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Ordinance No. 8 - Retired ORDINAN0UZ NO. ~ IT:[~~ by the Boa~ of D~ctors of the ":' 'Public Utiif~'y'Dist~ict, E1 DOrado Count2, Calirornla, as foll'~w~ ~.~.,,~..u:..--,..,.,.,,;.._' ·, . 1 ~':.~he re.q~m~n~s of la~ ~ve been co~lled ~&th ~ ~" ' ~ --t> ~ ~.:. · .::- 3 .. ?.}-.~:'.:-:.~:' ' ~returns.. of ~aid elecelon and did as a reset of such c~v~a .,~.,.:~..":'~'~"' ....:.:.,..:..:.'. -. determ~e::.and-....: . decla~, and do hereby certl~, t~t the ~ald Pro- 1' :: ':' 'l' '¢~ : 'I:S' J ''' '?:>ositlon received at said special bond election the afflr~tive ..- .~.[.. ':.- .. · ::'.~.t... ' vote of ~re':'th~ two-thl~s of all of the voters vot~g at said ;;- ' ~elec~lon ~d'~as ghere~y car~le~ an~ adopted by s~Id elecgion, :~(:~!.'}'~:::-?" ~and the issuance-of all of said bonds by ~ald Dls~rlc~ wa~ d~y calling and)holding the special bond election held in ~he $ou~h ~Tahoe Public:Utility District on September ~, 1951, at which · election a proposition to issue bonds of said District in the :,principal.sUm of $265,000.00 for the objects and purposes hereafte stated was submitted to the voters of said District; the Board of Directors of said District did 'duly and regularly canvass the 2. 'All acts, conditions and things required by law to :~;exlst, happen and be performed preceden~ %0 and in the issu~mce !of said bonds do exist, have happened and been perfor~d in due <time, form ~d ~ner as required by law, and said Dla~rlct 1~ 1 ,~n°w authorlze'd purs~nt to each and eve~ req~re~nt of law to ~ 'jlnc~ an ~debtedness In the m~nner a~ form as In thl~ Ord~ce ' .}provided. ~ 3. Bonds of the South Tahoe Public Utility District in the ; ~aggregate prlnelpal amount or $265,000, to be known &~ '~outh l'~ho~ Public Utility District Sewer Bor~ds of 1951" ~hall issue to pay theI ooa~ el' ~ne oomsG~ucGlon o~' ~he ~ollowlng District as set £orth in the following propoal:lc~, P.qoPoSITIoN: Shall the SoUth. Tahoe Public Utility · ... District, El-Dorado County, incur a Bonded' debt'of $265,000 lawful~'money of the United States,:..together with-interest, thereon at a rate no to exceed five per cent (5%).'per annum, for the con-t -~t~uC.t. ion:~ o~'a certain' public-utility and utility . works'i,'/.whichls the project .of~'aupplying the lnhabl ts~t'~'of said. Dls~rict with-means.for.the collection a'n~'disposition'of. sanitary sewage and the acquisition of 'lands .and e~sem~nts therefor? ~.' 's'aid $265,000 principal amount of bonds shall be issued in whole as hereinafter set forth and shall be sold in accordance with law at not less than their par value and accrued interest. The bonds of said authorized issue shall be negotiable in fo~, and 265 in ntumber, numbered consecutively from 1 to 265, both inc i us lye. 5. The bonds of said authorized issue shall be of the form, stmil be dated, shall bear interest, shall be of the denominations and shall be redeemed and be ~ayable at the times and place and in the amounts determined by the Board of DirectorS in Ordinance'No. 6, An Ordinance Calling and Providing for a '~' Special'DiStrict ~lection to be tteld :In South Tahoe Public .Utility .~ District' for-the Purpose of Submitting to the Voters of Said Dlot.~c~ a Proposition to Incur a Bonded Indebtedness and Provid- Ing fez' the Giving of Notice Thereof, adopted July 30, 1951, excep~ that the form o£ the bond co~tai3~ed in Section 14 of said Ordina~lC~. Is hereby corrected to change the recital of the date of the election from the let day of October, 1951, to the true election date, to-wit: September ~, 1951. 6. The President of the Board of Directors of the District is hereby authorized and directed to execute each of said bonds on behalf of the District, and the Clerk is hereby authorized and directed ~o co~tersign each of said bonds amd to affLx the official seal of said District thereto. The T~'ea~trer of the Die- trict is hereby authorized and directed to sign each of the s~na~e. Such ~l~g, oo~er~Ign~ ~ sealln$ ~ ~re~ ~ provlde~ s~il 'be a s~flcien[ and b~d~g execuglom ~ a~_~ ~ and coupons b7 said D~a~rlct. In c~se ~ or ~h of~loer~ ~e ~.