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HomeMy WebLinkAbout2014-07-16 Agenda Truckee Donner Public Utility District Financing Corporation Directors Joseph R.Aguera 6:00 PM, SPECIAL MEETING Jeff Bender Bob Ellis Wednesday, July 16, 2014 J.Ron Hemig (or immediately after regularly scheduled meeting of the Tony Laliotis Truckee Donner Public Utility District Board of Directors) General Manager TDPUD Board Room Michael D.Holley AGENDA 1. Call to order 2. Roll call 3. Public Input - This is time set aside for the public to address the Board on any matter not on the agenda. Testimony related to any agendized matter should be addressed at the time that item is considered. (The public may comment on any subject that is not on the agenda. Each speaker will be limited to three (3) minutes, but speaker time may be reduced at the discretion of the Board President if there are a large number of speakers on any give subject.) BUSINESS ITEM 4. Consideration of Accepting the Annual Reports and Financial Statements ADJOURNMENT The agenda is available for review at the TDPUD office and the Truckee branch of the Nevada County Library Posted and mailed on Friday, July 11, 2014 Barbara Cahill, Deputy District Clerk A copy of the agenda packet is available for public review at the district administrative office: 11570 Donner Pass Road.Public participation is encouraged.The meeting location is accessible to people with disabilities. Every reasonable effort will be made to accommodate participation of the disabled in all of the District's public meetings. If particular accommodations for the disabled are needed(i.e.disability- related aids,or other services), please contact the Clerk of the Board at(530)582-3909 or BarbaraCahill@tdpud.org,at least 24 hours in advance of the meeting. 11570 Donner Pass Road-Truckee,CA 96161 -Phone: (530)587-3896-www.tdpud.org Agenda Item # 4 FINANCE BUSINESS ITEM To: Board of Directors From: Robert Mescher Date: July 16, 2014 Subject: Consideration of Accepting the Annual Reports and Financial Statements 1. WHY THIS MATTER IS BEFORE THE BOARD Review of Annual Reports and Annual Financial Statements are solely within the purview of the Financing Corporation Board. 2. HISTORY The Financing Corporation Board reviews and approves the annual reports. Also provided is a copy of the most recent audited financial statements of the Truckee Donner Public Utility District. The annual reports are prepared according to the requirements of each bond's continuing disclosure statement for the 2003 and 2006 Certificates of Participation. 3. NEW INFORMATION Attached are the following annual reports: • Certificates of Participation Series 2003A and 2003B reports as of December 31, 2013 (Attachment 1) • Certificates of Participation (Water System Improvements) Series 2006 as of December 31, 2013 (Attachment 2) • Truckee Donner Public Utility District annual audited financial statements as of December 31, 2013 (Attachment 3) The reports for the Certificates of Participation 2003A and 2003B are the final reports since the final payment was made January 1, 2013. 4. FISCAL IMPACT There is no fiscal impact associated with this action. 5. RECOMMENDATION Approve the annual reports and financial statements. Robert Mescher Michael D. Holley Treasurer Secretary Attachment 1 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REFUNDING CERTIFICATES OF PARTICIPATION SERIERS 2003A AND 2003B ANNUAL REPORT 12/31/2013 Attachment 1 TRUCKEE DONNER PUBLIC UTILITY DISTRICT History of Electric Service Charges January January January January January 2009 2010 2011 2012 2013 Domestic Electric Rates: no change no change no change no change Permanent Residents Customer Charge:per month $6.76 $6.76 $6.76 $6.76 $6.76 Energy Charge per kilowatt-hour $0.13200 $0.13200 $0.13200 $0.13200 $0.13200 Domestic Electric Rates: Non-Permanent Residents Customer Charge:per month $6.76 $6.76 $6.76 $6.76 $6.76 Energy Charge per kilowatt-hour $0.15100 $0.15100 $0.15100 $0.15100 $0.15100 Small Commercial Rates: Commercial Customers with monthly demand less than 50 kilowatts Customer Charge:per month $13.10 $13.10 $13.10 $13.10 $13.10 Energy Charge per kilowatt-hour $0.15900 $0.15900 $0.15900 $0.15900 $0.15900 Medium Commercial Rates: Commercial Customers with monthly demand greater than 50kW and less than 200kW Customer Charge:per month $130.81 $130.81 $130.81 $130.81 $130.81 Energy Charge per kilowatt-hour $0.09400 $0.09400 $0.09400 $0.09400 $0.09400 Demand Charge per kilowatt of demand $12,86 $12.86 $12.86 $12.86 $12.86 Large Commercial Rates: Commercial Customers with monthly demand greater than 200kW Customer Charge:per month $573.78 $573.78 $573.78 $573.78 $573.78 Energy Charge per kilowatt-hour $0.09700 $0.09700 $0.09700 $0.09700 $0.09700 Demand Charge per kilowatt of demand $12.29 $12.29 $12.29 $12.29 $12.29 Attachment 1 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Connection Charges and Facilities Fees For 200 amp Service as of April 7,2008 Unchanged as of June 4,2014 Connection Facilities Size and Type of Service Charge Fees Three Wire Overhead -Temporary Actual Cost -Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 Three Wire Underground(overhead transformer) -Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 Three Wire Underground(padmount transformer) Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 Attachment 1 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Customers,Sales,Revenues and Demand 2009 2010 2011 2012 2013 Number of Customers: Residential 11,621 11,643 11,682 11,719 11,787 Commercial and Other' 1,533 1,502 1,503 1,500 1,496 Total Customers 13,154 13,145 13,185 13,219 13,283 Kilowatt-Hour(kWh)Sales: Residential 75,927,237 78,191,410 80,536,130 77,161,989 77,989,624 Commercial and Other 70,948,129 69,455,296 69,442,089 68,852,489 69,399,611 Total kWh Sales 146,875,366 147,646,706 149,978,219 146,014,478 147,389,235 Revenues from Sale of Energy: Residential $11,644,885 $12,008,819 $12,334,994 $11,869,192 $12,001,085 Commercial and Other 10,511,007 10,358,876 10,309,276 10,227,167 10,284.196 Total Revenues from Sale of Energy $22,155,892 $22,367,696 $22,644,270 $22,096,359 $22,285,282 Peak Demand(MW) 35.9 37.9 32.8 36.9 34.3 Attachment TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Largest Electric Customers-2013 12 Months Customer Type of Business KWh Sold Electrical Billings District Water Department(1)(2) Water Utility 8,694,215 1,243,622 Tahoe Truckee Sanitation Agency(2) Sewer Plant 7,897,415 942,506 Tahoe Forest Hospital(2) Hospital 6,912,876 899,298 Tahoe Truckee Unified School District(2) Education 2,476,310 375,970 Safeway Stores Private/Commercial 1,939,500 242,796 (1) Represents pumping charges incurred by District water system (2) Denotes customers with multiple meters and service locations. The kWh sold and electrical billings are a sum of all customer's meter locations TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System-Summary of Historical Net Revenues and Selected Balance Sheet Information 2008 2009 2010 2011 2012 2013 Attachment 1 Revenues(1) Sales to Customers $20,104,157 $20,552,874 S20,922.276 S21.106,358 $20,589,369 