Resolution No. 2139r
9
RESOLUTION NO. 9118
A RESOLUTION DETERMINING UNPAID ASSESSMENTS
AND PROVIDING FOR ISSUANCE OF BONDS
SECOND SALE - $1,594,041
ASSESSMENT DISTRICT 1971 -1
(Fallen Leaf Lake Area)
RESOLVED, by the Board of Directors of the South Tahoe Public
Utility District, E1 Dorado County, California, that
WHEREAS, this Board did on April 6, 1972, pass and adopt its
Resolution of Intention No. 1676 relating to the acquisition and
construction of public improvements under and pursuant to the
provisions of the Municipal Improvement Act of 1913, and did therein
provide that serial bonds would be issued thereunder pursuant to the
i
provisions of the Improvement Bond Act of 1915, reference to said
Resolution of Intention hereby being expressly made for further
particulars;
WHEREAS, notice of the recordation of the assessment and of
the time within which assessments were to be paid in cash, was duly
published and mailed in the manner provided by law, and the time so
provided for receiving payment of assessments in cash expired, and
the Clerk and ex- officio Secretary of this District filed with the
Treasurer of El Dorado County, the ex- officio Treasurer of this
District, on November.2 9, 1978, a list of all assessments which
remained unpaid;
WHEREAS, this Board duly considered said list and determined
that the same was an accurate statement thereof;
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
1. List of Unpaid Assessments That the assessments now
remaining unpaid are as shown on said list and on Exhibit "A"
attached hereto and by this reference made a part hereof, that the
aggregate amount thereof is $1,,744,041.00, and that for a particular
0
description of the lots or parcels of land bearing the respective
assessment numbers set forth in said list, reference is hereby made
to the assessment and to the diagram recorded in the office of the
District Engineer of this District after confirmation thereof by
this Board.
2. Prior Issue Pursuant to Resolution No. 2088, A
I'm
Resolution Providing for Issuance of Bonds, First Sale - $150,000,
adopted by this Board on September 1, 1977, provided for issuance of
bonds in the amount of $150,000.00 to be known as "Improvement
Bonds, South Tahoe Public Utility District, Assessment District
1971 -1, Series 1971 -1A ", to be dated September 2, 1977, which bonds
were sold and delivered. Said Resolution No. 2088 expressly
reserved jurisdiction by this Board to issue additional bonds in one
or more increments, which bonds, together with the bonds authorized
in said Resolution No. 2088, shall not exceed in the total amount of
the unpaid assessments as shown on said List of Unpaid Assessments.
3. Issua of Bonds Bonds in the aggregate principal
r1q
amount of $1,594,041.00 shall be issued as hereinafter provided upon
the security of said unpaid assessments in accordance with the
provisions of the Improvement Bond Act of 1915 (Division 10 of the
Street and Highways Code) and under and pursuant to the provisions
of said Resolution of Intention and the proceedings thereunder duly
had and taken. Said bonds shall be known as "Improvement Bonds,
South Tahoe Public Utility District, Assessment District 1971 -1,
Series 1971 -1B," and shall be dated December 2, 1978. Said bonds
shall be issued as coupon bonds, registrable as to principal and
interest or as to principal only, be numbered and of the
denominations and mature in the amounts and on the dates set forth
in Exhibit "B" attached hereto and by this reference made a part
hereof.
4. Interest. Said bonds shall bear interest from their date
8
at the rate or rates determined by this Board at the time of sale of
said bonds (not to exceed 8% per annum), payable commencing on
,2317
January 2, 1980, and semiannually the•eafter on July 2 and January 2
of each year to maturity.
Each bond will continue to bear interest after maturity at the
rate stated therein, provided it is presented at maturity and
payment thereof is refused on the sole ground that there is not
sufficient money in the redemption fund with which to pay same; if
it is not presented at maturity, interest thereon will run only
until maturity.
5. Payable The principal of and interest on said bonds
shall be payable in lawful money of the United States of America at
Bank of America National Trust and Savings Association, the Paying
Agent of the District's Treasurer, at its principal office in San
Francisco, California. Principal and interest on any fully
registered bonds and principal on any bonds registered as to
*AW principal only shall be paid to the registered owner by check or
warrant mailed to the address entered in the registry book provided
for herein.
