Resolution 2970-15�'� 1 RESOLUTION NO. 2970-15
2 PLEDGED REVENUES AND FUND(s) RESOLUTION
3 OF THE BOARD OF DIRECTORS OF THE
50UTH TAHOE PUBLIC UTILITY DISTRICT
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5 WHEREAS, the South Tahoe Public Utility District has adopted the Clean Water
6 State Revolving Fund Resolution regarding intent, authority and procedure;
7 THEREFORE, BE IT RESOLVED, the South Tahoe Public Utility District (the "Entity")
$ hereby dedicates and pledges Sewer Enterprise Fund/Sewer Service Charge Revenues
to payment of any and all Clean Water State Revolving Fund and/or Water Recycling
9 Funding Program Financing for Diamond Valley Ranch Irrigation Improvements Project
(the "Project"). The Entity commits to collecting such revenues and maintaining such
10 fund(s) throughout the term of such financing and until the Entity has satisfied its
11 repayment obligation thereunder unless modification or change is approved in writing
by the State Water Resources Control Board. So long as the financing agreement(s) are
12 outstanding, the Entity's pledge hereunder shall constitute a lien in favor of the State
Water Resources Control Board on the foregoing fund(s) and revenue(s) without any
13 further action necessary. So long as the financing agreement(s) are outstanding, the
14 Entity commits to maintaining the fund(s) and revenue(s) at levels sufficient to meet its
obligations under the financing agreement(s).
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16 WE, THE UNDERSIGNED, do hereby certify that the above and foregoing
Resolution No. 2970-15 was duly adopted and passed by the Board of Directors of the
�7 South Tahoe Public Utility District at a regularly scheduled meeting held on the 5'h day of
February, 2015, by the following vote:
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19 AYES: Cefalu, Jones, Vogelgesang, Sheehan, Wallace
20 None
NOES:
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22 ABSENT: None
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Randy Vogelgesang, Board President
24 South Tahoe Public Utility District
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26
ATTEST:
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� .
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29 Melonie Guttry, Clerk of the Board
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