Resolution No. 3035-16 Pledged Revenues Nolan1
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RESOLUTION NO. 3035-16
A PLEDGED REVENUES AND FUND(s) RESOLUTION
BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
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 Sewer Enterprise Fund and
the Sewer Enterprise Fund to payment of any and all Clean Water State Revolving
Fund and/or Water Recycling Funding Program financing for Treatment Plant
Generator Upgrades (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
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 above and foregoing
Resolution No. 3035-16 was duly and regularly adopted and passed by the Board of
Directors of the South Tahoe Public Utility District at a regular meeting held on the 21St
I day of July, 2016, by the following vote:
AYES: Cefalu, Jones, Vogelgesang, Wallace
NOES: None
ABSENT: Sheehan
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ATTEST:
"—t�11-1
M4 �IE4d
Melonie Guttry, Clerk of the Rdard
South Tahoe Public Utility District
Resolution No. 3035-16
Page 2
July 21, 2016
Randy Vogelgesang, Board President
South Tahoe Public Utility District