6. Form The coupon bonds, the registration endorsement
thereon and the coupons to be attached to such bonds shall be
substantially in the forms set forth in Exhibit "C" attached hereto
and incorporated herein by reference, the blank spaces therein to be
filled in to conform to the provisions of this resolution.
7. Execution. The bonds shall be executed on behalf of the
District and under its official seal by the Treasurer and by the
Clerk and ex officio Secretary of the District, and the coupons
attached to the coupon bonds shall be executed by the Treasurer
whose signature may be reproduced on the bonds and on the coupons by
engraved, printed or lithographed facsimile thereof, and the
official seal may be placed on the bonds in like manner; such
signing and sealing shall constitute and be a sufficient and binding
execution of each and every one of said bonds and of any coupons
thereof, respectively.
F
C
If any officer whose signature apears on the bonds or on any
coupons thereon ceases to be such officer before the delivery of the
bonds to the purchaser thereof, such signature shall be as valid as
if such officer had remained in office until the delivery of the
bonds.
8. Preparation and Delivery of Bonds The Treasurer is
hereby directed to cause said bonds to be prepared in accordance
with this resolution and to deliver same upon their completion and
execution to the purchaser thereof, upon receipt of the purchase
price therefor, and upon the performance of the conditions contained
in the accepted bid for the bonds, as determined by this Board.
9. Proceeds of Sale of Bonds The proceeds received from the
IR
sale of the bonds, including any premium, shall be placed in the
fund for the acquisition and /or construction of the project (herein
the "Improvement Fund "), except that any interest accrued from the
date of the bonds to the date of delivery thereof shall be placed in
the redemption fund provided for herein. All moneys in the
Improvement Fund shall be withdrawn only upon checks or warrants of
the District, and shall be applied exclusively to the payment of the
cost of the acquisitions and /or improvements described in the
proceedings herein referred to, as now or hereafter amended or
changed, and all expenses incidental thereto. Any surplus remaining
after payment of all costs and all legal charges, claims and
.expenses shall be used as set forth in said proceedings.
10. Redemption Fund The Treasurer shall keep a redemption
I I N
e
fund designated by the name of the bonds, into which shall be placed
any accrued interest and all sums received from the collection of
unpaid assessments provided for in Section 11 hereof, and of the
interest and penalties thereon, and from which fund disbursement
shall be made to pay the principal of the bonds and the interest due
thereon.
n
11. Bond Re ister. The Treasurer shall keep or cause to be
kept a register showing the series, number, date, amount, rate of
interest, the last known holder of each bond, and the number and
amount of each interest coupon paid. The Treasurer shall cancel or
cause to be canceled each bond and coupon paid.
12. Collection of Unpaid Assessments. The unpaid assessments
IM
shown on said list, together with the interest thereon, shall be
payable in annual series corresponding in number to the number of
serial maturities of the bonds issued. An annual proportion of each
unpaid assessment shall be payable in each year preceding the date
of maturity of each of the several series of bonds issued,
sufficient to pay the bonds when due, and such proportion of each
unpaid assessment coming due in any year, together with the annual
interest thereon, shall be payable in the same manner and at the
same time and in the same installments as the general taxes of the
District on real property are payable, and become delinquent at the
same times and in the same proportionate amounts and bear the same
proportionate penalties and interest after delinquency as do the
general taxes on real property within the District. All sums
received from the collection of said unpaid assessments and of the
interest and penalties thereon shall be placed in the redemption
fund provided for herein.
13. Redemption Prior to Maturity Each bond outstanding may
CM
be redeemed and paid in advance of maturity upon the second day of
January or July in any year by giving at least 60 days notice and by
paying the principal amount thereof together with a premium equal to
5% of the principal plus interest to the date of advanced maturity,
unless sooner surrendered, in which event said interest will be paid
to the date of payment, all in the manner and as provided in the
Improvement Bond Act of 1915.