S20.939,839 Interdivisienat Sales(2) 1,500.671 1,478,459 1,364,439 1,213,270 1,267.050 1,238,683 Standby Charges 20,860 26.990 25.470 25,4B0 25.490 25.140 Facilities Fees f3) 287,370 110,459 43,518 151,102 144.313 121,200 Other(4) 1,225,541 1.201,106 1.308.557 1,479,926 1,478,379 2,009,712 Income from Investments 358,637 71,971 36,102 35,405 27,706 9,383 Total Revenues $23,497.236 S23.441,1159 S23,700,363 S24,011,541 S23,532,307 S24,343,957 Rate Stabilization Fund Transfer(s) 0 0 0 0 0 0 Total Adjusted Revenues 5237497,236 $23,441,859 $23,700,363 $24,011.541 $23,532,307 $24.343.957 Operations and Maintenance Costs 16) Power Purchases $10,627,405 $10,087,650 $10,645,668 S11,342,992 S10,571,359 S12,306,311 Operations and Maintenance 3,260,176 3.477,688 3,347,960 3,330,131 3.416.797 3.628.748 Administrative and General 2,626.971 2.781,746 2,414,567 2,120.740 2.200,410 2,339.169 Consumer Services(7) 1,256,241 1.243,074 1,445,779 1.959,336 1.822.042 1,832,407 Interest Expense(a) 24,338 22.150 16.764 13.020 9.827 5.590 Total Operation and Maintenance Costs $17,795,132 S17,612,308 $17,870,728 S10,766,219 $18,020.436 S20,112,225 Adjusted Net Revenues(Funds Available for Debt Service $5,702,103 S5.829,552 $%829,635 $5,245.322 S5,511.671 S4.231,732 Debt Service t'9) 3,418,650 3,415,413 3.408,381 3,392,23B 3,38B,300 3,285.000 Debt Service Coverage 1101 1.67 1,71 1.71 1.55 1.63 1.29 Selected Balance Sheet Information Fund Balances(December 31): General Fund $6.374.547 $7.362,194 $7.762,447 S7,577,115 S10,069,874 $11,519,067 Rate Stabilization Fund Balance 1.550.631 1,935,322 2,306.459 2,384.004 2.665.059 3.132.396 Total Fund Balances $7,925.178 S9.297.516 S10,068.906 S9,961.199 S12,734,933 S14,651,462 Net Plant in Service S33,444,016 $35,300,034 S35,443,322 S35,562.081 S38,292,312 Construction Work in Progress 3,309.758 3.360.837 4,640,458 5.473.764 3,141,752 3.441,390 Net Electric Utility Plant $36,753,774 $38.660,871 $40,083,780 $41,035,844 $41,434,065 S3,441,390 (1) Excludes Connection Charges. See'Rates and Charges'above. (2) Represents pumping charges to District water system and interdepartmental rent charged to the water department for use of the District Administrative Building which was financed by the Electric System. (3) Facilities Fees are charged to applicants for new service to cover the costs of infrastructure needed to meet the additional system demand. See'Rates and Charges'above. (4) Represents service transfer charges,late payment fees,building room rentals,WAPPA credit and miscellaneous receipts. (5) The Rate Stabilization Fund is used to mitigate rate increases. Pursuant to the Installment Purchase Agreement.Adjusted Revenues for coverage purposes include the amounts the District has authorized to be deposited in the Revenue Fund from the Rate Stabilization Fund pay Operation and Maintenance Costs and/or Debt Service. See'SECURITY AND SOURCES OF PAYMENT FOR THE 2003 CERTIFICATES—Defined Terms'and'—Rate CovenenP herein. (6) Excludes depreciation and amortization. (7) Includes all customer service, billing activity and customer information expenses. (8) Excludes interest on the 2003A/B Certificates which are shown in the debt service below. (9) Represents Debt Service on the Olstrict's 2003 A/B Electric Certificates of Participation for the Purchased Power Contract buy-out with IDACORP Energy L.P. (10) Adjusted Net Revenues divided by Debt Service. Attachment 1 A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis June 4, 2014 General Manager Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St., Suite 400 Los Angeles, CA 90071 Dear Ms. Cronin: Re: Truckee Donner Public Utility District Refunding Certificates of Participation Series 2003A and 2003B Pursuant to the requirements of Section 4 of the Continuing Disclosure Certificate for the above financing, I am including the Certificate of Authorized Officers, the District Incumbency and Signature Certificate and the Corporation Incumbency and Signature Certificate. In lieu of sending you 5 copies of the District's annual audit by Moss Adams, I sent you an electronic copy of the audit. I believe sending you this information completes the 2013 requirements of Section 4 of the Continuing Disclosure Agreement between the District and Bank of New York Mellon Trust Company. I previously sent you an electronic version of the District's 2014 budget. Please let me know if there is any other information that is required. It is my understanding that you will be providing me with a report certifying that the Annual Report has been provided pursuant to the Disclosure Agreement stating the date it was provided and listing all the Repositories to which it was provided. Regards, Robert Mescher Administrative Services Manager/Treasurer 11670 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 1A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis General Manager Michael D. Holley CERTIFICATE OF AUTHORIZED OFFICERS Name of Issue: Truckee Donner Public Utility District Certificates of Participation Series 2003A and 2003B Date: June 4, 2014 To: Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St., Suite 400 Los Angeles,CA 90071 1, the undersigned Treasurer of the Truckee Donner Public Utility District hereby certify that, those officers named upon the face of this certificate have been duly authorized, and are now acting and are qualified to sign written instruction, consents, certificates or other securities, etc., on behalf of this district, and that the specimen signatures appearing opposite the names and titles are the genuine signatures of such officers and that said agreement electing/authorizing these officers are now in full force and effect. You are further authorized to recognize these signatures until you receive revised written instructions to the contrary. Tony Laliotis President, Board of Directors G--- Michael D. Holley Clerk of the Board Certified by: — - Robert Mescher, District Treasurer 11570 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 1A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis General Manager June 4, 2014 Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St.,Suite 400 Los Angeles, CA 90071 RE: Truckee Donner PUD COP Series 2003-A & 2003-B Dear Ms. Cronin: Attached is a copy of the DISTRICT INCUMBENCY AND SIGNATURE CERTIFICATE which was executed on April 3, 2003. The current board members serve terms as follows: Tony Laliotis President,Board of Directors Term expires in December, 2014 Bob Ellis Vice President Term expires in December, 2016 Jeff Bender Director Term expires in December, 2016 J. Ron Hemig Director Term expires in December, 2014 Joseph R. Aguera Director Term expires in December, 2016 Michael D. Holley District Clerk& Secretary Employed as the General Manager Barbara Cahill Deputy District Clerk Employed as the Executive Secretary Robert Mescher District Treasurer Employed as the Administrative Services Mgr Tricia Phillips Assistant District Treasurer Employed as the Sr. Accountant& Analyst The Board holds annual elections for officers. If you have any further questions or need any additional information, please do not hesitate to contact