining to its business or the System. SECTION 28. The District hereby covenants and agrees for the benefit of the Bondholders, that it will from time to time adopt such further resolutions or make, "~ execute, deliver or record such further instruments and further assurances or do and perform such acts and things as may now or hereafter be authorized by law, or as may reasonably be required to comply with the terms and conditions of this Resolution and the Loan Contract or with any laws of the State of California now or hereafter enacted. -8- SECTION 29, Any Bondholder may, at any time or times in succession with- out notice to or the consent of the District and, upon such terms as such Bondholder may prescribe, grant to any person, firm, or corporation who shall have become obli- gated to pay all or any part of the principal of or interest on any Bond held by or indebtedness owed to such Bondholder or who may be affected by the lien hereby created, an extension of the time for the payment of such principal or interest, and after any such extension the District will remain liable for the payment of such Bond or indebtedness to the same extent as though it had at the time of such extension con- sented thereto in writing. SECTION 30. In the event that any properties of the District (other than the Donner Lake System) shall be taken under the power of eminent domain, all pro- ceeds and avails therefrom, except to the extent that all Bondholders shall consent to other use and application thereof by the District, shall forthwith be `paid into the Special Revenue Fund. SECTION 31. The District shall not at any time employ or enter into any con- tract for, the employment of any manager or superintendent of the System, unless such employment or such contract shall first have been approved by the Majority Bondholders. If during such periods as the District shall be in default in the making of a payment or payments of principal of or interest on one or more of the Bonds, the Majority Bond- holders shall at any time give notice to the District that, in their opinion, any such transmission and distribution system, transmission line or generating plant, which is part of the System, is not being efficiently operated, and shall request the termination of the employment of any such manager or superintendent, or of any such chief operator, engineer or employee or shall request the termination of any ope- rating contract in respect of any such transmission and distribution system, trans- mission line or generating plant which is part of the System, the District shall terminate such employement or operating contract within thirty (30) days after the date of such notice. All contracts in respect of the employment of any such manager or superintendent, or any such chief operator, engineer or employee, or for the opera- tion of any such transmission and distribution system, transmission line or gen- erating plant, which is part of the System, shall contain provisions to permit com- pliance with the foregoing covenants. SECTION 32. The District shall well and truly observe and perform all of the covenants, agreements, terms, and conditions contained in the Loan Contract on its part to be observed or performed. SECTION 33. If one or more of the following events (hereinafter called "events of default") shall happen, that is to say (a) default shall be made in the payment of any installment of or on account of interest on or principal of any Bond or Bonds when and as the same shall be required to be made, and such default shall continue for thirty (30) days; (b) default shall be made in the due observance or performance of any other of the covenants, conditions, or agreements on the part of the District in any of the Bonds or in this Resolution contained, and such default shall continue for a period of thirty (30) days after written notice specifying such default and requiring the same to be remedied shall have been given to the District by any Bondholder; (c) the District shall file a petition in bankruptcy or be adjudicated a bankrupt or insolvent, or shall make an assignment for the benefit of its creditors, or shall consent to the appointment of a receiver of itself or of its property; (d) a receiver for the District or any substantial portion of its prop- erty shall be appointed and the order appointing such receiver shall not be vacated within 30 days after the entry thereof; (e) the District shall forfeit or otherwise be deprived of its cor- porate charter or franchises, permits, or licenses required to carry on any material portion of its business; or (f) a final judgment shall be entered against the District and shall remain unsatisfied or without a stay in respect thereof for a period of 30 days; -9- then in each and every such case any Bondholder may, by notice in writing to the Dis- trict and delivery of a copy thereof to the other Bondholders, declare all