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HomeMy WebLinkAboutORD 1968-04 - Board Ordinance No. WHEJMS, Truckee Public Utility District (herein- after called the "District") is a public utility district duly organized and existing under the Public Utility District Act (hereinaft er called the "District Act") , Division 7 of the Public Utilities Code of the State of California, and the C stitution ^and laws of the State of California; and WHEREAS, the District, pursuant to the District Act, now and for some time has owned and opEerated an electric public utility system consisting of electric transmission, distribu- tion and service lines and facilities; and WHEREAS, pursuantto the District Act and to Ordinance No. 64aw0l duly enacted by the board of directors (hereinafter called the "Board of Directors") of the District, at a special meeting held January 27, '1964, the District and the United States of America (hereinafter called the "Government") , act- ing 'through the Administrator of the Rural Electrification Ad- ministration (hereinafter called the "Administrator") , have duly entered into a certain loan contract (hereinafter called the "Loan Contract") , dated as of October 28, 1963, providing for the sale by the District and the purchase by the Govern- ment of a series of the District' s general obligation bonds in an aggregate principal amount of $367,000 to finance the con- struction by the District of certain electric facilities add- ing to the District' s electric system; and WHEREAS, pursuant to the Loan Contract,, the Board of Directors at a special meeting held August 25, 1964, duly adopted Resolution No. 64*46, fixing the terms and conditions of said series of general obligation bonds in an aggregate principal amount of $367,000 and the sale thereof to the Government and providing for the levy of taxes for the payment -1- thereof and for a pledge of the net revenues of said electric system, as from time to time improved, bettered and extended., as further security for the payment thereof, and said series of bonds were thereupon issued, sold and delivered to the Government; and WHEREAS, the District presently desires to borrow an additional amount of not in excess of $115,000 fYaan the Government, acting through the Admini8trator, to be payable over a- period of 35- years at a rate of interest of two per centum per annum, in order to finance certain additional facili- ties adding to the District' s electric syetemn for the purpose of furnishing electric energy to approximately 138 additional consumers,* and WHEREAS, there has been presented to a special meet- ing of the Board of Directors held July 29, 1968, an amendment to the Loan Contract (hereinafter called the "Amendment") , executed on behalf of Goverment by the Administrator, which provides for an additional loan by the Government to the Dis- trict in the mount, for the terms and the rate of interest hereinabove referred to, which additional loan will be evi- denced by the eventual issuance of general obligation bonds of the District to be issued and sold to the Goverrmnent pureu- anC to a resolution to be adopted by the Board of Directors; and WHEREAS, the full faith and credit of the District supported by the District' s takingpowers to the maximum ex- tent provided for by law will be pledged to the payment of such general obligation bonds and such bonds will be secured, equally and ratably with the bonds in an aggregate amount of $3b7,000, heretofore sold to the Goverment, by a pledge of the net revenue of the District' s electric syst as from -2- s 