Resolution No. 3235-22 Bijou Wastewater Pump Station Rehab 1 RESOLUTION NO. 3235-22
2 A RESOLUTION BY THE BOARD OF DIRECTORS OF THE
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3 SOUTH TAHOE PUBLIC UTILITY DISTRICT REIMBURSEMENT RESOLUTION FOR THE BIJOU
4 WASTEWATER PUMP STATION REHABILITATION PROJECT
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WHEREAS, the South Tahoe Public Utility District (the "Agency") desires to
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finance the costs of constructing and/or reconstructing certain public facilities and
7 improvements relating to its water and'wastewater system, including certain
8 treatment facilities, pipelines and other infrastructure (the "Project"); and
9 WHEREAS, the Agency intends to finance the construction and/or
10 reconstruction of the Project or portions of the Project with moneys ("Project Funds")
11 provided by the State of California, acting by and through the State Water Resources
12 Control Board (State Water Board); and
13 WHEREAS, the State Water Board may fund the Project Funds with proceeds from
14 the sale of obligations the interest upon which is excluded from gross income for federal
income tax purposes (the"Obligations"), and
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WHEREAS, prior to either the issuance of the Obligations or the approval by the
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State Water Board of the Project Funds the Agency desires to incur certain capital
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expenditures (the"Expenditures") with respect to the Project from available moneys of
18 the Agency; and
19 WHEREAS, the Agency has determined that those moneys to be advanced on
20 and after the date hereof to pay the Expenditures are available only for a temporary
21 period and it is necessary to reimburse the Agency for the Expenditures from the
22 proceeds of the Obligations
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24 NOW,THEREFORE, THE AGENCY DOES HEREBY RESOLVE, ORDER AND DETERMINE AS
25 FOLLOWS:
26 SECTION 1. The Agency hereby states its intention and reasonably expects to
reimburse Expenditures paid prior to the issuance of the Obligations or the approval
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by the State Water Board of the Project Funds.
28 SECTION 2. The reasonably expected maximum principal amount of the Project
29 Funds is $7,988,220.
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1 SECTION 3. This resolution is beinig adopted no later than 60 days after the date
2 on which the Agency will expend moneys for the portion of the Project costs to be
reimbursed with Project Funds.
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SECTION 4. Each Agency expenditure will be of a type properly chargeable to
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a capital account under general federal income tax principles.
5 SECTION 5. To the best of our knowledge, this Agency is not aware of the
6 previous adoption of official intents by the Agency that have been made as a matter
7 of course for the purpose of reimbursing expenditures and for which tax-exempt
8 obligations have not been issued.
9 SECTION 6. This resolution is adopted as official intent of the Agency in order to
10 comply with Treasury Regulation §1.150-2 and any other regulations of the Internal
11 Revenue Service relating to the qualification for reimbursement of Project costs.
12 SECTION 7. All the recitals in this Resolution are true and correct and this Agency
so finds, determines, and represents.
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WE, THE UNDERSIGNED, do hereby certify that the above and foregoing
15 Resolution No. 3235-22 was duly and regularly adopted and passed by the Board of
16 Directors of the South Tahoe Public Utility District at a regular meeting held on the 15th
17 day of December, 2022, by the following vote:
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19 AYES: Haven, Romsos, Peterson, Sheehan, Exline
20 NOES: None
21 ABSENT: None
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24 Kelly S �'-r an, Board President
South T. oe Public Utility District
A i�fES,T:
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Me onie Gutfry, Clerk of th oard
2 South TQhOePublic Utility District
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Resolution No.3235-22
30 December 15,2022
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