HomeMy WebLinkAboutRES 1963-12 - Board -RESOLUTION NO* 6312
of
TRUCKEE PUBLIC UTILITY DISTRICT
AUTHORIZING THE BORROWING OF MONEY
WHEREAS, it is necessary for said Truckee Public Utility Dis-
trict to expend funds for the erection of certain electric lines and
water main, and
WHEREAS, the Public Utilities Code of the State of California
provides, among other things, for the borrowing of money and
incurring indebtedness, ,
Now THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
TRUCK.EE PUBLIC UTILITY DISTRICT, ag follows s
1. That it is in the best :interests of said District and the
inhabitants and residents thereof that said District barrow funds
to defray the casts and expenses incurred by said District in extend-
ing its electric lines and water mains,
2. That the sutra of $ 35,,00a.00 is necessary to defray said
casts and expenses, as aforesaid, and the borrowing of said amount
3�3 hereby authorized and approved.
3. Said sum shall be borrowed from the Bank of California, N.A.
Auburn, California; interest not to exceed 4% per mum; interest
payable annually = principal due and payable in. equal annual payment
installments, $7 ,500.00 which payment includes interest.
BE IT FURTHER, RESOLVED:
1. Edward N. Aweeka , President of the Board of Directors, and
Francis Longo, Clerk of said Board and General Manager of said District,
be and they are hereby authorized to execute in the name of said
M
District to sa.wu Bank, a promissory note of said District for said
sLin, payable as aforesaid.
2. Copy of this Resolution, duly certified, shall also be
delivered to said Bank.
Passed and adopted this 9th day of October , 1963
by the following vote:
Ayes: Aweeka, McIver, Spillner
Noes: None
Absent: Kaspian
TRUCKEE PUBLIC urnM DISTRICT
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Pre s icdent of the Beard of Directors
ATTEST:
Clerk and ex-of ficio Secretary thereof.
29th day of October
1963,