HomeMy WebLinkAboutRES 1984-17 - Board RESOLUTION NO. 84 17
OF THE.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
AUTHORIZING THE DISTRICT TO REFINANCE THE
GMC LINE TRUCK, UNIT #12, WITH THE
TRUCKEE RIVER BANK
WHEREAS, on June 6, 1983, the Board of Directors of the Truckee Donner
Public Utility District authorized the purchase of a GMC line truck; and
WHEREAS, District staff has researched the availability of alternate
methods of financing for purchase of the line truck, and determined the loan
with Truckee River Bank as entered into on June 17, 1983, to be most favor-
able to the District; and
WHEREAS, the sum of $89,047 is payable on April 1, 1984, to the Truckee
River Bank unless the note is rewritten;
A
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Truckee
Donner Public Utility District as follows:
1. The President of the Board is hereby authorized to ,
execute on behalf of the District loan documents
- with Truckee River Bank in the amount of $89,047,
copies of such documents being attached hereto as
Exhibit "A",
PASSED AND ADOPTED at a regular meeting of the Board of Directors of
the Truckee Donner Public Utility District duly called and held in said
District on the 2nd day of April 1984, by the following roll call
vote:
AYES: Cooley, Corbett, Duffy and Maass.
NOES: None.
ABSENT: Hamilton.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
ra
J&s A. Maass, President
ATTEST:
•
Susan M. Craig, Deputy District Clerk
�� Y
w y
•
��y,04 7.00 _. _ Truckee- California - Aprll 1, 19 84
E r-,alue received,the undersigned promisee%)to pay to TRUCKEE RIVER BANK,or order,at its Truckee
EIGHTY—NINE THOUSAND FOURTY—S EVEN AND no/100
Office the principal sum of _.
3
Dollars in lav►ful phoney cif the United States of America in instalments of
t
{ ONE THQUSAND.e_.NI_NE._.HUND? D.__F'_IFTY-E IG-HT„AND 7 6l_100_-..___..______.. "'Dollars 1 S 1,958.76
I
...--
or more each on the d w__1st _ day of each month beginning._. _�L. �'!_ _ __ _ �... ly.�4 together with interest
t rom date hereof at the rate of *Pr ime._._°%a per annum calculated on the basis of a daily rate equal to 1/365th of a years interest times the actual number
4 days elapsed on the decreasing unpaid balance. To assure payee of a reasonable income for the origination and servicing expenses of this note, payor
agrees the minimum charge for interest%hall be fifty dollars.On _ -April _I., _ � _.._.__ _ , ig 89 all principal and interest then
OfInj aid hall be dui and payable. lniere-,t pa%able monthk at the same time as principal and it not %()paid(o become a part of principal and thereafter blur
like-interest. Upon default in any pay mem ot'principal or interest.t lieµ hole stint t)l print if-)al and interest Qhall become due at the option of't he holder hereof.
The undersigned promises to pay,in addition, all costs of collection and reasonable attorney's fees incurred by the holder hereof on account of such
;c>llection, whether or not suit is filed hereon. After maturity. intere%t inav• at the option of the holder hereof,be computed at a rate of 2010 per annum in
cxce%s of the above stated rate,calculated on the basis of a daily rate equal to 1/365th of a years interest times the actual number of days elapsed until paid.
t,acn maver shall be Jointly and severally liable hereon and consents to renewals and extension of time for payment hereof and consents to the acceptance
(Nf security and substitution of security for this note and waives demand,notice,and protest.
*Pr-i ��s such rate changes from time to time. As of 4/1/84, TRB's prime is 11.5%.
� re
P.O. Box 309 TRUCKEE DONNER PUBLIC UTILITY DISTRICT
V\ e%
Truckee Ca. 95734 8Y
1W
J s A, Maass, President
N-34301-8o).---Truckee RiVCT Bank
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LOAN . AOCESSING & DISBURSAL IMV v. AUCTION
Name Truckee Donner Public Utility_ District Date _a2rii 1, 1984
Address P.O. Box 309, Truckee, Ca. 95734 Amt. 89,047.00
Prime 1-errn 60 mos. A/H WM0- CIL �`0`
Rate__.____.
Rewrite loan to purchase Line Truck
PURPOSE: .
COLLATERAL.
1980 Digger Derrick Line Truck
NAME of INSURED
: NSA
May 1, 1984 Apr i 1 1, 1989
1st Payment Date. Mat ritY•
I/we hereby instruct Truckee River Bank to disburse the proceeds of this loan as shown below:
Credit Account No. of $
v
Issue Cashiers Check to $
Issue Cashiers Check to $
4
Payoff Loan No. to $.
Payoff Loan No. to Y $
Insurance Agent: - --, Amount Borrowed $ 89,047.00
Phone #: A/H Total $ !0-
Fees: C/L Total $
-o-
Interest $ ._2 8,4 7 8_6 0
r
TOTAL REPAYMENT 117,525.6a _
TRUCKEE DONNER PUBLIC UTILITY DISTRICT `
BY: • avow
JaG.s A. Maass, President
Board of Directors
,
Loan Officer No.
Officer Signature (Approval) D. Gi4comini
LO-001 (1/84) -