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TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
STATEMENT OF GENERAL FUND - February 28, 1980
Bank Balance - February 14, 1980 $ 117,375.80
Truckee Electric & Water Revenue 86,688.79
Donner Lake Electric Revenue 25,662.32
Electric Connection Fees 1 ,750.00
Water Connection Fees 2,001 .00
Facilities Fees 7,075.00
Standby Revenue 27,120.10
Miscellaneous Billings Revenue 1 ,908.06
Miscellaneous Revenue 1 ,343.20
Interest Income 39.70 $ 270,963.97
Approved Billings 6,229.29
Bank of America - Federal tax deposit $ 911 .37
Retroactive payroll
- Federal tax deposit 2,798.66
2/15/80 payroll
- LAIF deposit 94,000.00
- Truck loan payment 474.02 98,184.05
George Cattan - Pension plan payment 258.75
Directors - Board meeting attendance 400.00
IBEW - Union dues, 2/80 236.50
Refund on electric & water connection 490.00
fees:
Lewallen, David
Tahoe National Bank - computer loan 356.44
payment
U S Postmaster - Stamps $ 75.00
- Postage Permit #1 525.00 600.00 (106,755.03)
PAYROLL
Retroactive
12/1/79 - 2/15/80
OT DT Standby Gross Net
Black 309.81 268.75
Connell 383.56 305.44
Grow 541 .05 425.62
Hossack 264.45 225.80
Jones 352.99 277.57
Lopez 603.20 457.92
Lyson 215.60 181 .19
Manetta 314.44 255.17
Marsh 443.57 348.56
Mertens 251 .18 233.27
Norton 599.11 485.69
Pomponio 353.34 283.52
Reynolds 692.44 520.24
Rully 576.07 460.69
Silva 792.14 614.48
Straub 592.79 450.85
Tamietti 453.73 403.51
Waltrip 305.62 248.75
8045.09 6447.02
Temporary & Part-Time Employees
Chavez 22.16 20.58
Johnson 256.52 212.41
Jones, T. 19.60 18.20
McClure 62.28 57.35
McQuary 37.29 34.63
Painter 93.15 81 .39
Schaaf 39.15 36.36
530.15 460.92
8575.24 6907.94 (6,907.94)
PAYROLL
2/15/80 OT DT Standby Gross :Net
Black 520.08 410.01
Chapman 780.21 616.84
Connell 787.55 560.84
Craig 150.94 9.73 762.55 536.04
Grow 31 .92 968.24 676.28
Hossack 556.16 423.37
Jones 31 .03 551 .11 391 .93
Lopez 869.44 606.63
Lyson 510.40 382.91
Manetta 520.08 389.51
Marsh 229.64 871 .16 612.15
Mertens 579.04 487.69
�prton . 98.80 968.24 675.98 G
ReynoTdR 887.04 605.57
Rully 766.48 573.64
Seymour 1337.50 909.53
Silva 936.32 685.16
Slattery 802.50 597.45
Straub 29.64 79.04 98.80 1076.92 723.61
Tamietti 696.80 578.98
Waltrip 673.20 488.80
473.17 88.77 197.60 17057.26 12398.43
Temporary & Part-Time Employees
Chavez 89.90 78.85
Johnson 579.04 441 .52
McQuary 130.20 110.24
Schaaf 105.12 97.63
904.26 728.24
473.17 88.77 197.60 17961 .52 13126.67 (13,126.67)
Bank Balance - February 28, 1980 $ 144,174.33
Bills for Board Approval - See attached (384,632.82)
Bank Balance after payment of above $(240,458.49
LAIF Transfer to cover above bills - transfer 241 ,000.00
to be made March 3, 1980
Balance of account after LAIF transfer $ 541 .51
Present balance of General Fund in LAIF,
Tahoe National Bank, Bank of America and
Wells Fargo Bank is $334,571 .28 after above
transfer of $241 ,000.00.
PAYROLL
2/15/80 OT DT Standby Gross Net
Black 520.08 410.01
Chapman 780.21 616.84
Connell 787.55 560.84
Craig 150.94 9.73 762.55 536.04
Grow 31 .92 968.24 676.28
Hossack 556.16 423.37
Jones 31 .03 551 .11 391 .93
Lopez 869.44 606.63
Lyson 510.40 382.91
Manetta 520.08 389.51
Marsh 229.64 871 .16 612.15
Mertens 579.04 487.69
Norton 98.80 968.24 675.98
Pomponio 636.24 465.51
Reynolds 887.04 605.57
Rully 766.48 573.64
Seymour 1337.50 909.53
Silva 936.32 685.16
Slattery 802.50 597.45
Straub 29.64 79.04 98.80 1076.92 723.61
Tamietti 696.80 578.98
Waltrip 673.20 488.80
473.17 88.77 197.60 17057.26 12398.43
Temporary & Part-Time Employees
Chavez 89.90 78.85
Johnson 579.04 441 .52
McQuary 130.20 110.24
Schaaf 105.12 97.63
904.26 728.24
473.17 88.77 197.60 17961 .52 13126.67 (13,126.67)
Bank Balance - February 28, 1980 $ 144,174.33
Bills for Board Approval - See attached list (384.632.82)
Bank Balance after payment of above (240,458.49)
LAIF Transfer to cover above bills - transfer 241 ,000.00
to be made March 3, 1980
Balance of account after LAIF transfer $ 541 .51
Present balance of General Fund in LAIF,
Tahoe National Bank, Bank of America and
Wells Fargo Bank is $334,571 .28 after above
transfer of $241 ,000.00.
BILLS FOR BOARD APPROVAL: Electric Water General Total
AAA Filter Service Oil, air & gas filters for all vehicles, 1 yr 245.80 245.80
Ace Hardware Miscellaneous hardware supply 7.89 6.84 14.73
Aetna Life & Casualty Life insurance, 2/80 71.32 71.32
Allied Automotive Miscellaneous vehicle parts & tire chains 68.41 68.41
Alpha Hardware Miscellaneous hardware 98.45 98.45
Alpine Business Service Office supplies .74 .74
American Water Works Association Publication - "Water Rates & Finances" 11.00 11.00
Arnett Testing Laboratory Test rubber gloves 30.25 30.25
Atlantic Richfield Company Gasoline 1 ,389.77 1 ,389.77
Bi-State Petroleum Hydraulic oil, antifreeze & chassis grease 555.78 555.78
Blue Cross Health insurance, 3/80 2,800.98 2,800.98
Boss Manufacturing Company Rain suits 194.93 194.93
Cadell Chevrolet P. 0. 5170 - One 1980 Chevrolet 44 pick-up 7,504.80 7,504.80
State of California:
Dept. of General Services Radio maintenance & engineering, 1/80 896.35 896.35
Camellia Valley Supply, Inc. Fire hydrant & remote register 472.45 472.45
Clarke Stationers Office supplies 31.60 31.60
Cook Associates Consulting services 1/80 8,127.57 8,127.57
Billed: Gold Town Condos $ 52.09
Don Toomey 48.21
Dart Resorts 988.60
Cranmer Engineering, Inc. Radiochemical analysis-Northside & Donner 45.00 45.00
Creek wells
1000
Credit Bureau Tahoe-Truckee Dues, 2/80 . .