me. Regards, Robert Mescher Administrative Services Manager 11670 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org 3r Attachment 1A S26,265,000 �► TRUCKEE DONNER PUBLIC UTILITY DISTRICT REVENUE CERTIFICATES OF PARTICIPATION,SERIES 2003 s, rt $16,930,000 $9,335,000 Series 2003A Taxable Series 2003E s., DISTRICT INCUMBENCY,SIGNATURE A_INT SECRETARY CE.RTMCATE The undersigned hereby states and certifies that: 1. I am the duly appointed,qualified and acting Secretary of the Board of Directors of the Truckee Donner Public Utility District,a public utility district duly organized and existing under the laws of the State of California(the"District'),and, as such,I am familiar with the facts herein certified and am authorized to certify the same. 2. The following are now, and have continuously beer,since the dates of beginning of their respective current tees ofoLnce shown below,the duly elected,qualified arid acting membe„ of the Board of Directors of tha District,and the dates of the beginning and ending of their respective current terms afolffice are hereunder correctly designated opposite Their names Date Of Date of Beginatng of Ending of Nar:3e Current Terra Current Term J. Ron Hemig, President 12/01l02 12/0I/06 James A. Maass,Vice President 12/01/00 12/01/04 Joseph A Aguem, Director 12/01/00 12/01/0A Patricia S.Sir~ton,Director 12/01/02 12/01/06 Nelson Van Guady,Director 12/01/00 12101/04 3. The signatures set forth opposite the names and titles of the following perseas are true and correct specimens of their genuine signatures Name Title Signature J. Ron Hemig President of the s Board of Directors Peter L.Holzrneis~ter Clerk of the Board o - of Directors and General ManagerUki , t DOCSSF136300v 1`22925 0006 Attachment 1 A 4. The following documents all bear the manual signature of the President of the Board 'b f-Director and/or the Clerk of the Board of Directors or the General Manaaer named herein: Y' (a) the Installment Purchase Agreement crated as of March 1,2003,by and between the Truckee Donner Public Utility District Financing Corporation(the "Corporation") and the District; (b) the Trust Agreement dated as of March 1,2003,by and among the District, r the Corporation and BNY Western Trust Company, as trustee(the Trustee ) f, (e) the Purchase Contract dated March 27,2003,by and between the District and Bear,Stearns& Co. Inc. (the"Underwriter"); (d) the Official Statement dated March 27,2003,relating to the Disuict's Revenue Certificates of Par`acipation, Series 2003A'and Taxable Series 2003B;and ` (e) the Continuing Disclosure Agreement dated April 3, 2003 by and between the Disty, a_nd BNY Westen Trust Conpany, as dissemination agent. Capitalized tears used herein and not defined shall have the meanings given to Such teri.s in the Purchase Contract. Dated: A pri13,2003 TRUCKER DONNER PUBLIC UrL.I i f DISTRICT B �i� Its: Secretary of the Board of Directors The undersigned President offne Board of Directors of the Truckee Donner Public Utility District hereby cer&fies that the above signature is t_he true and correct signature of the Secretary bf the Board of Directors of the Truckee Donne,Public Utility Distuict. Zaident of the Board of Di ectors of the-Vckee nner Public Utility District 2 DOCSSF'363oovl':-iq 5.0006 Attachment 1A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis June 4, 2014 General Manager Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company,N.A. 400 South Hope St., Suite 400 Los Angeles, CA 90071 RE: Truckee Donner PUD COP Series 2003-A & 2003-B Dear Ms. Cronin: Attached is a copy of the CORPORATION INCUMBENCY AND SIGNATURE CERTIFICATE which was executed on Apri13, 2003.The current board members serve terms as follows: Tony Laliotis President,Board of Directors Term expires in December, 2014 Bob Ellis Vice President Term expires in December, 2016 Jeff Bender Director Term expires in December, 2016 J. Ron Hemig Director Term expires in December, 2014 Joseph R. Aguera Director Term expires in December, 2016 Michael D:Holley District Clerk & Secretary Employed as the General Manager Barbara Cahill Deputy District Clerk Employed as the Executive Secretary Robert Mescher District Treasurer Employed as the Administrative Services Mgr Tricia Phillips Assistant District Treasurer Employed as the Sr. Accountant& Analyst The Board holds annual elections for officers. If you have any further questions or need any additional information, please do not hesitate to contact me. Regards, o Robert Mescher Administrative Services Manager 11570 Donner Pass Road,Truckee,CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 1A $26,26 ,000 TRUCIOZE DOWER PUBLIC UTMITY DISTRICT REVENUE CERTIFICATES OF PARTICIPATION,SERFS 2003 aA' N16,930,0d0 59,335:400 Series 2003A Taxable Series'003E ♦yj`�•'` CORPORATION ENCUMBENCY, SIGNATURE AND SECRETARY CATE i7S p'' The undersigned hereby states and certifies that: �t 1. I am the duly appointed, qualified and acting Secretary of the Truckee Donner Public Utility District Financing Corporation,a nonprofit public benefit corporation duly organizzed and existing under the laws of the State of California(the"Corporation"),and,as such,I am-familiar with the facts herein certified and am authorized to certify the same. 2. The following are now,and have coal :auously been since July 1,2002,the duly elected, qualified and acting directors of the Corporation: Date o4 Ending of Name Curren?Term Nelson Van Gundy, Presxden+: 6/30/03 James A.Mess,Vice President 6130103 Joseph P,r Aguera,Secretary 6/30/03 Pat-icia S.Sutton,Director 6/30103 Ron He;nig, Director 6/30/03 3. The signature set forth opposite the name of the follo�bg perroris are �e and correct specimens of their genuine signattures: Sam_-_ i atu-z V41,t COIJ Nelson Van G+�dY President 616�Joseph R. Aguera Secretary DOCSSFU36300v 1=119TS.0006 Attachment 1A r „ 4. The following documents all bear the manual signaturc of the President and/or . ccretary Warned herein: ? (a) the Installment Purchase Agreement dated as of March 1,2003,by and between the Truckee Donner Public Utility District(the"District")and the Corporation; (b) the Trust Agreement dated as of March 1,2003,by and among the District, the Corporation and BNY Western Trust Company,as trustee(the"Trustee'); r (a) the Assignment Agreement dated as of March 1, 2003,by and between the Corporation and the Trustee;and 5. Attached hereto are true,complete and correct copies of(a)the Articles of incorporation of the Corporation and(b)the By-laws of the Corporationi,which said Articles and By-taws are is fill force and effect as of the date hereof: Da;ed: April 3,2003 TRUCK—EE DONOR PUBLIC U M,ITY DIS t rC' �r VASTCING CORPOIRA 11ON Its: or et- r r The undersigned President of the mi kee Donner Public Utility District Financing Corporation hereby certifies that the above signa-turz.a is the Sze and correct si,I amre of the Secretary of the 71 Doer Public Utility-Distnct Financing Corporation. r � � President of the Truckee Donner Public Utility LL District Financing Corporation DOCSS F136300v 11Z:92S,0006 Attachment 1A TRUCKEE DONNER PUBLIC UTILITY DISTRICT REFUNDING CERTIFICATES OF PARTICIPATION SERIERS 