Resolution Number OCWD NO. 4 82-6-15-1RESOLUTION NO. 82-6-15-1
A RESOLUTION OF THE BOARD OF DIRECTORS
OF ORANGE COUNTY WATERWORKS DISTRICT NO.
4 AUTHORIZING THE GENERAL MANAGER TO SIGN
A LETTER OF GUARANTEE
WHEREAS, Orange County Waterworks District No. 4 is
a member agency of the San Juan Basin Authority, a joint powers
agency; and,
WHEREAS, the Authority has been awarded a grant from
the State of California in the amount of 51,058,400.00 for the
purpose of intercepting brine water in Oso Creek and discharging
it into the ocean; and
WHEREAS, the conditions of the grant provide for
reimbursement of funds expended by the Authority; and,
WHEREAS, the Board of Directors of the Authority
authorized a loan to be made by the Bank of America to the
Authority in the amount of $750,000.00; and
WHEREAS, a Letter of Guarantee in the amount of
$250,000.00 is required by Bank of America from each member
agency of the Authority to guarantee the loan to the Authority.
NOW, THEREFORE, BE IT RESOLVED that the Board of
Directors of Orange County Waterworks District No. 4 does hereby
authorize the District's General Manager to sign a Letter of
Guarantee to the Bank of America in the amount of $250,000.00.
PASSED APPROVED AND ADOPTED this 15TH day of June,
1982, by the following vote, to wit:
AYES: DIRECTORS: HAUSOORFER, SCHWARTZE, BUCHHEIM
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: FRIESS, BLAND
ATTEST:
r -
C CE LERK OF
THE BOARD OF DIRECTORS