Reso 0607-06/1981 RESOLUTION NO. 607
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
SAN MARCOS COUNTY WATER DISTRICT, CALIFORNIA,
PROVIDING FOR THE USE OF AVAILABLE DISTRICT
FUNDS TO PAY DELINQUENT ASSESSMENTS IN
ASSESSMENT DISTRICT NO. 76-2 (MT. WHITNEY)
WHEREAS, this Board of Directors has by its Resolution No.
579 made certain determinations, confirmed assessments and pro-
ceedings and ordered proposed improvements in the matter of
Assessment District No. 76-2 (Mt. Whitney); and
WHEREAS, this Board of Directors by its Resolution No. 550
adopted on August 18, 1980, as amended by said Board on June 29,
1981, by Resolution No. 604 authorized the issuance of Bonds
pursuant to the Improvement Bond Act of 1915 ("Act"); and
WHEREAS, pursuant to said Act the District may be the pur-
chaser at any delinquent sale of property in Assessment District
No. 76-2 sold for the non-payment of assessments if the District has
available funds in its treasury with which to make the payment of
the delinquent assessments.
NOW, THEREFORE, the Board of Directors of the San Marcos County.
Water District DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:
SECTION 1. This Board of Directors recognizes the provisions
of the Improvement Bond Act of 1915 relating to the use of available
funds of the District to make payment of the amount of the delin-
quent assessments and interest for which property in Assessment Dis-
trict No. 76-2 may be sold. The Board of Directors agrees that it
will follow the provisions of the Improvement Bond Act~of 1915 and
if in the future properties in Assessment District No. 76-2 are sold
for the nonpayment of assessments the Board of Directors w,ill., to the
extent it has available funds in the Treasury of the District, use
said funds to make payment of the amount of the delinquent assess-
mebt. The Board of Directors considers that available funds in
the Treasury of the DistriCt as defined in the Improvement Bond Act
of 1915 is all funds of the District the use of which is not restric-
ted by law and which are not otherwise encumbered at the time of
sale on foreclosure. It is the understanding of this Board of
-1-
Resolution No. 607
Directors that any District funds used for said purpose will be
returned to the District's Treasury upon the resale of the property.
ADOPTED, SIGNED AND APPROVED this 29th day of June, 1981, by
the following vote:
AYES: Directors: Holm, Waller, Mason, Mahr, Ferguson
NOES: Directors: None
- ABSTAIN: Directors: None
ABSENT: Directors: None
(SEAL)
ATTEST:
'~c~S~rcos County
-2-