2003A AND 2003B ANNUAL REPORT 12/31/2013 TRUCKEE DONNER PUBLIC UTILITY DISTRICT History of Electric Service Charges January January January January January 2009 2010 2011 2012 2013 Domestic Electric Rates: no change no change no change no change Permanent Residents Customer Charge:per month $6.76 $6.76 $6.76 $6.76 $6.76 Energy Charge per kilowatt-hour $0.13200 $0.13200 $0.13200 $0.13200 $0.13200 Domestic Electric Rates: Non-Permanent Residents Customer Charge:per month $6.76 $6.76 $6.76 $6.76 $6.76 Energy Charge per kilowatt-hour $0.15100 $0.15100 $0.15100 $0.15100 $0.15100 Small Commercial Rates: Commercial Customers with monthly demand less than 50 kilowatts Customer Charge:per month $13.10 $13.10 $13.10 $13.10 $13.10 Energy Charge per kilowatt-hour $0.15900 $0.15900 $0.15900 $0.15900 $0.15900 Medium Commercial Rates: Commercial Customers with monthly demand greater than 50kW and less than 200kW Customer Charge:per month $130.81 $130.81 $130.81 $130.81 $130.81 Energy Charge per kilowatt-hour $0.09400 $0.09400 $0.09400 $0.09400 $0.09400 Demand Charge per kilowatt of demand $12.86 $12.86 $12.86 $12.86 $12.86 Large Commercial Rates: Commercial Customers with monthly demand greater than 200kW D Customer Charge:per month $573.78 $573.78 $573.78 $573.78 $573.78 rt Energy Charge per kilowatt-hour $0.09700 $0.09700 $0.09700 $0.09700 $0.09700 0 Demand Charge per kilowatt of demand $12.29 $12.29 $12.29 $12.29 $12.29 =r 3 rn D TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Connection Charges and Facilities Fees For 200 amp Service as of April 7,2008 Unchanged as of June 4,2014 Connection Facilities Size and Type of Service Charge Fees Three Wire Overhead -Temporary Actual Cost -Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 Three Wire Underground(overhead transformer) -Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 Three Wire Underground(padmount transformer) -Permanent connection to structure $1,248 $1,298 -Temporary connection to pole and transfer to structure $1,534 D 0 3 CD .-t D TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Customers,Sales,Revenues and Demand 2009 2010 2011 2012 2013 Number of Customers: Residential 11,621 11,643 11,682 11,719 11,787 Commercial and Other 1,533 1,502 1,503 1,500 1,496 Total Customers 13,154 13,145 13,185 13,219 13,283 Kilowatt-Hour(kWh)Sales: Residential 75,927,237 78,191,410 80,536,130 77,161,969 77,989,624 Commercial and Other 70,948,129 69,455,296 69,442,089 68,852,489 69,399,611 Total kWh Sales 146.875,366 147,646,706 149,978,219 146,014,478 147,389,235 Revenues from Sale of Energy: Residential $11,644,885 $12,008,819 $12,334,994 $11,869,192 $12,001,085 Commercial and Other 10,511,007 10,358,876 10,309,276 10,227,167 10,284,196 Total Revenues from Sale of Energy $22,155,892 $22,367,696 $22,644,270 $22,096,359 $22,285,282 Peak Demand(MW) 35.9 37.9 32.8 36.9 34.3 D v n cu D TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System Largest Electric Customers-2013 12 Months Customer Type of Business KWh Sold Electrical Billings District Water Department(1)(2) Water Utility 8,694,215 1,243,622 Tahoe Truckee Sanitation Agency(2) Sewer Plant 7,897,415 942,506 Tahoe Forest Hospital(2) Hospital 6,912,876 899,298 Tahoe Truckee Unified School District(2) Education 2,476,310 375,970 Safeway Stores Private I Commercial 1,939,500 242,796 (1) Represents pumping charges incurred by District water system (2) Denotes customers with multiple meters and service locations. The kWh sold and electrical billings are a sum of all customer's meter locations D .-a n 3 CD D TRUCKEE DONNER PUBLIC UTILITY DISTRICT Electric System-Summery of Historical Net Revenues and Selected Balance Sheet Information 2008 2009 2010 2011 2012 2013 Revenues (1) Sales to Customers $20.104,157 S20,552,874 $20,922,276 S21.106,358 $20,589.369 S20,939,839 intard visional Sates t2) 1,500,671 1,478,459 1.364,439 1,213,270 1,267.050 1,238.683 Standby Charges 20,860 26.990 25.470 25,480 25.490 25.140 Facilities Fees(3) 287,370 110,459 43.518 151,102 144.313 121,200 Other f4) 1.225,541 1.?01,106 1,308,557 1,479,926 1,478,379 2,009,712 Income from investments 358.637 71,971 36,102 35,405 27.706 9,383 Total Revenues $23,497.236 S23,441.859 S23,700,363 S24,011,541 S23,532,307 S24,343,957 Rate Stabilization Fund Transfer(s} 0 0 0 0 0 0 Total Adjusted Revenues $23,497,236 S23,441,859 S23,700,363 $24,011.541 $23,532,307 $24,343.957 Operations and Maintenance Costs(6) Power Purchases $10,627.405 S10,087,650 S10,645,658 S11,342,992 $10,571.359 S12,306,311 Operations and Maintenance 3,260,176 3.477,688 3,347,960 3,330,131 3.416.797 3,628.748 Administrative and General 2,626,971 2.781,746 2,414,567 2.120,740 2.200,410 2.339.169 Consumer Services M 1,256241 1.243,074 1,445,779 1.959,336 1,822,042 1,832.407 Interest Expense(a) 24,338 22.150 16.764 13,020 9.827 5.590 Total Operation and Maintenance Costs $17,795,132 $17,612,308 $17,870,728 S1B,766,219 Si8,020.436 $20.112,225 Adjusted Net Revenues/Funds Available for Debt Service S5,702,103 S5.829,552 S5,829,635 $5,245,322 S5,511.871 S4.231.732 Debt Service(9) 3,418,650 3,415,413 3.408,381 3,392,238 3,38B,300 3,285,000 Debt Service Coverage liol 1.67 1,71 1.71 1.55 1.63 129 Selected Balance Sheet Information Fund Balances(December 31): General Fund $6,374,547 $7.362,194 $7.762,447 S7,577,115 S10.069.874 S11.519,067 Rate Stabilization Fund Balance 1.550.631 1.935.322 2.306.459 2.384,004 2.665.059 3.132.396 Total Fund Balances S7,925,178 S9,297.516 S10,068.906 S9,961,199 $12 734,933 S14,651,462 Net Plant in Service $33,444,016 $35,300.034 S35,443,322 $35.662.081 S38,292,312 Construction Work in Progress 3.309.758 3,360.837 4.640,458 5,473,764 3,141.752 3,441,390 Net Electric Utility Plant S36,753,774 $38,660,871 $40,OB3,780 S41,035,844 $41,434.065 $3,441,390 0) Excludes Connection Charges. See'Rates and Charges'above. (2) Represents pumping charges to District water system and interdepartmental rent charged to the water department for use of the District Administrative Building which was financed by the Electric System. (3) Facilities Fees are charged to applicants for new service to cover the costs of infrastructure needed to meet the additional system demand. See'Rates and Charges'above. D (4) Represents service transfer charges, late payment fees,building room rentals.WAPPA credit and miscellaneous receipts. (5) The Rate Stabilization Fund is used to mitigate rate increases. Pursuant to the Installment Purchase Agreement.Adjusted Revenues for 0) coverage purposes include the amounts the District has aulhorized to be deposited in the Revenue Fund from the Rate Stabilization Fund =r pay Operation and Maintenance Costs and/or Debt Service. See'SECURITY AND SOURCES OF PAYMENT FOR THE 2003 3 CERTIFICATES--Defined Terms'and'—Rate Covenent'herein. CD (6) Excludes depreciation and amortization. (7) Includes all customer service, bil ing activity and customer information expenses. _a (8) Excludes interest on the 2003A/B Certificates which are shown in the debt service below. D (9) Represents Debt Service on the District's 2003 A/B Electric Certificates of Participation for the Purchased Power Contract buy-out with