Reso 0286-08/1967 RESOLUTION NO. 286
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SAN MARCOS COUNTY WATER DISTRICT ESTIMATING
THE MINIMUM AMOUNT OF MONEY REQUIRED TO BE
RAISED BY TAXATION FOR THE FISCAL YEAR 1967-
1968 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 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 California,
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 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 District will be required to make payments
of interest and the principal on said bonded debt during the
present fiscal year, and
Resolution NO. 286 Page 2
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 I:
A. That in the judgment of the Board of Directors
of the San Marcos County Water District the revenues of said
District for hhe fiscal year 1967-68 are likely to be inadequate
to pay the interest and principal on ihs bonded debt, the expense
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 1967-68 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.
Resolution NO. 286, Pagc 3
SECTION II:
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 $126,600.
B. That it is estimated that the minimum amount of
money required for the pavment of interest and principal on
the bonded debt of Improvement District No. 5 as it becomes
due is $36,100.
SECTION III:
A. That the whole San Marcos County Water District
was benefited by incurrinq said bonded debt.
B. That the whole Improvement District NO. 5 was
bcnefited by incurring said bonded debt.
SECTION IV:
That it is estimated that the minimum amount of money
required for the San Marcos County Water District and Improve-
ment District No. 5 for all other expenses of, and claims
against the said District 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 10th of August, 1967.
Resolution NO. 286, Page 4
of the San Marcos County Water District
ATTEST:
ry of the San Marcos County
trict and the Board of
Directors thereof
STATEMENT OF FACTS
TO: The Secreterr of State, State of California, an~
County Clerk of the County of San Diego
The following statement of facts is made pursuant to
Government Code Section 53051:
l. Legal Name of Agency: San Marcos County Water District
2. Official Hailing Addressz 788 w. Encinitas Reed, San
Marcos, California 9Z069.
So Names and addresses of members of governing body:
a. Oby Blanchard, Route l, Box 5306, San Marcos,
California 92069
b. Scott J. Dow. 1488 San Pablo Drive, San Marcos
California 92069
c. Stanley A. Mahr, P. O. Box 306, San Marcos,
California 92069
d. Norman Paul, P. O. Box 217, San Marcos, California,
92069
e. Jack L. Vanderbeck, 1713 Redwing, San Marcos,
California 92069
4, Names and addresses of presiding officer and secretary:
a. Oby Blanchard, President, Route 1, Box 5306, San
Marcos, California 92069
b. C. J, Houson, Secretary~ 414 Silver Spur Way San
Marcos, California 92069
Dated: August 7, 1907
SAN ~4ARC~Co~{CDUNTY WATBR DISTRICT
Boar f iroctors o£ said District