Reso 0193-10/1962
RESOLUTION NO. 193
RESOLUTION OF THE BOARD OF DIRECTORS OF SAN MARCOS
COUNTY ~TER DISTRICT AUTHORIZING SAID DISTRICT TO
ISSUE $30) 000 NEGOTIABLE PROMISSORY NOTE AND
PROVIDING FOR THE ISSUANCE AND SALE BY SAID DISTRICT
OF $30,000 OF SAID NOTES.
~REAS, San Marcos County Water District of San
Diego County, California, hereinafter called the "district",
is a county water district duly organized and existing under
the County Water District Act, and
WHERFAS, the district needs funds for its lawful
expenses; and
WHEREAS" the district pursuant to Section 31304 of
the Water Code of the above entitled act) may issue negotiable
promissory notes; and
WHEREAS, the Security First National Bank has offered
to lend said district certain amounts, up to the sum of $30,000
upon a negotiable promissory note which shall be general obli-
gations of the district, to bear interest from their date to
the date of payment thereof at the rate of four per cent (4%)
per annum, dated as of the date the money is advanced and pay-
able on or before 120 days from the date thereof;
NOW, THEREFORE, the Board of Directors of the San
Marcos County Water District DOES HEREBY RESOLVE, DETERMINE
AND ORDER AS FOLLOWS:
Section 1. That the Board of Directors of said
district hereby finds and determines that funds are needed
for the immediate lawful expenses of said district, and that
in order to provide funds with which to meet such obligations
it is necessary and desirable that the district authorize the
issuance of a $30,000 negotiable promissory note which shall
be a general obligation of the district payable from revenues
and taxes in the same manner as bonds of the district.
- 1 -
Section 2. That the total aggregate amount of
said notes outstanding at anyone time may be at least equal
to twenty-five thousand dollars ($25,000) but shall not
otherwise exceed the lesser of either two hundred fifty thou-
sand dollars ($250,000) or two per cent of the assessed
valuation of the taxable property in the district or, if
said assessed valuation is not obtainable, two per cent of
the county auditor's estimate of the assessed valuation of
the taxable property in the district evidenced by his certi-
ficate.
Section 3. That the amount of $30,000 hereby
authorized does not exceed any limitation set forth in
Section 2 hereof, and that no other such notes of said
District are outstanding.
Section 4. That the district and this Board of
Directors hereby promises and agrees and hereby represents
that the proceeds from the sale of said notes will be
expended only for the legally authorized purposes of the
district.
Section 5. That the note evidencing such indebt-
edness shall be negotiable and in substantially the following
form, to wit:
- 2 -
SAN MARCOS COUNTY WATER DISTRICT
SAN DIEGO COUNTY, CALIFORNIA
Ne~otiable Promissorv Note
¡ I ðc 7ût($&!¿ ,1962
No. J
FOR VALUE RECEIVED by the undersigned district,
said district promises to pay to the Security First National
Bank, San Marcos Branch, San Marcos, California, or order,
on or before g kd3Utí-.?LJ-t:'Ý , 196~ the sum of
-..----- 'T'hir1-17 ThnTÍ1~,qnñ ------------------------ DOLLARS
($~nJonn.nn ) with interest thereon from the date hereof
at the rate of four per cent (4%) per annum until this note
is paid.
Both principal and interest are payable in lawful
money of the United States of America at the Security First
National Bank, San Marcos Branch, San Marcos, California.
The right is reserved to said district to pay this note prior
to the maturity date hereof, in which event the interest due
to date on the amount so paid shall be paid along with such
payment of principal, and interest shall cease on the amount
of principal so paid.
SAN MARCOS COUNTY WATER DISTRICT
(SEAL)
By' ~~~f/
Counter signed:
~~.k
ecretary
- 3 -
Section 6. That the Board of Directors of said
district hereby finds and determines that at the present
time it is necessary and desirable that the district borrow
from the Sec~ity First National Bank the sum of $30,000,
said sum to be borrowed on said negotiable promissory notes
of the denomination of $30,000, to be dated as of the date
~~e money is advanced to mature on orbeœore 120 days from
the date thereof and to be payable with interest thereon at
the rate of four per cent (4%) per annum. Said note shall
- .
be issued according to the terms and substantially in the
form provided in this resolution.
