Resolution No. 3129-19 Pledged Revenue TKWW Pump1
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RESOLUTION NO. 3129-19
PLEDGED REVENUES AND FUND(s) RESOLUTION BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT FOR THE
TAHOE KEYS WASTEWATER PUMP STATION REHABILITATION PROJECT
WHEREAS, the South Tahoe Public Utility District has adopted Clean Water State
Revolving Fund resolutions regarding intent, authority and procedure;
THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTH TAHOE
PUBLIC UTILITY DISTRICT (the "Entity"), AS FOLLOWS:
1. The Entity hereby dedicates and pledges Sewer Enterprise Fund/Sewer Service
Charge Net Revenues to payment of any and all Clean Water State Revolving Fund
financing for the Wastewater Pump Stations Rehabilitation Project, referred to as the
"Project".
2. The Tahoe Keys Wastewater Pump Station Rehabilitation Project: 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.
3. 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.
4. 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. 3129-19 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 71"
day of November, 2019, by the following vote:
AYES: CEFALU, JONES, VOGELGESANG, SHEEHAN, EXLINE
NOES: NONE
ABSENT: NONE
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ATTEST:
Melonie Guttry, Clerk of the Board
South Tahoe Public Utility District
Resolution No. 3129-19
November 7, 2019
Page 2
Randy Vogelgesang, Board President
South Tahoe Public Utility District