unpaid prin- cipal of and accrued interest on any or all notes held by such Bondholder to be due and payable immediately; and upon any such declaration all such unpaid principal and accrued interest so declared to be due and payable shall become and be-,due and pay- able immediately, anything contained herein or in any Bond or Bonds to the contrary notwithstanding; provided, however, that if at any time after the unpaid principal of and accrued interest on any of the Bonds shall have been so declared to be due and payable, all payments in respect of principal and interest which shall have be- come due and payable by the terms of such Bond or Bonds shall be paid to the respect- ive Bondholders, and all other defaults hereunder and under the Bonds shall have,,-:been made good or secured to the satisfaction of all of the Bondholders, then and in every such case, the Bondholder or Bondholders who shall have declared the principal of and interest on notes held by such Bondholder or Bondholders to be due and payable may, by written notice to the District and delivery of a copy thereof to the other Bond- holders, annul such declaration or declarations and waive such default or defaults and the consequences thereof, but no such waiver shall extend to or affect any subsequent default or impair any right consequent thereon. SECTION 34. If one or more of the events of default shall happen the Majority Bondholders, for itself or themselves and as the agent or agents of the other Bond- holders, personally or by attorney or trustee selected by such Bondholder or Bondholders, in its or their discretion, may, in so far as not prohibited by law: (a) collect and receive all moneys then on deposit in the Special Revenue Fund and apply said moneys ratably, first, to the payment of in- debtedness secured by the Revenues pledged herein other than the principal of or interest on the Bonds; second, to the ratable payment of interest which shall have accrued on the Bonds and which shall be unpaid; third, to the ratable payment of or on account of the unpaid principal of the Bonds; and the balance, if any, shall be paid to whosoever shall be entitled there- to; and the Board of Directors, by the adoption of this Resolution, does hereby approve such payment of the moneys in the Special Revenue Fund to such Bondholders and does hereby expressly authorize and direct the appro- -_ priate officers of the District, upon written demand of such Bondholders, forthwith to sign and deliver all necessary written orders or other docu- ments in writing for such payment to such Bondholders of all moneys in the Special Revenue Fund to be applied as aforesaid; s J (b) proceed to enforce the rights of the Bondholders under this Reso- lution by mandamus or by a suit or suits in equity or at law, whether for the specific performance of any covenant or agreement contained in this Resolution or in the Bonds, or in aid of the exercise of any other right or power herein or by law or by statute granted or for the enforcement of any other appropriate legal or equitable remedy as may be deemed most effectual to protect and enforce the rights of the Bondholders hereunder and to levy or cause to be levied taxes in amounts sufficient to protect such rights; (c) upon application to a court of competent jurisdiction, have appointed, as a matter of right, a receiver of the System, including all tolls, rents, revenues, issues, income, receipts, profits, benefits, and additions derived, received or had thereof or therefrom, with power to operate and maintain the System, collect, receive and apply all revenue, income, profits and receipts arising therefrom, and prescribe all rates, toils and charges, in the same way and manner as the District might do; whenever all defaults in the payment of principal of and interest on the notes and any other defaults under this Resolution shall have been made good, such receiver shall be discharged by the court and shall surrender control of the business and possession of the property in his hands to the �.. District; and (d) take possession and control of the System and proceed to operate the same and to collect and receive the income thereof, and after paying all necessary and proper operating expenses and all other proper disburse- ments or liabilities made or incurred in connection with such operation, use the surplus, if any there shall be, as follows: First, in the payment of all outstanding past due interest on the Bonds, so far as said net revenues will go, and paying pro rata the interest due on each Bond when there is not -10- enough to pay in full all of the interest due on all the Bonds, and second, if any sums shall remain after the payment of interest as afore- said, then in the payment of the principal of the Bonds which, by the terms thereof, shall be due and payable in accordance with the terms thereof, and paying pro rata when the money available is