Section 7. That the president of said district
and of said board is hereby authorized and directed to sign
said note, and the secretary of said district and of said
board is hereby authorized and directed to countersign and
seal said note and to date said note the day the principal
amount thereof is actually paid to the treasurer of the said
district by said bank, and to deliver said note so dated,
sealed, signed and countersigned to said bank upon the pay-
ment therefor to the said treasurer~
ADOPTED, SIGNED AND APPROVED THIS
1st
day of
October
, 1962.
thereof.
ø 4 -
STATE OF CALIFORNIA )
SAN MARCOS COUNTY WATER DISTRICT) ss
COUNTY OF SAN DIEGO )
I,
Jeanne M. Gist
, Secretary of
the San Marcos County Water District and of the Board of
Directors thereof, hereby certify that the foregoing resolu-
tion was adopted by said Board of Directors at a__regular
meeting of said Board held on the
1st
day of
October
1962, and that it was so adopted by the following vote:
A YES :
Directors Blanchard, Mahr, Smith and
Trussell
NOES:
ABSENT:
None
Directors one directorship vacant
{, ,)
//'~:'-<~:'ê/·t-
o sa~ D~str1ct an 0
of Directors thereof.
STATE OF CALIFORNIA )
SAN MARCOS COUNTY WATER DISTRICT) ss
COUNTY OF SAN DIEGO )
I,
Jeanne M. Gist
, Secretary of the San
Marcos County Water District and of the Board of Directors
thereof, DO HEREBY CERTIFY that the above and foregoing is
a full, true and correct copy of Resolution No. 193 and that
the same has not been amended or repealed.
DATED:
October 1
, 1962 .
¡ .~
)-2:,£
(
--./7
//) .
sa~ ~str1ct an
of Directors thereof.
- 5 -
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Exclusion: Portion W~ Section 5, TllS, R3W, S.B.B.& M.
(approx. one acre)
Inclusion: Lot 3 Block 108 Rancho Los Vallecitos de San Marcos
(approx. 9~ acres)
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TO: Security Firat .ational Bank
San Marco., Ca11fohia
SlGRATUU CUTIFlCAfE
we t the under8i&ued officers of the Sea Marcos COUDty
watex' 01atr1et, San Dieso County, State of California. indicated
by the official titl.. opposite our re.,4tCt1ve slgnatures. 00
HiREBY CEi.Tllt"Y that tie h.ave 8!&ned temporary neloti.!.t~16?: not~ in
tbe aUlD of $30,000.00 of San Marco. County water DI8'trf..ct, ¡satl
Diego Count,) State of California, dated '''_,,~ ocr 1 ~.·ô~,_...._.,.., l!ì62.
bearl11& interest at 41 per an....., payable 011 or before 120 <!aya
from t.he datetb.ereof, and aUllbered and. maturin¡ .. follew.:
NUMI¡k
~i.OKll4!~e'.
$30,000.00
,~T~~~_..~W1tI~
On 01' before 120 08y.
fT~ the dI,t~ th~~eol
we beiDj at the time we etlne" uid not. ttndalsc Gn the ,iate
of tb1ø eert1f1eate. which is thedat~ of actual delivEry of
8ald note to S.curlty Fi'tat National Bank, tbe duly chosen.
qualified and .c:tin¡ officers indicated therein and eu,thorlaed
to ...cute tbe .....
wE FUiTHER ¡~£i:TI'Y that no litigation of any it&tuX. t.
now pendiq, ortbr.at.ned r.øtra11'\lng or enjo1nir.. th~ 18SUAI1C.
and delivery of sai.d note or th~ levy and
If!~t!.cn ~f tax.. to
pay the interest and principal or 111\ any !Nmn~r q'Ue3t1,()n1~ the
proceed1aa8 or theeutbor1ty und~T which .aId !Sote 11 i.au.d. or
affectia¡ the validity of tbe' not~ tber~under; that n~i theíf' the
COTpO'l-Øtft extf\tence nor boundar11l8 of aald dj~tr1i~t -tilT ~J!i~
~oun,t1 nor the title of the pre8~'Q.t offf,tC':!r:~ to th«l'J" rfi::ipf::n~ttve
offic.e,*~ 1. b.inB ~·t';'tntœ.teð; an~. t;~!1t tlv ~,'t.ep¡µ ~?:'X'
~~
any kind have been taken to revoke t r;l\~till or r~pe..l the proceed-
ing8 for the i..u.anee of laid note..