The provisions of Part 11.1 of the Bond Act are applicable to
H
the advance payment of assessments and to the calling of bonds.
" / . y
The Treasurer shall call for redemption and retire bonds upon
'
%W prepayment of assessments in amounts sufficient therefor, or
whenever sufficient surplus funds are available therefor in the
redemption fund. In selecting bonds for retirement, the lowest
numbered bonds of the various annual maturities shall be chosen pro
rata in a manner intended to disturb as little as possible the
relationship of unpaid assessments to bonds outstanding.
14. Registration Book An appropriate book shall be kept in
the office of the Paying Agent, as bond registrar, showing at all
times what bonds are registered and in whose names, and, upon
presentation of the bonds for such purpose, the Paying Agent shall,
and under such reasonable regulations as the Paying Agent may
prescribe, register or transfer or cause to be registered or
transferred, in said registry book, the bonds as herein provided.
15. Registration and Transfer of Coupon Bonds Each coupon
bond herein authorized may be registered as to both principal and
interest or as to principal only, upon the written request of the
holder and upon presentation of the bond to the Paying Agent for
such purpose.
(a) Principal and Interest When a coupon bond is presented
for registration as to both principal and interest, the coupons
shall be removed therefrom and canceled (or preserved in a place of
safekeeping, at the option of the Paying Agent), and the number of
the bond, the name and address of the holder in whose name it is to
be registered, the date of such registration and a notation that the
bond is registered as to both principal and inerest shall be entered
in the registry book, and appropriate endorsement thereof 'shall be
made by the Paying Agent in the space provided therefor on the back
of the bond. Until such registration is discharged as hereinafter
provided, the interest when due shall be payable only to the
registered owner and the principal when due shall be payable only to
such owner upon surrender of the bond to the Paying Agent.
/ -R'�
(b) Principal Only When a coupon bond is presented for
registration as to principal only, the entries specified in the
preceding paragraph shall be made in the registry book and on the
bond, except that a notation in said book and on said bond shall
indicate that the bond is registered as to principal only. In such
case, the coupons remain negotiable and transferable by delivery and
shall not be removed from the bond. Interest on such bond shall be
paid to or upon the order of the person presenting the coupons for
payment; principal, however, shall be paid only to the registered
owner upon surrender of such bond to the Paying Agent.
(c) Transfer A registered coupon bond may be transferred
only by the registered owner, in person or by attorney duly
authorized in writing, by a written instrument of transfer in form
acceptable to the Paying Agent, and by the Paying Agent endorsing
such transfer on the bond and in the registry book. No transfer
shall be required to be made during the fifteen (15) days next
preceding an interest payment date.
(d) Discharge from Registration A registered coupon bond
L
may be discharged from registration upon written request of the
registered owner. In such case, the Paying Agent shall transfer the
bond to bearer by appropriate endorsement on the bond and in the
registry book, cause all unmatured coupons that have been removed
from the bond to be reattached to the bond (such coupons to be
reprinted, if necessary), and deliver the bond and coupons to the
owner, and thereupon negotiability and transferability by delivery
shall be restored.
(e) Reregistration Coupon bonds that have been discharged
from registration are subject to successive registrations and
transfers in the manner heretofore provided.
(f) Charges The person requesting registration, transfer or
discharge from registration of coupon bonds shall, as a condition
precedent to the exercise of such privilege, pay the reasonable
Aw 7
y charges of the Paying Agent therefor, if any, including any cost of
reprinting the coupons and any tax or other governmental charge
required to be paid with respect thereto.
16. Covenant To Foreclose The District hereby covenants with
the holders of the bonds that in the event (a) the alternate method
of tax apportionment (Sections 4701 through 4717 of the California
Revenue and Taxation Code) is no longer applied by E1 Dorado County
to special assessments for which bonds have been issued pursuant to
the Improvement Bond Act of 1915, for any reason whatsoever, and
(b) there are no funds available from which the District can make
payment of the amount of delinquent assessments and interest for
transfer into the redemption fund (pursuant to and as provided in
Sections 8802, 8803 and 8806 of the Streets and Highways Code of the
State of California), it will order, and cause to be commenced
within 180 .days following the date of delinquency, and thereafter
diligently prosecuted, court foreclosure proceedings upon any and
all such delinquent unpaid assessments and interest, pursuant to and
as provided in Sections 8830 through 8835, inclusive, of said
Streets and Highways Code.
