Resolution No. 3025-16 Pledging Revenues and Fund1
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RESOLUTION NO. 3025-16
A RESOLUTION BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
PLEDGING REVENUES AND FUND(s)
WHEREAS, the South Tahoe Public Utility District has adopted Clean Water
State Revolving Loan Fund Resolutions regarding intent, authority and procedure;
THEREFORE BE IT RESOLVED, the South Tahoe Public Utility District (the
"Entity") hereby dedicates and pledges net revenues of the Water Enterprise Fund and
the Water Enterprise Fund to payment of any and all Clean Water State Revolving Fund
and/or Water Recycling Funding Program financing for Meter Installation Project
Phases 3-5 (the "Project"). The Entity commits to collecting such revenues and
maintaining such fund(s) throughout the term of such financing and until the Entity has
satisfied its 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 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
I revenue(s) without any further action necessary. So long as the financing agreement(s)
are outstanding, the Entity commits to maintaining the fund(s) and revenue(s) at levels
sufficient to meet its obligations under the financing agreement(s).
WE, THE UNDERSIGNED, do hereby certify that the foregoing is a full, true and
correct copy of the Resolution duly and regularly adopted at a meeting of the South
Tahoe Public Utility District Board of Directors held on May 19, 2016.
AYES: Cefalu, Jones, Vogelgesang, Sheehan
NOES: None
ABSENT: Wallace
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Randy Vogelgesang, Board President
South Tahoe Public Utility District
ATTEST:
Marla 8harp, As Stant Cl&k of the Board
South Tahoe Public Utility District
Resolution No. 3025-16
Page 2
May 19, 2016