Ordinance No. 249.ORDINANCE NO. 249
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
1974 - 1975 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 1974 - 1975 are adequate 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 1974 - 1975 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 1974 - 1975 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 is One Hundred
Sixty-Six Thousand Dollars ($166,000) 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 $0.128 and therefore levied at $0.128 per
said One Hundred Dollars ($100.00) assessed value of said property within the
District.
3. It is hereby determined that revenues of SOUTH TAHOE PUBLIC
UTILITY DISTRICT during the fiscal year 1974 - 1975 are inadequate to pay the princi-
pal 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 tn the
fiscal year 1974 - 1975 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 1974 - 1975 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 ts Fourteen Thou-
sand Dollars ($14,000.00), 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. 011 and therefore levied at $0.011 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 1974 - 1975 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 durtng the
fiscal year 1974 - 1975 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 Two Hundred Sixty Thousand ($1,260,000.00) 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 Superv,isors of said County by the .Auditor of
said County ts 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 Clerk of the SOUTH TAHOE PUBLIC UTILITY'
~o~r~oi at three (3) public places tn said District, and at least one (1) week before
the expiration of said thirty (30) day period, this Ordinance shall be published in
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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.
an adjourned
PASSED AND ADOPTED at /regular meeting of the Board of Directors
of the SOUTH TAHOE PUBLIC UTILITY DISTRICT on August 30, 1974, by the
following vote:
AYES: Directors:
NOES: None
ABSENT: Fesler
Wakeman, Kortes, Hegarty and Ream
Robert lN~keman~'President of the Board
SOUTH TAHOE PUBLIC UTILITY DISTRICT
ATTE ST:
DavidlN. Callahan, Clerk and Ex-Officio
Secretary of the Board
SOUTH TAHOE PUBLIC UTILITY DISTRICT
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I hereby certify that the foregoing ~s a full, true and correct
copy of Ordinances No. o~ , duly and regularly adopted by the
Board of Directors of the South Tahoe Public Utility District, E1 Dorado
County, Californfa.
South Tahoe Public Utility District