Resolution No. 2088r
RESOLUTION NO. 2088
WJML:RJH :K :ram 8/26/77
A RESOLUTION PROVIDING FOR ISSUANCE OF BONDS
FIRST SALE - $150,000
SOUTH TAHOE PUBLIC UTILITY DISTRICT
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, in proceedings conducted by this Board under and pursuant
to its Resolution of Intention No. 1676, adopted April 6, 1972, this Board
- has provided that serial bonds will be issued to represent the unpaid assess-
m eets pursuant to the Improvement Bond Act of 1915, reference to said Reso-
lution of Intention and the proceedings thereunder duly had and taken hereby
being expressly made for further particulars;
WHEREAS, Notice of the recordation of the assessment and of the
time within which the separate assessments upon said assessment may be
paid in whole or in part has been duly published and mailed in the manner
provided by law, and a list of all assessments upon said assessment has been
filed with the Treasury of E1 Dorado County, the ex officio Treasurer of this
District;
NOW, THEREFORE, IT IS HEREBY ORDERED, as follows:
1. List of Assessments That the assessments shown on said list
of Assessments are shown on Exhibit A attached hereto and by reference
�4 ade a part hereof, that the aggregate amount thereof is $1,347,012.37,
and that for a particular 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 by this Board,
the several lots or parcels of land represented by said assessment numbers
being so numbered and designated upon said diagram and assessment as so
confirmed and recorded, severally and respectively.
. z '
_ 2. Issue Bonds in the amount of $150,000.00 shall be issued
upon the security of said assessments in accordance with the provisions
of the Improvement Bond Act of 1915 (Division 10 of the Streets and High-
ways Code) and under and pursuant to the provisions of said Resolution of
Intention and the proceedings thereunder duly had and taken. Jurisdiction
is hereby reserved by this Board to issue additional bonds in one or more
increments as funds are required for the project, which bonds, together
with the bonds herein authorized, shall not exceed in aggregate the total
amount of the unpaid assessments as shown on a list to be filed with said
Treasurer after the expiration of the period in which to pay assessments
in cash. The bonds herein provided to be issued shall be known as "Improve-
ment Bonds, South Tahoe Public Utility District, Assessment District 1971 -1,
Series 1971 -1A," be dated September 2, 1977, be numbered, of the denominations
and mature on the dates and in the amounts as set forth in Exhibit B hereto
attached and by this reference made a part hereof.
3. Interest. Said bonds shall bear interest from their date at
the rate or rates determined by this Board at the time of sale of said
bonds (not to exceed eight percent (8 %) per annum), payable on January 2,
1979, and semiannually thereafter 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 provided for herein with which to pay same; if
not presented at maturity, interest thereon will run only until maturity.
4. 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 principal only shall be paid. by check, draft or
warrant mailed to the registered owner at the registered owner's address
as the same appear on the register maintained by the Paying Agent.
• -2-
5. Form. The bonds, the registration endorsement thereon and
the coupons to be attached to the bonds shall be substantially in the
forms set forth in Exhibit C hereto attached and by this reference
made a part hereof.
6. 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, shall be executed by the
Treasurer whose signature may be reproduced on the bonds and 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 coupons thereof, respectively.
If any officer whose signature or countersignature appears on
the bonds ceases to be such officer before the delivery of the bonds to
the purchaser, such signature or countersignature shall be as valid as
if such officer had remained in office until the delivery of the bonds.
7, Proceeds of Sale of Bonds The proceeds received from the
sale of the bonds, including any premium, shall be placed in the fund
for the acquisition and construction of the project, except that any
interest accrued from the date of the bonds to the date of delivery there-
of shall be placed in the redemption fund provided for herein.
8. Redemption Fund The Treasurer shall keep a redemption fund
designated by the name of the bonds, into which shall be placed any accrued
interest and all suns received from the collection of unpaid assessments
provided for in Section 9 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.
