Ordinance No. 240 - RetiredORDINANCE NO. 240
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
1973 - 1974 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 1973-1974 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 pay-
ments cannot be met out of 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 1973 - 1974 and to provide for sinking fund payments of the next suc-
ceeding fiscal year.
2. The amount of money necessary to be raised by taxation during the
fiscal year 1973 - 1974 for the payment of said annual interest on said bonded debt
incurred during the years 19S9-1960 for said fiscal year and for the payment of such
part of the principal as will fall due during said fiscal year is One Hundred Sixty-
Seven Thousand Dollars ($167,000) 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 $0.16S and therefore levied at $0. 165 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 1973 - 1974 are inadequate to pay the princi-
pal or interest on the bonded debt of said District incurred in the years 19S1-1952
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 1973 - 1974 and to provide for sinking fund payments of the next suc-
ceeding fiscal year.
4. The amount of money necessary to be raised by taxation during the
fiscal year 1973 - 1974 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 payment of the next succeeding fiscal year is Thirteen Thou-
sand Dollars ($13,000.00), 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. 014 and therefore levied at $0. 014 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 1973 - 1974 are
needed to carry out the objects and purposes of said District, which said funds can-
not 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 1973 - 1974 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 One Million Ninty-Five Thousand Dollars ($1,095,000.00) 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 is hereby fixed by the Board of Directors of said District at $0.971, and,
therefore, levied at $0.971 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 Glerk of the SOUTH TAHOE PUBLIG UTILITY
DISTRIGT 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
-2-
the Tahoe Daily Tribune, a newspaper of general circulation, printed and published
in the said District, one (1) time.
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 the SOUTH TAHOE PUBLIC UTILITY DISTRICT on August 16, 1973, by the
following vote:
AYES, Directors:
NOES, Director s:
W'akeman, Kortes, Fesler, Hegarty,
None
and Ream
ABSENT, Directors: None
Robert W. Fesler, President of the Board
SOUTH TAHOE PUBLIC UTILITY DISTRICT
ATTEST:
David W. Callahan, Glerk and Ex-Officio
Secretary of the Board
SOUTH TAHOE PUBLIC UTILITY DISTRIGT
-3-
CERTIFICATE OF ORDINANCE
STATE OF CALIFORNIA )
) ss
COUNTY OF ELDORADO )
I, the undersigned, do hereby certify that the above is a true and
correct copy of ORDINANCE NO. 240 , 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 the Rate of Taxes", and
that said Ordinance was duly adopted by the Board of Directors of SOUTH
TAHOE PUBLIC UTILITY DISTRICT on August 16, 1973, the original of which
is on file in the office of SOUTH TAHOE PUBLIC UTILITY DISTRICT.
IN WITNESS WHEREOF, I have set my hand and the seal of the SOUTH
TAHOE PUBLIC UTILITY DISTRICT, this 16th day of August 1973.
David %Ar. Callahan, Clerk and Ex-officio
Secretary of the Board
SOUTH TAHOE PUBLIC UTILITY DISTRICT
(SEAL)