Resolution No. 3204-22 Pledged Revenue Glenwood1
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RESOLUTION NO. 3204-22
PLEDGED REVENUES AND FUND(S) RESOLUTION BY THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT (STPUD) FOR THE
TAHOE/GLENWOOD WATERLINE UPGRADES PROJECT
WHEREAS, the South Tahoe Public Utility District has adopted Drinking Water State
evolving 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 Water Enterprise Fund/Water Service
Charge Net Revenues to payment of any and all Drinking Water State Revolving Fund
financing for the Tahoe/Glenwood Waterline Upgrades Project, referred to as the
"Project".
2.The Tahoe/Glen-Nood Waterline Upgrades Project: Entity commits tc. collecting
such revenues and main•;•aining such fund(s) throughout the term of such financing and
., . until the Entity has satisfied its repayment obligation thereunder u ,less modif:cation or
change is ap1.>roved in writing by the State Water Resources Con ·ro1 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. 3204-22 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 6th
day of January, 2022, by the following vote:
AYES:Cefalu, Romsos, Peterson, Sheehan, Exline
NOES: None
ABSENT: None
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