Ordinance No. 378 - Retired ORDINANCE NO. 378
AN ORDINANCE OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
FOR IMPROVEMENT DISTRICT NO. U-1 OF THE SOUTH TAHOE
PUBLIC UTILITY DISTRICT ESTIMATING THE MINIMUM AMOUNT
OF MONEY TO BE RAISED BY TAXATION FOR SAID DISTRICT AND
FIXING OF RATES 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 Improve-
ment District No. U-l, South Tahoe Public Utility District during
the Fiscal Year 1985-1986 ~are inadequate to pay the principal and
interest on the bonded debt of said Improvement District incurred
in the years 1967-1968 during said Fiscal Year and principal and
interest that will become due before the proceeds of the next
general tax levy will be available cannot be met out of the
revenues for said year for said Improvement District, and, there-
fore, taxes shall be caused to be levied for such purposes to pay
the annual principal and interest as will fall due in the Fiscal
Year 1985-1986 and to pay the principal and interest that will
become due before the proceeds of the next tax levy will be
available.
(2) The estimated minimum amount of money required 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 1967-1968 and for payment of such part of the
principal and interest as will fall due during said Fiscal Year
and to pay the principal and interest that will become due before
the proceeds of the next general tax levy will be available is
TWO HUNDRED THIRTY-FIVE THOUSAND DOLLARS ($235,000.). There is
ORDINANCE NO. 378
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no amount of money required by said Improvement District to be
raised by taxation during the Fiscal Year for all other purposes
of said District.
(3) The rate of taxation is hereby fixed by the Board
of Directors~of said District for said Improvement District No.
U-1 at the rate of $0.0635 per one hundred dollars ($100.00) of
assessed value of said property within said Improvement District.
It is, therefore, directed that at the time and in the manner
required by law for levying taxes for E1 Dorado County, the Board
of Supervisors, E1 Dorado County shall levy, in addition to any
other taxes it levies, a tax upon all of the property in Improve-
ment District No. U-1 of the South Tahoe Public Utility District
at the rate of $0.0635 per one hundred dollars ($100.00) of
assessed value of said property within said Improvement District.
All of the property within said District is benefited by said
bonded debt.
(4) 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 Board, SOUTH TAHOE PUBLIC UTILITY
DISTRICT, and at least one (1) week before the expiration of said
thirty (30) day period, this ORDINANCE:~ishall be published in the
TAHOE DAILY TRIBUNE, a newspaper of general circulation, printed
and published in said District one (1) time.
PASSED AND ADOPTED at a duly held meeting of the Board
2~ of Directors of the SoUth Tahoe Public Utility District on the
27 1st day of August, 1985 by the following vote:
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ORDINANCE NO. 378
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AYES:
NOES:
ABSENT:
Directors Madden, Mason, Olson, Wynn, Jones
None
None
MARY M. ~DDEN, BOARD PRESIDENT
SOUTH TAHOE PUBLIC UTILITY DISTRICT
10 ATTEST:
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~-~ A. MAMATH, CLERK OF
~3 SOUTH TAHOE PUBLIC UTILITY DISTRICT
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