Crown Life Insurance Company Long term disability, 3/80 605.92 605.92
Digital Equipment Corporation Maintenance coverage on computer, 1/80 99.00 99.00
Farmer Brothers Coffee Coffee 25.02 25.02
Farmer's Home Administration Interest payment 9,300.00 9,300.00
Frazier Iron Works Welding services 25.00 25.00
Andy Freed Snow removal office parking lot 175.00 175.00
General Electric Supply P. 0. 270 - 2,385' #2 triplex conch $ 783.71 52,112.40 52,112.40
270 - 3,000' #2 triplex conch 1 ,211.05
212 - 2 multi meters 233.20
183 - 4" service sleeve 431.12
269 - anchor rods & machine bolts 405.00
4661 - 3 voltage regulators 49,048.32
General Pacific, Inc. P. 0. 163 - 8015' #2 triplex 2,667.71 4,972.57
194 - 96 electric meters 2,304.86
BILLS FOR BOARD APPROVAL: (Continued) Electric Water General Total
W. W. Grainger, Inc. Tool boxes 91.62 91 .62
Graybar Electric Company Glove liners & clamp pins 85.72 85.72
Grumer & Pfotenhauer, Ltd. Legal fees, 2/80 402.00 830.00 1 ,267.00 2,499.00
Hall's Safety Equipment Company Aerial tool box, bucket kit & bucket tool 135.98 135.98
apron
High Country Answering Service Answering service, 3/80 65.75 65.75
J & M Tire Distributors Tire exchange 86.42 86.42
Jack's Tow Service Tow service 65.00 65.00
L & V Fuel, Inc. Gasoline 372.41 372.41
080
Marwell Corporation Meter base adaptor 140.80 142.77
Maydwell & Hartzell, Inc. Fuses 342.77 135.00
M & R Construction Snow removal office parking lot 135.00 35.62
McDonough, Holland & Allen Legal services, 1/80 330.62 349.1
Modern Service Office Supply Office supplies 49.12 46.
County of Nevada, Marcella J. First installment sewer assessment payment 746.46 746.46
Carson, Tax Collector
011ie's Auto Repairing Smog inspection certification 52.90 17.50
90
Osburn's Garage Vehicle repairs, tow service 477.73 705.73
Pacific Telephone Monthly telephone charges, 2/80 417.73 705.73
Monthly telemetry charges, 2/80 228.00 3555
Pizza Shack Meals for employees working during storms 35.55 62.92
Poole Fire Equipment Service of fire extinguishers .92 .94
Public Employer Personnel Monthly retainer & expenses, 1/80 1 ,228.94 1 ,228.94
Consultants
Red Star Industrial Linen service, 2/80 68.04 68.04
RTE Corporation Two 75 KVA padmount transformers 2,071.24 2,071.24
Ruralite Services, Inc. Safety training, 12/79 200.50 200.50
Sandel-Avery Engineering Engineering services, 2/80 661.23 661.23
Sierra Pacific Power Company Purchased power, 1/80 276,706.76 276,706.76
Sierra Sun Bonanza Publication of "Thank you for your patience 34.50 85.75 120.25
...during the storms" & Notice of Public
Hearing
32
The Standard Register Company P. 0. 5093 - 49,060 billing statements 4,195.20 4,195.20
Sun Printing Office supplies 195.20 159.68
Tahoe-Truckee Sanitation Agency Water analysis, 1/80 59.68 55.00
Tahoe-Truckee Unified School Use of conference room, 1/24/80 5.00 5.00
District
BILLS FOR BOARD APPROVAL: (Continued) Electric Water General Total
Truckee Donner Disposal Garbage service, 1/80 80.50 80.50
Truckee Hotel Meals for employees who worked during storms 116.41 116.41
Truckee Lockshop Keys for gas pump 10.60 10.60
Truckee Taylor's Tires Tire repairs 11.00 11.00
UPA International Drill bits 45.24 45.24
Vartron Corporation Computer programming 128.48 128.48
Wedco, Inc. Miscellaneous items for electric inventory 2,037.41 2,037.41
& transformers
Western Hardware & Tool Co. Miscellaneous hardware 316.99 316.99
18.92 18.92
Zellerbach Paper Company Paper towel dispenser
339,984.88 20,837.01 23,810.93 384,632.82
Public Hearing Notice
Truckee Donner Public Utility District
ELECTRIC RATE INCREASE IN TRUCKEE
Since January 1, 1976, the District has not significantly increased its basic
electric rates to its domestic and small commercial customers. While it is true
that the total cost of electricity to our customers has gone up tremendously, it
is equally true that the basic rate has not changed significantly. The cost of
electricity to our customers is based on many factors, the most important of which
are.
1. The cost of the power we purchase from Sierra Pacific
Power Company.
2. The cost of power we lose through line loss-, transformer
loss, billing losses and theft.
3 . The cost of operating street lights.
4. The cost of operating the District.
5. The depreciation costs of District electrical facilities.
6. Repayment of debt from previous loans from the REA and
from Sierra Pacific Power Company.
The largest and most important of all of these costs is the wholesale cost of power;
that is, what the Truckee Donner Public Utility District pays Sierra Pacific for the
power purchased. The monthly wholesale cost of power can be broken down into four
major parts:
a) A fixed customer charge which the District pays every month
regardless of the amount of power used.
b) A demand charge based on peak demand the District makes on
Sierra Pacific's facilities.
c) A base cost per kilowatt hour times the number of kilowatt
hours purchased.
d) The cost of fuel in excess of that contained in the base
kilowatt hour cost. This is called the fuel charge and
varies from month to month. The Public Utility Company in
turn charges its customers a base electric rate for a min-
imum of 60 kilowatt hours. This is equivalent to a cus-
tomer charge and a certain cost per kilowatt for the first
60 kilowatt hours. Above 60 kilowatt hours the District
charges a flat per kilowatt hour charge for all kilowatts
used. Additionally, the District also charges a fuel charge
based upon the fuel charge they pay to Sierra Pacific. In
August 1979, Sierra Pacific changed the amount of fuel cost
included in its basic wholesale rate. The District followed
suit.
Page 1 of_ 2
The reason the total cost of electricity goes up without a change in rates is be-
cause the fuel cost goes up. Unfortunately, there is nothing the District can do
about increasing fuel costs.
Excluding the fuel charge, the remaining charge for electricity per kilowatt hour
is used to operate the District and pay for all of the costs listed above in items
1 through 6. It is this portion of the electric rate that the District is now plan-
ning to increase.
Why?
In August of 1979, the wholesale cost of electricity increased approximately 7.2%.
