HomeMy WebLinkAboutRES 1957-08 - Board (5) RESOLUTION NO.,_ f
of
T ;UCKEEE PUBLIC UTILITY (DISTRICT
AUTHORIZING THE BORROWING OF MONEY
I
WHEREAS, it is necessary for said 'Truckee Public Utility Dis-
i-ct: to expend funds for the relocation and improvement of certaiaa
it;s utility Lanes and facilities by reason of State highway con-
zuction , and
WQTRE.AS, the Public utilities Code of the State of ' California
ovi.des , ameny ether things , for the borrowing of money and in-
rring indeb e dness ,
NOW THEREFORE , BE 7T RESOLVED By THE BOARD OF DIRECTORS OF
OCKEE: PUBI.LU UTILITY DISTRICT, as follows :
1 . That it is in the best interests of said District and the
hal i cants and residents thereof that said (District borrow funds
ciefarray Lhe costs and expenses incurred by said District ind`r W-
c:i.on and i:mprovemeot of its utility lines and facilities made
cessary by Stare Highway construction and freeway relocation work
said District
2 . That the sum of $10, 000 . 00 is necessary to defray said cost:
d exp nsees , as aforesaid , and the borrowing of said amount is
reeby authorized and approved .
> . Said sum shall be borrowed from the Bank of America N .T > S . A
nckace Branch , Truckee , California ; interest not to exceed 6 per
num ; interest payrabl_e monthly ; principal due and payable on or
fore May 1 , 1955 .
BE. TT FURTHER RESOLVED :
That H . M. Welch , President of the Board of Directors , and
z',dEaancis , t', u k-moeral Manager of said District , be and they art
jetty LuLhurixe,d ro execute in the name of said Dktrict to staid.
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