Resolution 2414
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RESOLUTION NO. 2414
A RESOLUTION DETERMINING ADEQUACY OF WATER SUPPLY,
THAT ACQUISITION CAN BE ACCOMPLISHED FROM REVENUES
AND ORDERING FILING OF PLANS AND ESTIMATES
AND AGREEMENTS
TAHOE PARADISE WATER COMPANY
RESOLVED, by the Board of Directors of the South Tahoe Public Utility
District, that
WHEREAS, this Board has determined, by resolution, that the public
interest and necessity of this District require the acquisition of all of the
assets of the Tahoe Paradise Water Company (the "Public Utility Worksll), a
privately owned public utility subject to the jurisdiction of the Public
Utilities Commission of the State of California;
WHEREAS, this Board has procured plans and estimates of the cost of
original construction and completion of similar works and of the revenues that
can be expected from the Pub 1 i c Ut il i ty Works and has procured plans and
estimates of the cost of obtaining from such sources as the Board has found
and designated as available a sufficient supply of good, pure water for the
District;
WHEREAS, the Board has solicited and considered offers for the sale to
the District of the existing Public Utility Works.
NOW, THEREFORE, IT IS FOUND, DETERMINED AND ORDERED, as follows:
1. That a sufficient supply of good, pure water for existing and
future users of the Public Utility Works is available through the acquisition
of the Public Utility Works and any and all water rights and sources of water
in connection therewith.
2. That the cost of acquiring the Public Utility Works as set forth in
that certain lIAgreement for Installment Sale and Purchase of the Assets of the
Tahoe Paradise Water Company II by and between the Tahoe Paradise Water Company
(the "Corporation") and the South Tahoe Public Utility district, (the
"Distri~t"), which agreement is hereinafter referred to as the "Agreement", is
substantially less than the cost of original construction and completion by
the District of similar works, and the District, by acceptance of the offer of
the Corporat i on as set forth in the Agreement, wi 11 have the benef it of
acquiring such Public Utility Works at the lowest possible cost.
3. That the cost of acquiring the Public Utility Works as set forth in
the Agreement can be paid from revenues of the District derived from the
operation of the Public Utility Works to be acquired in addition to the other
necessary expenses of the Di stri ct in connect i on with such Pub 1 i c Uti 1 i ty
Works.
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4. That the plans and estimates referred to in the recitals hereof and
the Agreement are hereby ordered filed in the office of the Clerk as of the
date of adoption of this Resolution.
'5. That the Board deems it to be in the best interests of the District
to determi ne to acqu i re the Pub 1 i c Uti 1 i ty Works by ord i nance to be adopted
immediately after the filing of such plans and estimates.
Acting ~~f Directors of
of the South Tahoe Public Utility District
ATTEST:
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PASSED AND ADOPTED at a duly held meeting of the Board of Directors of
the South Tahoe Public Utility District on Ortnhpr? , 1986, by the
following vote:
AYES: Directors Mason, Madden, Jones
NOES: None
ABSENT: Directors Olson, Wynn
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Acting Chairman of the Board of Directors of
South Tahoe Public Utility District
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Clerk of South hoe Public Utility
District and Ex-Officio Secretary of
the Board of Directors thereof
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