14 i time to time improved, bettered and extended; and WHEREAS, the Board of Directors have found and determined that it is necessary and convenient that the Dis- trict borrow said additional sum of $115,000 upon the terms and conditions specified in the Loan Contract, as amended by the Amendment; and WHEREAS, the Amendment has been read by the secretary of the District to said special meeting of the Board of Directors, held July 29, 1968, and has been considered by the board section by section, and has been approved by counsel for the District; now therefore, BE IT ENACTED BY THE BOARD OF DIRECTORS OF TRUCKEE PUBLIC UTILITY DISTRICT: 1. The. president of the Board of Directors is here- by authorized and empowered to execute the Amendment dated as of June 11, 1968, to the Loan Contract dated as of October 28, 1963, by and between the District and the Gover- t,, acting through the Administrator, and the secretary is directed to - annex the corporate seal of said District to said Amendment. 20 The president of the Board of Directors and the other officers of the District are hereby authorized to perform all acts required to be done by the terms of the Loan Contract, as amended by the Amendment,, and the Board of Directors is specifically authorized to adopt a resolution and take such further action as maq be required in connection with the eventual issuance of the bonds which will evidence the additional loan provided for by the Amendment. 3. The clerk of the District is hereby author- ized and directed to poet and publish this ordinance in accordance with the requirements of the District Act. -3- 4. An order shall be entered in the next meet- ing of the Board of Directors of the District after this ordinance has taken effect that this ordinance has been duly posted and published. a .� Fresldehft of the oar og Dir"bctors of TRUCKEE PUBLIC UTILITY DISTRICT Attest: Secretary • (Seal) HR YPx'!�p�±lgr,W� .-s1.. � ..��9�5!�!'�n:"a�i�� "���� ...✓f+kc J ...... ..vw.,�..�-•••rw..:...+a..�....,.e.wn r_,.r...s.•.e.,_.-..�..�... i w av r..u �4 �+ 1(/A/$} /■(/k �-........ ..,r...w.....a•w. .�P.a.._�. ua•y^I•a.p..a, .' I n rt� �V �.��:/f` t Lwf..Ms..c`Yi"^�.<+a.M•6.:'+.+wAks.afj.�wMeb.yµ�.ayeka�M�wvi.a.a n, 1 '■ .wee+k.��v.+,��s+•,.,>a.w+w,r.�u.�.•w�_.w.ww 3 i V k�•.�• ILA RRR! �4 Jk VIM TO THE SPE 0 r TIN G OP J UZY 29t� 1968 .. •j r� 'X• t S i y A. • 7 t �^7 f+t REA Project Designation: r ,. CALIFORNIAt 44-B TRUCKFE ' 4 k ;t 5 , t F ig k r ANEND NT �f w ti Dated as f Jane 11 .1 68 '• to y, LOAD CONTRACT G f I i Dated as of Octo- ber..:r Obe 28 963 between a TRUCKEE PU BLIC UTILITY DISTRICT and UNITED El TA TES OF ANERICA ;i. j �y f, v I dent if`l ed as form f document presented to by the board o f directors *j M - eesand approved }, corporation at r�a L above � ,�� =ee t ing held � � k �.. f Sear or , t 1 _ (-ti '�'\) •.r , ATE,.� t�PA. �� � � � 'R UPL�ij rELECT l� OF A ��IC niFICATION ADM11VISTRATIODI ik. .i i t { c, }i „,,.,...........�... T.. , ter±' R i AC�RE��MENT made . f -June 11, 1 pursuant to Vie Rural � a ` Flec:tri f:ication Act of 1 6 as emended between TRIJCKE PUBLIC UTTI LITY DISTRICT {hereinafter called the ''Diotri.ct” a pub11C ut i l itJ d 1 strict organized and existing under the Lawsf o t �e State o f California, �,tla UNITED �'rATF,� OF �R�:CA. (here-It Boa�.te r t} g throught he Adm .st cal led the "Governmerit.'' actini.rlir�atf.