Resolution 2310 s2 3/o
JHHW:KIJ:jn 10/24/83 0802K
:jla 11/03/83
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RESOLUTION NO. 2310
A RESOLUTION DETERMINING ADEQUACY OF WATER SUPPLY,
THAT ACQUISITION CAN BE ACCOMPLISHED FROM REVENUES
AND ORDERING FILING OF PLANS AND ESTIMATES
AND AGREEMENT
ANGORA 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 stock and
existing assets of the Angora Water Company (the "Public Utility Works"), 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 Public Utility 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 "Agreement for Sale and Purchase of the Stock of Angora Water Co.",
dated as of Nov. 3 , 1983, by and between Donald L. Martin and Marjorie L.
Martin, husband and wife, Gerald E. Martin and Thelma V. Martin, husband and wife
and Stanley L. Martin and Louise A. Martin, husband and wife (hereinafter
collectively referred to as "Owners") and the South Tahoe Public Utility District,
a public district (hereinafter referred to as "District"), 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 Owners as set forth in the Agreement,
will have the benefit of acquiring such Public Utility Works at the lowest possible
cost.
23~v
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 District in connection with such Public Utility Works.
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
determine to acquire the Public Utility Works by ordinance to be adopted
immediately after the filing of such plans and estimates.
PASSED AND ADOPTED at a duly held meeting of the Board of Directors of the
South Tahoe Public Utility District on Nov. 3 , 1983, by the following vote:
AYES: Directors Jones, Olson, Madden and Wynn
NOES: None
ABSENT: Director Lowe
r P sident of the of Directors of
outh Tahoe Pub c Utility District
Clerk 4/6o6lth Tahoe Public U i ity
District and Ex-Officio Secretary of
the Board of Directors thereof
I hereby certify that the foregoing is a full, true and correct copy of
Resolution No. 23 10 duly and regularly adopted by the Board of Directors of the
South Tahoe Public Utility District, E1 Dorado County, California.
L~
C'l r a x- fficio Secretary of the
Board Directors of the South Tahoe
Public Utility District
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