Resolution No. 3076-18 Pledged Revenues1
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RESOLUTION NO. 3076-18
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 Drinking Water State
Revolving Loan Fund Resolutions regarding intent, authority and procedure;
NOW, 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 Drinking Water State Revolving
Fund and/or Water Recycling Funding Program financing for Keller Heavenly Water
System Improvements Project (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. 3076-18 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 18th
day of January, 2018, by the following vote:
AYES: CEFALU, JONES, VOGELGESANG, WALLACE
NOES: NONE
ABSENT: SHEEHAN
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ATTEST:
Melonie Guttry, Clerk of thetoard
South Tahoe Public Utility District
Resolution No. 3076-18
January 18, 2018
Page 2
Randy Vogelgesang, Board President
South Tahoe Public Utility District