Further, the costs of everything the District purchases (material, labor, and ser-
vices) have all increased tremendously. These costs are continuing to increase at
a rapid rate. The current inflation rate stands at 18% as of January, 1980_ Despite
inflation, for over four years the District has absorbed increasing costs of opera-
tion without passing them on to the customers.
How has the District been able to accomplish this? Several things have contributed
to the District's ability to keep its cost per customer fairly low. First is the
large number of customers the District has connected to its system in the past three
years. This increases the efficiency of our system and reduces the cost per customer.
We now have more customers per mile of transmission line than ever before. The Dis-
trict has also been frugal in the way it spends its revenue_ Virtually, everything
the District buys is bought only after competitive bidding or quotation. The Dis-
trict has also, through improved administrative procedures, reduced billing losses
and losses from theft. Administrative salaries have been held in check. The Man-
ager, Office Manager, General Foreman and District Secretary have received only one
general 7% increase since February of 1977_
On several occasions in recent months, the District staff and Board have observed
periods when expenses exceeded revenue. If the District is going to remain healthy
and provide good service, this trend must be reversed. Therefore, based on the
budget for 1980, the District Board of Directors is considering an 111% increase
in electric rates. Even with this increase, TDPUD rates for most domestic customers
will be lower than those of Sierra Pacific-
This notice is but a brief explanation of why a rate increase is necessary. All in-
terested citizens are urged to attend the public hearing at the Board Meeting on
Monday, March 3, 1980, to learn more details about the rate increase and to ask
questions so that they may better understand what is happening and why.
The hearing will be held at 7 :30 P.M_ . or as soon thereafter as possible, at the
Tahoe Truckee High School auditorium.
Interested parties are invited to express their views during the hearing in written
or oral form, or to submit written views prior to the time of the public hearing
at the TDPUD office on Donner Pass Road or by mail to P_ O. Box 309, Truckee, Cal-
ifornia 95734.
AMS/smc - 2/22/80
1000
IWl
U.D. 9o-b.17, 1980
309 ----------
��uaclzee, Cot. 95734
----
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APPLIANCE 5AlES•REPAIRORDER
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ESTIMATED CHARGES INCLUDE Es!mme Cus!emer s 0 K. C',^,os i
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r. '"f ai outhonmron to cover oddil anal r urges ,NOTE: I equipment is re!urned a!, .u,'s T:E!
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3�
LAW OFFICE OF 3,.-'. ... 4... ..---.
GHIRARDELLI SQUARE
.CHOCOLATE BUILDING, FOURTH FLOOR
900 NORTH POINT
SAN FRANCISCO,CALIFORNIA 94I09
t i __.G� � ? -v <�ia S.�.ef _--!/.,. _ _.. -.._... j (4151 441-121t
"y
February 28, 1980
Truckee-Donner Public Utility District
P. O. Box 309-
Truckee , California 95734
Re : Sierra Pine Subdivision
Ludvik Limberg-Christa Limberg
Martinez 20 acres , Assessor ' s
Parcel Nos . 80-060-56 , 57 , 58
and 59
Gentlemen:
I am writing this letter on behalf of the
owners of the above-described properties , Ludvik and
Christa Limberg, and myself, for the purpose of formally
requesting to the Truckee-Danner Public Utility District ,
that we be annexed for the purpose of obtaining water therefrom.
Ludvik and Christa Limberg have previously ob-
tained a will serve letter from the Public Utility District.
I am now requesting a similar will serve letter for the 20
acres adjoining Mr . Limberg' s property.
The Limberg will serve letter was subject to being
annexed to the Truckee-Donner Public Utility District.
We have been advised that there is a meeting of
the District Monday, March 3 , 1960 . One of the matters on
the agenda, we understand, is the annexation of certain
properties to the Public Utility District.
We are writing this letter because we are concerned
about rumors that our properties are to be excluded from annex-
ation.
Mr. Limbera has recently obtained approval from the
Placer County Planning Commission for a proposed 34 lot sub-
division. One of the matters necessary for completion there-
of is annexation. If for any reason Mr. Limberg' s property
is not to 'be included within the District, he would respect-
fully request an opportunity to be heard prior to any decision
excluding him therefrom.
V E D,
can I rs TO
,
i980
'C ,U IC:E L7C;.,4 R P.U.D. y� - - ---
w---January`3r;�980 Dart ResortcEj
A Division of Dart Industries Inc�.� Phone (9t§.).5&7.-6067,
PUBLIC UTILITIES DISTRICT
.._ P.O. Box 308
Truckee, CA 95734
Attn: Milt Seymour
Gentlemen;
Attached for your consideration are preliminary prints of the proposed
Northside Pump Station revisions connected with the Airport Well - Pipeline
Project.
Of prime concern to us at this time, is the plan to make the two new
required connections to the existing Northside Tank. We would like to make
these two connections as indicated on the Northside Tank Connection Detail,
prepared by Cramner Engineering, during the month of February if possible.
It is our thinking that this is probably the period of lowest demand on the
tank and therefore, it can be taken out of service for a short period with
the least consequence. The normal time period prescribed for this work by
the over-all Construction Schedule, could fall in July - August, high summer
use months, which seems ill advised.
The Proposal is to award this work to an acceptable Contractor, construct
the two spool pieces off-site and when all is ready, empty the tank and make
the connection as rapidly as possible, certainly in less than 4 working days.
The tank can then be placed back in service and the shut off valves will be in
place for next summer's completion of the work without further disruption of
service from the tank.
If this plan is used, it will set the configuration and position of the
pump station expansion to that shown on the Plan entitled Site Plan and Yard
Pik.
Approval of this plan is requested so that fabrication of the spools and
purchase of the valves can proceed as outlined above. Specific down time for the
tank can be scheduled on completion of this off-site work. Your prompt attention
Is appreciated.
Very truly yo s, _l
Fred Whitford CC: S. Karsh
Construction Admin. K. Goddard
C. Hauser
FW:kf K. Sauers
Fnc. D. Cook
Tahoe Donner Project office: Donner Pass Road at Lake Street, Suite N4
P.O. Drawer G. Truckee. California 95734
LAW OFFICES OF
STURGIS, NESS, BRUNSELL £3 SPERRY
A PROFESSIONAL CORPORATION ......
EUGEN E,:IC.SA'YUR 1 (t8��-(O76}" ' SUITE HS0,WATERGATl�TOWER
EDl'. iN N:NESS k ' ;- r 11
»-N EMERYVILLE.CALI?64Q4IA'94608
R011ERT SRUNSELL TON -
., ELEPHE C415J 6�52-758$- - '-' -
SP.MUEL A.SPERRY -- -
_; j February 20, 1980
Ms. Jan Hawkins
Stone & Youngberg Municipal Financing Consultants
Suite 2750, One California Street
San Francisco, California 94111
Re : Proposed Water System Revenue Bond Election for June 3, 1980;
Truckee-Donner P. U. D. ; Contract for Financial Consulting Services
Dear Jan:
This is to confirm several aspects of my telephone conversation with Vic
this morning as follows:
1. Enclosed is a copy of my letter of February 8 to Milt Seymour, together
with a copy of each of the enclosures enumerated in the letter as items
1-7.