� • rJ }� t.he 13ur�=�l Electrification Administration. WHEREAS the Governme�.t and the District have heretofore e�r:t;�;A,.1 ce��ta r� lean con tract hereinafter called the "Loan Contract"), rite x zi of October , 196; , providing for a Loan in an amount not ir; excess 4 367)c0)0 by the Government to the District to be effected by the sale by A Distr ct t � the C overnment of a series of the District's general. ►�bl:ivat a ` prICA11 -t..) ivi c e the construction of certain improvements, enlargements, _ex .r.4 aiid betterments of and to the District Existing Facilities , de 'i -Aed i,i the Doan Contract, for the purpose of serving, apprDxim ,te�l.y add it i., )ri .1. consumers• and w WHEREAS, the District, pursuant to the terms 'of .the L%oan Contract:, . s issued and. the Government has purchased a series of the District's gerie.r•-al. ..r i.. ligation bends in an aggregate principal amount of $367,,000; and WHEREAS, the District has applied to the Government for an add.*t if.rr a .n amount in excess of $115,000, to be effected by the sa.ie t... is t,-i�t to t�►e Government of an additional series of the District- s. gerie ra ii�at,ioii L)cjn1 ,.Alti l i-i an aggregate principal amount of $'115,000 to finance the nstruct i:: n of certain additional improvements, enlargements, extensions arid k tte et s-t.s o t' and to said "Existing Facilities" for the purpose of t f irrEt �� ! _�8 additional consumers and the Government is willing to make p f �.. r uch oan upon the terms and conditions provided .in the Loan C ont.rac tl, effle ride d die re l.)y o S ClOW, THEREFORE, .for and in consideration of the mutual agreement , re }r ,a ned the Government and the District agree as follows: : ¢f' ► F CT 1 CAN 1. The term "Loan" wherever used .in the Loan Contract, as nded he re-by, shall, be deemed to mean! the Loan provided for in the Loam ntrac:t, rt creased hereby. .'.Yi i •, '; Sections 1 and 2 of article 1 of the Loan Contract arr- a 11(lea re. iW z as follows* SECTION 1. For the purpose of furnishing electric e­,erf'­%t t fs in rural areas �zot receiving central station electric, (-_zhal.i issue and sell to the Government, and the Government •..{1 i)i:1 vi-iia-e from the District at the par value thereof, subject t(.) r .' t•f�; ._. i c)i accrued interest hereinafter provided d d � . �,. It i e for in see �•+.�.r:� .e -1 hereof, genera: obll_7 gat ion bonds of the District (herein- 11-Ullectively caned the "Bonds„) in an aggregate principal amount �`:��. rt F�XCes.�_7 O f $4612 coo to f�i tiance pursuant to the rov�is ions o f W. �► s � p p t.,he Act, tale construction of certain improvements, enlargements, extens )ris, betterments and additions of and to the Existing it it ier:� (said improvements, enlargements extensions, betterments and additions being hereinafter called the "Project", and the Existing Facilities, r improved, enlarged, exterid.ed, bettered and added to by the Project C r• (Aherw lse being here.inal"ter collectively called the "System"), trie ►�yst�,ein to be located i�i the C purity of Nevada, and in counties cont.i jj uc--)w-.. the t #�.e �.:�t.' . . ie.r� tc� •-�1, .., California Le Bon .w. .lr: ��1. 1.�/1 + Y t. f .*��4 �.c,.r ' .�l �.a r , JAJ t i( i 'fir / ��" +*f"`]��] ]��"`� �` ,j 1\' +t 1 •1. ♦ 1 t � \ l i is i r i l ?t 'r J, 1J hc� L/i.ft+ �J t ' iY l ".i J iI l is..� ems`f.J�, I.JY I .j ; •..r . . t j` r]l g 1# i i,••'(,+' • ,4 }.1 • ,, t`:..; .. J w-..1' it J r-i cs �.�.i.,�.e3�' t ' b�r�r i`�.I.0� 47.1-r S t �� ! �.� r -st ,_. r �, rld (y�r/- 7yy j )e ��r.{y} '{( `y } {j(y arid /•�9 the �+' /�'.� r i `- _.S'...�t'l.. l• .. a!., i.r i �•i i l V i J• 1.`•.i V.. +...� �.../ _ • !`,/\.✓ S.A!i "...R \j 1 'i,.• w.:.J�y�..I ��.