HomeMy WebLinkAboutRES 1993-01 - Board TRUCKEE DONNER PUBLIC UTILITY DISTRICT
FINANCING CORPORATION
RESOLUTION NO. 93-01
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TRUCKEE DONNER
PUBLIC UTILITY DISTRICT FINANCING CORPORATION APPROVING
A LEASE AGREEMENT AND CERTAIN OTHER
DOCUMENTS, AUTHORIZING THE PREPARATION, SALE AND
DELIVERY OF NOT TO EXCEED $31500, 000
CERTIFICATES OF PARTICIPATION, AND
AUTHORIZING CERTAIN ACTIONS
IN CONNECTION THEREWITH
WHEREAS, the Truckee Donner Public Utility District Financing
Corporation is a nonprofit public benefit corporation organized and
existing under the laws of the State of California (the
"Corporation" ) with the authority to assist in the financing of
public improvements on behalf of the Truckee Donner Public Utility
District (the "District") ; and
WHEREAS, the District and the Corporation desire to enter into
that certain Lease Agreement, by and between the District and the
Corporation (the "Lease Agreement" ) , the form of which has been
presented to this Board of Directors at this meeting, pursuant to
which the District will agree to lease the Project (as defined in
the Lease Agreement) from the Corporation and to pay certain Lease
Payments (as defined in the Lease Agreement) which will be pledged
to the owners of the Certificates of Participation (defined below)
executed pursuant to a Trust Agreement, by and among the trustee
named therein (the "Trustee" ) , the District and the Corporation
(the "Trust Agreement") , the form of which has been presented to
this Board of Directors at this meeting; and
WHEREAS, the Corporation will assign to the Trustee payments
under the Lease Agreement, such assignment to be made pursuant to
an Assignment Agreement by and between the Corporation and the
Trustee (the "Assignment Agreement" ) , the form of which has been
presented to this Board of Directors at this meeting; and
WHEREAS, the Corporation and the District have determined that it
would be in the best interests of the Corporation, the District and
citizens of the community to authorize the preparation, sale and
delivery of certificates of participation in an aggregate principal
amount not to exceed $3 , 500, 000 (the "Certificates" ) , which .
Certificates evidence proportionate interests in certain lease
payments to be made pursuant to the Lease Agreement;
NOW, THEREFORE, the Board of Directors of the Corporation do
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hereby resolve as follows :
SECTION 1 : Certificates . This Board of Directors hereby
authorizes the preparation, sale and delivery of the Certificates
in an aggregate principal amount not to exceed $3, 500, 000 in
accordance with the terms and provisions of the Trust Agreement.
SECTION 2 : Certificate Documents . The Lease Agreement, the
Assignment Agreement, the Site and Facilities Lease and the Trust
Agreement presented at this meeting are approved. The President or
Vice-President of the Corporation or the President' s designee is
authorized and directed to execute and deliver said agreements.
The agreements shall be executed in substantially the forms hereby
approved, with such additions thereto and changes therein as are
recommended or approved by Special Counsel to the Corporation and
approved by such officers of the Corporation executing the
documents, such approval to be conclusively evidenced by the
execution and delivery thereof .
SECTION 3 : Other Actions . The President, Vice President and the
Secretary, and such other officers of the Corporation are
authorized and directed, jointly and severally, to do any and all
things and to execute and deliver any and all documents which they
may deem necessary or advisable in order to consummate the sale and
delivery of the Certificates, and the delivery of the Lease
Agreement, the Assignment Agreement, the Site and Facilities Lease
and Trust Agreement, and otherwise effectuate the purposes of this
Resolution, and such actions previously taken by such officers are
hereby ratified and confirmed.
SECTION 4 : Effect . This Resolution shall take effect from and
after its date of adoption
AYES: Director Gaarder, Kinzer, Turner, and President
Smith.
NOES : None.
ABSENT: Director Frishman.
TRUCKEE DONNER PUBLIC UTILITY
DISTRICT FINANCING CORPORATION
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