9. Collection of Unpaid Assessments. The unpaid assessments
shown on said list to be filed with the Treasurer, 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
-3-
to pay the bonds when due, and such proportion of each unpaid assessment
:oming 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 in-
stallments as the general taxes of the District on real property are pay-
able, and become delinquent at the same times and in the same proportionate
amounts and bear the same proportionate penalties and interest after de-
linquency as do the general taxes on real property of 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.
10. Callable Each of the bonds may be redeemed and paid in
advance of maturity upon the second day of January or July in any year
after their date by giving at least 60 days notice and by paying the prin-
cipal amount thereof together with a premium equal to 5% of the principal
lus 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 the advance
payment of assessments and to the calling of bonds.
11. Books of Registration The Paying Agent as bond registrar
shall maintain sufficient books for the registration and transfer of the
bonds, and, upon presentation 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, on said
register, the bonds as herein provided.
12. Registration of Bonds Each of said bonds may be registered
as to both principal and interest or as to principal alone, upon the
written request of the holder and presentation of the bond to the Paying
Agent for such purpose.
(a) Principal and Interest When a 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
-4-
the bond, the name and address of the holder in whose name it is
to be registered, and the date of such registration shall be
entered in the book of registered bonds required to be maintained
by the Paying Agent pursuant to Section 11 hereof, and a notation
shall be made therein and on the bond that registration is as
to both principal and interest. 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.
(b) Principal Only When a bond is presented for registra-
tion as to principal only, the number of the bond, the name and
address of the holder in whose name it is to be registered, and
the date of such registration shall be entered in the book of
registered bonds, and a notation shall be made therein and on
the bond that registration is 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 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 bond may be transferred only by
the registered owner, in person or by attorney duly authorized, 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.
(d) Deregistration A registered bond 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 appro-
priate endorsement on the bond and in the registry book, cause all
unmatured coupons that have been removed from the bond,to be reat-
tached to the bond (such coupons to be reprinted, if necessary),
and deliver the bond and coupons to the owner, and thereupon
-5-
negotiability and transferability by delivery shall be
restored. Until registered again, the principal of the
bond and the interest thereon shall be payable when due
to the person surrendering the coupons and bond to the
Paying Agent.
(e) Reregistration Deregistered bonds may be regis-
tered again in the manner heretofore provided.
(f) Charges The person requesting registration,
transfer, or deregistration shall pay the Paying Agent's
charges therefor, including any cost of reprinting the
coupons and any tax or other governmental charge required
to be paid with respect thereto.
13. 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, the Treasurer is authorized to certif y that
it is not expected that the proceeds of the issue will be used in a man-
ner that would cause such obligations to be arbitrage bonds. Such
certification shall be delivered to the purchaser together with the
bonds.
14. The Clerk and ex officio Secretary shall forward
certified copies of this resolution to the Treasurer and to the Auditor
of El Dorado County.
