Ordinance No. 399 - Retired1
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ORDINANCE NO. 399
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 1987-1988 FISCAL YEAR
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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-I, South Tahoe Public Utility District during the
fiscal year 1987-88 are inadequate to pay the principal and in-
terest on the bonded debt 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, therefore, taxes shall
be caused to be levied for such purposes to pay the annual prin-
cipal and interest as will fall due in the fiscal year 1987-88
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 1987.-88 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 One Hundred
Seventy-Five Thousand Dollars ($175,000). There is no amount of
money required by said Improvement District to be raised by tax-
ation during the fiscal year for all other purposes of said
District.
Ordinance No. 399
Page TwO
! The rate of taxation is hereby fixed by the Board of Directors
2 of said District for said Improvement District No. U-1 at the rate
3 of $0.0460 per one hundred dollars ($100.00) of assessed value of
4 said property within said Improvement District. It is, therefore,
5 directed that at the time and in the manner required by law for
6 levying taxes for E1 Dorado County, the Board of Supervisors,
7 Dorado County shall levy, in addition to any other taxes it
8 levies, a tax upon all of the property in Improvement District
9 No. U-1 of the South Tahoe Public Utility District at the rate of
l0 $0.0460 per one hundred dollars ($100.00) of assessed value of
ll said property within said Improvement District. Ail of the pro-
12 perty within said District is benefited by said bonded debt.
13 4) This ORDINANCE shall take effect thirty (30) days after
14 its passage. At least one (1) week before the expiration of said
~5 thirty (30) day period, copies of said ORDINANCE shall be posted
16 by CLERK of the SOUTH TAHOE PUBLIC UTILITY DISTRICT at three (3)
~7 public places within said District, and at least one (1) week
18 before the expiration of said thirty (30) days period, this
19 ORDINANCE shall be published in the TAHOE DAILY TRIBUNE, a news-
20 paper of general circulation, printed and published in said
2] District one (1) time.
PASSED AND ADOPTED at a duly held meeting of the Board of
23 Directors of the South Tahoe Public Utility District the 2nd day
24 of July, 1987 by the following vote:
25 AYES: Director Wynn, Jones, Olson, Madden
26 NOES: None
27 ABSENT' Director Mason %~\ ~
28 JO N C AIRM OF BOARD
ATTEST: ~2-~g~' ~.~~SOUTH ~HOE P UBLI~UTILITY DISTRICT
PAT A. MAMAT~, CLERK OF BOARD, STPUD