Reso 0500-12/1978 RESOLUTION NO. 500
RESOLUTION OF THE BOARD OF DIRECTORS OF
SAN MARCOS COUNTY WATER DISTRICT APPROVING
AGREEMENTS RE LETTERS OF CREDIT
(Assessment Districts 76-1 and 76-3)
WHEREAS, in order to assist the San Marcos County Water District
in the successful completion of Assessment District proceedings and the
sale of its bonds pursuant to the Improvement Bond Act of 1915, certain
owners of property in Assessment Districts No. 76-1 and No. 76-3 have
agreed to defer the return of certain funds advanced to the District by
them and to make such funds available to the District for use as a
special reserve fund in connection with such bonds; and,
WHEREAS, written agreements between the District and such property
owners establishing the manner in which the aforesaid funds will be
utilized to provide a special reserve for the bonds have been presented
to this Board of Directors for its consideration; and
WHEREAS, this Board of Directors wishes to approve said agreements,
NOW, THEREFORE, the Board of Directors of the San Marcos County
Water District hereby does determine, resolve, and order that the aforesaid
agreements between the San Marcos County Water District and each of the
property owners hereafter named are approved ;and the President of this
Board of Directors and Secretary of the District hereby are authorized
and directed to execute said agreements on behalf of the District. Said
land owners are the follows:
Assessment District No. 76-1
Calvin L. Foss
Charles W. and
Millicent D. Froehlich
Daniel A. and
Virginia Baker Grant
Emilie Lewin
San Diego Trust and
Savings Bank, Trustee
Clyde Hufbauer
Assessment District No. 76-3
La Costa Land Company
ADOPTED, SIGNED AND APPROVED this 18th day of December, 1978,
(SEAL)
ATTEST:
Secretary, San Marcos County
Water District
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STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
I, JAMES F. McKAY, Secretary of the San Marcos County Water District,
California, DO HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Board of Directors of said District at a meeting of said
Board of Directors held on the 18th day of December, 1978, and that it was
so adopted by the following vote:
AYES: DIRECTORS: Keebaugh, Ferguson, Mahr, Blanchard
NOES: DIRECTORS: None
ABSENT: DIRECTORS: None
ABSTAIN: DIRECTORS: Smith
Secretary, San Marcos County
Water District
(SEAL)
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STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
I JAMES F. McKAY, Secretary of the San Marcos County Water District,
California, DO HEREBY CERTIFY that the foregoing is a full, true and
correct copy of Resolution No. 500 of the Board of Directors of said
District, and that the same has not been amended or repealed.
Dated: December 18, 1978.
County
(SEAL)
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