Resolution 2858-094
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
RESOLUTION NO. 2858-09
APPLICATION/AUTHORIZATION/REIMBURSEMENT/
DEDICATED SOURCE OF REVENUE
RESOLUTION
APPLICATION/AUTHORIZED REPRESENTATIVE RESOLUTION
BE IT RESOLVED by the South Tahoe Public Utility District (STPUD) Board of
Directors that the General Manager, Assistant General Manager and/or the Chief
Financial Officer is hereby authorized and directed to sign and file, for and on behalf of
the STPUD, a Financial Assistance Application for a financing agreement from the State
Water Resources Control Board for the planning, design, and construction of the
following list of sewer projects:
1. STPUD Luther Pass Pump Station Emergency Generation Project.
BE IT RESOLVED that the STPUD hereby agrees and further does authorize the
aforementioned representative or his/her designee to certify that the Agency has and
will comply with all applicable state and federal statutory and regulatory requirements
related to any financing or financial assistance received from the State Water
Resources Control Board; and
BE IT FURTHER RESOLVED that the General Manager, Assistant General
Manager, and/or the Chief Financial Officer or his/her designee of the STPUD is hereby
authorized to negotiate and execute a financial assistance agreement from the State
Water Resources Control Board and any amendments or change orders thereto and
certify financing agreement disbursements on behalf of the STPUD.
REIMBURSEMENT RESOLUTION
WHEREAS, the STPUD (the "Agency") desires to finance the costs of constructing
and/or reconstructing certain public facilities and improvements relating to its water and
wastewater system, including certain treatment facilities, pipelines and other
infrastructure (the "Project"); and
WHEREAS, the Agency intends to finance the construction and/or reconstruction of
the Project or portions of the Project with moneys ("Project Funds") provided by the
State of California, acting by and through the State Water Resources Control Board
(State Water Board); and
4
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
WHEREAS, the State Water Board may fund the Project Funds with proceeds from
the sale of obligations the interest upon which is excluded from gross income for federal
income tax purposes (the "Obligations"), and
WHEREAS, prior to either the issuance of the Obligations or the approval by the
State Water Board of the Project Funds the Agency desires to incur certain capital
expenditures (the "Expenditures") with respect to the Project from available moneys of
the Agency; and
WHEREAS, the Agency has determined that those moneys to be advanced on and
after the date hereof to pay the Expenditures are available only for a temporary period
and it is necessary to reimburse the Agency for the Expenditures from the proceeds of
the Obligations.
NOW, THEREFORE, THE AGENCY DOES HEREBY RESOLVE,
ORDER AND DETERMINE AS FOLLOWS:
SECTION 1. The Agency hereby states its intention and reasonably expects to
reimburse Expenditures paid prior to the issuance of the Obligations or the approval by
the State Water Board of the Project Funds.
SECTION 2. The reasonably expected maximum principal amount of the Project
Funds is $4 Million Dollars.
SECTION 3. This resolution is being adopted no later than 60 days after the date
on which the Agency will expend moneys for the portion of the Project costs to be
reimbursed with Project Funds.
SECTION 4. Each Agency expenditure will be of a type properly chargeable to a
capital account under general federal income tax principles.
SECTION 5. To the best of our knowledge, this Agency is not aware of the
previous adoption of official intents by the Agency that have been made as a matter of
course for the purpose of reimbursing expenditures and for which tax-exempt
obligations have not been issued.
SECTION 6. This resolution is adopted as official intent of the Agency in order to
comply with Treasury Regulation §1.150-2 and any other regulations of the Internal
Revenue Service relating to the qualification for reimbursement of Project costs.
SECTION 7. All the recitals in this Resolution are true and correct and this
Agency so finds, determines and represents.
4W
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
DEDICATED SOURCE OF REVENUE RESOLUTION
The STPUD hereby dedicates the following source of revenue: user charges and
capacity charges, to payment of any and all Clean Water State Revolving Fund
financing on the following projects: STPUD Luther Pass Pump Station Emergency
Generation project. This dedicated source of revenue shall remain in effect throughout
the term of such financing unless a modification or change of such dedication is
approved in writing by the State Water Resources Control Board.
WE, THE UNDERSIGNED, do hereby certify that the above and foregoing
Resolution was duly adopted and passed by the Board of Directors of the South Tahoe
Public Utility District at a regularly scheduled meeting held on the 7th day of May, 2009,
by the following vote:
AYES: Directors Mosbacher, Rise, Schafer, Jones, Claudio
NOES: None
ABSENT: None
MBoard President
South Tahoe Public Utility District
ATTEST:
Kathy S
lerk of the Bard