IDACORP Energy LP. (10) Adjusted Net Revenues divided by Debt Service. Attachment 1A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender i! Bob Ellis J. Ron Hemig INCUMBENCY CERTIFICATE Tony l.allotis General Manager Michael D. Holley The undersigned, Robert Mescher, being the District Treasurer, of Truckee Donner Public Utility District Financing Corporation does hereby certify that the individuals listed below are qualified and acting officers of the Company as set forth below opposite their respective names and the signatures appearing below opposite the name of each officer is a true specimen of the genuine signature of sucl, officer and such individuals have the authority to provide written direction/confirmation and execute documents to be delivered to, or upon the request of The Bank of New York Mellon Trust Company, N.A. Name Title Signature Phone Number Tony Laliotis President,Board of Directors 530-587-3896 of the TDPUD Michael Holley General Manger and District30-587-3916 Clerk of the TDPUD Robert Mescher Administrative Services Manageras.a_ 530-587-3946 and Treasurer of the TDPUD In WITNESS WHEREOF, the undersigned has duly executed and delivered this certificate as of June 5,2014. p n Signature Name: Barbara Cahill Title: Deputy District Clerk of the Truckee Donner Public Utility District 11570 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 2 TRUCKEE DONNER PUBLIC UTILITY DISTRICT CERTIFICATES OF PARTICIPATION (WATER SYSTEM IMPROVEMENT PROJECTS) SERIES 2006 ANNUAL REPORT 12/31/2013 Attachment 2 CONTINUING DISCLOSURE CERTIFICATE: 4. Content of Annual Reports (a)The audited financial statements were electronically forwarded to Bank of New York on 06/5/2014. (b)The principal amount of the Certificates outstanding was$21,025,000 as of December 31,2013. (e)The balance in the Reserve Fund as of December 31, 2013 was $1,913,242. The Reserve Requirement from the Installment Purchase Agreement is: "The term "Reserve Requirement" means initially,$1,901,088.76, and thereafter the lesser of(i)$1,901,088.76 or(ii) the maximum principal of and interest with respect to the Certificates due in the then current or any future Fiscal Year." The maximum payment due in any year is$1,901,088.76. (d) Updated tables from "THE WATER SYSTEM OF THE DISTRICT" IN THE Official Statement are attached: (i) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Historic Water Production and Accounts" on page 19 of the Official Statement. (ii) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Historic Sales Revenue" on page 19 of the Official Statement. (iii) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT - Largest Customers" on page 20 of the Official Statement. (iv) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Historic Operating Results of Debt Service Coverage" on page 26 of the Official Statement. Attachment 2 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Historic Water Production and Accounts Total Production (Million %Increase/ Conrinercial %Increase/ Residential %Increase/ Year Gallons) (Decrease) Accounts (Decrease) Accounts (Decrease) 2001 1,736 481 8,130 2002 2,198 26.61% 548 13.93% 10,268 26.30% 2003 2,208 0.45% 563 2.74% 10,491 2.17% 2004 2,424 9.78% 582 3.37% 10,739 2.36% 2005 2,206 -8.99% 605 3.95% 11,146 3.79% 2006 2,371 7.48% 646 6.78% 11,436 2.60% 2007 2,433 2.61% 641 -0.77% 11,801 3.19% 2008 2,304 -5.30% 656 2.34% 11,843 0.36% 2009 2,056 -10.76% 670 2.13% 11,900 0.48% 2010 1,786 -13,13% 695 3.73% 11,876 -0.20% 2011 1,727 -3.31% 709 2.01%a 11,711 -1.39% 2012 1,857 7.53% 706 -0.42% 11,753 0.36% 2013 1,846 -0.58% 706 0.00% 11,809 0.48% Attachment 2 TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Historic Water Sales Revenues %Increase/ %Increase/ Year Residential (Decrease) Commercial (Decrease) 2001 $3,944,222 $476,195 2002 5,013,242 27.10% 647,822 36.04% 2003 5,768,092 15.06% 678,423 4.72% 2004 6,254,756 8.44% 825,109 21.62% 2005 6,609,311 5.67% 844,812 2.39% 2006 7,160,485 8.34% 991,941 17.42% 2007 7,875,829 9.99% 1,165,511 17.50% 2008 8,459,823 7.42% 1,179,157 1.17% 2009 8,577,396 1.39% 1,137,447 -3.54% 2010 8,973,220 4.61% 1,184,084 4.10% 2011 8,731,670 -2.69% 1,227,533 3.67% 2012 8,492,037 -2.74% 1,374,376 11.96% 2013 8,508,607 0.20% 1,338,298 -2.63% Attachment 2 TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Largest Water Customers-Fiscal Year 2013 Custon►er Ivater Usage t►' Annual Payments TAHOE MOUNTAIN CLUB 157,221,981 $137,142 COYOTE MOON GOLF COURSE 71,769,960 49,304 TAHOE DONNER ASSOCIATION 36,053,718 104,997 TRUCKEE DONNER RECREATION AND PARK DISTRICT 31,587,466 61,308 TAHOE TRUCKEE UNIFIED SCHOOL DISTRICT 20,209,368 43,500 VILLAGE GREEN MOBILEHOME PARK 18,847,081 34,747 TAHOE FOREST HOSPITAL 14,226,656 41,412 BOB GALES(COACHLAND) 14,041,000 26,142 DONNER CREEK MOBILE HOME PARK 11,947,150 19,174 TOWN OF TRUCKEE 7,894,655 26,189 TOP TEN TOTAL 383,799,035 $543,916 TOTAL SYSTEM 1,846,162,337 $9,870,531.17 20.79% 5.51% �"Gallons Attachment 2 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Historic Water Operating Results & Debt Service Coverage Fiscal Year Ending December 31 Revenues 2009 2010 2011 2012 2013 Sales to Customers $9,748,317 $10.196,010 $9,946,771 $9,793,994 $9,870.531 Standby Fces 171,200 161,120 161,040 166.135 157,440 Investment Income ttl 85,231 97.359 18,363 33.783 10,506 Facilites Fees (21 283,408 160.410 152,918 207,678 264,199 Connection Fees 143.453 84,366 136,306 68,996 90.856 Meter Surcharge 799,434 753,642 746,759 741,209 703,982 Other 14) 654,790 457.041 375,935 126,847 328.553 Total Revenues $11,885,834 $11,909.948 $11,538.092 $11,338.641 $11,426.067 Operating & Maintenance Expenses Operations and Maintenance $4,483,118 $4,391.401 $4,433,706 $4,806,563 $4,802,929 Administration and General 1,706,210 1,749,277 1,657.418 1,761.614 1.829,741 Customer Services 487,419 598,853 794.225 721,334 730.605 Total Operations & Maintenance Expenses $6.676.747 $6,729,531 $6.885,350 $7.289.510 $7,363,275 Net Revenues $5.209,087 $5,180,417 $4,652.743 $4,049,131 $4.062.792 Parity Debt Service 0) 2006Installment Purchase Agreement $1,896,289 $1,895.289 $1,888,089 $1,894,889 $1.895.089 DWR Proposition 55 Loan $306,481 $306,481 $306,481 $306,481 $306,481 Interest on Parity Debt Service Reserve Funds (70,714) (84,802) (64.196) (8,103) (6,130) Total Parity Debt Service $2,132,056 $2,116,968 $2,130,374 $2.193,266 $2,195.440 Parity Debt Service Coverage 2.44 2,45 2.18 1.85 1.85 Net Revenues Remaining for Subordinate Debt $3,077,031 $3,063,449 $2,522,369 $1,855,865 $1.867,352 Service Subordinate Debt Service $355,737 $338,344 $316,94 4 $316,944 $316,944 Parity and Subordinate Debt Service Coverage 471 2109 111 1.90 1.61 1.62 Balance Available for Capital Projects or Other $2,721.294 $2,725,106 $2,205,425 $1,538,921 $1,550,408 Purposes NOTES (1) Excludes interest component of Donner Lake Assessment and interest on parity debt service reserve funds. (2) Appears as contributed capital in the Financial Statement of the District. (3) Historically, connection fees were recognized in the year in which the connection to the Water System was effected rather than the year in which the connection fee was