Resolution No. 3014-16 Financing forMeter Installation Phase 2 1 RESOLUTION NO. 3014-16
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A RESOLUTION BY THE BOARD OF DIRECTORS
3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
FOR PLEDGING REVENUES AND FUND(S) FOR
4 FINANCING FOR METER INSTALLATION PROJECT PHASE 2
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6 WHEREAS, the South Tahoe Public Utility District has adopted Drinking Water State
7 Revolving Fund Resolutions regarding g intent, authority and procedure;
8 NOW, THEREFORE BE IT RESOLVED:
9 1. South Tahoe Public Utility District (the "Entity") hereby dedicates and pledges
10 Water Enterprise Fund/Water Service Charge Net Revenues to payment of
11 any and all Drinking Water State Revolving Fund Financing for Meter
12 Installation Project (Phase 2), referred to as the "Project".
13 2. The Entity commits to collecting such revenues and maintaining such fund(s)
14 throughout the term of such financing and until the Entity has satisfied its
15 repayment obligation thereunder unless modification or change is approved
pproved
16 in writing by the State Water Resources Control Board.
17 3. So long as the financing agreement(s) are outstanding, the Entity's pledge
18 hereunder shall constitute a lien in favor of the State Water Resources Control
19 Board on the foregoing fund(s) and revenue(s) without any further action
20 necessary.
21 4. So long as the financing agreement(s) are outstanding, the Entity commits to
22 maintaining the fund(s) and revenue(s) at levels sufficient to meet its
23 obligations under the financing agreement(s).
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Resolution No.3014-16
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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
NOES: None
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ABSENT: None
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8 Randy Vogelgesang, Board President
South Tahoe Public Utility District
9 ATTEST: L/Ven-a: /Vdee,
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Melonie Guttry, Clerk of the Board
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