Reso 0399-07/1975 RESOLUTION NO. 399
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 1975-1976 TO
PROVIDE FOR THE PAYMENT OF INTEREST AND PRINCIPAL
ON ITS BONDED DEBT AND CLAIMS AGAINST THE DIST-
RICT AND EXPENSES TO BE INCURRED 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, and
WHEREAS, San Marcos County Water District has heretofore
incurred a bonded debt in the principal amount of $2,248,000.00 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, EXCEPTING THEREFROM IMPROVEMENT DIST-
RICT "A", and
WHEREAS, Improvement District No. 6 has heretofore incurred
a bonded debt in the principal amount of $1,200,000.00 for the benefit
of the whole of Improvement District No. 6, but only Improvement
District No. 6, 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
County Water District 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, EXCEPTING
THEREFROM IMPROVEMENT DISTRICT "A", to provide for the payment of
'interest and principal on the District's bonded debt and claims against
and expenses incurred by the District.
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Resolution No. 399
NOW, THEREFORE, the Board of Directors of the San Marcos
County Water District states, finds, determines, and orders that:
Section I:
1.1 That in the judgement of the Board of Directors of
the San Marcos County Water District the revenues of said District for
the Fiscal Year 1975-1976 are likely to be inadequate to pay the in-
terest and principal on its bonded debt, the expenses of the District
and claims against the District that will be incurred and fall due
during this fiscal year.
1.2 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, excepting therefrom Improve-
ment District "A", as it becomes due is $111,690.00.
1.3 That the whole San Marcos County Water District was
benefitted by incurring said bonded debt, EXCEPTING THEREFROM IMPROVE-
MENT DISTRICT "A".
1.4 That it is estimated that the minimum amount of money
required for the San Marcos County Water District for all other expenses
of, and claims against the said District is $176,000.00 providing, how-
ever, the resultant tax rate shall not exceed the statutory limits
of the Tax Limitation Act.
SECTION II:
2.1 That in the judgement of the Board of Directors of
the San Marcos County Water District the revenues of said Improvement
District No. 6 for the Fiscal Year 1975-1976 are likely to be inadequate
to pay the interest and principal on its bonded debt, the expenses of
Improvement District No. 6 and claims against Improvement District No.
6 that will be incurred and fall due during this fiscal year.
2.2 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. 6 as it becomes due is $81,535.00.
2.3 That the whole Improvement District No. 6 was bene-
fitted by incurring said bonded debt.
2.4 That it is estimated that the minimum amount of money
required for Improvement District No. 6 for all other expenses of,
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Resolution No. 399
and claims against the said District is $27,395.00 providing, however,
the resultant tax rate shall not exceed the statutory limits of the
Tax Limitation Act.
Section III:
3.1 That it is estimated that the minimum amount of money
required for Improvement District "A", for all other expenses of, and
claims against the said District is nil.
3.2 That it is estimated that the minimum amount of money
required for Improvement District No. 1 for all other expenses of,
and claims against the said District is $44,580.00 providing, however,
the resultant tax rate shall not exceed the statutory limits of the
Tax Limitation Act.
3.3 That it is estimated that the minimum amount of money
required for Improvement District 2, for all other expenses of, and
claims against the said District is $44,580.00 providing, however,
the resultant tax rate shall not exceed the statutory limits of the
Tax Limitation Act.
3.4 That it is estimated that the minimum amount of money
required for Improvement District 5, for all other expenses of, and
claims against the said District is $66,280.00 providing, however,
the resultant tax rate shall not exceed the statutory limits of the
Tax Limitation Act.
Section IV:
4.1 That no taxes have been assessed on delinquent water
bills.
Section V:
That the statement required by Section 31701 of the Water
Code of the State of California be furnished to the Board of Super-
Visors and the Auditor of the County of San Diego.
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Resolution No. 399
ADOPTED this 25th day of July, 1975, by the following roll
call vote:
AYES: Directors: Dutton, Vanderbeck, Dow, Mahr, Blanchard
NOES: Directors: None
ABSTAIN: Directors: None
ABSENT: Directors: None
ATTEST:
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