allocated. (4) Includes interdepartmental sales. (5) Debt service presented on an accrual basis. (6) Represents payments on Capital Leases, The DWR Loan. which is secured by , and has historically been paid entirely from, the Donner Lake Assessments, is excluded form subordinate debt service. (7) Subordinate Debt Service, Parity and Subordinate Debt Service Coverage, and Balance Available for Capital Projects have been amended for 2006. Attachment 2A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis June 4, 2014 General Manager Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company,N.A. 400 South Hope St., Suite 400 Los Angeles, CA 90071 RE: Truckee Donner Public Utility District Refunding Certificates of Participation Series (Water System Improvement Projects) Series 2006 Dear Ms. Cronin: Pursuant to the requirements of Section 4 of the Continuing Disclosure Certificate for the above financing, I am including the Certificate of Authorized Officers, the District Incumbency and Signature Certificate and the Corporation Incumbency and Signature Certificate. In lieu of sending you 5 copies of the District's annual audit by Moss Adams, I sent you an electronic copy of the audit. I believe sending you this information completes the 2013 requirements of Section 4 of the Continuing Disclosure Agreement between the District and Bank of New York Mellon Trust Company. I previously sent you an electronic version of the District's 2014 budget. PIease let me know if there is any other information that is required. It is my understanding that you will be providing me with a report certifying that the Annual Report has been provided pursuant to the Disclosure Agreement stating the date it was provided and listing all the Repositories to which it was provided. Regards, Robert Mescher Administrative Services Manager 11670 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 630-587-5056 - www.tdpud.org Attachment 2A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Sender Bob Ellis J. Ron Hemig Tony Laliotis General Manager Michael D. Holley CERTIFICATE OF AUTHORIZED OFFICERS Name of Issue: Truckee Donner Public Utility District Certificates of Participation (Water System improvement Projects)Series 2006 Date: June 4, 2014 To: Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St., Suite 400 Los Angeles, CA 90071 I, the undersigned Treasurer of the Truckee Donner Public Utility District hereby certify that, those officers named upon the face of this certificate have been duly authorized, and are now acting and are qualified to sign written instruction, consents, certificates or other securities, etc., on behalf of this district, and that the specimen signatures appearing opposite the names and titles are the genuine signatures of such officers and that said agreement electing/authorizing these officers are now in full force and effect. You are further authorized to recognize these signatures until you receive revised written instructions to the contrary. Tony Laliotis President, Board of Directors `7 Michael D. Holley Clerk of the Board Certified by: Robert Mescher, District Treasurer 11570 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 2A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender Bob Ellis J. Ron Hemig Tony Laliotis June 4, 2014 General Manager Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St., Suite 400 Los Angeles,CA 90071 RE: Truckee Donner PUD COP(Water System Improvement Projects)Series 2006 Dear Ms. Cronin: Attached is a copy of the DISTRICT INCUMBENCY AND SIGNATURE CERTIFICATE which was executed on October 12, 2006.The current board members serve terms as follows: Tony Laliotis President, Board of Directors Term expires in December,2014 Bob Ellis Vice President Term expires in December,2016 Jeff Bender Director Term expires in December,2016 J. Ron Hemig Director Term expires in December,2014 Joseph R. Aguera Director Term expires in December, 2016 Michael D. Holley District Clerk& Secretary Employed as the General Manager Barbara Cahill Deputy District Clerk Employed as the Executive Secretary Robert Mescher District Treasurer Employed as the Administrative Services Mgr Tricia Phillips Assistant District Treasurer Employed as the Sr. Accountant& Analyst The Board holds annual elections for officers. If you have any further questions or need any additional information, please do not hesitate to contact me. Regards, Robert Mescher Administrative Services Manager 11570 Danner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 2A $26,570,000 TRUCEEE DONINTER PUBLIC UTILITY DISTRICT REFUNDING REVENUE CERTIFICATES OF PARTICIPATION (WATER SYSTEM W-PROVEMENT PROJECTS)SERIES 2006 DISTRICT INCUMBENCY,SIGNATURE AND CLERK.CERTIFICATE r The undersigned hereby states and cei dfles that: I, I ant the duly appointed, qualified and acting Clerk of the Board of Directors of the Truckee Donrier'Public Utility District; a public utility district duly o,anizdd and existing under the laws of the State of California (the "District"); and, as such,i am fainiliar with the facts herein. certified and am authorized to certify the same. 2'. he folfowfhe are not,, and-h�we continuously been.since the dates of beginning or their res-dectnre cunt term's.of_ofrice,shown Below;the d 3 eIeeted:giaalifieii and"acting.rmeinbers; of the-Board bf Directors of the Disrict;and tfie dake 6f the b6g*m"nin17 wd ending of iheir respective current terms of office are hereunder cormctly designated opposite their names: Date of DaLA-of Beginning of Ending of Name Current Ter m Current Tam J.Ron-INemig, President December-2002 December 2006 Tian Taylor, Vice Presidents December 2004 December, 2008 Jbseph R,Aggera.Director_. Decembe_ . L _ 2Qp4.. , Deceemmbbeerr.220 Qf0l P� redtoi« Dece�lir20�2 Wlli.-ft'L. Thofasan, x Director Dece,�er'2004 ` r Dedember 2009 3. the. sign�-res set forth opposites the names. and titles of tiles fo?For,ring persons are, truz.3rrd correct:specimens.of ft-ir Qenhine sip atuies;. Name, . T'i};a J.Ron Hemig President of the Board bf, ` Diiecton Pete;L.Holzmeister Clerk of the Board of I Dit actors and General Manager a The following documents all bee; the manual signature of the President of the Board of Directors and/or the Clerk of the Board of Directors or the General Manager named herein: (a) _ the Ins jlment Pizchase Agreement dated as of September 1, 2006, by and between the Truckee Donner Public Utility District Financing Corporation (the "Corporation") and the District; D0CSSF/60659 v¢/=97a-0017 Attachment 2A y•, (i?) the Trust Agreement dated as of September 1, 2006, by ,and among the District, the Corporation and The Bank of New York Trust Company, N.A., as trustee (the "Trustee"); (c) the Purchase Contract dated October 5, 2006,by and between the District arid Stone&Youngberg LLC (the "Underwrite?,),-and-acknowledged by the Corporation; (d) the Official Statement dated October 5, 2006, relating to the District's Refunding Revenue Certificates of Par`acipation, Series 2006A;and i (e) the Continuing Disclosure Certificate dated October 12,2006; and W the Escrow Agreement, dated as of September 1, 2006,, by and between the District and The Batik of New York Trust Company,N.A.,as escrow agent. 