not sufficient to pay in full; when all legal taxes and charges, and all arrears of interest, and all matured principal of the Bonds have been paid in full, the control of the business and the possession of the System shall then be restored to the Dis- trict. The privilege herein granted shall be a continuing one so often as the occasion therefor shall arise. SECTION 35. All of the provisions of this Resolution shall constitute a con- tract between the District and the Bondholders, and no amendment, alteration or modifi- cation of this Resolution shall be made which shall in any manner impair, impede or lessen the rights of the holders of the Bonds then outstanding. SECTION 36. Every right or remedy herein conferred upon or reserved to the Bondholders shall be cumulative and shall be in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or by statute; and the pursuit of any right or remedy shall not be construed as an election. SECTION 37. The proper officers of the District are hereby authorized, em- powered and directed, for and on behalf of the District and in its name, to do and per- form all acts and things and to execute and deliver all instruments which they shall, in their discretion, deem necessary or advisable to carry out and give effect to the terms and provisions of this Resolution. SECTION 38. If any paragraph, section, subdivision, sentence, clause, phrase or portion of this Resolution shall for any reason be held illegal or invalid or unenforceable, such decision shall not affect the validity of the remaining por- tions of this Resolution and the Board of Directors hereby declares that it would have adopted this Resolution and each and every paragraph, section, subdivision, sentence, clause, phrase or portion hereof and authorized the issuance of the Bonds pursuant hereto irrespective of the fact that any one or more paragraphs, sections, subdivisions, sentences, clauses, phrases or portions of this Resolution may be held illegal, in- valid, or unenforceable. SECTION 39. This Resolution shall take effect immediately. PASSED AND ADOPTED THIS 17 day of September .199668_. President, Board of irectors of Truckee Public Utility District CERTIFICATE I, Francis Longo ,Clerk of TRUCKEE PUBLIC UTILITY DISTRICT (herein- after called the "District` do hereby y certif that the attached Resolution is a full, true and correct copy of the Resolution duly adopted by the Board of Directors of the District at a meeting of the Board of Directors of the District, duly convened and held pursuant to and in accordance with the bylaws of the District and the laws of the State of California on the 17th day of September,1968, and that said Resolu- tion is still in full force and effect. IN WITNESS WHEREOF, I have hereunto subscribed my name as Clerk and affixed the corporate seal of the District. �lr Clerk of Truckee rublic 95riity District (Corporate Seal) -11- RESOLUTION NO. 6823 of the TRUCKEE PUBLIC UTILITY DISTRICT WHEREAS, the County of Nevada desires to establish Ponderosa Palisades Unit #3 Assessment District providing for installation of a water distribution system within Ponderosa Palisades Unit #3, and WHEREAS, it is necessary for this district to enter into an agreement, with the County of Nevada to accomplish said installation, NOW THEREFORE BE IT RESOLVED, by the Board of Directors of the TRUCKEE PUBLIC UTILITY DISTRICT as follows: 1. That said agreement, a copy of which is attached hereto is hereby approved. 2. That the President and Clerk of the Board are hereby authorized and dir- ected to sign said agreement for and in behalf of this District. Passed and adopted this 17 day of September 1968 by the following roll call vote: AYES: Rose Firpo , Waters , Moore Doyle , NOES: None ABSENT: None President of the BoargYof Directors Clerk and ex-Officio Secre ry 101 September 17, 1968 A regular meeting of the Board of Directors of Truckee Public Utility District was held September 17, 1968, at the main office of the District in Truckee, California, at 7:30 p.m. o'clock. District employees present: Longo, Cattan, Paulus, Osburn Guests present: M. McDonough, C. S. Beavers, B. Walters, D. Westbrook, L. Russell, J. Houlgate, P. Chamberlain, W. Moul, R. Vail, M. Ring: The meeting was called to order by President Doyle, who presided; Francis Longo, secretary, acted as secretary of the meeting. Upon roll call the secretary reported that the following members of the Board of Directors were present: Rose, Doyle, Moore, Waters, Firpo, said persons being all of the members of the Board of Directors. The president reviewed the amendment dated as of June 11, 1968, to the REA loan contract, dated as of October 28, 1963, heretofore entered into between the District and the Government providing for an additional loan in an amount not to exceed $115,000 to finance the construction of certain electric facilities adding to the then existing electric system of