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Home My WebLink AboutRES 1980-09 - Board r r TRUCKEE-DONNER PUBLIC UTILITY DISTRICT, COUNTY OF NEVADA., STATE OF CALIFORNIA RESOLUTION NO 40 8009 RESOLUTION CALLING, PROVIDING FOR AND GIVING NOTICE OF A SPECIAL ELECTION TO BE HELD IN SAID DISTRICT ON TUESDAY, DUNE 3 , 1980 , FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED VOTERS OF SAID DISTRICT A PROPOSITION FOR THE ISSUANCE OF REVENUE BONDS BY SAID DISTRICT, AND REQUESTING CONSOLIDATION OF SAID ELECTION WITH THE STATEWIDE ELECTION FOR SAID DATE- WHEREAS, the Board of Directors of Truckee--Donner Public Utility District has determined that the public 'intere st and necessityrequire the making of 'improvements to the enterprise hereafter mentioned in' Section 2 of this resolution, and has Further determined that, said improvements should be f financed by the issuance of revenue bonds under the Revenue Band Law of 19 41; NOW, THEREFORE, the Board of Directors of the Truckee- Donner Public Utility District, Nevada County, California, DOES HEREBY RESOLVE, -DETERMINE AND ORDER AS FOLLOWS Section 1. A special election shall be held and the sane is hereby called to be held in. the Truckee-Donner Public Utility District, Nevada County, California , on Tuesday, the 3rd day of June, 1980, for the purpose of submitting to the qualified voters of -said district the measure for issuing revenue bonds pursuant to .the Revenue Bond Law of 1941 (Chapter 6 , Part 1, Division 2 , Title ; 5 of the Government code of the State of California) in the amount and for the objects ects and purposes hereinafter set forth, including alb. � P p fees, costs and expenses incidental to and connected with such pro posed improvement project. �1� 1W Section 2 . The enterprise to be financed by said issuance of revenue bonds 'is as follows: The installation and construction of improvements to the public water system of the District, including but not limited to water tran smission and d i s tr ibution mains and lines, pumping facilities, pressure regula- tion f acilities, and appurtenant facilities, and further including acquisition of any necessary 'lands, easements or -rightse-of-way. 6 Pursuant to Sect ion 5 4 410 o f the Government Code, i.n determining the amount of bonds to be, issued, the Board of Directors has included (a.) all estimated construction costs and estimated costs incidental to or connected with the improvements comprising the enterprise; and (b) all engineering,- inspection.- legal, financial consultant and fiscal agent' s fees; costs of the bond election and of the printing, issuance and sale of said revenue bonds * and bond reserve fund and bond discount. , Said estimated cost constitutes the basis for determining the amount of revenue bonds to be 'issued, but the Board of Directors reserves the right in its discretion to provide additional sums, ' if required, from moneys now or hereafter available in the water fund, general fund, or other funds of the District lawfully available therefor to improve said enterprise or to aid in the acquisition and improvements of said enterprise; and said estimated cost herein set forth shall not be deemed to constitute a limitation or condi- tion upon the issuance of any of said revenue bonds or a limitation on the right of the Board of Directors to make such additional con- tributions from any available funds of the District. The enterprise for which said revenue bonds shall be issued under said Revenue ' Bond ,Law of 1941 is hereby further defined to be the whole and each and every part of the presently existing Truckee-Donner Public Utility e .# Company, together with all improvements and extensions thereto to be made or acquired from funds provi.d.ed b the revenue bondsproposed. Y to be issued, and all other additions, betterments , extensions and 40 improvements to said water system or any part thereof now or hereafter made, Section 3 . The estimated cost of such acquisition and improvement iS $350_0000*00 j which shall be the ri a.nci l. � p • amount of the bonds proposed to be issued. The maximum rate of i.nte.rest -to be paid on said bonds shall not exceed the maximum rate permitted by law as of the date of award of sale of said bonds, . payable semiannually, except that interest for the first year may y qM f be payable at the end of said year, the actual rate or rates of A interest on said bonds to be determined at or prior to the time of the sale or sales thereof. Section 4 . If the measure for issuance of revenue bonds so submitted receives the requisite number of votes to wit,r a majority of all the votes cast on the measure, revenue bonds as pro- vided herein not exceeding the principal. amount stated in such r measure shall be issued and sold for the purpose set forth herein. Said bonds are to be revenue bonds payable exclusively from the revenues of the enterpr i'se, and are not to be secured b the taxing g power of the Truckee--Donner Public Utility District. Section. 