Resolution No. 2131. A Y
RESOLUTION NO. 2131
A RESOLUTION DETERMINING THAT THE ISSUANCE OF DISTRICT
BONDS IS NOT SUBJECT TO PRIOR INVESTIGATION, REPORT
AND APPROVAL BY THE OFFICE OF THE STATE TREASURER,
DISTRICT SECURITIES DIVISION
SOUTH TAHOE PUBLIC UTILITY DISTRICT
ASSESSMENT DISTRICT 1971 -1
Fallen Leaf Area
RESOLVED, by the Board of Directors of the South Tahoe Public
Utility District, E1,Dorado County, California, as follows:
1. The South Tahoe Public Utility District, herein called
"District," is a public utilities district formed pursuant to the
provisions of the Public Utility District Act (Division 7 of the
Public Utilities Code of the State of California).
2. This Board proposes to issue on or after November 2, 1978,
subdistrict bonds in the approximate amount of $1,880,81.7.00 for
Assessment District 1971 -1 (Fallen Leaf Lake Area). The bonds for
said assessment district will be designated "Improvement Bonds,
South Tahoe Public Utility District, Assessment District 1971 -1."
The amount of the bonds to be issued will not exceed the amount set
forth above and may be somewhat less than said amount by reason of
cash payments made by the owners of property prior to issuance of
the bonds. Such bonds are to be issued by District under the
Improvement Bond Act of 1915. Said special assessment district
comprises less than the entire territory of District.
3. Section 58753 of the District Securities Investigation Law
of 1976 (Chapterr 2.5, Division 2, Title 6 of the Government Code of
r the State of California) provides, in part, that the issuance of
subdistrict bonds shall be subject to prior investigation, report
and approval by the State Treasurer, District Securities Division,
whenever the sum of the following amounts shall exceed 200 percent
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of the assessed value of land and improvements within thA
subdistrict as shown on the .last equalized county assessment roll:
(1) An amount equal to the subdistrict's share of any
outstanding District indebtedness, such share being in the
proportion that the assessed value of land and improvements within
the territory of such subdistrict bears to the assessed value of
land and improvements within the entire territory of the District;
(2) An amount equal to the unpaid principal amount of all
subdistrict bonds theretofore issued for said subdistrict;
(3) The principal amount of the proposed bonds. The sum of
the amounts specified at (1) , (2) and (3) above with respect to the
subdistrict described in paragraph 2 hereof does not exceed 200
percent of the assessed value of land and improvements within said
subdistrict as shown on the last equalized county assessment roll.
(See Exhibit A attached hereto and made a part hereof.)
4. This Board hereby determines that the issuance of the
subdistrict bonds set forth in paragraph 2 hereof is not subject to
prior investigation, report and approval by the State Treasurer.
5. The Secretary is directed to file a certified copy of this
resolution with the State Treasurer at least fourteen (14) days
prior to date of the issuance of the bonds.
L' rrene L. Kashuba, President
South Tahoe Public Utility District
ATTEST:
Clerk of Board & Ex- Officio Secretary
South Tahoe Public Utility District
I hereby certify that the foregoing is a full, true and
correct copy of Resolution No. , duly and regularly adopted by
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the Board of Directors of the SOUTH TAHOE PUBLIC UTILITY DISTRICT E1
Dorado County, California, at a meeting thereof duly held on the2lst
day of September , 1978, for the following vote:
AYES,Directors Olson, Cocking, Fieldcamp, Jones and Kashuba
NOES,None
ABSENT,None
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Clerk and ex officio Secretary
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A ✓
0040A -15a
Subdistrict's share: 0.0305 x 5,930,876 =
(2) Unpaid principal amount of prior issued
subdistrict bonds
(3) Principal amount of proposed bonds
Total of (1) , (2) and (3)
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09/08/78
A. Assessed value of land and improvements (1977 -78 roll):
Within subdistrict $ 5,315,000
Within District $174,352,347
Proportion that subdistrict assessed value bears to District
assessed value: 5,315,000 : 174,352,347 = 0.0305
B. (1) District's outstanding indebtedness:
General obligation bonds
Sewer Revenue bonds
Existing State Loan
Accrued Interest on State loan (a)
Voter approved State loan (b)
Total
$1,766,000
1,735,000
471,195
258,681
1,700,000
5,930,876
$ 180,892
1,880,817
$2,061,709
r. Percentage of subdistrict assessed value represented by sum of
(1), (2) and (3): 2,061,709 z 5,315,000 38.79%
(a) long term payoff permitted
(b) loan not yet obtained
South Tahoe Public Utility District
Exhibit A
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