the District. The president then presented to the meeting a form of proposed re- solution providing for the issuance of $115,000 principal amount of bonds of the District, and related purposes, and stated that the issuance of bonds in this amount was contemplated by the amendment to theloan contract, and that the form of the resolution had been approved by counsel for the District. Counsel then read to the meeting the form of the proposed resolution. Such form was then fully discussed, and on motion duly made and seconded, the following resolution was adopted: 102 PONDEROSA PALISADES, ASSESSMENT DISTRICT FOR UNIT #3 RESOLUTION FOR PARTICIPATION WITH NEVADA COUNTY An agreement was received from Mr, Edwin Ness similiar to those other agreements, where the creating of special assessment district providing for the installation of facilities for Ponderosa Palisades Unit #3. Manager read letter from Mr. Chamberlain similiar to this. Manager read agree- ment with Ponderosa Palisades. This agreement which was made in 1962 seems sufficient for their requirements, in lieu of any other additional requirements. Subject was open for discussion. Mr. Beaver's attorney stated that this agreement covers the installation by the County under special assessment proceedings of a distribution system within Unit #3. He stated that there are some facilities fees which the District re- quires that they have not been familiar with. There is a question as to the characterization of these facilities as to whether they are supply or distri- bution. They request that the District adopt the agreement with the county on the basis of what it calls for. The agreement was approved in 1962. The items which they were not familiar with was the installation of an additional tank in stead of the original contemplated 1/2 acre tract Mr. Beavers had dedicated to the District under the terms of the 1962 agreement. The terms were that the District would supply an adequate supply of water. There being no further comment on this agreement, it was recommended that it be adopted. It was moved by Director Rose and seconded by Director Firpo that the Board adopt Resolution #68-23. The Resolution was adopted by a roll call vote. The Resolution attached hereto being a part of the minutes. WATER RATE ORDINANCE This Ordinance was adopted at one time but nothing further was done. This pre- sently submitted ordinance does not include facilities fees, only connection fees. Director Firpo stated that we should adopt the Ordinance with its entirety with the facilities fee included or not adopt(-d it at all. It is Brian Walters recommendation that the presently submitted Ordinance, with rates and fees be put into effect without further delay, and the method of the facilities be worked out by the Directors at an early date. There was a motion on the floor of the last regular meeting to adopt a similar. Ordinance but it died clue to the lack of a second. A motion was in order to rescind the Ordinance #68-05 which was adopted at a special meeting on July 30, 1968, in order for it to be re-adopted at this time. It was moved and seconded that first approved Ordinance #68;-05 be rescinded. Being no further question on this, it was rescinded by a roll call vote. So ordered. Director Moore moved and Director Rose seconded that we adopt Ordinance #68-05 as of September 17, 1968, in the form in which it is now presented. The Ordinance was adpoted by the following roll call vote: AYES: Rose, Doyle, Moore NOES: Waters, Firpo So carried. Mr. Russell and Mr. Houlgate excused themselves at this time. SANITARY DISTRICT, USE OF FREEWAY CROSSING Mr. Westbrook thanked the Board for putting the Sanitary District on the agenda for this evening. Mr. Westbrook and his attorney have been trying to come up with some type of deal to use our easement and tube across the freeway. It was suggested that they give us a 12 inch line inside of the tube for the use of the tube. 1- 04 Mr. Westbrook's attorney suggested that it might be advantageous for their District to move 100 feet east and open trench and there would be only 170 feet of boring as against the 269 feet. Director Moore suggested that if another line is put through there, then ours could be changed at this time also. The Board agreed that the Sanitary District would be allowed to use this Dis- tricts crossing if necessary. r-" DONNER LAKE SOURCE A letter was received from Bob Leighton of Sierra Pacific Power, and they are requesting that the District file and acquire rights for water that will be the product of Stampede Reservoir, and then transfer these rights to them in ex- change for availability for water from Donner Lake. Mr. Walter's survey on furture water sources in the District indicated that Donner Lake in many respects is the best water source in the area. Sierra Power requests we pay them for water at the rate of 1.1/2� per thousand gallons until they become