HomeMy WebLinkAboutRES 1992-41 - Board RESOLUTION No.. 9241
OF THE
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
ADOPTING A POLICY AUTHORIZING THE FINANCING OF
FEES AND/OR LINE EXTENSIONS
WHEREAS, the Truckee Donner Public Utility District has a long standing policy whereby
the costs of line extensions, connections and projected needs for system improvements
that benefit new development are paid for by specific project developers in the form of
line extension. fees, connection charges and facilities fees; and
WHEREAS, the Board of Directors of the Truckee Donner Public Utility District wishes to
reaffirm and does hereby reaffirm its commitment to said policy because it spares current
customers the expense of supporting new development; and
WHEREAS, it is recognized that the District's electric system efficiency is improved for
all customers when its overall monthly load factor is improved; and
WHEREAS, it is also recognized that the Truckee Donner Public Utility District has as a
goal to contribute to the general welfare of the Truckee community and to encourage the
creation and retention of jobs in Truckee which helps promote the general welfare;
NOW, THEREFORE, BE I T RESOL VED by the Board of Directors of the Truckee Donner
Public Utility District as follows:
1. The General Manager of the District is authorized to assist certain commercial and
industrial developments that help improve electric system load factor and that are
likely to create or retain jobs in the local Truckee area by entering into
development agreements that provide for the financing of electric and water line
extensions, connection and facilities fees.
2. The financing provided for in Paragraph 1 will be limited to the following conditions:
a) The development shall be for commercial or industrial projects that expand
or retain employment within the TDPUD area;
b) The development is estimated to improve the District electric system
monthly and annual load factor;
c) The term of financing shall not exceed five (5) years;
d) The amount financed shall not be less than $25,000 or greater than
$100,000;
e) The financing shall bear an interest rate equal to a typical high grade
commercial construction loan in the Truckee area and shall comply with any
law relating to interest rates charged by a public utility district in California;
f) The financing shall be secured by a first lien superior to any other liens or
encumbrances evidenced by a policy of title insurance on the project. This
paragraph shall be accomplished through the recording of a Deed of Trust
and Assignment of Rents.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held
within the District on the 2nd day of November 1992 by the following roll call vote:
AYES: Corbett, Curran, Maass and Aguera.
NOES: None.
ABSENT. Sutton.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
Jo��ph R. Aguerar resident
ATTEST
Susan M. Craig, Deputy Di ict Clerk
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