HomeMy WebLinkAboutRES 2001-03 - Board Public
Resolution No. 2001-03
Approving an agreement to acquire equipment (three service
trucks)
WHEREAS, the Board of Directors of the Truckee Donner Public Utility District has determined that
a true and very real need exists for the acquisition of the equipment described in the individual
Payment Schedule No. 6 and the Master Municipal Lease and Option Agreement No. 909
presented at this meeting; and
WHEREAS, the Board of Directors has taken the necessary steps under applicable law, including
any legal bidding requirements, to arrange for the acquisition of such equipment; and
WHEREAS, the Board hereby directs its legal counsel to review the agreement and negotiate
appropriate modifications to said agreement so as to assure compliance with state law and local
statutory law, prior to execution of the agreement by those persons so authorized by the District for
such purposes;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors as follows:
1. The Board finds that the terms of said agreement are in the best interests of the District for
the acquisition of such equipment and the Board designates and confirms the Board
President and the Treasurer to execute and deliver, and to witness (or attest) respectively,
the agreement and any related documents necessary for the consummation of the
transactions contemplated by the agreement.
2. That the acquisition of the equipment, under the terms and conditions provided for in the
agreement is necessary, convenient, in the furtherance of and will at all times be used in
connection with the District's governmental and proprietary purposes and functions (except
to the extent that subleasing of the equipment is permitted under the terms of the
agreement) and are in the best interests of the District and no portion of the equipment will
be used directly or indirectly in any trade or business carried on by any person other than
a governmental unit of the state on a basis different from the general public.
3. The lessee covenants that it will perform all acts within its power which are or may be
necessary to insure the maintenance of its legal status as being a duly organized and
existing entity under the laws of the state, which status is the basis for the interest portion
of the rental payments coming due under the agreement to at all times remain exempt from
federal income taxation under the laws and regulations of the United States of America as
presently enacted and construed or as hereafter amended.
4. It is the intent of the District to be reimbursed from the proceeds of the Agreement approved
herein for prior expenditures in the event that the District elects to disburse moneys from its
own reserves for acquiring the equipment. Such declaration of official intent to be
reimbursed is issued pursuant to Section 1.103-18 of the Federal Income Tax Regulations.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the
District on the 17th day of January, 2001 by the following roll call vote:
AYES: Aguera, Hemig, Sutton and Maass.
NOES: None.
ABSENT: Van Gundy.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
mes A. Maass, President
ATTEST:
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Peter L. Holzmeister, District Clerk