short of water, and then we willbuy replacement water from them which will come out of Stampede Reservoir. The water at Stampede will be more expensive. Director Rose proposed that we should go ahead on this so we may get our equal share from Stampede. Manager stated that we are dealing with 662 million gallons of water. If it is necessary for us to replace this, what would our annual cost be. He stated that if it were in the neighborhood of $20.00 per acre it would cost dbout $40,000 annually. Manager stated that there are four counties who share interest in Stampede. Nevada, Placer, Sierra, and El Dorado. Manager inquired of Mr. McDonough of how much and to whom would we go for permission to get water. i Mr. McDonough stated that the government has not decided how they will contract the water. Manager concluded that this should be followed up on, but states that at this time we should realize that when we contract for that Stampede water, we want to make sure we will not have to pay for it before we are in position to fin- ancially do so. In approximately 10 years we should be able to get into this without it hurting us. Chairman stated we should proceed with matter .and get it consumated as rapidly as possible because we are going to need it. Manager and Mr. Walters will have a meeting on this in early October. CALL FOR BIDS, POLES Manager stated it is necessary for the District to call for bids on poles to be delivered sometime in November. These poles will be needed before spring for the feeder lines in Prosser Lake View Estates. It will require approximately 15-16 poles. Manager stated he would like to order a truck load now at the cost of $3,500. Poles will also be needed for the freeway lighting near the cemetary and Donner Lake interchange. Discussion ensued. The Board authorized the Manager to call for bids on poles. TRANSFORMERS, REQUIRED FOR LINE EXTENSION Manager stated that transformers will be needed by November at the cost of $2400. Discussion followed. Board granted authorization to acquire. RESOLUTION NO. 6824 of the TRUCKEE PUBLIC UTILITY DISTRICT WHEREAS, Bank of America National Trust and Savings Association requires that this District's Board of Directors designate certain persons be authorized access to safe deposit box at the local branch, NOW THEREFORE BE IT RESOLVED, that Francis Longo, Clerk and ex- Officio Secretary of the Board and E. T. Paulus, treasurer both being officers of this District be and they are hereby authorized to have access to said box. Passed and adopted this 17 day of Se tember 1968 by the f o l l owing roll call vote: AYES: Rose Firpo Waters , Moore Doyle • NOES: None • ABSENT: None • H fi President of the Board o irectors Clerk and ex-O fFiciO Secretary s. ..'C S`�: ' .1�.' '� .. •^ 1,� 11`� ,yam `. °s: ..,,�yEE -.`' 'r #' . . ' .' .�, •_ _ �a. ,. �F' 4•; •- -� t,' }y !. , .Y>. ;4 't y..53 's4-. '.-T.l i,�_y1,1 t 1l •+ ti • la.`.r• a a .. _. ', r+r a 4^a�� i_ . }. " fit'io c 7 i ._ #'s i xY._srs. ♦,' tt;�"a► � r.•,§ ';X 1:7-;M. P }" i� _ �}S'AX �. it t 16 its ln�d :ud ~17' 232.b4 Dept Of BvicyWWt.l. Ar«,rd supply s6so 82 I, tuna ElectrIC (77,64) Neptune Meter CO. _ 2 5.40 KamlYn osb 3776,23 ___(40509 53 : . ptpproyedBilks -GROSS 19�6$ O.T, -GROSSNET 385.60 323.3.3 Burdick 500.00 410.30 C,attan 5.55 301.55 260.76 Grow �4 476.46 391.74 b0. mitam lOb. 4 432.53 332.27 Hensley $.33 304.33 241.20 Lemon 162.50 129.62 osburn 4SO.00 353.SO Paulus 353.60 278.35 Silva 377.60 326.81 Valadez 170.63 135.91 Watts 210 00 166.36 Wirth 329.60 277.90 �3627 .95} Wright 1. 445 . 13,4to.43 gank Balance BILLS FOR BOARD'S APPROVAL 12.80 Inc.Mbi ers 18.25 ' 162.57 Alpha Explosives Allied Automotive 32.617 Buck&011ies u. Builders Service Center 19.85 5. BrLmdldges UI f A• Carlisle &-Co. �•y? �, Supp 1 y Co. Farmers Machinery 00 2 5.()O Harker & Harker 8,00 Larry J a cob s en Jack's Mobile Service Osburn's Super Service Pitney Bowes 2 , Poole Fire Fqulpment Co. 17'2, Usburn's Garage 5•t�{1 Truckee Donner Disposal Service S6."l State Comp. Ins. Fund 21.2'1 Truckee Rents 1 •° Weich's Hardware 5.37 Walt's Gulf Service 12 Albers, Inc. 17 7. 24 Vincent Supply CO- 80. The western Hardware 10.88 J R. Bradley 51 .94 The Wall St. Journal 1384.07 �edco Inc. 5oa.oc� 1U0.�0 Directors Masonic Temple 100.00 Paul Chamberlain . 