HomeMy WebLinkAboutRES 1963-12 - Board (4) ' a
1YJSWJY1IVi7 l�(V• 6312
RE-
of
TRUCKEE pusLzc 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 TIiERL'FaRF�, BE IT RESOLVED BY TBE BOARD OF I3 IRECTQRS OF
TRUGKEE PUBLIC UTILITY DISTRICT, .a8 f0110vsa
1 . That it is in the best terests of said District and the
inhabitants and residents thereof that said District borrow funds
to defray the costs and expenses incurred by said District in extend-
ing its electric lines and water mains.
2. That the sum of $ 351, 000..00 is necessary to defray said
costs and expenses, as aforesaid, and the borrowing of said amount
1�3 hereby authorized and approved.
3. Said sum shall be borrowed from the Bank of California, N.A.
Auburn, Californian interest not to exceed 4% per antrum; interest
payable annually ; principal due and payable in. equal annual payment
installments, $7,500.00 which payment includes interest,
BE IT FURTHER RESOLVEDs
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
District to sa�.0 Bank, a promissory note of said District for said
payable as aforesaid.
2e Copy of this Resolution, duly certified, shall also be
delivered to said Hanko
Passed and adopted this 29th day of Uctober , 1963
by the following vote:
Ayes: Aweeka, McIver, Spillner
Noes: None
Absent: Kaspian
TRUCKEE PUBLIC UTILITY DISTRICT
4�2
By G
President of a Board of Director
ATTEST:
Clerk and ex-officio Secretary thereof•
29th day of October
1963,