5• Attached hereto are copies of the following documents: (i) DWR Proposition 55 Loan, dated August ,13, 1992, (ii) DWR Loan, dated 3une 28, 2004, (iii) the 1996 Installment Purchase Agreement; dated November 1, 1996,relating to the Truckee Donner Public Utility District Refunding Certificates of Participation (Water System Improvement Project), Series 1996, and (iv)the 1996 Trust Agreement, dated November 1, 1996, relatinatito the Truckee Donner Public Utility District Refunding Certificates of Participation (Water System Improvement Project) Series I996. Capitalized terms used herein and not defined shall have the meanings'given to such terms in the Purchase Co-=wt. Dated: October 12, 2006 T RUCKEE DONNER PUBLIC U T II.rs Y D;SMCT By: Its: Clerk of the Board 6f Directors 1 The undersigned President of the Board of Directors of the Truckee Donne; Public Utility District hereby certifies that the above sip, is the true and correct signature-of the Secretary Of , the Board of Directors of the Truckee Donner Public Utility District. Pr4ideK—� f the Board of Directors of the ruckee Dblic.Utility District ; DOCSSF/60659v4J022925-0017 2 Attachment 2A Truckee Donner Public Utility District Board of Directors Joseph R.Aguera Jeff Bender 16 Bob Ellis J. Ron Hornig Tony Laliotis June 4,2014 General Manager Michael D. Holley Patricia Cronin The Bank of New York Mellon Trust Company, N.A. 400 South Hope St., Suite 400 Los Angeles,CA 90071 RE: Truckee Donner PUD COP(Water System Improvement Projects) Series 2006 Dear Ms. Cronin: Attached is a copy of the CORPORATION INCUMBENCY AND SIGNATURE CERTIFICATE which was executed on October I2, 2006. The current board members serve terms as follows: Tony Laliotis President, Board of Directors Term expires in December,2014 Bob Ellis Vice President Term expires in December,2016 Jeff Bender Director Term expires in December, 2016 J. Ron Hemig Director Term expires in December, 2014 Joseph R. Aguera Director Term expires in December, 2016 Michael D. Holley District Clerk & Secretary Employed as the General Manager Barbara Cahill Deputy District Clerk Employed as the Executive Secretary Robert Mescher District Treasurer Employed as the Administrative Services Mgr Tricia Phillips Assistant District Treasurer Employed as the Sr. Accountant& Analyst The Board holds annual elections for officers. If you have any further questions or need any additional information, please do not hesitate to contact me. Regards, Robert Mescher Administrative Services Manager 11570 Donner Pass Road,Truckee, CA 96161 - Phone 530-587-3896 - Fax 530-587-5056 - www.tdpud.org Attachment 2A ,r $26,570,000 ' TRUCKEE DONNER PUBLIC UTILITY DISTRICT REFUNDING REVENUE CERTIFICATES OF PARTICIPATION (WATER SYSTEM IMPROVEMENT PROJECTS)SERIES 2006 T CORPORATION INCUMBENCY,SIGNATURE AND SECRETARY CERTTFICA T R The undersigned hereby states and certifies that: 1. I am the duly appointed,.qualified and acting Secretary of the Truckee Donner Public Utility District Financing-Corporation* a nonprofit public benefit corporation duly organized and existing under the laws of the State of California(the"Copt.oration"), and, as such,I am familiar with the facts herein certified and am authorized to certify the sane. 2 The following are now, and have continuously been since June 30, 2006, the duly elected,qualified and actin;directors of the Corporation: Date of Ending of Name Current !erm J.Ron Hernia, President June 30, 2007 Joseph R.Agues, Vice President June 30,2007 Tim,Taylor,Directs June 30,2007 Pat-icia S. Sutton, Director June 30,2007 Willia--ii L.Thompson ,Director June 30,2007 3. The signature set forth opposi`e the name of the following persons are erne and i. correct specimens of their genuine signatures: Name Title Signature , J.Ron Hernig President of the Board d '7J1 t of Directors Mary Chapman Secret aryrreasurer �. nnrsb'fl'n . 4. The following documents all bear the manual signature of the President and .Secretary/TTeasurer na,Ted herein: (a) the Installment Phase Agreement dated as of September 1, 2006, by and between the Truckee Donner Public Utility District(the "District") and the Cana oration; N DOCSSF/60659v4/022925-0017 Attachment 2A ?,3 (b) the Trust Agreement dated as of September 1, 2006, by and among the District; the Corporation and The Bank of New York Trust Company,N.A., as trustee; (c) the Assignment Agreement dated as of September 1, 2006, by and between the Corporation and the Trustee; and (d) the Purchase Contract dated October 5, 2006, by and between the District and Stone&Youngberg LLC, and acknowledged by the Corporation. 5. Attached hereto are true, complete and correct copies of (a) the Articles of Incorporation of the Corporation and (b) the By laws of the Corporation, which said Articles and 3y Iaws are in full force and effect as of the date hereof. Dated: October 12, 2006 TRUCKEE DOINTINER PUBLIC UTILITY DISTRICT FINANCR G COP.POIR,.4TION s By:Its: Secretary Secretary (T () The undersigned President of the Truckee Donner Public Utility District Financing Corporation hereby certifies that the above signature is the true and correct signature of the Secretary of the Truckee Donner Public Utility District Financing Coroo!ation. PreY�i Ptt}}cif the Truckee Donner Public Utilityistrict Fining Corporation f D0CSSF/Go659v4jo?2g25-0o t 7 Attachment 2A TRUCKEE DONNER PUBLIC UTILITY DISTRICT CERTIFICATES OF PARTICIPATION (WATER SYSTEM IMPROVEMENT PROJECTS) SERIES 2006 ANNUAL REPORT 12/31/2013 Attachment 2A CONTINUING DISCLOSURE CERTIFICATE: 4. Content of Annual Reports (a)The audited financial statements were electronically forwarded to Bank of New York on 06/5/2014. (b)The principal amount of the Certificates outstanding was $21,025,000 as of December 31,2013. (c)The balance in the Reserve Fund as of December 31, 2013 was $1,913,242. The Reserve Requirement from the Installment Purchase Agreement is: "The term "Reserve Requirement" means initially,$1,901,088.76, and thereafter the lesser of(i)$1,901,088.76 or(ii) the maximum principal of and interest with respect to the Certificates due in the then current or any future Fiscal Year." The maximum payment due in any year is$1,901,088.76. (d) Updated tables from "THE WATER SYSTEM OF THE DISTRICT" IN THE Official Statement are attached: (i) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT - Historic Water Production and Accounts" on page 19 of the Official Statement. (il) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Historic Sales Revenue" on page 19 of the Official Statement. (iii) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Largest Customers" on page 20 of the Official Statement. (iv) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT- Historic Operating Results of Debt Service Coverage" on page 26 of the Official Statement. ` Attachment 2A TRUCKEE DONNER PUBLIC UTILITY DISTRICT Historic Water Production and Accounts Total Production (Million %Increase/ Connnercial %Increase/ Residential %Increase/ Year Gallonns) (Decrease) Accounts (Decrease) Accounts (Decrease) 2001 1,736 481 8,130 2002 2,198 26.61% 548 13.93%d 10,268 