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Home My WebLink AboutLoan ResolutionUSDA-FmHA Fi rm FmHA 44247 (Rev. 4-9-7ti) Position 5 LOAN RESOLUTION (Public Bodies) TDPUD A RESOLUTION OF THE Board of Directors I 0F T||[: TRUCKEE DONNER PUBLIC UTILITY DISTRICT AUTHORIZING AND PROVIDING FOR THE INCURRENCE OF INDEBTEDNESS FOR THE PI RP0S1 0! PROVIDING A PORTION OF THE GUST OF ACQUIRING, CONSTRUCTING, ENLARGING. IMPROVING, AND/OR EXTENDING ITS "**§& pulping and disUJAutAon I ACUITY TO SERVE AN AREA LAWFULLY WITHIN ITS Jl'RIDICTION TO SERVE, WHEREAS, it is necessary for the .T.SWSfreg ,Bg.nnet;.lFvlblAg Utility..Platrict - _ - (lhiblir Body' (herein after called association) to raise a portion of the cost of such undertaking by issuance of its bonds in the principal imountof $321'500 (Three hundred twenty pne tflipu«W]Ml, flviB hvindrw^ ^mm) I , Section 16598 of the Public Utili.ty.-Cflda..oi-tlie..S.ta±je-a£..Cili£, rsuant to the provisions ol KHI Rl AS, the association Intends to obtain assistance from the Farmers Home Administration, United States Department • Agriculture, (herein called the Government) acting under the provisions of the Consolidated Farm and Rural Development Act (7 CSC. 14:1 el seq.) in the planning, financing, and supervision of such undertaking and to purchasing of bonds lawfufl) itsued, in the event thai no other acceptable purchaser for such bonds is found by the association: NOW Till REFORI . in consideration of the premises the association hereby resolves. i To 'JVC prepared on Its behalf and to adopt an ordinance or resolution for the issuance of its bonds and containing such items and in such forms as are required by STATE: statutes and as are agreeable and acceptable to the Government ro I finance the unpaid balance, in whole or in part, of its bond, upon the request of the Government ifat air. lime n shall appe.ii to the Government that the association is able to refinance its bonus by obtaining a loan for such purposes from responsible cooperative Ot private sources at reasonable rates and terms for loans for similar pur| oses and periods of time as required by section 333(c) of said Consolidated Farm and Rural Development Act (7 1 S.( 1983(c)), i, K. provide for, execute, and compl) With form FmHA 4004. "Nondiscrtmination Agreement", and Form I mil \ 400 I. "Equal Opportunity Agreement", including an "Equal Opportunit) Clause", which clause is to he in- ;,.rued in, or attached as a ridet to, each construction contract and subcontract involving in exceas ol 110,000 a I , indemnify tin ti nemment foi en} paym< its made ot losses suffered by the Government on behall ol the .... n -, ;, i rtificatioi shall be payable from the same soui t of founds pledged to pay the bond* or any othei leg illy pcmusable source. 5, That upon default in the payments ol any principal and accrue covenant >\ tgreemeni ontained herein oi in the Instruments im it its optio (a) the entire principal amount then i payable, (b) I n ih iccou il the assi ciation (payable from tl othei legally permissable source) incui utd i) i tsonabte expi facility and such othei reasonable i may be necei under any such instrument mav r-'st on the bonds Of m the performance ol any i • making oi insuring the loan, the Government, .1 accrued interest immediate!) due and hinds pledged to pay the bonds Ol any for repair, matotertance, and operation ol die ay be neceisarj to cure the cause oi default, and/or (c) lake rate or rent it. Default under the provisions of this Resolution or oi the i.ian m,i, be construed by the Government to constitute eminent and exe( Uted Ol assumed bj the association, and default Government to constitute delault heieunder. 6. Not to sell, transfer, lease, or otherwise encumber the lacility or any portion thereof, or interest therein, not permit others to do so. without the pnor written consent of the Government. 7. Noi to borrow an) money from anv SOUK*, elite; Into an;, COfltt* I Ol aeicement, » incur any other liabilil in connection with making enlargements,,: iprovementi or axteiukMi to, M I a anv other purpose in connection with tlk facility (exclusive of normal maintenance) without the prtot written consent ol the Government , ,uvh undertaking would involve the source o| funds pledged to pay the bonds. 8. To place the proceeds of the bonds on deposit in an account.in a bank, and m a mariner approved by the Government, FmHA 44247 (Rev 4'- t>) I 9. To comply with all applicable State and Federal laws and regulations and to continually operate and maintain the facility tn good condition. 10. To provide for the receipt of adequate revenues to meet the requirements of debi service, operation and maintenance, and the establishment of adequate reserves. No free service or use of the facility will be permitted. To acquire and maintain such insurance coverage Including fidelity bonds as ma\ he .cquired by the Government. To establish and maintain such hooks and records relating to the operation of the facility, and its financial affairs and to provide for required audit thereof in such a manner as may be required b\ the Government in provide the Government without its request, a copy of each such audit, and to make and forward to the Government such additional information and reports as it may.from time to time require. To provide the Government at all reasonable times access to all hooks and records relating to the facility and access to the properly of the system so that the Government may ascertain that the association Is complying with the provisions hereof and of the instruments incident to the making or insuring of the loan. To serve any applicant within the service area who desites service and can be feasibly and legally served, and to obtain the concurrence of the Farmers Home Administration prior to refusing service to such applicant Upon the failure to provide such service which is feasible and legal such applicant shall have a duec. right of action against the association under this agreement. The provisions hereof and the provisions of all instruments incident to the making Di the insuring of the loan, unless otherwise specifically provided by the 'erms of such instruments, shall be binding upon the association as long as the bonds are held or msured by the Government. The provisions of sections 6 through 13 hereof may be provided for in more specific detail in the bond resolution or ordinance: to the extent that the provisions contained in such bond resolution or ordinance should be found to be inconsistent with the provisions hereof, these provisions shall be construed as controlling as between the association and the Government. 11, 12, 13. 14, The vote was Yeas -—-r Nays Absent £„ IN WITNESS WHFRF.OF, the JBQaxcL..Q.f..Bir.ecia£s. _ of the gggSglJgglHSEJ^P. OK"** D*g£SJ£t_ has duly adopted this Resolution and caused it to be executed by the officers below in duplicate on this —* day of Z«3£Xfe- - , |o ~MJ~ . (SEAL) Attest: JiU9.Kee.Donn.ftr..p.ubIic...Utiiity..Uis.txijct.. By t&tWkl^LjL^tWrfa- Roberta C. Huber Title Jrpairlettt. s LdLS^L I Susan M. Craig Title DcEuJy_B«.1txJ.c.t.-CierJs. CERTIFICATION 1, the undersigned, as Qe-E|uJ;i...Diatf-ict-.Cl.ej:jjf the , TrnrVsit flnnrw ButeOlc utility Bittirit— hereby certify that the iMffil flf BlffltflgM of such Association is composed of >£7 members, of whom X , constituting a quorum, were present at a meeting thereof duly called and held on the — day of *t%-^-~---■ , 1") «5£ , that the foregoing resolution was adopted at such meeting by the vote shown above; and that said resolution has not been rescinded or amended in any way. Dated, this - _Zfi£-_ day of Title Susan M, Craig Deputy District Clerk