�..1. �� ,x Z t . °t (tier � 111E ll't' caked tyl ' ``' ''�i ' r� i ` C ol i d B r r� yr y� ipaiamour. }}�r r { • CCU. Ali -bcorci each Serfe� 01 the BoridS Serie,.]. BoAs") #jn(j synall, bt, shall .1 n exc s oC �jj or some n y y �y y C', tw(, [)e-r cet _ ear 1 Year. Eacji e rie 3 Ma vembe r r k> de -,i py'(}ter r/ "�S! {) w�. `r+ A r. _._ 1 • `...�` 1 • "� �.s.i j t I r i-robe r�. jF3t La i �. .i: +t merit, date t r `. -Imp ♦�' 1 • .'. t�i next �^n,� T�rr ;' `',�- ♦ �w_Pt,1+S L 1..r.:.r�n,.•- �� :s t i e ilr 4..►♦. i i.+{`1I� '.i F.MAY r �} �" .- e of , .' e accordance . 110M t 1-Ie ir catthee r _ _ 1 .�t I r i s E.I. be i n f e.)rm �: 71T 4 .. the .�-�.dm Lr�i trat.or t��,i1d s � � �� . 'ti e t o ran o nd s , w tie r yr i�• rr 1 tL_l.v �:'{ti r S ^r j♦ r r -1 T' r•I d \,#. k t: r•• • r i.. I', r *. fi r,. .i i r �� y v� ;: "�1'f '` s 1 is:.i-s t rat Or if+ v his!+;�v }r�y Lric .ude the r, t � yr •h .� r-4 ,`7 r 1 r A•a ►1+•^ a.�� 2 `e r.Jw e s Bonds* S 5 5 f M1• �r of ar.t iele I o r th ,�.� ,:. • f secti z��C. The first, ��,, game:nded .,o read • i p`�°r'iU'tram: :� r �� f�`..1.�. e s pi r s ua t ;ca fi r. T r 5 hacn Se.. called Bond le t1vel Coii (n e r e i na L �, Vr e1oiu Board of Directors in cnfo�w tY � e adopted �Y the i-ts V,z,tl tjjtjQ1,, ar'id y �T of } State of California) and shah � �- �, - ?.� azlC ' �. �cto to the Admi i tra'���'. Ut'ierw •�,E_ bt... 'in f � ��.r�c� E l o f� the Loaf f i C� .section. of artiele SEC. The first sentencet �[�A, .` ii� t�hrr4/ [►+1E try .�rl thfrome f'ou.rt�� line .`� +E�♦ i l, ,,.� *,/i �.>,1'. b 1 t rt l 4.w 4+t1..)u i t ref�erred ...+ �� the Bc.atids 1 3 7 t OOP t() V a:i E 3 is r .i v i{ r it 'i I 4 n' L Y ] F y F �S 4 f � " g I-. f 5'1 4. l f�"• 9 E� •ki N' T t t. try t • S` a r A h' III I�III • 4a'- 7�qqfv �A fii ,l. jc '1 .... �'i; .--.-. ..:.,....-:.�., ..,...... �..v•.•,;.,.,H..-r?_.t.>,e,c.:.:.v�r:.,.-r.-r.r,:cr+rv4vY•r.:.,+±�:r-k+a.•.gw.i5'A''na+.:°[.t�art_�-.•sue...-. .,.. - Jla �. .�. Articie iI of the moan Contract is further hereto twc� V.ew sect ic�ns Horn amended h;Y adding numbered and reading, respect v p ely, as fc).L.1,c)w., S"C. 10. The District covenants and agrees that it Will not) witho•at the approval of the Aden ' _ Administrator, submit a requisition for � c�.��.�`��i�C t of a fund v on �{. the any account of the Loan, nor use any funds adva c f:. account o:� the a n .i on Lon to reimburse its general. funds at an . r , y t irne o r t i m..► ~' t the ��.Ir.Ol.lnt Of its general funds either exceeds fifteen toL��l n percent of •�t� or would exceed fifteon percent of its tot r ,f• u1' Lfic iriLer dud use: o1' such za , plant a a rr b�.11t F dvr.�nc�. to reirnburue its eeneral fundil., Low�� t� iz�, contained �n thisnare m�nt, the Ooverrunent ^j,41 l not f b ohii�.�{lt• d a� 1�,ny tiir�e ter r t um s to make. an adv nce on ac coon�, o�' - �� •. c�-�' the District� � , .. ' such t���. T.,o�.r1 if s cent,z al fundr; at :such time or timc� ,• .L` ,�.'CI�1 percent o1' it total �, r * • s e .l.h ,r c.�;cc c,cis .: plant., or would exceed. fifteen er . i . t� ,��. ,� c�..r t a a. it(*., 3>� �J.L �I1� a a result of the intended uye of such o.d � . District's cTene rat. f ,:.. , Inc a to re�.r,�b uru�� �t,h.c: , unds. As used in this section; (EL) "general the ti.ena fund: �a�: .ns the s of the foil ., , ,, owing accounts of the District: "��anuti.lit 1 z op rty less Accumulated Provision for Depreciation y p eci.�.tion and A�nort�.�.�tti ion ut�.