Resolution No. 3189-21 Pledged Revenues and Funds Resolution1
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RESOLUTION NO. 3189-21
A PLEDGED REVENUES AND FUND(s) RESOLUTION
BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT (STPUD) FOR THE
WATERLINE UPGRADES AND IMPROVEMENTS PROJECT
6 WHEREAS, the South Tahoe Public Utility District has adopted Drinking Water State
7 Revolving Fund Resolutions regarding intent, authority and procedure;
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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 Water Enterprise Fund/Water Service
Charge Net Revenues to payment of any and all Drinking Water State Revolving Fund
financing for the Waterline Upgrades and Improvements Project, referred to as the
"Project".
2.The Waterline Upgrades & Improvements 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. 3189-21 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 17th
day of June, 2021, by the following vote:
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AYES: Cefalu, Romsos, Peterson, Sheehan, Exline
NOES: None
ABSENT: None
ATTEST:
Melonie Guttry, Clerk of the Board
South Tahoe Public Utility District
Resolution No. 3189-21
June 17, 2021
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Kelly ehan, Board President
South Tahoe Public Utility District