26.30% 2003 2,208 0.45% 563 2.74% 10,491 2.17% 2004 2,424 9.78% 582 3.37% 10,739 2.36% 2005 2,206 -8.99% 605 3.95% 11,146 3.79% 2006 2,371 7.48% 646 6.78% 11,436 2.60% 2007 2,433 2.61% 641 -0.77% 11,801 3.19% 2008 2,304 -5.30% 656 2.34% 11,843 0.36% 2009 2,056 -10.76% 670 2.13% 11,900 0.48% 2010 1,786 -13.13% 695 3.73% 11,876 -0.20% 2011 1,727 -3.31% 709 2.01% 11,711 -1.39% 2012 1,857 7.53% 706 -0.42% 11,753 0.36% 2013 1,846 -0.58% 706 0.00% 11,809 0.48% Attachment 2A TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Historic Water Sales Revenues %Increase/ %Increase/ Year Residential (Decrease) Commercial (Decrease) 2001 $3,944,222 $476,195 2002 5,013,242 27.10% 647,822 36.04% 2003 5,768,092 15.06% 678,423 4.72% 2004 6,254,756 8.44% 825,109 21.62% 2005 6,609,311 5.67% 844,812 2.39% 2006 7,160,485 8.34% 991,941 17.42% 2007 7,875,829 9.99% 1,165,511 17.50% 2008 8,459,823 7.42% 1,179,157 1.17% 2009 8,577,396 1.39% 1,137,447 -3.54% 2010 8,973,220 4.61%v 1,184,084 4.I0%a 2011 8,731,670 -2.69% 1,227,533 3.67% 2012 8,492,037 -2.74% 1,374,376 11.96% 2013 8,508,607 0.20% 1,338,298 -2.63% Attachment 2A TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Historic Water Sales Revenues %Increase/ %Increase/ Year Residential (Decrease) Connnjercial (Decrease) 2001 $3,944,222 $476,195 2002 5,013,242 27.10% 647,822 36.04% 2003 5,768,092 15.06% 678,423 4.72% 2004 6,254,756 8.44% 825,109 2 l.62% 2005 6,609,311 5.67% 844,812 2.39% 2006 7,160,485 8.34% 991,941 17.42% 2007 7,875,829 9.99% 1,165,511 17.50% 2008 8,459,823 7.42% 1,179,l57 1.17% 2009 8,577,396 1.39% 1,137,447 -3.54% 2010 8,973,220 4.61% 1,184,084 4.l 0% 2011 8,731,670 -2.69% 1,227,533 3.67% 2012 8,492,037 -2.74% 1,374,376 11.96% 2013 8,508,607 0.20% 1,338,298 -2.63% Attachment 2A TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Largest Water Customers-Fiscal Year 2013 Customer Ivater Usage t t r Annual Pa}rents TAHOE MOUNTAIN CLUB 157,221,981 $137,142 COYOTE MOON GOLF COURSE 71,769,960 49,304 TAHOE DONNER ASSOCIATION 36,053,718 104,997 TRUCKEE DONNER RECREATION AND PARK DISTRICT 31,587,466 61,308 TAHOE TRUCKEE UNIFIED SCHOOL DISTRICT 20,209,368 43,500 VILLAGE GREEN MOBILEHOME PARK 18,847,081 34,747 TAHOE FOREST HOSPITAL 14,226,656 41,412 BOB GALES(COACHLAND) 14,041,000 26,142 DONNER CREEK MOBILE HOME PARK 11,947,150 19,174 TOWN OF TRUCKEE 7,894,655 26,189 TOP TEN TOTAL 383,799,035 $543,916 TOTAL SYSTEM 1,846,162,337 $9,870,531.17 20.79% 5.51% tij Gallons Attachment 2A TRUCKER DONNER PUBLIC UTILITY DISTRICT Historic Water Operating Results & Debt Service Coverage Fiscal Year Ending December 31 Revenues 2009 2010 2011 2�12 2 Sales to Customers $9,748.317 $10.196,010 $9,946.771 $9,793,994 $9,870,531 Standby Fees 171,200 161,120 161,040 166,135 157.440 Investment Income ttl 85,231 97.359 18,363 33,783 10,506 Facilites Fees 42) 283,408 160,410 152,918 207,678 264.199 Connection Fees (210) 143,453 84,366 136,306 68,996 90.856 Meter Surcharge 799,434 753,642 746,759 741,209 703,982 Other(4) 654,790 457.041 375,935 326,847 328,553 Total Revenues $11,885.834 $l 1,909,948 $11.538.092 $11,338.641 $11.426.067 Operating & Maintenance Expenses Operations and Maintenance $4,483,118 $4,391.401 $4,433,706 $4,806,563 $4,802,929 Administration and General 1,706,210 1,749,277 1,657.418 1,761,614 1,829.741 Customer Services 487,419 588,853 91.225 721,334 730,605 Total Operations & Maintenance Expenses $6.676,747 $6,729,531 $6.885,350 $7,289.510 $7,363,275 Not Revenues $5.209,087 $5.180,417 $4,652.74.1 $4,049,131 $4.062,792 Parity Debt Service (5) 2000Installment Purchase Agreement $1.896 289 $1,895.289 $1,888.089 $1,894,889 $1.895,089 DWR Proposition 55 Loan $306.481 $306,481 $306,481 $306,481 $306,481 Interest on Parity Debt Service Reserve Funds 71 0,714) (84,802) (64.196) (l8,1.03) 6i6,1 Total Parity Debt Service $2.132,056 $2.116,968 $2,130,374 $2.193,266 $2,195,440 Parity Debt Service Coverage 2.44 2,45 2.18 1.85 L85 Net Revenues Remaining for Subordinate Debt $3,077,031 $3,063,449 $2,522,369 $1,855,865 $1.867,352 Service Subordinate Debt Service $355,737 $338,344 $316,944 $316,944 $316,944 Parity and Subordinate Debt Service Coverage (5) 2,09 2,11 1.90 1.61 1.62 Balance Available for Capital Projects or Other $2,721.294 $2.725.106 $2,205,425 $1,538,921 $1,550,408 Purposes NOTES (1) Excludes interest component of Donner Lake Assessment and interest on parity debt service reserve funds. (2) Appears as contributed capital in the Financial Statement of the District. (3) Historically, connection fees were recognized in the year in which the connection to the Water System was effected rather than the year in which the connection fee was allocated. (4) Includes interdepartmental sales. (5) Debt service presented on an accrual basis. (6) Represents payments on Capital Leases. The DWR Loan, which is secured by , and has historically been paid entirely from, the Donner Lake Assessments, is excluded form subordinate debt service. (7) Subordinate Debt Service, Parity and Subordinate Debt Service Coverage, and Balance Available for Capital Projects have been amended for 2006. Attachment 3 TRUCKEE DONNER PUBLIC UTILITY DISTRICT CONSOLIDATED FINANCIAL STATEMENTS Including Independent Auditors' Report December 31, 2013 and 2012 Attachment 3 WWW.MOSSADAMS.COM ,9i REPORT OF INDEPENDENT AUDITORS The Board of Directors Truckee Donner Public Utility District Report on Financial Statements We have audited the accompanying consolidated financial statements of Truckee Donner Public Utility District (the "District"), which comprise the consolidated statements of net position as of December 31, 2013 and 2012, and the related consolidated statements of revenues, expenses and changes in net position, and cash flows for the years then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Truckee Donner Public Utility District as of December 31, 2013 and 2012, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. 1 il ' A f FA!lIER .' G(OBAL AMAUCC W INGfMOOENi KW?A5 Attachment 3 TRUCKEE DONNER PUBLIC UTILITY DISTRICT CONSOLIDATED STATEMENTS OF NET POSITION December 31, 2013 and 2012 ASSETS 2012 2013 as restated CURRENT ASSETS Funds Operating $ 8,638,342 $ 8,895,390 Designated 12,495,410 11,281,344 Restricted 10,408,303 13,799,258 Total Funds 31,542,055 33,975,992 Accounts receivable, net 6,829,437 6,617,898 Unbilled revenues 2,411,028 2,365,653 Accrued interest receivable 100,618 105,387 Materials and supplies 553,015 531,416 Prepaid expenses 283,588 315,913 Other 65,648 53,556 Total Current Assets 41,785,389 43,965,815 NON-CURRENT ASSETS Other Non-Current Assets Restricted funds 1,890,358 2,095,966 Special assessments receivable 5,651,949 6,266,286 Amortized pension obligation 6,716,354 7,190,000 Other 622,318 684,549 Total Other Non-Current Assets 14,880,979 16,236,801 CAPITAL ASSETS Utility plant 163,479,382 161,258,142 Accumulated depreciation (50,015,511) (46,102,004) Construction work in progress 6,449,688 4,594,466 Total Utility Plant 119,913,559 119,750,604 TOTAL ASSETS $ 176,579,927 $ 179,953,220 The accompanying notes are an integral part of these consolidated financial statements. 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