17. Non - Arbitrage Covenant The District hereby covenants with the
holders of the bonds that it will make no use of the proceeds of the
bonds at any time during the term thereof which, if such use had
been reasonably expected on the date the bonds were issued, would
have caused the bonds to be arbitrage bonds within the meaning of
Section 103(c) of the Internal Revenue Code of 1954,'as amended, and
the Temporary and Proposed Treasury Regulations promulgated
thereunder.
18. Certificate as to Non - Arbitrage. On the basis of the
facts, estimates and circumstances now in existence and in existence
on the date of issue of the bonds, as determined by the Treasurer,
said Treasurer is authorized to certify that it is not expected that
the proceeds of the issue will be used in a manner that would cause
Ell
}
such obligations to be arbitrage bonds. Such certification shall be
delivered to the purchaser at the time of delivery and payment for
the bonds.
18. Certified Copies The Clerk and ex officio Secretary
shall furnish a certified copy of this resolution to the Treasurer
and to the Auditor of E1 Dorado County and to the Paying Agent.
President
South Tahoe Public Utility District
Attest:
'/
C erk ex o ficio Secre ary
I hereby certify that the foregoing is a full, true and
correct copy of Resolution No. duly and regularly adopted by
the Board of Directors of the South Tahoe Public Utility District,
E1 Dorado County, California, at a meeting thereof duly held on
the 8 day of December, 1978
AYES, and in favor thereof, Directors: Kashuba, Olson, Cocking,
Jones and Fieldcamp
NOES, Directors: None
ABSENT, Directors: None
1 &k A - of fici ecretary
South Ta a e Public Utility District
9
.nl -q %
low
46
71 -1- 47
71 -1- 49
71 -1- 50
71 -1- 52
71 -1- S4
lqw "71 -1- 55
Ii - -1- 56
/1 -1- 60
7i -1- 61
71 -1- Li
1 -1 6S
LIST OF UNPAID ASSESSMENTS
21- 150 -03
21- 190 -07
21- 190 -04
21- 190 -03
21- 190 -06
.1144?"Am
21- 201 -09
21- 410 -11
21 201 -
21-201-07
21- 201 -04
21- 201 -03
21- 210 -02
21 210 -07
21 - 210-OS
21 210 - 01
�i 210 - U'i
2881804.58
"71 -1- by
17, 905.18
1 1 - f
2,147.88
71 -1- 70
7,312.63
7 1 -1- 71
7,562.99
71 -1- 72
71-1- 73
24,011.26
71 -1- 74
178,519.99
71 -1- 75
6,532.13
71 -1- 76
6,945.38
71_1- 7'7
14,759.10
71 -1- 78
13,988.09
71 -1- 79
7,681.61
71_1- 80
6,633.54
71 -1- 111
7,681.61
71 -1- 82
11.067.43
71 -1- 83
6,114.77
71 -1- wl
2 1-2 10 -Oti
1 -2 10 -U.i
21- 210 -06
21 401 -07
21- 401 -08
21 401 -06
21 401 -OS
21- 401 -04
21- 401 -0'9
2 1-401 -03
21- 401 -02
21- 401 -01
2 1--391-07
21- 391 -06
21- 391 -05
21- 391 -04
21 -- 391 -O:i
t
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
11,164.86
7,011.36
14,213.64
11,645.64
4,034.96'
9,762.60
10,937.26
3,106.17
5,062.99
3,106.17
10,925.25
10,889.19
11,281.73
11,756.34
18,100.17
11,043.38
14,81 -0.51
N
South Tahoe Public Utility District
Assessment District 1971 -1
L V EXHIBIT A
ii
.2 9
71 -1 85
21 -391- 08
9,243.58
71 -1 -109
Z l 331 -03
12,446.07
71 -1- 86
21- 391 -09
6,930.53
71 - -! -lit)
21- 331 -02
11,098.11
71 -1- 87
21- 391 -01
14,707.70
71 1 -111
21- 331 -01
12,034.86
71 -1 -- 88
21- 381 -04
10,212.28
71 -1- 113
21- 321 -OS
8,945.92
71 -1- 89
21- 381 -03
11,511.48
71 -1 -114
21 -3 1 -10
12,611.50
71 -1- 90
21- 381 -06
16,506.74
g2M1X1YY.
