HomeMy WebLinkAbout1981-09-24 - Resolution No. 81-15. r • 0
RESOLUTION NO. 81-15
RESOLUTION OF THE BOARD OF DIRECTORS
OF YORBA LINDA COUNTY WATER DISTRICT,
REQUESTING APPROVAL OF SCHEDULE OF PRO-
POSED EXPENDITURES FOR ITS 1979 WATER
BONDS, SERIES B
WHEREAS, this District has completed proceedings
for the authorization of general obligation bonds for Yorba
Linda County Water District in the amount of $41,660,000
pursuant to an election held on June 13, 1978; and
WHEREAS, this Board has adopted a resolution of
issuance of a portion of said authorized bonds in the amount
of not-to-exceed $12,000,000 to be designated "YORBA LINDA
COUNTY WATER DISTRICT, 1979 WATER BONDS, SERIES B"; and
WHEREAS, the Districts Securities Division of the
Office of the State Treasurer has approved the bonds for
certification and the District wishes to have an estimated
schedule of expenditures approved in anticipation of the
sale of the bonds on October 27, 1981; and
WHEREAS, this Board has duly considered the esti-
mated costs of constructing the facilities as set forth in
the schedule attached hereto as Exhibit "A";
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND
ORDERED that the attached schedule of proposed expenditures
be, and the same is hereby approved by this Board.
BE IT FURTHER RESOLVED, DETERMINED AND ORDERED that
this Board does hereby request approval of said schedule of
proposed expenditures by the Districts Securities Division
of the Office of the State Treasurer and that the General
Manager, or his designee, be, and the same is hereby
authorized and directed to file a certified copy of this
resolution with the Districts Securities Division of the
Office of the State Treasurer.
ADOPTED, SIGNED AND APPROVED this 24 day of
September , 1981.
-Pr
ei entL6 the Yorba Linda
County Water District and of
the Board of Directors thereof.
(SEAL)
ATTEST:
~ iii i~e~G[/~►.~~/~eL¢~
Secrk.tary to Yorba Linda
Co ty Water District and of
the Board of Directors thereof.
•
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
0
I, Jean E. Mathews, Secretary of the Board of Directors of the Yorba Linda
County Water District, do hereby certify that the foregoing resolution was
duly adopted by the Board of Directors of said District at a regular meeting
of said Board duly held on the 24th day of September, 1981 and that it was
adopted by the following vote:
AYES: Directors: M. Roy Knauft, Jr. Howard W. Lindow, Fred G. Clodt
Arthur C. Korn and Whit Cromwell
NOES: Directors: None
ABSENT: Directors: None
ABSTAIN: Directors: None
Secr ary of the Board of Directors
Yorba Linda County Water District
SEAL
YORBA LINDA COUNTY WATER DISTRICT
IMPROVEMENT DISTRICT NO. 2
SERIES "B" BONDS
Estimated Project Costs
Reservoirs (2.0 MG and 0.5 MG) $
1,260,000
Transmission mains
415,000
Bryant Cross Feeder
1,694,000
Pump Station
250,000
Telemetry
150,000
Engineering
568,000
Reimbursements to developers
622,000
Land acquisition (6 acres)
300,000
Lease payments for Diemer Intertie (2 years)
100,000
Subtotal $
5,359,000
Funded interest (1 year)
945,000
Reserve fund
536,000
Provision for bond discount and debt service insurance...
577,000
Costs of bond issuance
83,000
Contingencies
375,000
Total Costs $
7,875,000
EXHIBIT "A"