HomeMy WebLinkAboutRES 1996-24 - Board RESOLUTION NO 9624
OF THE
-- TRUCK 'E DOIIINER PUBLIC UTILITY DISTRICT
APPROVING AGREEMENT TO ACQUIRE EG?UIPMENT
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. and the Master Municipal Lease and Option Agreement No. 909
presented at this meeting, and me
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 General
Manager or Acting General Manager and the Deputy District Clerk 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 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 or 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. That the District has expended $136,803.35 to date of the amount to be financed
�-- ($7,509.85 towards the electric SCADA system and $129,293.50 towards the electric
meters) and that it is the District's intention to be reimbursed from the loan proceeds in the
amount of$557,000 for these expenditures that have already been made.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the
District on the seventh day of August 1996 by the following roll call vote:
AYES: Aguera, Jones, Maass, Sutton and Hemig.
NOES: None.
ABSENT..- None.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
(Yv�C�-
Mary Cha n, A ing General Manager and
Clerk of the Board
ATTEST.
Susan M. Craig, Deputy Distric Jerk
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