ATTEST:
rest ent/
South Tahoe Public Utklity istrict
WO / � �/-� I
WO N
M
ASSESSNIENT ROLL
ASSESSMENT DISTRICT 1971 -1
AS AMENDED BY RESOLUTION NOS 2076 & 2078
71 -1- 67
71 - -1- 6,i
71 -1- 70
71 -1- 71
71 -1- 72
71 -1- 73
71 -1- 74
71 -1- 75
71 -1- 76
71 -1- 77
71 -1- 78
71 -1- 79
71 -1- 80
71 -1- 81
71 -1- 82
71 -1- 83
71 -1- 84
21- 210 -08
21- 210 -03
21- 210 -06
21- 401 -07
21- 401 -08
21- 401 -06
21- 401 -05
21- 401 -04
21- 401 -09
21- 401 -03
21- 401 -02
21- 401 -01
21- 391 -07
21- 391 -06
21- 391 -05
21- 391 -04
21- 391 -03
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
7,994.05
5,020.14
10,176.98
8,338.29
4,679.04
7,831.09
7,831.09
7,831.09
5,415.11
7,831.09
7,822.49
7,796.67
8,077.73
8,417.56
12,959.74
7,907.07
10,604.34
71 -1-
46
21- 150 -03
206,784.38
71 -1-
47
21- 190 -07
12,820.13
71 -1-
49
21- 190 -04
5,415.11
71 -1-
50
21- 190 -03
5,235.85
71 -1-
52
21- 190 -06
5,415.11
71 -1-
53
21- 190 -05
5,525.51
71 -1-
54
21- 190 -09
17,192.10
71 -1-
55
21- 410 -11
127,820.50
71 -1-
56
21- 201 -08
4,677.01
71 -1-
57
21- 201 -07
4,972.90
71 -1-
60
21- 201 -04
10,567.53
71 -1-
61
21- 201 -03
10,015,49
71 -1-
62
21- 2 - 10 -02
5,500.04
71 -1-
63
21- 210 -07
5,465.62
71 -1-
64
21- 210 -05
5,500.04
71 -1-
65
21- 210 -01
7,924.29
71 -1-
66
21- 210 -09
4,378.18
71 -1- 67
71 - -1- 6,i
71 -1- 70
71 -1- 71
71 -1- 72
71 -1- 73
71 -1- 74
71 -1- 75
71 -1- 76
71 -1- 77
71 -1- 78
71 -1- 79
71 -1- 80
71 -1- 81
71 -1- 82
71 -1- 83
71 -1- 84
21- 210 -08
21- 210 -03
21- 210 -06
21- 401 -07
21- 401 -08
21- 401 -06
21- 401 -05
21- 401 -04
21- 401 -09
21- 401 -03
21- 401 -02
21- 401 -01
21- 391 -07
21- 391 -06
21- 391 -05
21- 391 -04
21- 391 -03
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
7,994.05
5,020.14
10,176.98
8,338.29
4,679.04
7,831.09
7,831.09
7,831.09
5,415.11
7,831.09
7,822.49
7,796.67
8,077.73
8,417.56
12,959.74
7,907.07
10,604.34
71 -i- -85
71 -1- 86
71 -1- 87
71 -1- 88
71 -1- 89
71 -1- 90
71 -1- 91
71 -1- 92
71 -1- 93
71 -1- 94
71 -1- 95
71 -1- 96
71 -1- 97
71 -1 -102
71 -1 -103
71 -1 -104
71 -1 -105
71 -1 -106
71 -1 -108
21- 391 -08
21- 391 -09
21- 391 -01
21- 381 -04
21- 381 -03
21- 381 -06
21- 381 -05
21- 381 -01
21- 371 -05
21- 371 -04
21- 371 -03
21- 371 -02
21- 371 -01
21- 331 -06
21- 331 -11
21- 331 -10
21- 331 -05
21- 331 -12
21- 331 -04
6,618.41
71 -1 -109
= 1,962.27
71 -1 -110
10,530.73
71 -1 -111
7,312.00
71 -1 -113
9,316.23
71 -1 -114
11,818.84
71 -1 -115
9,396.98
71 -1 -116
8,973.45
71 -1 -117
9,241.16
71 -1 -118
8,567.16
71 -1 -119
8,529.44
71 -1 -120
7,104.54
71 -1 -121
9,012.64
71 -1 -122
12,039.66
71 -1 -123
4,611.45
71 -1 -124
5,415.11
71 -1 -125
7,563.40
71 -1 -126
7,991.31
71 -1 -127
13,210•.10
71 -1-128
21- 331 -03
21- 331 -02
21- 331 -01
