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HomeMy WebLinkAbout1964-07-07; Municipal Water District; Resolution 185RESOLUTION NO. 185 RESOLUTION OF BOARD OF DIRECTORS OF CARLSBAD MUNICIPAL WATER DISTRICT DETERMINING THAT THE PURPOSES FOR WHICH THE BOND INDEBTEDNESS OF IMPROVEMENT DISTRICTS NO. 2 AND 3 OF THE CARLSBAD MUNICIPAL -WATER DISTRICT WERE CREATED HAVE BEEN ACCOMPLISHED AND AUTHORIZING AND DIRECTING THE TRANSFER OF MONEYS FROM THE SPECIAL IMPROVEMENT FUNDS OF SAID DISTRICTS TO THE FUNDS OF IMPROVEMENT DISTRICTS NO. 2 AND 3, RESPECTIVELY, TO BE USED FOR THE PAYMENT OF PRINCIPAL AND INTEREST ON THE BONDS OF SAID IMPROVEMENT DISTRICTS WHEREAS, at a special bond election duly called and regularly held in Improvement District No. 2, Carlsbad Municipal Water District, on November 19, 1957, 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 for Series 1 and 2, was as follows, to wit: PROPOSITION : Shall the Carlsbad Municipal Water District incur a bonded indebtedness for Improvement District No. 2 for the purpose of "the acquisition and construction of water transmission pipelines with appurtenances and appurtenant works from the existing facilities of the Carlsbad Municipal Water District located along the El Camino Real Road to points within the Carlsbad Municipal Water District covering generally the most Southerly 18,000 feet of the Carlsbad Municipal Water District, 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 said Improvement District No. 2 and including the expenses of all proceedings for the authorization, issuance and sale of the bonds. 11 and WHEREAS, thereafter the Board of Directors of Carlsbad Municipal Water District, in accordance with the authority granted by said bond election, sold bonds of the Carlsbad Municipal Water District for Improvement District No. 2; and WHEREAS, at a special bond election duly called and regularly held in Improvement District No. 3, Carlsbad Municipal Water District, on December 20, 1960, 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 I I , WHEREAS, the said bond proposition was as follows, to wit: - PROPOSITION: Shall the Carlsbad Municipal Water District incur a bonded indebtedness for Improvement District No. 3 for the purpose of "the acquisition and P construction of a water works system, including conduits, pipelines , reservoirs, works, machinery and other property useful and necessary to store, convey, supply and otherwise make use of water for the lands and inhabitants within the exterior boundaries of said Improvement District No. 3, and including expenses of all proceedings for the authorization, issuance and sale of the bonds. If and WHEREAS, thereafter the Board of Directors of Carlsbad Municipal Water District, in accordance with the authority granted by said bond election, sold bonds of the Carlsbad Municipal Water District for Improvement District No. 3; and WHEREAS, thereafter the Board of Directors of Carlsbad Municipal Water District entered into contracts for the acquisition and construction of the facilities authorized by said bond propositions, and paid for said contracts with the proceeds from the sale of the bonds hereinbefore referred to; and WHEREAS, in the opinion of the Board of Directors of Carlsbad Municipal Water District the purposes for which the said bond indebtedness, as identified in the bond propositions above set forth, have been accomplished; and WHEREAS, there are moneys still remaining in the special improvement district funds into which the proceeds from the sale of the said bonds were placed and from which funds were expended for the purposes for which the indebtedness was created; said fund known as "Construction Fund, Improvement District No. 2, Carlsbad Municipal Water District"; and "Construction Fund, Improvement District No. 3, Carlsbad Municipal Water District"; and WHEREAS, in accordance with Section 71971 of the Water Code, the Board of Directors of Carlsbad Municipal Water District are desirous of transferring some of the moneys from said special improvement distric t fund to the fund of the improvement districts 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 DETERMINE AND RESOLVE AS FOLLOWS: 1. That the purposes for which the bonded indebtedness of Improvement Districts No. 2 and 3 of Carlsbad Municipal Water District were created have been accomplished. 2. That $20,000.00 of the moneys remaining in the special improvement fund of Improvement District No. 3, Carlsbad Municipal Water District established for the purpose of receiving the proceeds arising from the sale of the bonds of Improvement District No. 3 and expended only for the purchases for which the bonded indebtedness was created, and known as "Construction Fund, Improvement District No. 3, 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. 3. 3. That $10,000.00 of the moneys remaining in the special improvement fund of Improvement District No. 2, Carlsbad Municipal Water District established for the purpose of receiving the proceeds arising from the sale of the bonds of Improvement District No. 2 and expended only ior the purpose for which the bonded indebtedness was created, and known as "Construction - 2- Fund, Improvement District No. 2, 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. 2. 4. That the Treasurer of the Carlsbad Municipal Water District has heretofore transferred said funds as above set forth as of the end of the fiscal year, June 30, 1964, and said transfer is hereby ratified and approved, and said Treasurer is directed to take any necessary steps or do any necessary acts if required to further effectuate this transfer of funds. c I ADOPTED, SIGNED AND APPROVED this 7th day of July, 1964. of Carlsbad Municipal Water @strict ATTEST: Pu Secretary of the Board of Directors of - I Carlsbad Municipal Water District. -3-