5. The polls of said election shall be opened at 6 seven o' clock A.M. of the day of said election and shall remain open continuously from said time until eight o' clock P.M. of the same day, a .when said polls shall be closed, except as otherwise provided by law. _3_ Section 6 . Either on the ballots to be used at said sp ecial election, or on the device for marking said ballots, or on the instructional pages to accompany said ballots , in addition to any other matter required by law, there shall be printed b appropriate instructions regarding the procedure for punching, marking or slotting the ballot. Said instructions shall advise the voters that, in order to vote on the measure, they must punch, mark or slot the voting s, quare after the word "Yes" or after the word "No. " Section 7. The ballot measure shall read substantially as follows ; TRUCKEE-DONNER PUBLIC UTILITY DIS- TRICT WATER SYSTEM IMPROVEMENT REVENUE BOND MEASURE!, Shall the Truckee-Donner Public Utility Dis- trict issue revenue bonds in the YES principal sum of not to exceed $ 350,000.00 to finance the construction and install ation of improvements to the water system of said District, including but not limited to water transmission and distribution mains and lines, pump- ing facilities , pressure regulation facilities , and appurtenant facili- ties , together with acquisition of NO any necessary land, easements or rights-of-way, and 'Including all fees , costs and expenses inciden- tal to such 'improvements and the related financing? Section 8. A punch, mark or slot placed in the voting square after the word "YES" in the manner here inbefore provided shall be counted in favor of the adoption of the measure. A punch, mark or slot placed in the voting square after the word "NO" i.n sum 4 the manner herein.before provided shall be counted against the adoption of the mea sure* Section 9 . The manner of hold ing the election shall be as. , provided in this resolution and the manner of voting on the issuance of bonds shall be as provided in this resolution. In all particulars not herein recited, the .election shall be held and the votes can- vassed p ursuant to the law for general elections held in the Truckee-- Donner Public Utility District and consolidated with a statewide election, p ursuant to Sections 23300 'and following of the California Elections Code* Section 10. Said Board of Directors hereby requests of the Board of Supervisors of the County of Nevada that the special election called by this* resolution for submission of the revenue bond measure above--stated be consolidated with the statewide election to be held on said date of June 3 , 1980 , and that the measure as so stated be made to appear upon the same ballot as that provided for such statewide election. Section 11. Pursuant to Section 23306 of said Elections Code, said Board of Directors 'hereby requests and authorizes the Nevada County Clerk to canvass the returns of the election. Section 12 . The District Secretary is hereby directed forthwith to file with the Nevada County Clerk and Exr.officio Clerk of the Board of Supervisors a certified copy of this resolution. Section 1.3 . The Nevada County Clerk is hereby requested and authorized to cause an appropriate notice of this election to be p ublished in the SIERRA '. SUN, a newspaper of general circulation publi shed in Nevada County and in said District, as provided by law. too 5 f • ,. Section 14 . This resolution shall take effect upon its adoption. Y STATE OF CALIFORNIA) SS COUNTY OF NEVADA } y I, A. Milton Seymour , District Secretary of the Truckee-Donner Public Utility District, DO HEREBY CERTIFY that the foregoing resolution was . duly adopted by the Board of Directors of said District at a regular meeting of said Board of Directors held on March 3, � 1980 , and that said resolu-- tion was so adopted by the following vote: AYES: Board Members Hatch, Maass, Sutton, Kuttel NOES* Board Members• None ABSENT OR Huber , ABSTAINING: Board Members �le4 .... (SEAL) District Secretar Y STATE OF CALIFORNIA) . } SS COUNTY OF NEVADA � r A. Milton Seymour District Secretary of the Truckee-Donner Public Utility District, DO HEREBY CERTIFY that the foregoing is a full , true and correct copy of Resolution No. 8009 of said Board of Directors , and that the same has not been amended or repealed. DATED: , 19800 err s District Secretary t (SEAL) r P . e i. q T „ ! V s sum 6 r • x f