The URL can be used to link to this page

Home My WebLink AboutRES 2016-01 - Board•:IRUCKEEDONNERIPublicUtilityDIstr[cJResolutionNo.2016-01RESOLUTIONOFTHEBOARDOFDIRECTORSOFTHETRUCKEEDONNERPUBLICUTILITYDISTRICTFINANCINGCORPORATIONAUTHORIZINGTHEEXECUTIONANDDELIVERYOFANINSTALLMENTSALEAGREEMENTWITHTRUCKEEDONNERPUBLICUTILITYDISTRICT,ANDAUTHORIZINGANDDIRECTINGCERTAINACTIONSINCONNECTIONTHEREWITHWHEREAS,theTruckeeDonnerPubflcUtilityDistrictFinancingCorporation(the“Corporation”)isanonprofitpublicbenefitcorporationorganizedandexistingunderthelawsoftheStateofCaliforniawiththeauthoritytoprovidefinancialassistancetotheTruckeeDonnerPublicUtilityDistrict(the“District”)byacquiring,constructingandfinancingvariouspublicfacilities,landandequipment,andleasingfacilities,landandequipmentfortheuse,benefitandenjoymentofthepublic;andWHEREAS,theDistrictandtheCorporationhavepreviouslyenteredintothatcertainInstallmentPurchaseAgreement,datedasofSeptember1,2006,assupplementedbythatcertainFirstSupplementalInstallmentPurchaseAgreement,datedasofAugust1,2015,byandbetweentheDistrictandtheCorporation(sosupplemented,the“2006InstallmentPurchaseAgreement”),forthepurposeoffinancingandrefinancingcertainequipmentandfacilitieswithintheDistrictthroughtheexecutionanddeliveryoftheRefundingRevenueCertificatesofParticipation(WaterSystemImprovementProjects)Series2006(the“2006Certificates”);andWHEREAS,inAugust2015,theDistrictissueditsWaterSystemRefundingRevenueBonds,Series2015toprovidefundstoprepayaportionofthethen-outstandinginstallmentpaymentsdueunderthe2006InstallmentPurchaseAgreementand,inturn,aportionofthethen-outstanding2006Certificates;andWHEREAS,theDistrictandtheCorporationnowdesiretoenterintoanInstallmentSaleAgreement(the“InstallmentSaleAgreement”)forthepurposeofprovidingfundstoprepaytheremainingoutstandinginstallmentpaymentsdueunderthe2006InstallmentPurchaseAgreementand,inturn,theremainingoutstanding2006Certificates;andWHEREAS,toobtainfundstoeffectuatesuchrefinancing,theCorporationwillassigncertainofitsrightsundertheInstallmentSaleAgreementtoJPMorganChaseBank,NA.(the“Purchaser”)inaccordancewiththetermsofthatcertainAssignmentAgreement(the“AssignmentAgreement”),datedasofOctober1,2016,byandbetweentheCorporationandthePurchaser;andWHEREAS,forthisfinancingtherehasbeenpresentedtotheCorporationtheformsoftheInstallmentSaleAgreementandAssignmentAgreementforapproval;and NOW,THEREFORE,theBoardofDirectorsofTruckeeDonnerPublicUtHityDistrictRnancingCorporationDOESHEREBYRESOLVE,DETERMINEANDORDERasfollows:SECTION1.Recitals.Theforegoingrecitalsaretrue,correctandasubstantivepartofthisResolution.SECTION2.ApprovalofDocuments.TheInstallmentSaleAgreement,inaprincipalamountnottoexceed$3,266,000,andtheAssignmentAgreement,eachinsubstantiallytheformonfilewiththeSecretary,areherebyapproved.ThePresidentorVice-PresidentoftheCorporationortheirwrittendesignees(the“AuthorizedOfficers”),actingalone,isherebyauthorizedanddirectedtoexecuteanddelivertheInstallmentSaleAgreementandtheAssignmentAgreement.Suchagreementsshallbeexecutedinsubstantiallytheformsherebyapproved,withsuchadditionstheretoandchangesthereinasmayberecommendedbyGeneralCounselorSpecialCounseltotheDistrictandasapprovedbytheofficersexecutingsuchagreements,suchapprovaltobeconclusivelyevidencedbytheexecutionanddeliverythereof.SECTION3.ProfessionalServices.TheBoardofDirectorsherebyappointsPorterSimon,ProfessionalCorporationasCorporationCounselinconnectionwiththeexecutionanddeliveryoftheInstallmentSaleAgreement.SECTION4.OtherActions.TheAuthorizedOfficersareherebyauthorizedanddirected,actingsingly,todoanyandallthingsandtoexecuteanddeliveranyandalldocumentswhichsuchofficersmaydeemnecessaryoradvisableinordertoconsummatetheexecutionanddeliveryoftheInstallmentSaleAgreementandAssignmentAgreementandotherwiseeffectuatethepurposesofthisResolution,andsuchactionspreviouslytakenbysuchofficersareherebyratifiedandconfirmed.SECTION5.EffectiveDate.ThisResolutionshalltakeeffectimmediately.PASSEDANDADOPTEDbytheBoardofDirectorsoftheTruckeeDonnerPublicUtilityDistrictFinancingCorporationinameetingdulycalledandheldwithinsaidDistrictonMay4,2016bythefollowingrollcallvote:AYES:Directors:Warmerdam,Laliotis,Ellis,andVicePresidentBender.NOES:None.ABSENT:PresidentAguera.TRUCKEEDONNERPUBLICUTILITYDISTRICTBy_____________________JeffBencIriresinATTEST:mtt’-__MichaelD.Holley,DistrictO1èTk