Reso 0169-08/1961 RESOLUT I ON NO. 169
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE SAN MARCOS COUNTY WATER DISTRICT ESTI-
MATING THE MINIMUM AMOUNT OF MONEY REQUIRED
TO BE RAISED BY TAXATION FOR THE FISCAL
YEAR 1961-1962 TO PROVIDE FOR THE PAYMENT
OF INTEREST AND PRINCIPAL ON ITS BONDED
DEBT AND CLAIMS AGAINST THE DISTRICT AND
EXPENSES TO BE INCURRED BY THE DISTRICT.
BE IT RESOLVED by the Board of Directors of the San Marcos
County Water District as follows:
WHEREAS, the Board of Directors of the San Marcos County
Water District is required to furnish the Board of Supervisors
of the County of San Diego, and the County Auditor of said County,
with a statement containing the information, facts and estimates
required by Section 31701 of the Water Code of the State of Calif-
ornia and
WHEREAS, San Marcos County Water District has heretofore in-
cuffed a bonded debt in the principal amount of $2,248,000 for the
benefit of the whole district and the district will be required to
make payments of interest and the principal on said bonded debt
during the present fiscal year, and
WHEREAS, San Marcos County Water District Improvement District
No. 5 has heretofore incurred a bonded debt in the principal amount
of $600,000 for the benefit of the whole of Improvement District No.
5
but only Improvement District No. 5 and that said Improvement Dis-
trict will be required to make payments of interest and the principal
on said bonded debt during the present fiscal year, and
WHEREAS, this Board of Directors has heretofore caused a study
to be made of the revenues which will be received by San Marcos
during this fiscal year, the expenses that will be incurred and the
claims which will have to be paid during said period, and it is
apparent that it is going to be necessary to levy taxes on all of
the taxable property within the District to provide for the payment
of interest and principal on the District's bonded debt and claims
against and expenses incurred by the District.
NOW, THEREFORE, the Board of Directors of the San Marcos
County Water District states, finds., determines, and orders that
SECTION X:
A - That in the judgment of the Board of Directors of the
San Marcos County Water District the revenues of said District for
the fiscal year 1961-1962 are likely to be inadequate to pay the
interest and principal on its bonded debt, the expenses of the
District and claims against the District that will be incurred
and fall due during this fiscal year.
B - That in the judgment of the Board of Directors of the
San Marcos County Water District the revenues of said Improvement
District No. 5 for the fiscal year 1961-1962 are likely to be in-
adequate to pay the interest and principal on its bonded debt, the
expenses of improvement District No. 5 and claims against Improve-
ment District No. 5 that will be incurred and fall due during this
fiscal year.
A - That it is estimated that the minimum amount of money re-
quired for the payment of interest and principal on the bonded debt
of the San Marcos County Water District as it becomes due is
$104,423.87.
t is estimated that the minimum amount of money re-
B - That
quired for the payment of interest and principal on the bonded debt
Of Improvement District No. 5 as it becomes due is $24,879.95.
SECTION III
A - That the whole San Marcos County Water District was hens-
fired by incurring said bonded debt.
B - That the whole Improvement District No. 5 was benefited
by incurring said bonded debt.
SECTION: That it is estimated that the minimum amount of
money required by the San Marcos County Water District and Improve-
ment District No. 5 for all other expenses of, and claims against
the said Districts is nil.
That the statement required by 31701 of the
Water Code of the State of California be furnished to the Board of
Supervisors and the Auditor of the County of San Diego on or
before the 16th day of August, 1961.
DATED: August 8, 1961
STATE OF CALIFORNIA
) as.
COUNTY OF SAN DIEGO
X, W. Dennis Wood, Secretary of the Board of Directors
of San Marcos County water District DO HEREBY CBErlFY that the
foregoing Resolution No. 169 was duly adored by the Board of Direc-
tors of said district at an adjourned regular meeting of said
Board held ~n the 8th day of August , 1961, at that it was so adopt-
ed by the following vote:
AYESs Directors: Blanchard, Dodds, Mahr, Smith and
Trussell
NOES: Directors: Hone
ABSENT: Directores None
District and of the Board of Directors
thereof.
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
X#.. W. Dennis Wood, Secretary of the Board of Directors
of San Marcos County Water District, DO HEREBY CERTIFY that the
above and foregoing is a full, true and correct copy of Resolution
No. 169 of said Board, and that same has not been amended or
repealed.
DATED: August 9, 1961
District and of the Board of Directors
thereof.
STATEMENT OF THE BOARD OF DIRECTORS OF
THE SAN MARCOS COUNTY WATER DISTRICT,
A COUNTY WATER DISTRICT ORGANIZED UNDER
THE COUNTY WATER DISTRICT LAW, FURNISHED
PURSUANT TO THE REQUIREMENTS OF SECTION
31701 OF THE WATER CODE OF THE STATE OF
CALIFORNIA.
To the Honorable Board of Supervisors of the County of
San Diego, and to J. C. Perrigo, as Auditor for said
county
The Board Of Directors of the San Marcos County water District,
pursuant to the water Provisions of Section 31701 of the Water Code
of the State of California, hereby furnishes you, and each of you,
with the following estimates and statements.
A. (1) The minimum amount of money required for the payment of
the principal and interest on the bonded debt of the
San Marcos County Water District, as it becomes due, is
estimated to be $104,423.87.
(2) The minimum amount of money required for the payment
of the principal and interest on the bonded debt of
San Marcos County Water District Improvement District
No. 5, as it becomes due, is estimated to be $24,879.95.
That the whole San Marcos County Water District and San
Marcos County Water District No. 5 was benefited by
incurring said bonded debt.
C. That the minimum amount of money required by the San
Marcos County Water District and San Marcos County Water
District Improvement District No. 5 for other expenses
and claims against the said Districts is estimated
be nil.
D. The San Marcos County Water District has not by Ordi-
nance or otherwise declared that Chapter Two of Part
Seven, of Division Twelve, of the California Water Code,
shall not be operated with respect to the San Marcos
County Water District, and has never elected to pro-
ceed under Chapter Two, Part Seven, Division Twelve,
of said Water
To the Honorable Board of Supervisors of the County of San
Diego and to J C. Portia, as Auditor for said County
E. That a copy of the Resolution of the Board of
Directors of San Marcos County Water District
determining that in the Judgment of said Board
the revenues of the District will likely be in-.
adequate to pay the interest and principal on the
said Districts" bonded debt, and the expenses to
be incurred by the said Districts, and claims
against the said Districts as they become due is
attached hereto.; as Exhibit A.
BOARD OF DIRECTORS OF THE SAN
MARCOS COUNTY WATER DISTRICT
Dated: August 7, 1961