HomeMy WebLinkAboutRES 2003-53 - Board TRUCKEE DONNER
Public Utility District
Resolution No. 2003- 53
AUTHORIZING INVESTMENT OF RESERVE FUND MONIES IN THE
LOCAL AGENCY INVESTMENT FUND FOR THE TRUCKEE DONNER
PUBLIC UTILITY DISTRICT COMMUNITY FACILITIES DISTRICT
NO. 03-1 (OLD GREENWOOD)
WHEREAS, pursuant to Chapter 730 of the statutes of 1976, Section 16429.1 was added to the
California Government Code to create a Local Agency Investment Fund in the State Treasury for the
deposit of money of a local agency for purposes of investment by the State Treasurer; and
WHEREAS, THE Board of Directors does hereby find that the deposit and withdrawal of money in the
Local Agency Investment Fund in accordance with the provisions of Section 16429.1 of the
Government Code for the purpose of investment as stated therein as in the best interests of the
Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood).
NOW THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby authorize the Trustee,
currently Hugh Black of the Bank of New York Western Trust, of the Truckee Donner Public Utility
District Communities Facility District No. #03-1 (Old Greenwood) to invest Reserve Fund monies in the
Local Agency Investment Fund in the State Treasury in accordance with the provisions of Section
16429.1 of the Government Code for the purpose of investment as stated therein, and verification by
the State Treasurer's Office of all banking information provided in that regard.
BE IT FURTHER RESOLVED, that the Board of Directors authorizes the District treasurer to execute
the Application to Deposit Trustee Bond Proceeds with the Local Agency Investment Fund naming the
trustee of the Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old
Greenwood).
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District
on the seventeenth of December 2003 by the following roll call vote:
AYES: Directors Aguera, Hemig, Maass and Van Gundy
ABSTAIN: None
NOES: Director Sutton
ABSENT: None
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
..y B �.
Ja s A. Maass, President
ATT ST:
Peter L. olzmeister, Clerk of the B and
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STATE OF CALIFORNIA
OFFICE OF THE STATE TREASURER
LOCAL AGENCY INVESTMENT FUND
P.O. BOX 942809
SACItAMENTO, CA 94209-0001
(916) 653-3001 '
APPLICATION TO DEPOSIT TRUSTEE BOND PROCEEDS
Name and,address of
Local Agency(Issuer) -Truckee Donner Public Utility District
P. 0. Box 309
Truckee, CA 96160
Titre of Bond Issue Truckee Donner Public Utility District
Community Facilities District No. 03-1 (Old Greenwood)
Special Tax Bonds
Principal Amount $ 12,445,000 Total Bond Issue
$1,220,368.60 •Reserve Fund Deposit
Name and Address of
Trustee'or Fiscal Agent Bank of New York Western Trust Company
700 South Flower Street Suite 500
Los Angeles, CA 90017
Attn: Corporate Trust Department
Authorized Officer for -
Trustee or Fiscal Agent Hu&h Black
Telephone Number 213-630-6243
1) The undersigned is officer of the district and is authorized to execute this
document.
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DEC-04-2003 15:27 CA STATE TREASURER/LAIF y1b b54 y'JS1
Truckee Donner Public Utility District
Name of.Local,Agency
Z) The Issuer requests permission to deposit $ 1,220,368.60
of the above-named bond issue in the Local Agency.Investment Fund. Attached to
this form is an estimated monthly drawdown schedule:
It will be necessary for an authorized representative to contact the
Local Agency Investment Fund to initiate a Bond proceeds transfer.
3) Attached to or accompanying this form is a copy of the Official Statement for the
Bonds.
4 The Agency understands and acknowledges that the Local Agency Investment
Fund will not provide any special services or information relating to investment
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methods or earnings on the bond proceeds being deposited, besides its normal
policies, by which the Agency will be,credited quarterly with its proportion
ate
share of investment earnings of the State's Pooled Money Investment Account
(PMIA), minus an administrative charge of no more than one-half of one percent
of the earnings. The State believes that, for the purposes of the Agency's
calculation of"arbitrage rebate" under Section 148 of the Internal Revenue Code
of 1986, the PMIA qualifies as a "commingled fund" within the mewing of the
Treasury Regulations Section 1.148-4. The State will not perform any rebate
calculations,which are entirely the responsibility of the Agency.
Signature Must be authorized on Resolution) Date
Mary L. Chapman 530-582-3906
Print Name Telephone#
Treasurer
Title
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DEC-04-2003 15:Z e l,H 5 1 H I t 1 KtHSUKtK/LH 1 r V 10 0ZX+ 77J 1 r.rw
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ESTIMATED DRAWDOWN SCHEDULE
Truckee Donner Public Utility District
(Name of Local Agency)
Bank of New York Western Trust -_f-hloh Black
(Name of Trustee/Fiscal Agent)
Date Amoimt Date . Amount
February & August Accrued Interest for
of each year payment of 3/1 the
9/1 principal_
interest payments
Signature(Must be authorized on Resolution) Date
James A. Maass, President, Board:.-of Directors
* PLEASE NOTE
1) Bond Proceeds may be withdrawn 30 calendar days from date of initial
deposit and each 30 calendar day period thereafter.
2) Should a drawdown date fall on a weekend or holiday it will be moved to the
first business day following.
3) Please provide LAIF with 24 hours notice when making a drawdown of$10
million or more.
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