Resolution No. 3013-16 Primary Clarifier No. 1 1 RESOLUTION NO. 3013-16
2 A RESOLUTION BY THE BOARD OF DIRECTORS
3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
FOR PLEDGING REVENUES AND FUND(S) FOR THE
4 PRIMARY CLARIFIER 1 PROJECT
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6 WHEREAS, the South Tahoe Public Utility District has adopted Clean Water State
7 Revolving Loan Fund Resolutions regarding intent, authority and procedure;
8 NOW, THEREFORE BE IT RESOLVED:
9 1 . South Tahoe Public Utility District (the "Entity") hereby dedicates and pledges
10 net revenues of the Sewer Enterprise Fund and the Sewer Enterprise Fund to
11 payment of any and all Clean Water State Revolving Fund and/or Water
12 Recycling Funding Program financing for Treatment Plant Primary Clarifier 1
13 #8057-110 (the "Project").
14 2. The Entity commits to collecting such revenues and maintaining such fund(s)
15 throughout the term of such financing and until the Entity has satisfied its
16 repayment obligation thereunder unless modification or change is approved
17 in writing by the State Water Resources Control Board.
18 3. So long as the financing agreement(s) are outstanding, the Entity's pledge
19 hereunder shall constitute a lien in favor of the State Water Resources Control
20 Board on the foregoing fund(s) and revenue(s) without any further action
21 necessary.
22 4. So long as the financing agreement(s) are outstanding, the Entity commits to
23 maintaining the fund(s) and revenue(s) at levels sufficient to meet its
24 obligations under the financing agreement(s).
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Resolution No.3013-16
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1 WE, THE UNDERSIGNED, do hereby certify that the foregoing is a full, true and
2 correct copy of the Resolution duly and regularly adopted at a meeting of the South
3 Tahoe Public Utility District's Board of Directors held on April 7, 2016.
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5 AYES: Cefalu, Jones, Vogelgesang, Sheehan, Wallace
6 NOES: None
7 ABSENT: None
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11 Randy Vogelgesang, Board President
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ATTEST:
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j)11/MIZI g
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Melonie Guttry, Clerk of the :.ard
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