2. Also enclosed is a copy of Milt' s letter to me of February 13, together
with a copy of each of the three enclosures from Milt, consisting of
the letter of conditions , the authorizing resolution, and an amending
resolution respecting the P. U. D. ' s drought relief loan from FmHA.
This will confirm that I am advised that the Board of Directors of the
District voted at their meeting last night to retain your firm as financial
__. consultants for a proposed water system revenue bond election to be held
on June 3, 1980. 1 have been requested by Susan Craig, Executive Secretary
of the District, to have you forward your contract in the usual form for
such services. We will prepare and submit to Susan the required form of
resolution to authorize the agreement with Stone & Youngberg at the meeting
on March 3.
This will also confirm that you and Ken Hammon will plan to be present at
the meeting on March 3 to provide a brief presentation respecting your
services and to answer questions which staff or Board members may have
respecting either your agreement or any related aspect of the election
and bond issuance proceedings. I will also be present.
�b
Truckee-Donner Public
Utility District
Page 2
February 28 , 1980
As the owner of the adjacent 20 acres , I would
request the same opportunity if my property is not likewise
included .
Our very best wishes to you.
Yours very truly,,
GEORGE C. MARTINEZ
GCM:kh
7T
LAW OFFICES OF
STURGIS, NESS. BRUNSELL £3 SPERRY
A PROFE_9IONAL CORPORATION
EUGENE K.STURCIS(1892-1976) _ SUITE 1150,WATER-GATE TOWER
EDWIN N.NESS F..MER-YVILLE,CALIFOR-NIA 94608
ROBF,jiT SRUNS4LL'. �a L`� '`' Cu TELEPHONE(415) 652-7588
SAM()EL A:'S PERRY
25 , 1980
A. Milton SeXTour, 1 Manager
'JVVuckeeDonner Public Utility District
P. O. Box 309
Truckee, Ca. 95734
Re: Proposed Revenue Bond Election June 3, 1980
Dear Milt:
Confirming our conversation this past Thursday, Jan Hawkins
of Stone & Youngberg and I have worked together to determine
the recommended amount of bond authorization of $350 , 000 . This
amount has now been inserted in the several resolutions to be
considered by the Board at the March 3 meeting.
To facilitate Board consideration of this subject, I have pre-
pared and enclose a memorandum of proceedings, which entails the
amounts included in the proposed bond authorization and which out-
lines the steps to be taken by the Board at the March 3 meeting
and to be taken by staff thereafter.
Both Jan Hawkins and Ken Hammon of Stone & Youngberg will be
present at the March 3 meeting, as will I . In the meantime, if you
have any questions, don't hesitate to call on us.
Yours very truly,
STURGIS , NESS, BRUNSELL & SPERRY
a .rofessional corporation
Samuel A. Sperry
SAS :mc
Enclosure
cc: Jan Hawkins
Dan Cook
Ms. Jan Hawkins
February 20, 1980
Page 2
In the meantime, the Board of Directors is meeting tomorrow in an attempt
to determine the components of the water system improvement project for
which revenue bond funding will be sought. In that connection, I will
.need to revise several of the documents which are enclosed since they
were based on a preliminary and changing expectation of the project involved.
Assuming that the Board does act to determine the project components, I
will contact you on Friday (the 22nd) to develop the amount of bond
authorization which should be sought.
Based on my conversation with Susan Craig, this is to request that your
contract for financial consulting services include a review of the terms
and conditions of the drought relief loan from FmHA, and particularly the
provisions of paragraph 31 of Resolution No. 77-47, and preparation of the
required analysis for the District to confirm that the District may issue
"additional parity bonds" as described in the Resolution. Furthermore;
your proposal should cover any necessary discussions and liaison with
FmHA, to whom the District hopes to sell the bonds, although the applica-
tion process with FmHA is only in the most preliminary stages at this time.
Very truly yours,
STURGIS , NESS, BRUNSELL & SPERRY
a professional corporation
Samuel A. Sperry
SAS:mm
((((Enclosures
\ Jcc: Mr. Milt Seymour
MEMORANDUM OF PROCEEDINGS TO BE TAKEN BY THE TRUCKEE-
DONNER PUBLIC UTILITY DISTRICT ON MARCH 3 , 1980 WITH
RESPECT TO TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
WATER SYSTEM IMPROVEMENT REVENUE BOND MEASURE
A. INTRODUCTION
Both the description of the proposed water system project and the
amount of bond authorization being sought are based on information
communicated to us by your staff following your special meeting on
Thursday, February 21. Based on that information, it is our understand-
ing that the following items are to be included in the proposed water
system project:
A. Evergreen Circle Loop Line $ 17 , 450
B_ New Construction @ Southside
Complex New Addition to
Southside Well #2 123 , 200
C. Palisades Booster Refit 24 , 000
D. Hospital Loop 22 , 000
E. Tonini Springs
1 . Pumps on Electrical $14 , 000
2 . Connect Existing
Services to Existing
6" Line 4 , 500
3 . Provide Overflow Drainage 8 , 000
4 . Provide Fencing & Gates 3 , 500 30 , 000
F. Prosser Heights Pressure
Reducer & check valve 7 , 000
G. Install Strainer & gate
valve In-flow meter box at
Soma Sierra Tank 1, 300
TOTAL $ 224 , 950
Assuming a project to include these items , with the related estimated
construction cost, we have prepared the estimated amount required
for the bond issue as follows:
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I . ESTIMATED CONSTRUCTION COST
Schedules A through G, inclusive S 224 , 950
Construction Sub-total $ 224 , 950
Construction Contingency 22 , 550
Construction & Contingency $ 247 , 500
II . INCIDENTAL EXPENSES
A. Engineering Design 19 , 346
B. Inspection contract administration 2, 500
C_ Bond Counsel (fee and expense) 9 , 000
D. Financial Consultant (fee and expense) 7 , 500
E. Bond Election expense 3 , 000
F. Bond Reserve Fund 35 , 000
G. Bond Discount 21 , 000
H. Mis . cost and expense 5, 154
Incidental Expense Sub-total $ 102 , 500
Total Bond Authorization $ 350, 000
The amounts estimated for bond reserve fund and bond discount are
premised on the assumption that you w411 be required to sell these
bonds in the open market rather than to Farmers Home Administration .
In that connection, we have assumed a 20 year maturity schedule,
a 9% interest rate, and a 6% discount. In the event that this
project qualifies for loan financing from Farmers Home Administration,
- Farmers Home Administration will purchase the bonds on substantially
more favorable terms . At present those terms would be a 40 year
maturity schedule, 5% interest rate , and zero discount.