1kN3MM
71 -1- 91
21- 381 -05
13,124.25
71 -1 -116
21- 321 -03
13,975.29
71 -1- 92
21- 381 -01
9,532.73
71 -1 -117
21- 321 -12
7,562.99
71 -1- 93
21- 371 -05
12,906.63
71 -1 -118
21- 321 --19
8,076.99
71 -1- 94
21- 371 -04
11,965.29
71 -1 -119
21- 321 -17
8,076.99
'fir►
71 -1- 95
21- 371 -03
11
71 -1 -120
21- 321 -13
6,544.15
xK"_Kx)6
M-Xi?7XX41
71 -1 -121
21- 321 -02
14,333.83
XKXK -XXY"K
2AX)MIX44
71 -1- 122
21- 321 -23
15,016.11
71 -1 -102
21- 331 -06
16,815.14
71 -1 -123
21- 321 -24
9,471.94
71 -1 -103
21- 331 -11
6,440.56
71 -1 -124
21- 321 -22
17,072.14
71 -1 -104
21- 331 -10
7,56.2.99
71 -1 -125
21- 321 -15
7,562.99
71 -1 -105
21- 331 -OS
10,563.99
71 -1 -126
21- 311 -2S
7,005.49
%W
71 -1 -106
21- 331 -12
11,161.0
71 -1 -127
21- 311 -24
6,981.44
71 -1 -108
21- 331 -04
3,256.50
71 -1- 128
21- 311 -23
6,969.43
N
South Tahoe Public Utility District
Assessment District 1971 -1
L V EXHIBIT A
ii
Sout! Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
*br
iii
71 -1 -129
21 -31i -17
6,957.41
71 -1 -158
21- -261 -35
5,557.60
14W
71 -1 -130
21- 311 -16
6,945.38
71- 1- -159
21- 261 -29
6,717.00
71 -1 -131
21- 311 -15
6,933.37
71 -1 -1oU
21- 261 -23
6,460.00
71 -1 -132
21- 311 -14
6,933.37
71 -1- 161
21- 261 -15
6,867.89
71 -1 -133
21- 311 -12
6,933.37
71 -1 -162
21- 261 -20
6,484.05
71 -1 -134
21- 301 -14
6,873.27
71 -1 -163
21- 261 -22
6,955.35.
71 -1 -135
21- 301 -13
6,849.24
)MX-A)XAk
71 -1 -136
21- 301 -12
6,801.16
71 -1 -165
21- 261 -16
7,579.60
71 -1 -137
21- 301 -15
6,795.11,
71 -1 -166
21- 261 -17
7,202.39
l
71 -1 -138
21- 301 -16
6,704.99
71 -1 -166
21- 261•-03
8,334.00
XxKxay -xm
71 -1 -169
21- 281 -11
7,214.42
71 -1 -140
21- 281 -18
6,471.69
71 -1 -170
21- 281 -04
8,076.99
71 -1 -141
21- 281 -17
6,986.04
71 -1 -171
21-301 -10
10,904.03
71 -1 -142
21- 281 -16
9,105.00
71 -1 -172
21- 301 -05
6,236.14
71 -1 -143
21- 261 -12
7,036.18
71 -1 -173
21- 301 -06
6,094.54
71 -1 -153
21- 261 -34
6,123.47
71 -1 -174
21- 301 -11
8.076.99
71 -1 -155
21- 261 -33
5,549.35
71 -1 -175
21- 301 -09
6,825.19
%W
71 -1 -156
21- 261 727
6,452.59
71 -1 -176
21- 311 -07
7,723.83
22xx}13x
xxxa(ax-=
xpom)m
71 -1 -178
21- 311 -27
7,819.99
Sout! Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
*br
iii
Coupon
Bond Nos.
