Resolution 2537
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29072-20
JHffi'il: DJO : ce
7/25/90
RESOLUTION NO. 2537
A RESOLUTION OF THE BOARD OF DIRECTORS
SOUTH TAHOE PUBLIC UTILITY DISTRICT
APPROVING BOND PURCHASE CONTRACT, OFFICIAL STATEMENT AND RELATED
DOCUMENTS AND AUTHORIZING ACTIONS WITH RESPECT THERETO WITH
RESPECT TO FALLEN LEAF LAKE ASSESSMENT DISTRICT 1990-1
BE IT RESOLVED by the Board of Directors (the HBoard") of the
South Tahoe Public Utility District (the HDistrict"), County of El
Dorado, State of California, that
WHEREAS, on this date, Kelling, Northcross & Nobriga,
Financial Advisor to the District, has presented to this Board on
behalf of Wedbush Morgan Securities, Inc. (the HUnderwriter"), a
form of contract (the HBond Purchase Contract") for the purchase
of not to exceed $809,766 par value of Improvement Bonds, South
Tahoe Public Utility District, Fallen Leaf Lake Assessment
District 1990-1 (the HBonds") to be issued by the District in
proceedings undertaken pursuant to the Resolution of Intention to
Make Acquisitions and Improvements, Resolution No. 2517, adopted
by this Board on April 19, 1990;
WHEREAS, a copy of the Bond Purchase Contract is on file in
the office of the Clerk of the Board of Directors of the Board and
reference is hereby made thereto for further particulars;
WHEREAS, this Board has considered the Bond Purchase Contract
and finds it acceptable subject to the conditions set forth in
this resolution; and
WHEREAS, the public interest and convenience will be served
by entering into the Bond Purchase Contract;
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NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of
the South Tahoe Public utility District that:
1. The Bond Purchase Contract is hereby approved and the
Finance Officer of the District, or such other official of the
District as may be designated by this Board (the "Authorized
Official"), is hereby authorized and directed to execute and
deliver the Bond Purchase Contract, for and on behalf of the
District, substantially in the form of the bond Purchase Contract
presented to this Board, with any changes, insertions and
deletions as may be approved by Authorized Official in
consultation with Jones Hall Hill & White, A Professional Law
Corporation, as bond counsel, with respect to these assessment
proceedings, such approval to be conclusively evidenced by the
execution of the Bond Purchase Contract by Authorized Official.
2. Upon execution of the Bond Purchase Contract by the
District, the Bonds shall be printed, authenticated and delivered,
all in accordance with the applicable terms of the Bond Purchase
Contract and the Authorized Official and other responsible
District officials are hereby authorized and directed to take such
actions as are required under the Bond Purchase Contract to
complete all actions required to evidence the delivery of the
Bonds and the receipt of the purchase price thereof from the
Underwriter.
3. The Board hereby approves the Preliminary Official
Statement describing the financing described herein, in
substantially the form on file with the Authorized Official,
together with any changes therein or additions thereto deemed
Resolution No. 2537
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advisable by the Authorized Official. The Board approves and
authorizes the distribution of the Preliminary Official Statement
to prospective purchasers of the Bonds, and authorizes and directs
the Authorized Official on behalf of the District to deem Hfinal"
pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934
(the HRule") the Official Statement, prior to its distribution to
prospective purchasers of the Bonds. The execution of the Final
Official Statement, which shall include such changes and additions
thereto deemed advisable by the Authorized Official and such
information permitted to be excluded from the Preliminary Official
Statement pursuant to the Rule, shall be conclusive evidence of
the approval of the Final Official Statement by the District.
4. All actions heretofore taken by the officers and agents
of the District with respect to the establishment of the
assessment district and the sale and issuance of the Bonds are
hereby approved, confirmed and ratified, and the proper officers
of the District are hereby authorized and directed to do any and
all things and take any and all actions and execute any and all
certificates, agreements, contracts, and any other documents,
which they, or any of them, may deem necessary or advisable in
order to consummate the lawful issuance and delivery of the Bonds
in accordance with this resolution, and any certificate,
agreement, contract, and other document described in the documents
herein approved.
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Resolution No. 2537
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PASSED AND ADOPTED by the Board of Directors of the South
Tahoe Public utility District at a duly held regular meeting on
the 16th day of July, 1990, by the following vote:
AYES: 5
NOES: 0
ABSTAIN: 0
ABSENT: 0
ATTEST:
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ROBERT MASON, CHAIRMAN OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT
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PAT A. MAMATH, CLERK OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT
Resolution No. 2537
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