HomeMy WebLinkAbout1958-08-20; Municipal Water District; Resolution 841
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RESOLUTION NO. ,k-)."'
RESOLUTION OF BOARD OF DIRECTORS OF CARLSBAD MUNICIPAL WATER DISTRICT DETERMINING THAT THE
PURPOSE FOR WHICH THE BOND INDEBTEDNESS OF
IMPROVEMENT DISTRICT NO. 1, CARLSBAD MUNICIPAL
WATER DISTRICT -WAS CREATED HAS BEEN ACCOMPLISHED
AND AUTHORIZING AND DIRECTING THE TRANSFER OF
ANY MONEYS REMAINING IN THE SPECIAL IMPROVEMENT
FUND TO BE TFLANSFERRJED TO THE FUND OF IMPROVE-
MENT DISTRICT NO. 1 TO BE USED FOR THE PAYNlENT OF
PRINCIPAL OF AND INTEREST ON THE BONDS OF IM- PROVENOENT DISTRICT NO. 1.
WHEREAS, at a special bond election, duly called and regularly held
in Improvement District No. 1, Carlsbad Municipal 'Water District, hereinafter
referred to as "Improvement District" on October 5, 1956, the votes of more
than two-thirds of all the voters voting at said election were cast in favor of
the adoption of a bond proposition for the improvement district ;and
.WHEREAS, the said bond proposition was as follows: to wit:
PROPOSITION: Shall the Carlsbad Municipal Water District incur a bonded indebtedness for Improve -
ment District No. 1 thereof in the principal sum of $1, 350, 000 for the purpose of the acquisition and construction of a water transmission pipeline with appurtenances and appurtenant works from the faci- lities of the San Diego County Water Authority
located in the San Marcos, Escondido Area (at a
point to be approved by tb San Diego County Water
Authority) to a point within the Carlsbad Municipal
Water District east of Highland Avenue, including
works, machinery and other property (including lands and easements) useful and necessary to store, convey, supply and otherwise make use of water for the lands and inhabitants within the exterior boundaries of sad Improvement District No. 1, and including expenses of all proceedings for the authorization, issuance and sale of the bonds?
and;
WHEREAS, thereafter the Board of Directors of Carlsbad Municipal 'Wate
District, in accordance with the authority granted by said bond election, sold
bonds of the Carlsbad Municipal Water District for Improvement District No. 1.
and
WHEREAS, thereafter the Board of Directors of Carlsbad Municipal Wate
District entered into contracts for the acquisition and construction of the water
transmission pipelines and facilities, authorized by the said bond proposition,
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and paid for said contracts with the proceeds from the sale of the bonds herein-
before referred to; and
WREREAS, in the opinion of the Board of Directors of Carlsbad Munici -
pal Water District the purpose of the bond indebtedness, aa identified in the
bond proposition above set forth, has been accomplished; and
WHEREAS, there are moneys still remaining in the special improvement
district fund into which the proceeds from the sale of the said bonds was
placed and from which funds were expended frJa the purpose of which the indebt-
edness was created;
District No. 1, Carlsbad Municipal Water District 'I; and
said fund known as "Construction Fund, Improvement
WHERZAS, in accordance with Section 17 of Municipal Water District
Act of 1911, as mended, the Board of Directors of Carlsbad Municipal Water
District are desirous of transferring said moneys from said special improve-
ment district fund to the fund of the improvement district to be used for the
payment of principal of and interest on the bonds of the improvement district.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF CARLSBAD
MUNICIPAL -WATER DISTRICT DOES HEREBY DETERMIWE AND RESOLVE
AS FOLLOWS:
1. That the purpose fir w&h the bonded indebtedness of Improvement
District No. 1 of Carlsbad Municipal 'Water District was created has been
. ccomplished.
2. That all moneys remaining in the special improvement fund of Im-
wovement District No. 1, Carlsbad Municipal Water District established for thl
3urposes of receiving the proceeds arising from the sale of tk bonds of
[rnprovement LYstrict No. 1 and expended only for the purpose for which the
bonded indebtedness was created, and known as "Construction Fund, Improve -
ment District No. 1, Carlsbad Municipal Water District ", shall be transferred
to the fund of the Carlsbad Municipal 'Water District to be used for the payment
of principal of and interest on the bonds of Carlsbad Municipal Water District
for Improvement District No. 1.
3. That the Treasurer of the Carlsbad Municipal 'Water District is hereb
authorized and directed to take any necessary steps or do any necessary acts
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to effectuate this transfer of funds.
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ADOPTED, SIGNED AM) APPROVED this Ah day of August, 1958.
Directors of Carlsbad m'nicipal Water District
T-7 ATTEST :
secretary of the Board of Dir ectors of Carlsbad Municipal Water District.
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