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Resolution No. 2013 RESOLUTION NO .0 A RESOLUTION OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT AUTHORIZING THE EXECUTION OF CONTRACT BETWEEN EL DORADO COUNTY WATER AGENCY AND SOUTH TAHOE PUBLIC UTILITY DISTRICT BE IT RESOLVED by the Board of Directors of the SOUTH TAHOE PUBLIC UTILITY DISTRICT, County of El Dorado, State of California, as follows: 1. The President of the Board is hereby authorized to execute a contract between El Dorado County Water Agency and South Tahoe Public Utility District, a copy of which is attached hereto and made a part hereof. 2. The Clerk of the South Tahoe Public Utility District is hereby directed to attest to said President's signature and affix thereto the corporate seal of said District. PASSED AND ADOPTED by the Board of Directors of the South Tahoe Public Utility District at its duly held regular meeting on the 20th day of May, 1976, by the following vote: AYES, Directors: Cocking, Fieldcamp, Fesler, Hegarty and Kashuba NOES, Directors: None ABSENT, Directors: None Edward Hegarty, Pres• nt � of e Board SOUTH TAHOE PUBLI UTILI DISTRICT ATTEST: ( se,. / : L-4 z David W. Callahan, Clerk and Ex- officio Secretary of the Board SOUTH TAHOE PUBLIC UTILITY DISTRICT * * * * * * * * * * * * * * * * * * * * * * * * * * ** I hereby certify that the foregoing is a full, true and correct copy of RESOLUTION NO. c2_4(9/2 , duly and regularly adopted by the Board of Directors of the SOUTH TAHOE PUBLIC UTILITY DISTRICT, El Dorado County, California. 6 - ) C a — et-h-A David W. Callahan, Clerk and Ex- officio Secretary of the Board SOUTH TAHOE PUBLIC UTILITY DISTRICT 7' CONTRACT BETWEEN EL DORADO COUNTY WATER AGENCY AND SOUTH TAHOE PUBLIC UTILITY DISTRICT THIS CONTRACT entered into this day of 1976, by and between EL DORADO COUNTY WATER AGENCY, hereinafter referred to as "AGENCY ", and the SOUTH TAHOE PUBLIC UTILITY DISTRICT, hereinafter referred to as "DISTRICT". W I T N E S S E T H Ohly WHEREAS, DISTRICT has agreed to purchase TAHOE KEYS WATER COMPANY, INC., hereinafter called "TAHOE KEYS ", which owns and operates a water supply and domestic and fire pro- tection water system within the boundaries of DISTRICT, which purchase is subject to all orders and approvals of the Public Utilities Commission of California; and WHEREAS, AGENCY has heretofore determined that DISTRICT is the desirable local agency to provide a public water supply and distribution system in the service area of DISTRICT; and WHEREAS, DISTRICT requires a contract with AGENCY to provide some financing necessary to purchase the said TAHOE KEYS water system, to provide a public water supply and distri- bution system in a portion of the service area of DISTRICT; and WHEREAS, AGENCY has determined it would be in the best public interest to contract with DISTRICT to provide DISTRICT with some financing necessary to acquire the said TAHOE KEYS water system to provide a public water supply and distribution system in a portion of the service a1 ca of DISTRICT; and , 1 thre WHEREAS, AGENCY has determined that said contract for some financing should provide for an interest free loan to DISTRICT apyable within seven (7) years from the effective date of this contract; NOW, THEREFORE, IT IS MUTUALLY AGREED by and between the parties as follows: 1. AGENCY will loan DISTRICT the sum of Eighty Thousand Dollars ($$0,000.00) when this contract becomes effective. 2. DISTRICT shall repay said loan in annual install- ,- ments, as follows: a. $5,000.00 one year after this contract becomes effective; b. $10,000.00 two years after this contract becomes effective; c. $10,000.00 three years after this contract becomes effective; d. $10,000.00 four years after this contract becomes effective; e. $15,000.00 five years after this contract becomes effective; f. $15,000.00 six years after this contract becomes effective; g. $15,000.00 seven years after this contract becomes effective. 3. DISTRICT shall use the loan proceeds of $$0,000.00 to purchase the TAHOE KEYS water system. 4. The obligation of DISTRICT to pay the amounts specified in Agreement 2 above is a special obligation payable solely from the revenues from the operat;on of T1;HOE KEYS, subject to the following conditions: 2. a. After revenues received by DISTRICT from TAHOE KEYS which are sufficient to'meet the necessary and reasonable maintenance, operation and administration costs of TAHOE KEYS water system, which costs shall include the reason- able expenses of management, operation and other expenses necessary to maintain and preserve the TAHOE KEYS water system in good working order, all of the next revenues are pledged by DISTRICT to the payment of the obligation specified in Agree- ment 2 until the revenues are sufficient to meet the next annual payment due AGENCY by DISTRICT. b. DISTRICT agrees that it will at all times during the term of this contract establish, maintain and collect for water services, facilities and water of TAHOE KEYS furnished to its customers, charges sufficient to provide revenues for the necessary and reasonable maintenance, opera- tion and administration costs of the TAHOE KEYS water system, and to provide revenues for the payment of the obligation specified in Agreement 2 herein. c. No recourse shall be had for payment of the amount specified in Agreement 2 or any part thereof against the General Fund of DISTRICT, nor shall its credit or taxing power be deemed to be pledged thereto, and the right to compel the exercise of the taxing power of the DISTRICT or the forfeiture of any of its property for the payment of said amounts shall not exist. 5. This agreement shall be effective upon the necessary orders and approvals of the Public Utilities Commission for fulfillment° the terms of the agreement of DISTRICT for the prrchase of TAHOE KEYS. 3. Dated: , 1976. EL DORADO COUNTY WATER AGENCY By _ - W.`P P. - UWI 'ER , C�iairrnan ATTEST: Carl A. Kelly, County Clerk Secretary to the Agency By__ Secretary Designate 4Ww Dated: , 1976. SOUTH TAHOE PUBLIC UTILITY DISTRICT By rresident of the Board of Directors ATTEST: fkilw er 4.