Preliminary discussions with the staff of Farmers Home Administration
in Woodland suggest that they cannot give any meaningful) indication
at this time of the prospect of qualifying this project for financial
assistance, nor can they indicate whether, if the project were to
qualify, it could be funded during this present fiscal year (expiring
September 30, 1980) .
Assuming that you are prepared to proceed with the bond election as
recommended by staff, you should take the steps outlined as follows :
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B. ACTION FOR MARCH 3 BOARD MEETING
1. Resolution appointing special bond counsel and authorizing
execution of agreement.
2 . Resolution calling, providing for and giving notice of a special
election to be held in said district on Tuesday, June 3, 1980 ,
for the purpose of submitting to the qualified voters of said
district a proposition for the issuance of revenue bonds by said
district, and requesting consolidation of said election with
the statewide election for said date.
3. Resolution appointing financial consultant and authorizing
execution of agreement.
4 . Resolution requesting that certain services be performed by the
County of Nevada in connection with the special bond election to
be held within the district on Tuesday, June 3, 1980 .
5. Resolution authorizing certain members of the Board of Directors
to file a written argument for a district measure.
In regard to the resolution appointing special bond counsel, we have
- submitted to you our standard form of agreement for this purpose.
With respect to the financial consultant, we are advised by Stone &
Youngberg that they have forwarded their proposed contract to you
directly.
C. FOLLOW-UP ITEMS
Assuming that the Board adopts the five resolutions as recommended,
the following follow-up steps are required:
1. Advise Melba Polglase by telephone on March 4 of the decision to
/ proceed with the election, and arrange for delivery to her as
✓ soon as possible of a certified copy of the resolution calling
the election and requesting consolidation, together with a copy
of the resolution requesting services of the County Clerk and a
copy of the resolution authorizing Board members to file argument
in favor.
2 . Forward to Melba the proposed notice re arguments, to be published
on March loth in the Sierra Sun.
3. Forward a copy of the draft of impartial analysis to the Nevada
County Counsel with a request that he prepare and submit to the
County Clerk an impartial analysis of the revenue bond measure.
�,A . Provide bond counsel and financial consultant with executed
copies of their respective agreements .
-3-
5. Provide bond counsel with a certified copy of each of the 5
resolutions.
STURGIS, NESS, BRUNSELL & SPERRY
a professional corporation
By: Samuel A. Sperry
SAS :mc
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i
IMPARTIAL ANALYSIS OF REVENUE BOND MEASURE
Adoption of this measure requires the affirmative vote of
a simple majority of those voting on the measure. If adopted , it
would authorize the Truckee-Donner Public Utility District to issue
Cl G
and sell up to principal amount of water
system revenue bonds and to use the proceeds of the bond sale for
the purposes stated in the measure.
Bond principal and interest would be payable strictly
from the revenues received by the District from the water system
operations, including user charges and standby charges , wherever
applicable.
The District Board of Directors has acknowledged that a
rate increase will be necessary in order to repay the bonds with
interest, but the amount or percentage of the rate increase is
presently undetermined.
-- County Counsel, County of Nevada
Ad,
cY
NOTICE OF TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
REVENUE BOND MEASURE AND DEADLINE FOR SUBMISSION
OF ARGUMENTS FOR OR AGAINST THE MEASURE
NOTICE IS HEREBY GIVEN that an election will be held in
the Truckee-Donner Public Utility District, Nevada County, Cali-
fornia, on TUESDAY, JUNE 3, 1980, at which time there will be sub-
mitted to the voters of said District the following measure:
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT WATER SYSTEM
IMPROVEMENT REVENUE BOND MEASURE: Shall the Truckee-
Donner Public Utility District issue revenue bonds
in the principal sum of not to exceed
to finance the construction and installation of improve-
ments to the water system of said District, including
but not limited to water transmission and distribution
mains and lines, pumping facilities, pressure regula-
tion facilities, and appurtenant facilities, together
with acquisition of any necessary land, easements or
rights-of-way, and including all fees, costs and
expenses incidental to such improvements and the
related financing?
NOTICE IS HEREBY FURTHER GIVER that written arguments may
be submitted to the undersigned County Clerk for or against said
measure.
NOTICE IS FURTHER GIVEN that such arguments may be sub-
mitted by the governing board of the District or by any member or
members of the Board of Directors authorized by said Board of Dir-
ectors, or by any individual voter or bona fide association of
citizens or any combination of such voters and associations.
NOTICE IS FURTHER GIVEN that such arguments to be con-
sidered must be received by the undersigned County Clerk at her
office at the Nevada County Courthouse, Nevada City, California,
not later than March 21, 1980, at 5 :00 P.M. , until which time
arguments which have been submitted may be changed, and that no
argument shall exceed 300 words in length.
Pursuant to Section 3785 of the Elections Code, any
ballot argument submitted in regard to this revenue bond measure
shall not be accepted unless accompanied by the name or names of
the person or persons submitting it, or, if submitted on behalf
of an organization, the name of the organization and the name of
at least one of its principal officers. No more than five signa-
tures shall appear with any such argument. In case any argument
is signed by more than five persons, the signatures of the first
five shall be printed.
In conformity with Section 5350 of the Elections Code,
any argument submitted concerning this revenue bond measure shall
be accompanied by the following form of statement, to be signed
by each author of the argument:
"The undersigned author (s) of the (primary/rebuttal) argu-
ment (in favor of/against) the ballot proposition for the issuance
of revenue bonds by the Truckee-Donner Public Utility District at
the special election to be held on June 3, 1980, hereby state that
such argument is true and correct to the best of (his/their) know-
ledge and belief.
Signed Date
(end of form of statement)
NOTICE IS FURTHER GIVEN that if more than one argument for
or more than one argument against the measure is submitted within
the time herein prescribed, the County Clerk will select one argu-.
ment for the measure and one argument against the measure which will
be printed and distributed to the voters of the District, and she
will send copies of the argument in favor of the measure to the
authors of the argument against the measure and copies of the argu-
ment against the measure to the authors in favor of the measure.
The authors may prepare and submit rebuttal arguments which shall
not exceed 250 words in length. The rebuttal arguments shall be
filed with the County Clerk not more than ten (10) days after the
final date given above for filing direct arguments. In selecting
arguments , the Clerk shall give preference and priority in the
order named to the arguments of the following:
(a) The Board of Directors of the Truckee-Donner Public
Utility District, or member or members of said Board authorized by
said Board;
(b) The individual voter or bona fide association of citi-
zens or combination of voters and associations, who are bona fide
sponsors or proponents of the measure;
(c) Bona fide associations of citizens;
(d) Individual voters.
NOTICE IS FURTHER GIVEN that said election shall be consoli-
dated with the General Election to be held on Tuesday, June 3, 1980.
The polling places shall be open at 7 : 00 A.M. to 8 : 00 P.M.
