Ordinance No. 377 - Retired1
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ORDINANCE NO. 377
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, 1985-1986 FISCAL YEAR
BE IT ENACTED by the BOARD OF DIRECTORS of the 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 1985-86 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 work for which said bonds were issued, and
that said payments 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 1984-1985 and to provide for
sinking fund payments of the next succeeding Fiscal Year.
(2) The amount of money necessary to be raised by tax-
ation during the Fiscal Year 1984-1985 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 dud during said Fiscal Year is ONE
HUNDRED NINETY-NINE THOUSAND DOLLARS, ($199,000) and the rate of
taxation for said purpose based on the number of cents upon each
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ORDINANCE NO. 377
Page Two
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 $0.0117 and, therefore,
levied at $0.0117 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 1985-1986
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, 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 1985-
1986 and to provide for sinking fund payments of the next succeed-
ing Fiscal Year.
(4) The amount of money necessary to be raised by
taxation during the Fiscal Year 1985-1986 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 THOUSAND DOLLARS ($13,000.00) and the rate of taxation
for said p~rpose based on the number of cents upon each one hun-
dred dollars ($100.00) value of property assessed by the E1
Dorado County Assessor and returned to the Board of Supervisors
ORDINANCE NO. 377
Page Three
of said County by the Auditor of said County is hereby fixed by
the Board of Directors of said District at $0.0007 and, therefore,
levied at $0.0007 per said one hundred dollars ($100.00) assessed
value of said property within said District.
(5) 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 TAHOE DAILY TRIBUNE, a news-
paper of general circulation, printed and published in the said
District, one (1) time.
(6) A certified copy of this ORDINANCE shall be trans-
mitted 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 duly held meeting of the Board
of Directors of the South Tahoe Public Utility District on the
1st day of August, 1985 by the following vote:
Directors Madden, Mason, Jones, Olson, Wynn
AYES:
NOES: None
ABSENT: None
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MARY 5' ~IADDEN' PRESIDENT OF BOARD
SOUTH ~I~AHOE PUBLIC UTILITY DISTRICT
PAT A. MAMATH, CLERK OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT