Reso 0201-05/1963 RESOLUTION NO. 2 0 1
RESOLUTION OF THE BOARD OF DIRECTORS OF
THE SAN MAES COUNTY WATER DISTRICT ESTI-
MATING THE MINIMUM AMOUNT OF MONEY REQUIRED
TO BE RAISED BY TAXATION FOR THE FISCAL YEAR
1963-64 TO PROVIDE FOR THE PAYMENT OF INTEREST
AND PRINCIPAL ON ITS BONDED DEBT AND CLAIMS
AGAINST THE DISTRICT AND EXPENSES TO BE IN-
CURRED 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 Dis-
trict is required to furnish the Board of Supervisors of the County of San
Diegos and the County Auditor of said Countys with a statement containing
the informatione facts and estimates required by Section 31701 of the Water
Code of the State of Californias and
WHEREAS San Marcos County Water District has heretofore incurred 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 Improve-
ment District No. 5 and that said improvement District 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
ears 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
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
1963-64 are likely to be inadequate to pay the interest and principal on
its bonded debt, the expenses of the District and claims against the Dis--
trict 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 1963-64 are likely to be inadequate to pay the interest and
principal on its bonded debt, the expenses of Improvement District No. 5
and claims against Improvement District No. 5 that will be incurred and fall
due during this fiscal year.
SECTION
A - That it is estimated that the minimum amount of money required
for the payment of interest and principal on the bonded debt of the San
Marcos County Water District as it becomes due is $121,478.
B -That it is estimated that the minimum amount of money required
for the payment of interest and principal on the bonded debt of Improvement
District No. 5 as it becomes due is $25,356.
SECTION III
A -That the whole San Marcos County Water District was benefited
by incurring said bonded debt.
B - That the whole Improvement District No. 5 was benefitted by in-
curring said bonded debt.
SECTION IV That it is estimated that the minimum amount of money
required by the San Marcos County Water District and Improvement District
No. 5 for all other expenses of, and claims against the said Districts
is nil.
SECTION V 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 19th day of August, 1963.
DATED, August 5 1963
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
I, W. Dennis Wood, Acting-Secretary of the Board of Directors of
San Marcos County Water District DO HEREBY CERTIFY that the foregoing
Resolution No. 201 was duly adopted by the Board of Directors of said
District at a regular meeting of said Board held on the 5th day of August,
1963, and that it was so adopted by the following votes
AYES: Directors: Blanchard, Mahr, Paul, Smith and
Trussell
NOES: Directors: None
ABSENT: Directors: None
SEAL
Acting-Secretary oF San Marcos County
Water District and of the Board of
Directors thereof.
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
I, W. Dennis Wood, Acting-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. 201 of said
Board, and that same has not been amended or repealed.
DATED: August 5, 1963
Water District and of the Board of
Directors thereof.
SEAL