DATED: March 10, 1980
MELBA J . POLGLASE
Nevada County Clerk
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S -r0NE &L Y0UNGB ]�;_ RG..,
,�yUiNlP-IaPA,(r FINANCING CONSULTANT$„_INC.
February 22, 1980
„
Mr. A. Mi ' on-Se mour-,_G.en.eral Manager
....... .... .
Truckee-Donner Public Utility District
P. O. Box 309
Truckee, California 95734
RE: Municipal Financing Consulting Services
Water System Improvement Program
Dear Mr. Seymour:
Stone & Youngberg Municipal Financing Consultants, Inc. will be pleased to provide
the Truckee-Donner Public Utility District the financing consulting services as dis-
cussed with Samuel Sperry, bond counsel, in support of the District's Water System
Capital Improvement Program. We can provide the necessary broad technical know-
ledge and experience required to successfully conduct the various tasks of the assign-
ment. In particular, our professional organization can address the questions regard-
ing support of bond election activities, issuance of debt instruments, obtaining Fed-
eral and State Loan participation, and economic impact to customers which are com-
parable to those we have encountered and solved in numerous other governmental
and business studies .
We offer for additional consideration this list of attributes which we believe are unique
to our firm:
o We have extensive, recent experience in support of bond elections
and preparation of water system financing programs.
o Our staff includes members with backgrounds in finance, political
science, engineering and law, in addition to national experience in
the issuance of various types of debt instruments . This will facili-
tate the development of financial recommendations which reflect a
harmonious integration with the engineering, environmental and
financial aspects of the study.
o We have successrully obtained and are currently employed by
several public agencies in obtaining low interest loan participation
from Farmers Home Administration and from provisions in the State's
Clean Water Bond Law of 1976.
yam_ SUITE 2750 ONE CALIFORNIA STREET • SAN FRANCISCO.CALIFORNIA 94111 - (415) 989-2300
Mr. A. Milton Seymour, General Manager February 22, 1980
Truckee-Donner Public Utility District Page 2
o Stone & Youngberg Municipal Financing Consultants, Inc. has com-
pleted, or is currently working harmoniously with the District's
consulting engineer and bond counsel.
Attached herewith is:
(a) Proposed Contract
(b) Description of Stone & Youngberg Municipal
Financing Consultants , Inc.
(c) List of Water Projects.
(d) Resumes of Consultants to be assigned to
your project.
We would welcome the opportunity to provide the Truckee-Donner Public Utility
District the consulting services on this interesting and important project. Should
you have any questions regarding our experience and qualifications, please contact
us through our San Francisco office.
Very truly yours,
STONE & YOUNGBERG
Municipal Financing Consultants, Inc.
Victor T. Subbotin
Vice President
VTS: by
encls.
b�
4r_0
STONE &_, Y0UN0T3H- nGr
f MUNICIPAL FINANCING CONSULTANTS, INC.
Since its founding in 1931, Stone & Youngberg Municipal Financing Consultants,
Inc. has gained national recognition and leadership in the field of professional
municipal financing consulting. A pioneer in the concept, the firm has been
employed as financing consultant in connection with more than 2,500 public im-
provement projects and has helped communities throughout the country raise
over $9 billion. These projects include virtually every type of civic improve-
ment: water, sewerage, parking, airports, ports and harbors, drainage,
schools, hospitals, hydroelectric plants, bridges, parks, urban renewal and,
in addition, the development of long range, comprehensive capital improvement
programs .
Our clients range in size from federal agencies, state and foreign governments
with multimillion dollar projects, to communities requiring assistance with
issues of $100,000. Each client, regardless of size, receives the same scrupu-
lous attention that has made Stone & Youngberg's service a hallmark for over
40 years .
A wide variety of financing methods are available to each entity. Among the
methods we have recommended for our clients are: the sale of general obliga--
tion, revenue, and assessment bonds; non-profit and public authority revenue
bonds; state and federal loans and grants; "turnkey" and private placement
and contract of sale, each with special application.
Stone & Youngberg Municipal Financing Consultants, Inc. offers professional
expertise that assures:
1. Sufficient money is obtained to finance the needed capital
facilities .
2. Financing is obtained under terms and conditions which are
within the ability of the community to pay without undue burden.
2. Borrowing is accomplished at the lowest possible cost and under
the most advantageous terms .
The experience of our firm covers almost every type of problem and solution in
the field of public finance. We are prepared to place that experience at your
disposal upon your request.
SUITE 2750 - ONE CALIFORNIA STREET • SAN FRANCISCO. CALIFORNIA 94111 • (415) 999-2300
CURRENT WATER PROJECTS
STONE & YOUNGBERG MUNICIPAL FINANCING CONSULTANTS, INC .
Almonte Sanitary District Florin Community Services District
Alpine Springs County Water District Fort Bragg, City of
Alturas, City of Fresno, City of
American Canyon County Water District Goleta Sanitary District
Anderson, City of Granada Sanitary District
Apopka, City of, Florida Gridley, City of
Arroyo Grande-Grover City-Oceano Grover City, City of
Arroyo Grande, City of Gustine, City of
Atascadero County Water District Hagginwood Sanitary District
Atwater, City of Hanford, City of
Auburn, City of Hayward, City of
Avila Sanitary District Healdsburg, City of
Banning, City of Hollister, City of
Bay County, Florida Imperial Beach, City of
Bear Valley Development Company Indio Sanitary District
Belmont, City of Interlochen Sanitation District
Big Bear Valley Municipal Water District June Lake Public Utility District
Boise-Cascade Recreation Communities Jurupa Community Services District
Bolinas Community Services District Improvement Districts 2 & 3
Brentwood, City of Lakeport, City of
Burney County Water District Lamont Public Utility District
Calistoga, City of LAVWMA (Livermore-Amador Valley
Cambria County Water District Management Agency)
Capitola Sanitation District Lemoore, City of
Capitola Sanitation District, Improvement Leucadia County Water District
District No. 1 Lindsay, City of
Carlsbad, City of Livermore, City of
Casselberry,, City of, Florida Livingston, City of
Central Contra Costa Sanitary District Lodi, City of
Ceres, City of Los Alisos Water District
Charterwood Municipal Utility Dist. , Texas Los Altos, City of
Chico, City of Los Altos Sanitary Sewer & Capacity
Chino, City of Acquisition District
Chowchilla, City of Los Banos, City of
Clovis, City of Maitland, City of, Florida
Coalinga, City of Malaga County Water District
Colton, City of Mammoth County Water District
Contra Costa County Sanitation Dist. No. 3 McFarland, City of
(joint with San Pablo Sanitary District) Manteca, City of
Corcoran, City of Marincello
Crescent City, City of Marina County Water District
Crestline San. Dist. , A.D. 9 & 10; 11 & 12 Menlo Park, City of
Cucamonga County Water District Menlo Park Sanitary District
Danish Brotherhood Cultural Center Ass'n. Metcalf & Eddy and Charles S.