21- 321 -05
21- 321 -10
21- 321 -09
21- 321 -03
21- 321 -12
21- 321 -19
21- 321 -17
21- 321 -13
21- 321 -02
21- 321 -23
21- 321 -24
21- 321 -22
21- 321 -15
21- 311 -25
21- 311 -24
21- 311 -23
8,911.40
7,946.26
8,616.97
6,405.29
9,029.85
5,793.00
10,006.32
5,415.11
5,783.13
5,783.13
4,685.62
10,263.04
10,751.55
6,781.92
12,223.67
5,415.11
5,015.94
4,998.72
4,990.12
0
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
ii
ti
71 -1 -129
21- 311 -17
" /1 -1 -i-8
21- 2 61 -35
4,445.65
71 -1 -130
21- 311 -16
.1 -I -159
21- 261 -29
4,809.38
71 -1 -131
21- 311 -15
4,.3
71 -1- 160
21- 261 -23
4,625.37
71 -1 -132
21- 311 -14
4,964.30
71 -1 -161
21- 261 -15
4,917,42
71 -1 -133
21- 311 -12
4,964,30
71 -1 -162
21- 261 -20
4,642.59
71 -1 -134
21- 301 -14
4,921.27
71 -1 -163
21- 261 -22
4,980.04
71 -1 -135
21- 301 -13
4,904.06
71 -1 -164
21- 261 -10
5,409.78
71 -1 -136
-21- 301 -12
4,869,64
71 -1 -165
21- 261 -16
5,427.00
71 -1 -137
21- 301 -15
4,252.42
71 -1 -166
21- 261 -17
5,156.92
71 -1 -138
21- 301 -16
4,800.78
71 -1 -168
21- 281• -03
5,967.15
71 -1 -139
21- 281 -10
4,813.00
71 -1 -169
21- 281 -11
5,165.53
71 -1 -140
21- 281 -18
4,633.74
71 -1 -170
21- 281 -04
5,783.13
71 -1 -141
21- 281 -17
5,: "02.01
71 -1 -171
21-- 301 -10
7,807,30
71 -1 -142
21- 281 -16
6,519.19
71 -1 -172
21- 301 -05
5,007.33
71 -1 -143
21- 261 -12
5,037.91
71 -1 -173
21- 301 -06
4,895.45
71 -1 -153
. 21- 261 -34
4,384.41
71 -1 -174
21- 301 -11
5,783.13
71 -1 -155
21- 261 -33
3,973.34
71 -1 -175
21- 301 -09
4,886.84
71 -1 -156
21- 261 -27
4,620.06
71 -1 -176
21- 311 -07
5,530.27
71 -1 -157
21- 261 -28
4,757.76
71 -1 -178
21- 311 -27
5,599.12
South Tahoe Public Utility District
Assessment Distract 1971 -1
EXHIBIT A
iii
M
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
iv
in
71 -1 -179
21- 31
;,: �.
I1 -1 -1J0
- 251 -10
21 ,151.62
71 -1 -180
21- 311 -22
= , =i � " %.�L'
71 - 1 -200
21- 251 -09
21,335.64
71 -1 -181
21- 311 -13
= •,i 3.13
71 - 1 1 -201
21- 251 -14
21,519.65
71 -1 -182
21- 311 -06
8, 61.00
71 -1 -202
21- 251 -13
6,335.18
71 -1 -183
21- 311 -20
5,827.2
71 -1 -203
21- 241 -01
26,208.85
71 -1 -184
21- 311 -19
6,583.98
71 -1 -204
21- 231 -01
11,561.21
71 -1 -185
21- 311 -03
10,935.56
71 -1 -214
21- 261 -36
4,479.07
71 -1 -186
21- 311 -02
7,257.93
Total $
1,347,012,37
71 -1 -187
21- 311 -01
7,7;.67
71 -1 -188
21- 301 -23
5,916.77
71 -1 -189
21- 301 -21
11,671.63
71 -1 -190
21- 301 -22
x,916.77
71 -1 -191
21- 301 -20
4,c:,'8.74
71 -1 -192
21- 301 -19
7,742.66
71 -1 -194
21- 281 -15
14,358.25
71 -1 -195
21- 261 -32
12,922.93
71 -1 -196
21- 261 -30
14,505.46
r71 -1 -197
21- 261 -02
12,775'.72
71 -1 -198
21- 261 -01
9,095.41
South Tahoe Public Utility District
Assessment District 1971 -1
EXHIBIT A
iv
in