Ordinance No. 385 - Retired 1
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ORDINANCE_ N~O~_
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
1986 - 1987 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 Improvement
District No. U-l, South Tahoe Public Utility District during the
fiscal year 1986-87 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 re-
venues 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 1986-87 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 1986-87 for the payment
of said annual interest on said bonded debt incurred during the
years 1967-1968 and for payment of such part of ~he principal
and interest as will fall due during said fiscal year and to pay
the principal and interest that will become due before the pro-
ceeds of the next general tax levy will be available is TWO
HUNDRED FORTY THOUSAND DOLLARS ($240,000). There is no amount O~
money required by said Improvement District to be raised by
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ORDINANCE No. 385
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! taxation during the fiscal year for all other purposes of said
2 District.
3) The rate of taxation is hereby fixed by the Board of
Directors of said District for said Improvement District No. U-1
5 at the rate of $0.0600 per hundred dollars ($100.00) of assessed
6 value of said property within said Improvement District.' It is,
7 therefore, directed that at the time and in the manner required
8 by law for levying taxes for E1 Dorado County, the Board of
9 Supervisors, E1 Dorado County sh~I1 levy, in addition to any other
l0 taxes it levies, a tax upon all of the property in Improvement
District No. U-1 of the South Tahoe Public Utility District at
the rate of $0.0600 per one hundred dollars ($100.00) of assessed
13 value'of said property within said Improvement District. All of
the property within said District is benefited by said bonded
15 debt.
4) This ORDINANCE shall take effect thirty (30) days after
17 its passage. At least one (1) week before the expiration of said
thirty (30) day period, copies of said ORDINANCE shall be posted
19 by CLERK of the SOUTH TAHOE PUBLIC UTILITY DISTRICT at three (3)
20 public places within said District, and at least one (1) week
2! before the expiration of said thirty (30) days period, this
ORDINANCE shall be published in the TAHOE DAILY TRIBUNE, a
23 newspaper of general dirculation, printed and published in said
24 District one (1) time.
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ORDINANCE No. 385
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PASSED AND ADOPTED at a duly held meeting of the Board of
Directors of the South Tahoe Public Utility District on the 21st
day of August, 1986 by the following vote:
Director Wynn, Mason, Jones, Madden, Olson
AYES:
NOES: None
ABSENT: None
jOhn(Wy~n, Chai~n of Board
SOUTH~HOE PUBLI~ UTILITY DISTRICT
Pat A. Mamath, ~lerk of Board
SOUTH TAHOE PUBLIC UTILITY DISTRICT
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