�.i ty Property,, Other Tnve s tment s an o in Associated Organizatiaz��s t� "Other invu;t:rncnt, f "Restricted Funds" " as .. �t ' �. (b) , Cash General , "Working Funds and "Tema*a �i 2 Investments"tment s and „ Tem s' the term total �y, " �, xo nt means the L> o.. a the following accounts of the Dist rict:; tf��CfiY'3,c Plant �11 Service" rr'�, �, �� �, ervice , Electric Plant Purchased or sold , Electric Plant �� . f Leased to Others ,� Electr*c plant Held. for Future Use , "Completed ,f p Construction not Classified construction Work �.n Progress" "Electric �► ruetZon ; Plant Acquisition Ad tment " �� m.�. � s and other Utility P13nt 1 i ales of accounts used in t he foregoing definitions shall have mean�.r.�;s set forth in the Prevailing ve the p ing system of accounts Prescribed ` e�.ec t ric borrowers � for its rro ers by the Rural Electrification Administrat o {. i n, and such accounts shall be those which relate to the systems, ~z,C Iotwith . I1. .�^ a.)�,., • tanding anything contained cove �: r. s1l�l�. in this ag 'e :ment to not be obligs,ted to adva e� tle �uar� (other nee to the District an i'unds tr1�I� fu�1Cf oln, aCCOtal : hitherto the rto app rove d b the -: e�ccpt �i� accordance with a �' �. Administrator for ud,v��,r� schedule coverin r co Districtts a construction, and .- n�,ra-1 funds and Loan funtherefor., , the use of the . s which shall. eve been sub ' t _ ray u,�e District and approved u,i t g .. FP ed in wr#tine by the Administrator, tea 1 ,h4��..� r�:�.�.ec t the o�.ic istrator. Such schedule p y of .scheduling construction • ry in confo x�aaance wth current ���lr.+.vLi.7 �I,� a rrent o written a rove - y� wit', the w ae time to ti-M pp l of the Ac a.ni,strator e• To the extent that be ;v such schedule, a,, it , ar .. . tr. . �,:��x or find, advance o f funds on account .Y e amended! k © .i�'.c.� =pE�cit'i :d in section of the Loan be ond, the (� �.�( •?.. n • • �t+o'n � of art�C�e �,� �+ �`' � ��r�o+irl► . .�.11 �a.i .�C.�i a�� lj,� 4 hereof the of • o hall b e accordingly rc�.l n www��� time ,spec i s• • .y exte ndec Ad t <' ;_'r1 �` .�. funds r f td '�.•;�..:��� aused for Advances of Loan ur to - r core �truction hall be rid ;^ L:ur tki,� determined rmined that the r e Or�.y after ��dmin�- { Districts financia„1„ r :� '�: ,we x� pie am' and ope ra t in condition • �urseinent, The auLhorit g on .�.ti,on � y granted to uo j� to wit the Covernmen t or withhold advances of Loan she f � funds U"� L� date t" , Pursuant '�(� this f�k':�'t�.ol'I c' ,rt nr�.e gears after the dais � 1..�. cro Of the agreement between Vt.:.t'T4:�►�;°:.A� a,id tit District whl the �� �. � ch initZal,ly 1nco rat or o l,,,�r Curlier termination ed the foxegaing rovi.sao date designated .by t P ns, he y �� �d�►in�.strstc�r if, •�. determines Such earlier tox� �ry1`� warranted,, in his'<k 4 ination date is 4` .SEC. 6. Article IN of the .Loan Contract is amended and reads •n�numberedby add�r�g thert,r., . reading as follows; . ►.; ,{ The District sha * a�L �-1, with respect to generation : , ��n,Y, which may be part � g nation 1 .q- _ = �r,�•ti���, , r ^ o the system, com 1 with Y ..id air pc __ rOri �_,c)r ,rc -� Standards t �, �_ Imposed by to t;es or re;,rillat I ores. SEC* �. This a greement may be simultaneously executed and deliver • each of which so executed delivered in on ' and delivered an original, and all shall constituteeyed shall be deemed but one and the same instrument. y Y, Pl; .y t. t „f i f k. tl. i.f a, IN WI i IN E,S D W I D1 3�'`O , the District ���, causcA this a; reemerit to be ,+# :z • i t r lame and on its behalf by the s i nat i.ire •o f the i re s ide rat ; ) •� 1i �^�, ♦ /'�"`1A / y(y�(�'�` 3 T1! tip if ''7F/p��'+� ��f��,n :!«^���rf"`;/�s^�j /��+(+�, ♦ „� a. I{"�+"�F+� `a J lln ,t•� f Y•^ 4W.eY ,I! t�!,!