1
2 -8
9 -20
21 -34
35 -49
50 -65
66 -70
71 -86
87 -91
92 -108
109 -113
114 -132
133 -137
138 -158
159 -163
164 -186
+or 187 -191
192 -216
217 -221
222 -248
249 -278
279 -311
312 -347
SOUTH TAHOE PUBLIC UTILITY DISTRICT
ASSESSMENT DISTRICT 1971 -1
$1,594,041 IMPROVEMENT BONDS, SERIES 1971 -1B
Denomination
4,041
5,000
5,000
5,000
5,000
5,000
1,000
5,000
1,000
5,000
1,000
5,000
1,000
5,000
1,000
5,000
1,000
5,000
1,000
5,000
5,000
5,000
5,000
Principal
Amount
$ 4,041
35,000
60,000
70,000
75,000
80,000
5,000
80,000
5,000
85,000
5,000
95,000
5,000
105,000
5,000
115,000
5,000
125,000
5,000
135,000
150,000
165,000
180,000
TOTAL
$1,594,041
EXHIBIT "B"
Maturity
Date
Jul 2
1980
1980
1981
1982
1983
1984
1985
1985
1986
1986
1987
1987
1988
1988
1989
1989
1990
1990
1991
1991
1992
1993
1994
,:2/-9 4
EXHIBIT A
fir
iv
71- 1 - -1i''j
21- 311 -26
1,969.07
xxxx -xx=
"x)01 c v
4 1 ,
"ftv
UdtEIxtka
xx- xxKx-xxhC
71 -1 -200
21- 251 -09
29,798.34
71 -1 -181
21- 311 -10
8,076.99
Y1 -1 -201
21- 251 -111
30,055.33
7AXIXI$I
YW3=Axx
71 -1 -202
21- 251 -13
8,848.00
71 -1 -183
21- 311 -20
8,138.84
71 -1 -203
21- 241 -01
36,604.49
71 -1 -184
21- 311 -19
9,195.49
71 -1 -204
21- 231 -01
16,146.92
71 -1 -185
21- 311 -03
13,612.09
71 -1- 214
21- 261 -36
6,255.68
71 -1 -186
21- 311 -02
9,047.85
71 -1 -215
21- 251 -18
11,353.11
7 > M
vAx333X3,x
71 -1 -216
21- 251 -17
11,353.11
` w
71 -1 -188
21- 301 -23
8,263.63
71 -1 -217
21- 251 -16
11,353.12
- 71 -1 -189
21- 301 -21
16,301.14
TOTAL $1,744,041.00
71 -1 -190
21- 301-2 2
8,263.63
71 -1 -191
21- 301 -20
6,841.81
71 -1 —M,
21- 301 -19
10,813.76
71 -1 -194
21- 281 -15
20,053.39
71 -1 -195
21- 261 -32
18,048.76
71 -1 -196
21- 261 -30
20,258.99
%W
71-- 1 -rj7
21- 261 -02
17,843.16
71- 1 -19b.
21- 261 -01
11,303.07
South Tahoe Public Utility DiStricL
Assessment
District 1971 -1
EXHIBIT A
fir
iv
/w -7 �;
low COUPON BOND FORM. The coupon bonds shall be substantially in the following
form:
UNITED STATES OF AMERICA
STATE OF CALIFORNIA COUNTY OF EL DORADO
SOUTH TAHOE PUBLIC UTILITY DISTRICT
IMPROVEMENT BOND
ASSESSMENT DISTRICT 1971 -1
SERIES 1971 -1B
BOND NO.