~:.~:..:..... ,~ s~natures or cOUntersPy;natures appel~, on the bondl o~ ~o~1 ~:~?:' ~ ~s~l cease, to ~e s~h officer ~fo~ t~ del~ver2 of I~h ~ nevertheless, be ye.lid and sufftcAe, t ~'~'""" ~az If they had ~~ed in office ~t~ t~ del lve~ of ~e ?. The Board of Directors shall annually levy a~ collect i sufficient to pay the annual interest on the bonds Of ~and also to pa2 such part of the principal as will fall ~ue w~thl~ the succeeding year, as may be necessary to provtde for the ~sinking fund payments of the next succeedln~ year; provided, that ~hen the i~terest and sinking fund payments for any £~acal yea~ :~°n the bonds of this issue can be ~t out of the o~pl~ ~of the public .utility and utility wor~ for ~lch It ~ [llJ, ~or out of ~neys ~ the ge~ral f~d of ~he D[~trlct ~d [fore appropr~ted ~d transferred to t~ a~k~g f~ ~publlc utility ~d utility workl, no ~ ~M1 be levied for [p~pose. S~ld t~ shall ~ In addit!~ to all other t~e lev[~ ~for District p~oses, ~d shall be collected at the ~nd in the aa~ ~nner aa other Dlatr~ct t~e~ are collected, ~be used for no other p~poses t~l t~ p~nt of amid b~dl ~:~accru~g ~terest. Said t~es aa collected shall ~ ~orthwl~ ipaid into the fund for which the same were levied and collected ~and which shall be designated "South Tahoe Public Utility DLatrie~ }:Sewer Bonds of 1951, Interest ~nd Sinking Fund', and all aural te }become due for the principal of and interest on said bonds shall be paid from such ftund There shall likewise be deposited in amid bonds, ~rom.:.thair date to the date of delivery and aatu~l 8".'"'~.':'~e;,e:ls hereby created ~ establ~d ~ Construction.Fund of 1951# which shall be kept by the'T~malur~r · o£ said,Dls~'r'~c.~ ln~o ~h~ch a~ll ~ deposited t~ pr~ee~ et } the eale:'of~:the"bonds,.. ~ by ~ch I record shall ~ kept t~n ac~r~d '~geresg ~ceived ~ ~ I~e the~of), ~d proceeds::sh~ ~ appl~e~ solel~ to the p~ose, a~ ~ ~pecified in the ~opoaltion. 9. The Cl~rk 1~ directed to ea~e ~ald ~I ~o be ~graphed, prated or engraved, accord~ to the pl~VlllOnl ~and to pr~u~ their execution by t~ prop, r orrlce., ¢ deliver them, .when so executed, to t~ T~as~er who ~keep the sa~ ~tll they shall ~ sold by the B~ of '~ whereupon he 0hall deliver them to the p~ser o~ p~~oro the~or, on reoelp~ or the p~se price. Bald ~oldent~ Treasurer and Clerk are further authorized and dtreete~ to lake, execute and deliver to the purchaser of 111a~d bondl I lJ~ltttt'l 1~ no-litigation certificate in the form UlUally required by purchalll · of ~nicipal bonds, certifying to the Eenui~nees and due exeautl~ of said bonds and further certifying to all facts within the:r ~knowledge relative to any liti~atlon which may or m~J~t affect said D.totrlct, said officers or amid ~o, a~ 8ald T~aau~r ~l further authorized and directed to mke, execute ~d deliver to ~the p~-chaser of said bond~ a ~eas~e~'n recelp~ ~ ~e ro~ C usually req~red by p~chaaera of ~ieipal bonds, evldenc[~ t~ payr. nt of the purchase p~lce or said bonds ~lch receipt l~ll ~i ~c~cl~Ive evidence gha~ sald purch~e price ha~ been ~I~ a~ ~ ~. ~been received by said District. ~y p~chaner ox' subot, quent t~er ~ or holde~,o£..said bonds is hereby authorized to rely u~O~ SAd '~hall be J~~ed~ ~ rely~ ~on ~ such m~nab~ ~ ~. llt~a~lom .e'er~.lfI.cate ~d T~aa~ertl ~ce~t el~ ~13Ct tO said bonds ~'ecu~ed:P~a~nt to the authority of thXa o~~. 10. Copies o~ this ordinate s~ll be posted by the Clerk a~ t~e publ~c,:place~ ~ aa~d DlaCriet w~th~ ~e ~ or adoption, la no neespaper pr~d and publ~d ~ t~ The~ I hereby certify that the foregoing ordintr~e the Board-of Dire.ctorl of the 3outh Tahoe i, ubllc Ut~l~t7 ~Dlstrlct at a meeting thereof held on the _~ day of AYE3, and in favor thereof, Directors~ NOES, Directors: None ~~ Directors ~ None ¥o~Croc~r, ~ :, ~ . at~aohed '~;<-'": " in t~ee pubi[~ places ~n said Dtatr~et, and that · .~,.~..?-~,.-. re~ed So posted contlnuouoly for a pert~ or c~o wee~ ~.,.<<, ,< ... thereafterl ': <:': ~ SUbscribed o before ;.,.... , of E1 ~rado, State of Cal~o]