Resolution 2781-04
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\., 1 RESOLUTION NO. 2781-04
2 A RESOLUTION DECLARING INTENTION TO REIMBURSE
3 EXPENDITURES FROM THE PROCEEDS OF OBLIGATIONS
TO BE ISSUED BY THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
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5 RESOLVED, by the Board of Directors of the South Tahoe Public Utility District
6 (the "District"):
7 WHEREAS, the District proposes to undertake the project referenced below, to
8 issue or cause to be issued bonds or certificates of participation (in either case, the
9 "Obligations") for such project, and to use a portion of the proceeds of such Obligations
10 to reimburse expenditures made for the project prior to the issuance of the Obligations;
11 WHEREAS, United States Income Tax Regulations section 1.150-2 provides
12 generally that proceeds of tax-exempt obligations are not deemed to be expended when
13 such proceeds are used for reimbursement of expenditures made prior to the date of
14 issuance of such obligations unless certain procedures are followed, one of which is a
'-' 15 requirement that (with certain exceptions), prior to the payment of any such expenditure,
16 the issuer declares an intention to reimburse such expenditure; and
17 WHEREAS, it is in the public interest and for the public benefit that the District
18 declares its official intent to reimburse the expenditures referenced herein.
19 NOW, THEREFORE, it is hereby DECLARED and ORDERED, as follows:
20 1. The District intends to issue the Obligations or cause the Obligations to be
21 issued for the purpose of paying the costs of acquiring and constructing capital
22 improvements to its sewer collection and treatment system, as more particularly
23 described in Exhibit A (the "Project").
24 2.The District hereby declares that it reasonably expects (i) to pay a portion of
25 the costs of the Project prior to the date of issuance of the Obligations, and (ii) to use a
26 portion of the proceeds of the Obligations for reimbursement of expenditures for the
27 Project that are paid before the date of issuance of the Obligations.
28 3. The principal amount of the Obligations not to exceed $15 million.
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Resolution No. 2781-04
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We, the undersigned, do hereby certify that the above and foregoing resolution
4 was duly and regularly adopted and passed by the Board of Directors of the South
5 Tahoe Public Utility District at a regular meeting duly held on the 5th day of February,
2004, by the following vote:
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Directors Schafer, Jones, Comte, Mosbacher
None
AYES:
NOES:
ABSENT:
Director Wallace
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/ k,~~
I
iJ mes R. Jones, oard President
outh Tahoe lic Utility District
ATTEST:
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18 ~ --t/. ~ ~--s.l-x>. Aa#J
~Shar , 'Ierk of the Bo . d and
19 Ex-officio Secretary to the Board of Directors
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Exhibit A
Sewer Infrastructure Projects
Collection System Improvements
Crossing 89th & 5th St
Wildwood Interceptor
Planning Documents
Alpine Co. Master Plan
Collection System Master Plan
WWTP Future Connections
Pump Station Improvements
AI Tahoe VFD
Beecher PS Wet Well Upgrades
FLL Pumps & Motors
Gardner Mountain Pump Station
Generator Set USFS
Generator Sets
Generator Trout Creek
Johnson Generator Set
LPPS Motor Rebuild
LPPS Vegetation
Security Measures
Tahoe Keys Motor Rcondition, VFDs, Miltronic
Telemetry USFS
Trout Creek PS Pumps, Motors, VFD
Indian Creek TMDL
Indian Creek Riparian Habitat
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Recycled Water System Improveml
AC Projects
B-Line
Ditch Meters
Fencing Diamond Valley Ranch
Sand Traps Dressler Ditch
Snowshoe Thompson Phase I
Upper Dressler Ditch
Treatment Plant Improvements
Aeration Basin
Alarm
Blower Bldg VFD
Control Panels
Fencing WWTP
Final Pump
Flock Basin Bypass
Fuel Tank
Generator Lower Shop
Groundwater Nitrate Sentinel Wells
Hypochlorite Conversion
Propane Tank
Primary Covers
SCADA
Sludge Handling Facility
Sludge Storage Tank
WAS Pump
WEIR Washer
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In-House Engineering