- -,...• `w,f�4.a 1v i �'•'�'L t+A.�L!_d1 '�J&� 1 f, 4,<.F V l!.P r R►. a i.A+..a a' t�•.r h..�t��JF �'• ��; Tf iti rr r' I"' Yy • ✓ y _ , *,•ti `_� T•},••. 4 a ��_.j. o♦i t i ee Di s t.r i t.r.�'# 'S.•�w 1F.: .. .i_A._�� t 6e..� Al.01' �' ,�,ti' r L .t.', • �.4 .... +. :,..' qP,..►."�..,..`.�y._ �t..►,l.a a s l J.\.. !• 9 _. M. .�. .. r *. ,t. .r• �• *,yP 4~ .. s. �fr. AW y, r 41 `a rr'"" Y.A d,.r,.. .r wr......�'+ �...w.w+. �..-.s. •..�� �,r r...... .r.. �.-•#.w +.'0 ". w _ f� �� IIIYYYI ..a by v ,,,.,,,. ' t of its Board of Directors Preside Clerk, TRUCKEE PUBLIC Url r Ki �f e z'e t ary ,tr ti j14 I TED 1EITATES OF AME RI C A. Y „, • r O Administrator G •�,��„ ter.•�► * .• of ._. Rural Electrification Administ'rat i(wl �t,r 2 • :u �h t; N r Ili i �Y aY� f ,S.r • 1- F t rf t i. i�'�`.��..• 6.,��� �..�A,i• - _. �` ilk. f ss r F� i w w f K, �tt x. s�'•I r y-. f' h FF �' rV hy� S�3: C r ANATNEEXED TO ' THE SPECIAL MEET1J3r OF JULy 290 196daft WAIVER OF NOTICE We, the members of the Board of Directors of Truckee Public Utility District (hereinaf ter called the "District") waive all notice of the time, place and po ur se P of a special meeting of said Board of Directors and fix Main Street, in the c t Y of Truckee, State of California as the place, and the 29th day of July, 1968, at 8*00 o'clock, .` P• Me . as the time for the holding of such meeting for the purpose of acting upon; � 1• The authorization of the execution of an, res_ m+ent, amending the loan contract with United Staten of America (hereinafter called the "Government") , acting throagh the Administrator of the Rural Electrificatio� A�ninistratioaa and providing, mno�ng other t for an additLouai loan of not to exceed $115 90a to f4 construction of certain imorovements �nclarge" ts, extensions bettermentsa to the exis ting e ectric s pstems of the District 4 for the purpose of furnishi�,g electric energy 8y to approximately 138 additional constmrs, such loan to be financed with the�3 as issue of general obi ig sties bonds of proceeds 4A District, payable serially, secured by the Pledge of the full faith and credit of the Die trict supported by its power to levy and collect taxes to the maximum extent prea�uCly providedh by law and additionally 8ecured by t pledge of the net revenues of certain electric facilities of the District. r 2. The adoptions of an Ordiasnce for the execution and delivery of said �nendment to loan contract and the tak quir ed by 1� of such actias may be re- in connection with the adoption of said Ordinance. 3• Approval of an "Addends to Electric Service Agreement amending the agreement dated March 1, . 1967 for the acquisi tion of the Donner Lake eiectric properties. 4. Acceptance of quitclaim deed from Sierra Pacific Power Company to this district dated July 26, 1968, of the Donner Lake electric properties. ` 5• Approval of an agre ent with Sierra Pacific Power Company for the transfer by the Company j: IJ t. z. w (r Yr� problem of supp-Ly stated with the improvement recommau._ shown in his firms report the District customers ���_ ti d .v+ t:. I� �d to the District of certain land rights ino connection ti on with the properties Lie electric IN WITNESS WH M OF we have here to get our ha s 29 day f July, 1968, r s} -00 %avow' �2 A".00 Or pip lK�J II tt�Ei- a't�; Fa �wrww tg � d 14 z �rw t e r AA CA } e m ears o oard o rec - +� 'r uckee FblicUtilityors Dis rict ........... P, P `v t .i'Y.,. E zs'r �u. �r PY i fi•, tAj ...It 1 S.a. 1 �_ t� IL i 1 w 2 („y }t= I I�I 0 a �2 0* Ar ji Ob t. �y 1 i` try �11 { lOm f $t ed with t n in his f F.,. a f 9