HomeMy WebLinkAboutORD 1939-19 - Board (2) i
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1 OI RIN RACE NO.
2 I', AN 011NANCF DETERMINING THAT THE PUBT& T"S""EFFST
aND NECESSITY DEMAND TQ AC`UtSITTON BY TRUCKEE
3 I, PUBlJC 9T'ILITY DISTRICT OF A PUBLIC UTII>ITY TO-iallT,
i� TTI teGL«a�"H N WATER CUMPANY WORKS FOR SU:fPUTl�
&PII'IuAA 4 11'0 TO THE INBABTTANTS OF TRUCKEE
i UB1,CC UTILITY DISTRICT AND DETERMINING TO ACQUIFE
5 II 1 ,1, 'TFT, IT ROPEF Y AND A SEMS OF McGLASHAN WATER 'COM-
PANY S1 VE AND EXCEPT ITS CASH ON HAND AND ACCOUNTS'
6 RECAVAILE FIXING THE PURCHASE PRICE OF SAID PUBLIC
UTI1,ITY ANT THE METHOD AND MANNER OF PAYMENT OF SAID
7 PURCHASE t RICE AND PROVIDING FOR A QAN 0) SAIL
DC`,TRIGAP OF 771 SUM OF 7500e00 AT A RATE OF INTEFa;ST
8 ( OF Q6T TO F,aCCEE 5 PER CENT PEE ANNUM AND FUR THE
aiPAP)I) AND APANE1 OF REPAYMENT OF SAIL LO0 OF
9 75OO. 00.
10
11 BE IT ENACTED by the Board of Directors of Truckee Public
12 Utility Listrict;
13 Section 1. WHEREAS , the nublic interest end ;necessity
14 of Truckee Public Utility District require the in cciuisition by
15 lr"uc'cee Public Utility District of a certain Public utility , to-
16 spit. , a pvstea for Qrnialdn# 1"" t ' `n. .:.
17 the inhabitants of Truckee Public U010 ;district; and
18 Section 2> WHEREkS, this Board of Directors has d.eter-
19 Mi,upc. thaat, the iaubl,i. c interest and necessity of said District
20 re i u ire the acNui sit ion of all of the -a Toperty Rruca we rk u of
21 !cGl ashan water Company , save and except its cash on hand and
22 accounts receivable ; and
23 Section 3. WHEREAS , the Boyd of Directors of Truckee
24 Vubl.ic U00ty District has nrocurec3, d"" ow has on file, plans
25 and y shi a«tes of the coast of oripiunal construction and comnl.etion
2e , ., id Listrict of works similar to the works of wcGl.<ashan Water
27 Go vary to be : cquirid by said District; and
28 6ectioun 4m ',4HEFEAS , t,be board of Directors of paid
20 District !as secured end utaced on file estimates of the revenue
3o tb . t, cu_n he exnected to be derived from said nublin utility and
31 fr i the "ub'lic utilities of said. District; and
32 Section 5 . 'WHEREAS , tine s acid Board of Directors has
%. L. CHAMBERLAIN
wa eu u ar aaHa i, ,..l.n.
%c¢o•....Yu331
AUBURN. CALIFCRNIA
1 solicited fron the owners of A d3l.ashan tinter Company offers for
2 };0a to t hr ;" ; id. District of all of the existi ::r ProDert`rF end.
3 ,,,,;,,, s of Or °aicGlashan 1o;.zter Company , save and except its cash
4 ''and_ sm] accounts receivable ; and.
5 ,j' S ection 6. AFFEAS , an offer has been received by said
e District. froa Mc:Glishan 'eater Company to sell to said District
7 all of the :arorerty , works and assets of McGlashen pater Company ,
8 seve and e.;cent its case on hand and accounts receivable , for the
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9 sun of Fifteen Thousand (015,000. 00) bollars, rayabl.e as hers=in-
10 of"ter ^-rvcified ; and.
11 Section 7. G HEPEAS, the Hoard of Directors of said. Dis-
12 trict has determined that said price o $15,000e00 is lefts than.
13 the cost of original construction by said District of works
14 ,ai-wer to th re Pronoved try be acquired. by said District from
15 ,:'1 G 4e s han water C13Y1nan,I' p" snd
16 Section S
�"i1}{ Iz .,,
17 ��1a,trCA Yeas determined that the naaxcha " be of said property
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18 and works to be so acquired is not disphlAtion to to the value
19 thereof; and
20 Section 9. WBEREAS, the said hoard of Directors has
21 determined that, the coat of the acquisition by said Distract of
22 svi& twnnerty and works can be repaid from revenues derived from
23 said nronertq and works to be so acquired mid from the t)ublic
24 utilities of said District, in addition to the other necessaxrr
25 ey„ MOM if the ptrict; and
26 Fection 10. WrtEtYLAS , snid nurchnseP rise of 815 ,000. 00
27 is t , tie aid as follows: ' The seam of Twelve Thousand Five Hundred
28 invO1. 00) dollars in co-ash noon conveyance to said A.atrict by
29 said .AcRashCan niter Company of all of its assets, nro`art,'•y and
30 works , save and except its cash on hand and accounts receivable,
31 bnd the spun of Twenty-five Hundred ($2500.00) nollars by the
32 ext,ens pan of the right by the District to those stockholders o
L. CHAMBERLAIN
win nN AT An
Tk tk Fuo NaR3�t
AUBURN. CALIFURNIA
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