HomeMy WebLinkAboutRES 1993-16 - Board ..
............ ...... .........
. ........... ............. ...... ..........
..........
...........
.............
..........
.. .................... .......
................
RESOLUT N,10:��'��l
93'1`G
4 F THE
TC�U K EE OONNERPUBLIC.:�!, UTILITY: DISTRICT
...
................
..........
..............
..... .......
....................... ......
............. .... ...................
........................
.................... ........................................ .. .... ........ .......
....... .......
..........I...............
...................
RESCINDING'RESOLUTIQN NQ. 9241
►N'D E. TAB S LISHIN A AMEIVED POLICY
AUTHUFIZING THE EINAVGINGF FEES AND/ R L(NE EXTEIVSONS
WHEREAS, on November 2, 199Z the Truckee Donner Public Utility District adopted
Resolution No. 9241 establishing a policy authorizing the financing of fees and/or line
extensions; and
WHEREAS, after review, the Board of Directors of the District determined to add a
provision whereby any development agreement containing a condition for the District
to finance fees and/or line extensions be subject to Board approval;
NOW, THEREFORE, BEIT 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 thatprovide for the financing of electric and waterline
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
_-an y 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.
3. Development agreements authorized under this policy shall be submitted to the
Board of Directors for approval prior to being executed by staff.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held
within the District on the first day of March 1993 by the following roll call vote:
AYES: Corbett, Jones, Maass, Sutton and Aguera.
NOES: None.
ABSENT: None.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
J s ph . Aguera, P sident
A TTES T.-
Susan M. Craig, Deputy District erk
smc