Ordinance No. 406 - RetiredORD INANC]g 406
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 1988-1989 FISCAL YEAR
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4 .: BE IT ENACTED by the BOARD OF DIRECTORS of the SOUTH
5 TAHOE PUBLIC UTILITY DISTRICT, County of E1 Dorado, State of
6 California.as follows:
7 l) It is hereby determined that revenues of Improvement
8 District.No. U-l, South Tahoe Public Utility District during the
9 fiscal year 1988-1989 are inadequate to pay the principal and
10 interest on the bonded debt of said Improvement District incurred
1] in the years 1967-1968 during said fiscal year and principal and
12 interest that will become due before the proceeds of the next
13 general tax levy will be available cannot be met out of the ~
14 revenues for said year for said Improvement District, and, there-
15 fore, taxes shall be caused to be levied for such purposes to pay
16 the annual principal and interest as ~will fall due in the fiscal
I? year 1988-.1989 and to pay the principal and interest that will
18 become due before the proceeds of the next tax levy will be avail-
19 able.
20 2) The estimated minimum amount of money required to
21 be raised by taxation during the fiscal year 1988-1989 for the
22 payment of said annual interest ~on said bonded debt incurred
23 during the years 1967-1968 and for payment of such part of the
24 principal and interest as will fall due during said fiscal year
25 and to pay the principal and interest that will become due before
26 the proceeds of the next general tax levy will be available is
27 ONE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($185,000). There is no
2~ amount of money required by Said Improvement District to be raised
ORDINANCE NO. 406
PAGE - 2
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 $0.0451 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
l0 other taxes it levies, a tax upon all of the property Improvement
II District No. U-1 of the South Tahoe Public Utility District at the
12 rate of $0.0451 per one hundred dollars ($100.00) of assessed
13 value of said property within said Improvement District. All of
14 the property within said District is benefited by said bonded debt.
15 4) This ORDINANCE shall take effect thirty (30) days
16 after its passage. At least one (1) week before the expiration
l? of said thirty (30) day period, copies of said ORDINANCE shall be
18 posted by CLERK of the SOUTH TAHOE PUBLIC UTILITY DISTRICT at three
19 (3) public places within said District, and at.least one (1) week
20 before the expiration of said thirty (30) days period, this
21 ORDINANCE shall be published in the TAHOE DAILY TRIBUNE, a news-
22 paper of general circulation, printed and published in said
23 District one (1) time.
24 PASSED AND ADOPTED at a duly held meeting of the Board
25 of Directors of the South Tahoe Public Utility District on the
26 7th day of July, 1988 by the following vote:
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14 ATTEST:
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AYES'
NOES:
ABSENT'
ORDINANCE NO. 406
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Director Mason, Walker, Jones, Sinclair, 01son
None
None
ROBERT MASON, CHAIRMAN OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT
PAT A. MAMATIt, CLE~{~K OF BOARD
SOUTH TAHOE PUBLIC UTILITY DISTRICT