Del Rey Community Services District McCandless & Co.
b
CURRENT WATER PROJECTS_ (Cont'd)
Delano, City of Mono County-Mammoth Lakes Basin,
Del Mar, City of Sewer Assessment District No. 1
Diamond Springs-El Dorado Area Montara Sanitary District
Dinuba, City of Montecito Sanitary District
Douglas County Sewer Improvement Monterey, City of
District No. 1, Nevada Moorpark County Sanitation District
East Bay Municipal Utility District, Moulton-Niguel Water District,
Special District No. 1 Improvement District No. lA
East Cliff-Capitola Sanitation•Districts Moulton-Miguel Water District
East Quincy Services District Improvement District No. 2A
E1 Dorado County Sanitation Dist. No. 2 Moulton-Niguel Water District
El Dorado County Water Agency Improvement District No. 3A
Enterprise Public Utility District Murphys Sanitary District
Napa County San Luis Obispo, City of
Napa County Flood Control & Water San Luis Obispo County, Cambria
Conservation District Assessment District No. 2
Napa Sanitation District San Pablo, City of
Nashville & Davidson County, Tenn. San Pablo Sanitary District
Needles, City of Sanger, City of
North Tahoe Public Utility District Santa Clara County Sanitation Dist. No. 4
Oakdale, City of Santa Maria, City of
Oakley County Water District Santa Margarita Water District
Oceano Sanitary District Improvement District No. 1-S
Orange County Sanitation District No. 7 Santa Nella County Water District
Orange County Sanitation District No. 12 Santee County Water District
Orange County, Florida Santa Rosa, City of
Orange County Sewer District, Florida Scotts Valley County Water District
Orange Cove, City of Selma, City of
Oroville, City of Simi Valley, City of
Otay Municipal Water District, Simi Valley County Sanitation District,
Improvement District No. 14 Assessment Districts Nos . 10 & 11
Otay Municipal Water District Sonoma County (Guerneville)
Pacific Grove, City of Sonoma County-Santa Rosa Plain
Palm Springs, City of, Sonoma Valley Sanitation District
Assessment District No. 121 South Bay Dischargers
Palm Springs, City of, South Laguna Sanitary District
Assessment District No. 122 South San Francisco, City of
Paso Robles, City of South San Luis Obispo County
Pebble Beach Sanitary District Sanitation District
Petaluma, City of Southern San Mateo County Sewerage Plan
Pinole, City of Stege Sanitary District
Pismo Beach, City of Stinson Beach County Water District
Pittsburg, City of Stockton, City of
Placerville, City of Sunnyvale, City of
Red Bluff, City of Susanville Consolidated Sanitary District
Redding, City of Thermalito Irrigation District
Redlands, City of Thousand Oaks, City of
CURRENT WATER PROJECTS (Cont'd)
Redwood City, City of, General Improve- Thousand Oaks, City of, Municipal
ment Districts Nos. 3-65 & 1-64 Sewer District No. 1
Reedley,, City of Tracy, City of
Richmond, City of, Municipal Sewer Triunfo County Sanitation District
District No. 1 Truckee Sanitary District
Rio Linda County Water District Tulare, City of
Riverbank, City of Tuolumne County Water District No. 1
Riverside, City of Turlock, City of
Rocklin-Loomis Municipal Utility District Union Sanitary District
Rodeo Sanitary District Vacaville, City of
Russian River Sanitation District No. 1 Vallejo Sanitation & Flood Control District
St. Helena, City of Valley Community Services District
San Bernardino, City of Valley Sanitary District
San Bernardino County Service Area, No. 64 Ventura County
San Bernardino County Service Area, Ventura County Waterworks District
No. 79, Green Valley Lake A.D. 74-1 Victorville Sanitary Dist. , A.D. No. 751
San Bruno, City of Vista Sanitation District
San Buenaventura, City of Waterwood Municipal Utility Dist. , Texas
San Carlos, City of Watsonville, City of
San Carlos, City of, Municipal Sewer Weaverville Sanitary District
District No. 1 West Orange County Sewer System, Florida
San Diego, City of Western Recreational Communities
San Diego County Wildwood Sanitary District
San Francisco Bay-Delta Water Quality Williams, City of
Control Program Willits, City of
San Francisco, City and County Woodland, City of
San Jose, City of Yountville Sanitation District
Yuba City, City of
VICTOR T . SUBBOTIN, VICE PRESIDENT
EDUCATION Stanford University, BSCE 1955
University of California, Graduate Studies
REGISTRATION Registered Professional Engineer California
(Industrial Engineering & Traffic Engineering)
AFFILIATION Institute of Transportation Engineers
American Institute of Industrial Engineers
Transit Finance Task Force - Bay Area Council
PROFESSIONAL Mr. Subbotin has over twenty years` extensive experi-
EXPERIENCE ence in consulting, engineering, planning, and compre-
hensive economic feasibility and financing studies . Proj-
ects have included determination of present and future
needs for many major facilities and the preparation of
master plans and implementation programs involving
regional sewerage systems, water systems, solid
waste, mass transit, bridges and highways, urban
and recreational land development, terminals and
parking, and airport and harbor developments .
Participation in a wide variety of projects includes
programs for state agencies, counties, cities, water
districts, sanitary districts, school districts, park-
ing authorities and joint powers agencies . He was
project manager on over forty projects which identi-
fied the acceptable institutional plans and financing
plans for implementation and revenue programs in
support of obtaining state and federal clean water
grants. He has assisted public agencies in the ac-
quisition of private water systems and obtaining
federal and state low interest loan participation.
He has successfully completed financing plans,
revenue programs and the marketing of over
$250,000,000 of general obligation, revenue, as-
sessment, lease-revenue and non-profit corporation
bonds for various public agencies . His continuous
work with federal, state, and local governments has
afforded Mr. Subbotin extensive experience with
capital financing requirements for public entities.
JANET E. HAWKINS ASSISTANT STAFF CONSULTANT
EDUCATION San Francisco State University, BA
Santa Clara University, Graduate Studies
PROFESSIONAL
EXPERIENCE Ms. Hawkins' prior experience in the fields of technical
publications, computer services and educational research
contributes substantially to her current work with Stone &
Youngberg. Education and work assignments in cities
throughout California and in Anchorage, Alaska provide
Ms . Hawkins with an understanding of the unique demo-
graphic conditions which influence community development
in these regions . Her current responsibilities include
research and preparation of bond sale prospectuses and
and the coordination of technical and support services
for the firm's varied financing projects. Since joining the
firm in 1978 Ms . Hawkins has participated in numerous
projects which included assisting public agencies with
special assessment financing, obtaining state and federal
grant/loan participation, school financing and implementing
water revenue programs .
