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RESOLUTION NO, 77 38
OF
TRUCKEE-DOIti NER PUBLIC UTILITY DISTRICT
ESTABLISHING INTEREST TO BE PAID
ON CUSTOMER DEPOSITS AND CHARGES
To BE ASSESSED ON LATE PAYMENTS
WHEREAS, it is the desire of the Board of Directors
of the Truckee-Donner Public Utility District to establish
an interest rate to be paid on certain cust9 p mer deposits;
and
WHEREAS, it is also desirable to establish late
charges to be assessed on delinquent payments ,
Now, THEREFORE, BE IT RESOLVED by the Board of Directors
of the Truckee-Donner Public Utility District as follows:
1. That interest computed at the annual
rate of f ive percent (5%) shall be
paid on customer deposits when the
monthly payments have been paid within
thirty (30) days from the date of mailing
of the statements. Interest shall not be
paid when the customer has been greater
than thirty (30) days late on more than
one statement during the deposit period.
2 . Late charges computed at the annual rate
of ten percent (10%) shall be added to
all customer bills which are unpaid after
the expiration of sixf
( days from
the date of mailing. �—
Passed and adopted by the Board of Directors of the
Truckee-Donner Public Utility District, at a regular
meeting thereof duly called and held in the District on
the 3rd day of October 1977 , by the following roll
call vote
AYES: R. Huber J. Maass ,
K. Kuttel , P. Sutton
NOES: ---
ABSENT: --
TRUCKEE--DONNER PUBLIC UTILITY
DISTRICT
y
PAT 5 TON
ATTEST: President
erk Thereof K L