Loading...
Ordinance No. 190 - RetiredORDINANCE NO. 190 AN ORDINANCE OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT STATING THE PURPOSE FOR WHICH TAXES ARE NECESSARY, FIXING THE AMOUNT OF MONEY NECESSARY TO BE RAISED BY TAXATION, FIXING OF RATE OF TAXES, 1969- 1970 FISCAL YEAR. BE IT ENACTED by the Board of Directors of SOUTH TAHOE PUBLIC UTILITY DISTRICT, County of E1 Dorado, State of California, as follows: 1. It is hereby determined that revenues of SOUTH TAHOE PUBLIC UTILITY DISTRICT during the fiscal year 1969-1970 are inadequate to pay the principal or interest on the bonded debt of said District incurred in the years 1959-1960 during said fiscal year, and that the interest and sinking fund payments for said fiscal year cannot be met out of surplus earnings for said year for the public utility or public utility work for which said bonds were issued, and that said payments cannot be met out of the monies of the general fund of said District, appropriated or transferred to the sinking fund of the public utility for which said bonds were issued, and therefore, taxes shall be levied for such purposes to pay the annual interest on said bonds, to pay such part of the principal as will fall due in the fiscal year 1969-1970 and to provide for sinking fund payments of the next succeeding fiscal year. 2. The amount of money necessary to be raised by taxation during the fiscal year 1969-1970 for the payment of said annual interest on said bonded debt incurred during the years 1959-1960 for said fiscal year and for the payment of such part of the principal as will fall due during said fiscal year, and to provide for the sinking fund payments of the next succeeding fiscal year is One Hundred Fifty Three Thousand Two Hundred Dollars ($153,200.00) and the rate of taxation for said purpose based on the number of cents upon each One Hundred Dollars ($100.00) value of property assessed by the E1 Dorado County Assessor and returned to the Board of Supervisors of said District at $0.203 and therefore levied at $0. 203 per said One Hundred Dollars ($100.00) assessed value of said property within said District. 3. It is hereby determined that revenues of SOUTH TAHOE PUBLIC UTILITY DISTRICT during the fiscal year 1969-1970 are inadequate to pay the principal or interest on the bonded debt of said District incurred in the years 1951-1952 during said fiscal year, and that the interest and sinking fund payments for said fiscal year cannot be met out of surplus earnings for said year for the public utility or public utility work for which said bonds were issued, and that said payments cannot be met out of the monies of the general fund of said District appropriated or transferred to the sinking fund of the public utility for which said bonds were issued, and, therefore, taxes shall be levied for such purposes to pay the annual interest on said bonds, to pay such part of the principal as will fall due in the fiscal year 1969-1970 and to provide for sinking fund payments of the next succeeding fiscal year. 4. The amount of money necessary to be raised by taxation during the fiscal year 1969-1970 for the payment of said annual interest on said bonded debt incurred during the years 1951-1952 for said fiscal year and for the payment of such part of the principal as will fall due during said fiscal year, and to provide for the sinking fund payments of the next succeeding fiscal year is Twelve Thousand Eight Hundred Dollars ($12,800.00), and the rate of taxation for said purpose based on the number of cents upon each One Hundred Dollars ($100.00) value of property assessed by the E1 Dorado County Assessor and returned to the Board of Supervisors of said County by the Auditor of said County is hereby fixed by the Board of Directors of said District at $0. 017 and therefore levied at $0.017 per said One Hundred Dollars ($100.00) assessed value of said property within said District. 5. It is further determined that funds for maintenance and operation of SOUTH TAHOE PUBLIC UTILITY DISTRICT during the fiscal year 1969-1970 are needed to carry out the objects and purposes of said District, which said funds cannot be provided out of revenues of said District during said fiscal year. 6. The amount of money necessary to be raised for taxation during the fiscal year 1969-1970 for the maintenance and operation of SOUTH TAHOE PUBLIC UTILITY DISTRICT needed to carry out the objects and purposes of said District, which said funds cannot be provided out of revenues of said District, during said fiscal year, is Five Hundred Fifty Two Thousand Dollars ($552,000.00), and the rate of taxation for said purposes based on the number of cents upon each One Hundred Dollars ($100.00) value of property assessed by the E1 Dorado County Assessor and returned to the Board of Supervisors of said County by the Auditor of said County [s hereby fixed by the Board of Directors of SOUTH TAHOE PUBLIC UTILITY DISTRICT at $0.730, and, therefore, levied at $0.730 per said One Hundred Dollars ($100.00) assessed value of said property within said District. 7. This Ordinance shall take effect thirty (30) days after its passage. At least one (1) week before the expiration of said thirty (30) day period, copies of said Ordinance shall be posted by the Clerk of the SOUTH TAHOE PUBLIC UTILITY DISTRICT at three (3) public places in said District, and at least one (1) week before the expiration of said thirty (30) day period, this Ordinance shall be published in the LAKE TAHOE NEWS, a newspaper of general circulation, printed and published in the said District, one (1) time. -3- 8. A certified copy of this Ordinance shall be transmitted to the County Auditor of the County of E1 Dorado, and to the County Treasurer of the County of E1 Dorado, upon its adoption. PASSED AND ADOPTED at a regular meeting of the Board of Directors of SOUTH TAFIOE PUBLIC UTILITY DISTRICT on August 21, 1969, by the following vote: AYES: NOES: ABSENT: Directors, Fesler, Kortes, FIegarty, %Arakeman and Ream None None ROBERT W. FESLER, President of the Board of Directors of South Tahoe Public Utility District ATTEST: DAVID W. CALLAFIAN, Clerk of the SOUTFI TAHOE PUBLIC UTILITY DISTRICT and ex-officio Secretary of the Board of Directors thereof. CERTIFICATE OF ORDINANCE STATE OF CALIFORNIA ) ) ss COUNTY OF EL DORADO ) I, the undersigned, do hereby certify that the above is a true and correct copy of Ordinance No. 190, South Tahoe Public Utility District entitled, "An Ordinance of the South Tahoe Public Utility District Stating the Purpose for which Taxes are Necessary, Fixing the Amount of Money Necessary to be Raised by Taxation, Fixing of Rate of Taxes", and that said Ordinance was duly adopted by the Board of Directors of South Tahoe Public Utility District on August 21, 1969, the original of which is on file in the office of sOuth Tahoe Public Utility District. IN IAFiTNESS WHEREOF, I have set my hand and the seal of the South Tahoe Public Utility District, this 21st day of August, 1969. (SEAL) DAVID W. CALLAHAN, Clerk of the SOUTH TAHOE PUBLIC UTILITY DISTRICT and ex-officio Secretary of the Board of Directors thereof.