�6
CONTRACT EMPLOYING FINANCING CONSULTANT
THIS AGREEMENT, made this day of , 1980, by and be-
tween the TRUCKEE-DONNER PUBLIC UTILITY DISTRICT, Nevada County, Califor-
nia, a District duly organized under the laws of the State of California (hereinafter
called "District") , party of the first part, and STONE & YOUNGBERG MUNICIPAL
FINANCING CONSULTANTS; INC. , Suite 2750, One California Street, San Francisco,
California, a corporation (hereinafter called "Consultant") , party of the second part:
WITNESSETH:
WHEREAS, District is in the process of undertaking a water system capital im-
provement program that may be financed through surplus operating revenues and
long term debt instruments; and
WHEREAS, District further desires to investigate financing opportunities and
restraints and conduct a revenue bond authorization measure to provide such
services; and
WHEREAS, District further desires to investigate and utilize the municipal loan
program administered by the Farmers Home Administration, U. S. Department of
Agriculture; and
WHEREAS, the preparation and execution of such an election and financing plan
requires certain studies, analyses and recommendations to be made by persons
qualified by training and experience to do so; and
WHEREAS, District deems it to be in its best interests to employ the services of
a financing consultant to advise on the planning of the election and to assist in the
marketing of debt instruments that may be authorized at the lowest practicable inter-
est cost; and
_l_
WHEREAS, Consultant represents that it is skilled in making studies and analyses
described in this contract and represents that it is qualified by training and experience
to perform the work hereinbelow set forth;
NOW, THEREFORE, it is mutually agreed as follows, to wit:
District hereby employs Consultant and Consultant hereby accepts such employ-
ment to perform the services, upon the terms, subject to the conditions and in con-
sideration of payments as hereinafter set forth:
1. Assemble, review and analyze available legal, financial, engineering
and other relevant data and information which may have a bearing on
the proposed municipal program.
2. Based on the foregoing analysis , submit to District a letter report which
in addition to other information, discusses the following:
A general review and description of the proposed improvement
program, discussion of financing mechanisms and their oppor-
tunities and restraints, the estimated capital and annual mainte-
nance and operation costs , recommend principal amount of bonds
to be authorized at an election and other pertinent information
based primarily on data and information to be supplied by the
District, engineering consultants and obtained by Stone & Young-
berg Municipal Financing Consultants, Inc.
3. Recommendations as to tentative debt amortization schedules, estimated
interest rates , application of revenues and other pertinent details re-
lating to the indebtedness that may be incurred to provide necessary physical
facilities .
4. During the entire course of employment hereunder Consultant shall be
available at reasonable times for consultation and advice relating to the
financial aspects of the contemplated financing program.
BOND ELECTION SERVICES
S. In the event a bond election is required in connection with the method
of financing approved by District, Consultant shall assist in the prepara-
tion of the ballot argument, tax rate statement and other information prescribed
by statute; prepare the text of a condensed.factual-statement describing the
project, explaining the need therefor, the benefits to be derived therefrom, the
costs thereof, and the effect of such costs on typical users and taxpayers, or
others who may be affected thereby, which statement may be reproduced and
distributed to voters in advance of the election. Appear at a reasonable number
of public meetings to explain the financial aspects of the program and provide
factual information regarding the project and the financial program.
-2-
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DEBT MARKETING SERVICES
6. In connection with the issuance of bonds or other evidences of indebted-
ness authorized at an election or otherwise, to finance the project costs,
Consultant shall recommend to District the exact terms and conditions under
which debt is to be issued and sold, including timing and method of sale, final
amortization or repayment schedules, call and redemption features, sinking
fund requirements, application of revenues and other technical details .
Assist the District in the preparation, submittal and processing of necessary
applications for the purpose of obtaining United States Department of Agricul-
ture, Farmers Home Administration loan participation at terms and conditions
advantageous to the District.
7. Assist District's bond counsel in drafting the necessary resolution of
issuance and notice of sale to insure inclusion of recommended debt re-
payment terms and conditions in said legal documents .
8. At the time of opening of bids for the bonds, Consultant shall verify for
District the interest cost computation on all bids received, the conformity
of each bid with the terms and conditions of sale of the bonds and such other
facts as the District may request.
9. Consultant will coordinate action of the District, bond counsel, bond
printer, and successful bidder in connection with the bond delivery
and receipt of proceeds from the sale of the bonds .
10. During the entire course of employment hereunder, Consultant shall be
available at reasonable times for consultation and advice relating to the
financial aspects of the contemplated improvement program.
PAYMENT FOR SERVICES
11. For the services to be rendered by Consultant, the following fee schedule
shall apply:
(a) For those services to be performed under Items 1 through 5, a
sum equal to $50 per hour for staff financing consultant's time
expended on consulting services provided to District, to become due
and payable upon submission by Consultant of monthly invoices; pro-
vided that the aggregate charges for such services under this Paragraph
11 (a) shall not exceed the total amount of $3,000 unless authorized in
writing by District.
(b) For those services to be performed under Items 6 through 10, a
sum to become payable upon and subject to delivery of securi-
ties and the receipt of proceeds to finance all or a part of the District's
share of project costs in an amount equal to one and one-half percent
(1-1/20) of the financing; provided, however, that the minimum fee
due Consultant for each individual sale of securities shall be $7,500. .
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COOPERATION OF DISTRICT
12. District agrees to cooperate with Consultant and assist representatives of
Consultant in every reasonable way to the end that Consultant may obtain,
in a timely manner, all information and data required to diligently perform the
services described above.
OTHER CONSIDERATIONS
13. Consultant is employed hereunder to render a professional service within
the scope of its training and experience as a municipal financing consultant
and any payments made to it are compensation solely for such service and advice.
Outside of its normal office overhead and traveling costs to and from its San Fran-
cisco office and District to perform the services contracted for, Consultant is not
responsible for and shall not be held liable for any other expense or expenditure
of any kind, including the following:
(a) Any and all legal, architectural or engineering expense of any
kind whatever.
(b) Any and all expense in connection with hearings, proceedings
and due issuance of bonds.
(c) Any printing, advertising, publicity and distribution of such
material or data as District may wish to have prepared in connec-
tion with Consultant's services except such written information concern-
ing the proposed financing program as may be required to advise Dis-
trict of Consultant's recommendations .
14. Consultant would be permitted to carry on its usual business activities
including the performance of other additional services for District, should
it so desire such additional services, and to perform similar services for other
cities, districts, or public entities .
15. In the event no bonds are issued because the project is cancelled or post-
poned indefinitely, either because of a negative bond election or otherwise,
and the project is later reactivated in whole or in part, this agreement will con-
tinue in effect for a period of five years from the date of the band election or the
official date of cancellation or postponement.
IN WITNESS WHEREOF, said DISTRICT, party of the first part, has caused these
presents to be properlyexecuted, and said CONSULTANT, party of the second part
has caused these presents to be executed by one of its officers, as of the date herein-
above set forth.
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
By . . . . . .
STONE & YOUNGBERG
Municipal Financing Consultants, Inc.
By
Victor T. Subbotin, Vice President
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