Reso 0005-06/1955RESOLUTION NO. Y.
WHEREAS, it is going to be necessary for the San Marcos County District to construct
facilities for the de live it and transportation of water at the commencement of the 1956
irrigation Beeson in certain areas in which there is e deficiency of local water by revson
of the unpre cede x4 ed drought; and
"HtEAS, the Sen Marcos County ;ater Di strict will not receive arty tax revenue until
December of 1956 or January of 1957, and. it is necesse Yy that the District procure funds
to pay administrative, operating and. organizational expenses, and to defray the cost of en
election authorising the issuance of bonds by the District to pay the cost of the water
facilities which bc.ve to be installed by the District prior to March of 1956, en. to pay
engineering exp erre s incurred in oa nnectio n with the preparation of repo xt s and plane and
specifications;
NC'f, p WQSE, IT sza) ORD that the San Marcos County Water District borrow from
the r'IRSr fir'TICSIii;L Bt t( 0r' 'VISTA. not to exceed the cum of Forty Thousand Dollars (44,000.l,
said monies to bra borrowed from time to time when the affairs end business of the District
necessitate the seaurin; of said monies; and that the proper officers of this Di strict, to
wits the President and the Treasurer, be and they are hereby authorised to execute any and
all promisory notes, contracts or other documents rs3oessery or required in connection ith
borrowing Geld sum or sone of money; said documents to contain such terms and provi sione
as my be agreed upon between said bank and between the President and. Treasurer of this
District, provided, however, that the interest rate shall not exceed three and one quarter
percent (3-1/4) and that any note or notes which aeay be executed shall mature subsequent
to January 1, 1957; and
2,E Ii 1 3RPMER REEDLVED tbet the Treasurer be and he is hereby authorized to deliver any
and all notes so executed upon receipt of the principal amount of said note or notes, aril
he is hereby autho ri ted and directed to do Lay and all other acts required in connection
wit securing said funds as they ere needed by this District from time to time.
(over)
szaz OF CA LIADRNIA.
COUNT OF AN DiEUO
SA& MARCO S COUNT
1R DISTRICT
SS.
I, Mary J. Ford, hereby certify and state that I am the duly elected,
qualified and acting Secretary of the Board. of Di +e c tors of and of the San Marcos
Cony Water District, and that Resolution No. V was adopted by the Board of Directors
of said San itaaroos County cat o r District at a special meeting held on the let day of
June, 1955, arnd that the foregoing is a full, true and. correct copy of said Resolution
No. V.
Score tar
the San .rw :cos County icor District.
e Board of f and of