80.24 ern Hardware Tool Co. 100.77 � West it CO ..Standard o 169.306.60 Gordon Ii. Huber Coo Multigraph Addressograph 9.15 SUO.OQ 4 1 7.19 Francis Lo8o er Millen { Sencm go, K�utt�ng , ls paid 9 253.24 Bank balance afer bil , a j � A S i l 105 SAFE DEPOSIT- RESOLUTION Manager recommended that Tom Paulus and he be authorized to have entry into the safe deposit box. This Resolution #68-24 was moved by Director Waters and se- conded by Director Firpo. Resolution #68-24 was adopted by a roll call vote. Resolution attached hereto being a part of the minutes. MANAGER'S REPORT a. Water report The line under Trout Creek developed a leak, however, it was repaired in approximately 27 hours. A leak developed in a new 10 inch line which required draining. This will be fixed tomorrow and back in service. This line is located between Gateway and the freeway. Manager has a report made by Brien Walters on the master water plan of Truckee Public Utility District which is a preliminary of Brians final report. A special meeting will be held on Tuesday, September 24, 1968, to discuss and come to a conclusion on the facilities fees. b. Electric connections in 1968 to date Manager gave Directors one sheet titled: Cost of Overhead Line for Sub-div- isions. The cost of transformers and meter services are not included. This analyzes the net results of the extensions being made through REA borrowing; what it does in total customers, what the investment in borrowing is. Manager read list of sub-divisions and total of customers served. This is to give the Directors some idea of where the dollars are in these fac- ilities and the total number of customers served. In 1967, 27 customers were connected to lines. There is a sizable increase in the number of customers connected this year. r- c. By the end of 1968, 60 customers will hook up to the lines. This is double of last year. Mr. Cattan showed the Directors a map of the Donner Lake inter-change. He. and Mr. Longo will try to borrow Sierra Pacific's portable sub-station for a tem- porary service at that point. At the location of Kings Cole Chalet, we have re-conductored from our tie point by the American Oil to that point, with #20 overhead line which is going to be of adequate capacity to serve that area for the next 10 to 1S years. From that point on to the next pumping station which is located on the South Side of the road, we will bury the line using under ground conductors a distance of 1690 feet. Beyond that the underground line will continue a distance of 880 feet to a total of 2,700 feet of underground line which will be installed about the first part of November. This line will by-pass the line which presently goes over the top of the houses. In addition to this, the District is going ahead with the lines at Prosser Lake View Estates, and will do balance of Sierra Meadows as rapidly as possible. The District cut down a tree behind an old Hotel at Donner Lake to accommodate line extension. The prints we got from Sierra Pacific Power Company showed position to be on property line. Lot owner called advising us we had removed a �-- tree from his property. Further survey showed print to be wrong. Property owner to be right. The gentleman whose property was involved, was quite irate but we have heard nothing further from him at this time. Manager read a letter directed to the Board from Truckee-Tahoe Lake Estates, Inc. They are requesting water and electric services to an extension at Prosser Lake View Estates, Inc. Lot 224 thru lot 437. Manager showed a map of the planned ex- tensions. R Manager recomended we write t a letter stating that. the District will serve but there will be requiremen in a dition to the distribution lines in there. It will also require addi�tj6nal sou ce and storage.- This will -enable them to make the plans on that basis. Director Rose is an I facer of this corporation. Chairman inquired of Mr. Cham- berlain what the abilities would b when it comes up before the Board for a vote. Mr. Chamber in will check on this matt r for definite procedure. Manager tated that one of the ladies is t office will be leaving and we will be hir'ng another girl soon. Th e being no further business to come before th eeting, on motion duly made, s conded and unanimously carried, the meeting adjourn Adjourned at 10:30 P.M. PAUL A. DOYLE, 1 F• /1 l KAROLYN OSBURW RECORDING SECRETARY � d 1. r �p 1 1 Manager recomended we write them a letter stating that the District will serve but there will be requirements in addition to the distribution lines in there. It will also require additional source and storage. This will enable them to make the p 1 ans on that basis. Director Rose is an officer of this corporation. Chairman inquired of Mr. Chamberlain what the liabilities would be when it comes Vp before the Board for a vote. Mr. Chamberlain will check on this matter for definite procedure. Minutes of the meeting of September 3, 1968 were approved as written and W corrected. ' It was moved by Director Waters, and seconded by Director Firpo Bills paid and Bills for the Boards approval be paid as listed. So carried. The Bills attached hereto being a part of the minutes. Manager stated that one of the ladies in the office will be leaving and we will be hiring another girl soon. There being no further business to come before the meeting, on motion duly made, seconded and unanimously carried, the meeting adjourned. Adjourned at 10:30 P.M. r Paul A. Doyle, Pres i ent"o the Boar o i rectors F I. KarJoyn L. urn, Records g Secretary i s st.