HomeMy WebLinkAboutRES 1939-19 - Board i
1 RESt7DUT'I!il'1 NO.
2
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3 �) f1�Ilsf rn he l�oRA of Directors o�; Truckee Public Utility
4 !� Lra7t4 9, ostirnted and considered , and now finds, that, in
5 + ',p u, —ient, of r-nid Board it is for the best interests of said
6 uirtrict to rc ;.aire, own, operate, control and use all of the
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7 ~ronprty <,Q asspts of the McGlashan Wester Company, save and ex--
8 ! ce t, the ct"Sh in ""?and and accounts receivable of said Company; and
9 MAAS, the Hoard of Directors of said District As
10 solicited for offers for Pale to the District, of the existing
11 wirks of AcGlaa.shan Water Comp d
12 r„t~},T;Fr" 0 =n offer her been received by said District from
Vat Vater Avan-,uiy f°or the sale to said District of all the
14 tTonnrt,7 n,nd a,c setrw of `nGl ac3han linter COMM AY , My and Me"lt,
15 its cps i am hand and Hecounfs receivables and
16 HII;MS, the Board of Directors *a , .' a� Ol c Utili.i
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17 District has, caused to be nreraared plans an t m tes of the
la f-o ,t, Y Vhp oriaina4 construction and conluletlon by said �
19 _ r, trict of works wl Alar to the works of McCl,a han Water Corn-
21 I .TT FAS, said nlans and estimates are now on file with
22 ssit District„ and
23 ,>HEFFAS' said District has caueed to be preraared estimates
24 of tho ^cvonue that can be exnect,ect to be derived from the
25 jn&s of ., anja,'sban vaa .er l"a°rnanv to be
acquired 7v said District
26 nd
27 r . : : e.a, said District has also caused to be prPne r eca Fn
28t! of the r'eVennos that can bas expected to A der':Lycc from
29 t , , ;,u??lic utilities ,of raid District;
30 Intl;, , aI- EY.?II' PY, it is hereby determined t,h,°at, the -iblic
31 1t,r-eyt, of .'r't]f'kpq fads) is Utility Dist ic"t, demands the £as"auisi-
32 t,ion bv ; a, iaa Dirt,rict, of all of the property and work. of
HAM13ERLAIN
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N wGAL11FORNIA
1 Aualashan Water Nanany , save and except e cash on hand and
2 accounts receivable of IcGlashan Mer Company , and the :board
3 of Directors of said District further determines that the offer
4 for Le of LIP -roporty c.aTAC,1 ` arks of the McGl0slan Water Co --
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5 qnny , exc'e,)t casi on hand and account` receivable , is fair and
6 , e;a. „ hin and is not, c irnrorrartion<ate to the value thereof, and.
q that, thn nnnt of sQ6 ,-,ropert;7 to be so acquired is less than the
g c A<:,+ n-� orininnl croistrruct ton of works similar to those to be
9 acon lred by the District from the MaGlashan Water Comnany , and
10 t0 Dowrd of Lirecry ors of said ;District further finds that the
11 nort of the ace uisition of said property and works can be paid
12 fro—i the revenues derived from the nublic utilities of said
13 District, and that it is nit necessary to incur Puy handed in-
z debtedness of snici Astric t for the accluisiti,7n of saic p ronerty
15 ca1 ' .`CATkv of AcAla:han bolter Company ;
7.6 iiow, therefore, BE IT RESOLVED tbat all stens necessaar
17 ,,r ")7-nnpj7 to 're taken to acquire all of the assets and Dropert,f
18 n.° fly icGl.ras "aaan hater Company , sage and except its cash on hand '..
19 and accounts receivable , shall be taken by the officers and
20 dircators of this District; and
21 BY IT FUMTHE T F;SAVE1 tee t, the purchase price ! the
22 ogert,=y arzrl 'corks to be acquired by Truckee Public: Utility
23 -tstrict fron McGlashan Water Company is the scam of Fifteen
24 Thousand ( 15, 000. 00) .Dollars, Le al tender of the United Dtaat.es; ''
25 th'' said n1rchase price is to be raid a follows: The sum o
26 `T' -olve Thousand five hundred ( 12 , 500. 00) Dollars in cash, and
27 V,c, Pur,, of Tive,,,lti!-f.,.i.ve Andred Ala290. 00) Dollars by the exten-
28 ) si•> i of t, ,e AM by the strict to those stockholders of
29 . awas4an crater Comnaray who bave elected to avail theincetvas of
30 tle nrivi Legn as to one or more of the s here held b7 such stock--
31 holder in AcGl.a haan 'Water ' Comnany or thO ri#ht to receive , free
32 rrf r , a r�7e , for a+ r f,ri od of :fifty ( 50) months from the 600 0 of
L. CHAMBERLAIN
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+BURN, CALIFORNIA
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1 I s<le to said District of said AcGlasban Water Company VrOnerty
2 Fnn ,, jrKs, cat a Doint. on District' s pipeline nearest to aa.
3 desinnated nror erty K the Town of Truckee, for use on said
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4 "roWrty , a quantity of water for which said District would
5 Sarre rt it:a eatabli"'l'.ed rate, in the absence of such agreement .
6 t'ie sum of 0. 00 Baer month; provided, that said right shall not
7 be extended as to more than fifty ( 50) shares of McGlashan
a meter stock; and
9 PS IT FURTT- O l r'St LVED that the sum of Seventy-five
10 Aundr c d OF7500. 00) Dollars of the rurchase price shall. be
11 borrowed from the Bent of America , National Trust & SavinPs
12 #':s oc°iation , or such other bank, banking oration, corpora-
13 t, ! ,n , individual or individuals , as shall be waillinq to loan said.
14 sum to the District at a rate of interest of not to exceed
15 five ( 5j) rer cent rrer annum, and wire scam of Seventy-five
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17 mu .rteri , semi-annual or annual insta"HWASAgIregating not
18 less than the sum of Fifteen Handred (61500.00) Dollars On any
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19 one -ear; and
20 BE IT FIilTIAFh rFS01,YED that Five Thousand {°)SOM =
21 Dollars of the purchase Price of the property and works to be
22 zciuired from MKInshan 'eater Company shall be paid from the
23 funds of the District, now on hand.
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T. L. CHAM13ERLAI F1
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AUBURN, GALIFORNIA