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HomeMy WebLinkAboutOrdinance No. 319 - Retired ORDINANCE NO. 3 ] 9 AN ORDINANCE OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT STATING THE PU~RPOSE FOR WHICH TAXES ARE NECESSARY, FIXING THE ~40UNT OF MONEY NECESSARY TO BE RAISED BY TAXATION, FIXING OF RATE OF TAXES 1980-1981 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 South Tahoe Public Utility District during the fiscal year 1980-1981 are in- adequate to pay the principal or interest on the bonded debt of said District incurred in the yearsl 1959-1960 during said fiscal year, and that the interest and sinking fund payments for said fiscal year cannot be met out of surplus earnings for said year for the public utility work for which said bonds were issued, and that said payments cannot be met out of monies of the general fund of said District, appropriated or transferred to the sinking fund of the public utility for which said bonds were issued, and therefore, taxes shall be levied for such purposes to pay the annual interest on said bonds to pay such part of the principal as will fall due in the fiscal year 1980-1981 and to provide for sinking fund payments of the next succeeding fiscal year. 2. The amount of money necessary to be raised by taxation during the fiscal year 1980-1981 for the payment of said annual interest on said bonded debt incurred during the years 1959-1960 for said fiscal year and for the payment of such part of the principal as will fall due during said fiscal year is One Hundred Eighty-Seven Thousand Dollars ($187,000) and the rate of taxation for said purpose based on the number of cents upon each One Hundred Dollars ($100.00) value of property assessed by the E1 Dorado County Assessor and returned to the Board of Supervisors of said County by the Auditor of said County is hereby fixed by the Board of Directors of said District at $0.0675 and therefore levied at $0.0675 per said One Hundred Dollars ($100.00) assessed value of said property within the District. 3. It is hereby determined that revenues of South Tahoe Public Utility District during the fiscal year 1980-1981 are inadequate to pay the principal or interest on the bonded debt of said District incurred in the years 1951-1952 during said fiscal year, and that the interest and sinking fund payments for said fiscal yaar cannot be met out of surplus earnings for said year for the public utility or public utility work for which said bonds were issued, and that said payments cannot be met out of the monies of the general fund of said District appropriated or transferred to the sinking fund of the public utility for which said bonds were issued, and therefore, taxes shall be levied for such purposes to pay the annual interest on said bonds, to pay such part of the principal as will fall due in the fiscal year 1980-1981 and to provide for sinking fund payments of the next succeeding fiscal year. 4. The amount of money necessary to be raised by taxation during the fiscal year 1980-1981 for the payment of said annual interest on said bonded debt incurred during the years 1951-1952 for said fiscal year and for the payment of such part of the principal as will fall due during said fiscal year, and to provide for the sinking fund payment of the next succeeding fiscal year is Thirteen Thousand Dollars ($13,000.00) and the rate of taxation for said purpose based on the number of cents upon each One Hundred Dollars ($100.00) value of property assessed by the E1 Dorado County Assessor and returned to the Board of Supervisors of said County by the Auditor of said County is hereby fixed by the Board of Directors of said District at $0.0045 and therefore levied at $0.0045 per said One Hundred Dollars ($100.00) assessed value of said property within saidDistrict. 5. 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 South Tahoe Public Utility District at three (3) public places in said District, and at least one (1) week before the expiration of said thirty (30) day period, this Ordinance shall be published in the Tahoe Daily Tribune, a newspaper of general circulation, printed and published in the said District, one (1) time. 6. A certified copy of this Ordinance shall be transmitted to the County Auditor of the County of E1 Dorado, and to the County Treasurer of the County of E1 Dorad~o, upon its adoption. PASSED AND ADOPTED at a duly held meeting of the Board of Directors of the South Tahoe Public Utility District on Septem- ber 4, 1980, by the following vote: AYES: DIRECTORS OLSON, KASHUBA, WYNN, MADDEN AND JONES NOES: ~?ONE ABSENT: NONE ~-~---~W~lter "Neal"--~±~on, President of the Board SOUTH TAHOE PUBLIC UTILITY DISTRICT ATTEST: mary D-. -.~k~br0se, Cie~k and Ex-officio Secretar~of the Board SOUTH TAHOE PUBLIC UTILITY DISTRICT STATE OF CALIFORNIA COUNTY OF EL DORADO AFFIDAVIT OF P~ ORDINANCE NO.~ ) )ss ) CHESTER A deposes and says: HORNING, being first duly sworn, That for and on behalf of the Clerk and ex- officio secretary of the SOUTH TAHOE PUBLIC UTILITY DISTRICT affiant posted copies of ORDINANCE NO. 3 1 9 in form attached hereto and by reference made a part hereof, in three public places in the District, as follows: 1. City Of SouthAL~ke Tahoe Administration Bldg. South Lake Tahoe, Ca. 2. Bijou Post Office Station South Lake Tahoe, California 3. Tahoe Valley Post Office Station South Lake Tahoe, California day of That said posting was completed on the September , 1980' 5th Chester A. Horning ~/ Subscribed and sworn to before me this 5th day of September , ~x~x 1980 ~~~o//~' i~c in~an~d four the/~Co~~:%~y ~u~ic~- y El'~orad~St~te' of California. My Commission Expires 11/19/§2.