.. 1 ..
the c.o;rpor~ t(> *~al ,r:;¡, fS;a:it Harcos CøUDt,~·.t...t)1 ¡jtri_ ~ 1:
1. _~-\ i i-~aó cfisaid notfi-.
OCT 1 1 '62
_)~ tt!-d:
~t.i .tj
.~..~,
:18Y of _
,~._.
l:ì62.
~.t-RTIF l~~~'..:, twsr i~t~Mt Ü¡,tl$. Å 3r¡~"O.i\Ei. t _~
~~_ 'r ":r: 1 ?T)
Offl~tal 'fitl.
...~~,~---~,~":.~,'"~...--;"-~'
/'" _ ~ __ /i/l
í J' ì\ í (7,(/1 .
L/.L<~~t--:?:~~ F'r.sUct
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_ _~l_'L'(;I\...ý _711---- . /0 <'~_
, )
< ~ :~ 'f". ..u t'.
5~_~..Lì·~~-~~;~_=!,.,~_~....
Secretary
l ~£KEBY CEl{:rtFY that each of t~b. .bOVE sllnatureø is
?n,:~,; ,tnð ~e'F,\;¡;,1ne ~;lin.tœ~ of the perfJou who 1iJ n'Ow the d.uly
f:ht;~'$:'r;. tf~¡,¡;ßl1fted ~n.è ~{J.ti~\,t""ffic1"r tndl(:æt~~ hv the ofllcitml
tit'l ~ f~1.1oving such ~:t¡~J:1,a.t.YXf;.
/.' f~,
,_.,~,,______-.&:__..,.:l:2;.,.~~~._~.i· r. _il.at
Ca..Le.
SECURITY FIRST l'TATIONA'L BANK:
;<In1 .. u
:"IT. L __!_Ji.~,."."f"4.""""""""""'1>F1
.4'"
ßaak
., 2: ..
TO: Security First National Bank
San Marcos, California
AUDITOR'S
~ RECEIPT
1,
11t/· J):; /7 fIr S ),h (/ ci
, .t.. . ' ~
("J f!", ,- ,'/
{,,-\\.·'l D /, I ðlf.....~
tre46urn of
the San Marcos County Watex' District) San Diego Count", State
of I1fornia, DC HER~BY CERrlFY that I have, on the date of
thi@ ~;'~(,:>eipt, l'E!ceive¿ from Sréca:t'ity First National Bank,
Pll.[<>¡ ~ ,~e:r 18 thf'rt;of) the pÛrChSai\€ rice fOt $30.
.00 temporary
ne&ctla'b l.e nc(te cf sa:':l Marc.ç·s G(j;b,,.J,1ty watex: ôit.Jtr'ict, San Diego
County, jtate of California, dated ~
OCT
'f)! Ij 62
.....,¡~~·¡..;_i"__...'"'" ) ,
bearin..$ interest at 4% ~et ;¡;llU1l1im, payable on or 'before 120 days
from tl'1E rlat~ :hereof J and t;;umbered .mnd n~aturing as follow.&>:
NUMBE~
DENOMINATION
DATE OF HA.TURIIY
~ ~
$JC,
;."'~ ;;""'\
. uti
(¡lj~ or before 120 days
from the date thereof
said purcha~e pricE being the sum of $30,000.00, the par value
of said temporary neäotlable note.
. \ *''^-.
Oa,teð thi:$ ~f¡ day af
{\
r~' ,S:-¡-,,\
\ " j \\'" 0\\. fl, '\,
, 1962.
'\
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\ ", ''', ~
\\.:':> '~':,~ , ~ ,~ì. xÒ' r-,(", )
tX8aB8~.¥ AUd1tor