Resolution No. 3214-22 Upper Truckee Pump Station 1 RESOLUTION NO.3214-22
2 INSTALLMENT SALE AGREEMENT RESOLUTION OF THE BOARD OF DIRECTORS
3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
4 FOR THE UPPER TRUCKEE WASTEWATER PUMP STATIONS REHABILITATION PROJECT
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WHEREAS, the South Tahoe Public Utility District (the "District") desires to finance
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the costs of the Upper Truckee Wastewater Pump Stations Rehabilitation Project (the
7 "Project");
8 WHEREAS, the District intends to finance the construction and/or reconstruction
9 of the Project or portions of the Project with funds provided by the State of California,
10 acting by and through the State Water Resources Control Board (the "State Water
11 Board") through the execution of an agreement currently entitled "Construction
12 Installment Sale Agreement, Upper Truckee Wastewater Pump Stations Rehabilitation
13 Project, Project No. C-06-8599-1 10, Agreement No. D2101016" (the "Installment Sale
14 Agreement"), by and between the District and the State Water Board;
15 WHEREAS, the Board of Directors has duly considered the Installment Sale
Agreement and the transaction represented thereby, and wishes at this time to
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approve this transaction in the public interests of the District;
17 THEREFORE, BE IT RESOLVED by the Board of Directors of the South Tahoe Public
18 Utility District, as follows:
19 The District is hereby authorized to issue indebtedness for the District in
20 accordance with the Installment Sale Agreement. The Board of Directors hereby
21 approves the Installment Sale Agreement in substantially the form on file with the
22 Secretary of the Board, and authorizes the General Manager or the Chief Financial
23 Officer or their designee to execute the Installment Sale Agreement in such form,
24 together with such additions or changes as are approved by the member of the Board
25 executing the Installment Sale Agreement, the General Manager or the Chief Financial
Officer, after consultation with counsel, provided that (a) the principal amount
26 represented thereby may not exceed $4,280,375, and (b) the annual interest rate
27 represented thereby may not exceed 0.80%.
28 All actions heretofore taken by the officers of the District with respect to the
29 execution of the Installment Sale Agreement are hereby approved, confirmed and
30 ratified. Each officer of the District is hereby authorized and directed to do any and all
1 things and take any and all actions and execute any and all certificates, agreements
2 and other documents, which they, or any of them, may deem necessary or advisable in
order to consummate the lawful execution and performance of the Installment Sale
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Agreement in accordance with this resolution. All actions previously taken by the
4 officers of the District in furtherance of this resolution are hereby ratified and confirmed.
5 WE, THE UNDERSIGNED, do hereby certify that the above and foregoing
6 Resolution No. 3214-22 was duly adopted and passed by the Board of Directors of the
7 South Tahoe Public Utility District at a regularly scheduled meeting held on the 7th day of
8 April, 2022, by the following vote:
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10 AYES: Cefalu, Romsos, Peterson, Exline
11 NOES: None
ABSENT: Sheehan
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13 Fravid Peterson, Board Vice President
14 South Tahoe Public Utility District
15 ATTEST:
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17 I Melonie GLittry, Clerk of the Board
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27 Resolution No.3214-22
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28 April 7,2022
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