Under and by virtue of the Improvement Bond Act of 1915, Division 10 of
the Streets and Highways Code, the South Tahoe Public Utility District, in the
County of El Dorado, State of California, will, on the second day of July ,
19 , out of the redemption fund for the payment of the bonds issued upon the
unpaid portion of the assessments made for the acquisition, work and
improvements more fully described in the proceedings taken pursuant to
Resolution of Intention No. 1676, adopted by the Board of Directors of said
District on the 6th day of April, 1972, pay to bearer (or, if this bond is
,/ registered as herein provided, to the registered owner hereof) the sum of
Dollars ($ ) with interest
thereon from the 2nd day of December, 1978, at the rate of percent
( %) per annum, all as is hereinafter specified, and at Bank of
America National Trust and Savings Association, the Paying Agent of the
District's Treasurer, at its principal office in San Francisco, California.
This bond is one of several annual series of bonds of like date, tenor
and effect, but differing in *(interest rates), amounts and maturities, issued
by said City under said law for the purpose of providing means for paying for
the acquisition, work and improvements described in said proceedings, and is
secured by the moneys in said redemption fund and by the unpaid portion of the
assessments made for the payment of said acquisition, work and improvements,
and, including principal and interest, is payable exclusively out of said fund.
The interest is payable semiannually, to wit: On the second days of
January and July in each year hereafter, upon presentation of the proper
coupons therefor; provided, that the first of said coupons is for the interest
to the second day of January, 1980, and thereafter the interest coupons are
for the semiannual interest.
This bond will continue to bear interest after maturity at the rate
above stated; provided, it is presented at maturity and payment thereof is
refused upon the sole ground that there is not sufficient money in said
redemption fund with which to pay same; if it is not presented at maturity,
interest thereon will run until maturity.
*delete if only one interest rate
EXHIBIT "C"
This bond may be registered as to principal and interest or as to
principal only, with the privilege of transfer, discharge from registration
�rrr and successive registration, upon written request of the owner and
presentation of the bond to the Paying Agent and payment of the charges, if
any, all as set forth in the resolution providing for the issuance hereof.
This bond may be redeemed and paid in advance of maturity upon the
second day of January or July in any year by giving the notice provided in
said law and by paying principal and accrued interest together with the
premium equal to five per centum of the principal.
IN WITNESS WHEREOF, said South Tahoe Public Utility District
has caused this bond to be signed by the Treasurer of E1 Dorado County and ex
officio Treasurer of said District, and by its Clerk and ex officio Secretary,
has caused the coupons attached hereto to be signed by the said Treasurer, and
has caused said Clerk and ex officio Secretary to affix hereto its official
seal, all on the 2nd day of December, 1978.
Clerk and ex officio Secretary
South Tahoe Public Utility District
(SEAL)
Treasurer of El Dorado
Ex officio Treasurer of South
Tahoe Public Utility District
COUPON FORM The coupons to be attached to the coupon bonds shall be
substantially in the following form:
THE SOUTH TAHOE PUBLIC UTILITY DISTRICT,
E1 Dorado County, California, will,
on the due date hereof,unless the bond
specified herein is redeemed prior thereto,
pay to bearer the sum hereon at, Bank of
America National Trust and Savings Associa-
tion, the Paying Agent of the District's
Treasurer, at its principal office in San
Francisco, California, as interest on its
IMPROVEMENT BOND designated ASSESSMENT DISTRICT
1971 -1, SERIES 1971 -1A, dated December 2, 1978.
Treasurer of El Dorado County and ex officio
Treasurer of South Tahoe Public Utility District
Due 2,
Coupon No.
No.
REGISTRATION FORM The form of endorsement for registration on the
coupon bonds shall be substantially as follows:
This bond is registered in the name of the registered owner last entered
below and both the principal of and interest on this bond are payable only to
such owner, unless registered as to principal only, in which event the
principal is so payable; provided, however, that this bond may be registered
to bearer and thereby discharged from registration and the negotiability
hereof restored.
EXHIBIT "C"
(ii)
Note: No writing below except by the Paying Agent of the City of
f San Jose.
IM
Date of Type of Name and Address Signature of
Registry Registration* of Registered Owner Paying Agent
Principal only
and Interest
Principal only
and Interest
Principal only
and Interest
Principal only
and Interest
*If registration is as to principal only, strike the words "and
Interest "; if as to principal and interest, strike the word "only ".
im
EXHIBIT "C"
iii
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