Resolution Number CVWD 95-7-18-1RESOLUTION NO. 95-7-18-1
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE CAPISTRANO VALLEY WATER DISTRICT
ADOPTING A BUDGET FOR THE REDEMPTION
OF GENERAL OBLIGATION BONDS
ZONE 2, SERIES "C" FOR FISCAL YEAR 1995-96
WHEREAS, the Capistrano Valley Water District has heretofore issued General
Obligation Bonds, Zone 2, Series "C", in the sum of $349,000.00; and,
WHEREAS, the amount of money required to be raised during the fiscal year
for bond interest and. redemption for the Zone 2, Series "C", Bond Issue is the sum
of $ 28,198.00 and,
WHEREAS, the tax rate necessary to raise the aforesaid sum of money will be
calculated by the Orange County Assessor in accordance with Sections 93(a) and
97.65 of the Revenue and Taxation Code.
NOW, THEREFORE, BE IT RESOLVED, that the Budget for the redemption and
and interest of the aforesaid General Obligation Bonds, Zone 2, Series "C", for the
fiscal year 1995-96 be and is hereby established at $28,198.00.
BE IT FURTHER RESOLVED that the Orange County Assessor be and is hereby
authorized and directed to calculate the tax rate in accordance with Sections 93(a)
and 97.65 of the Revenue and Taxation Code for the redemption of the aforesaid
General Obligation Bonds, Zone 2, Series "C", for the fiscal year 1995-96 and to
enter such rate on the records of the Orange County Assessor and the Capistrano
Valley Water District.
PASSED, APPROVED AND ADOPTED this 18th day of July, 1995 by the
following vote:
AYES: Directors Campbell, Hart, Jones, Swerdlin and Chairman Nash
NOES: None
ABSENT: None
Carolyn J. Nash, Chairman
th�eBoardF
957181
A
CERTIFICATE
STATE OF CALIFORNIA }
} ss.
COUNTY OF ORANGE }
I, Georg' Ann Scott, Clerk of the Board of Directors for the Capistrano Valley
Water District, do hereby certify and declare that the attached and foregoing
Resolution was duly adopted by a unanimous vote of the Board of Directors present
and voting at a regular meeting thereof held on the 18th day of July, 1995, at the
hour of 6:30 PM.
Clerk of the Board
CAPISTRANO VALLEY WATER DISTRICT
MIN M-eilll
L
July 18, 1995
TO: Honorable Board of Directors
M
FROM: Ray A. Auerbach, General Manager
SUBJECT: Resolutions Adopting Debt Service Budgets for FY 1995-96
The long term debts of the District are the General —Obligation bonds issued for the
construction of water facilities consisting of reservoirs, pipelines, and appurtenances
throughout our system.
Each year it is necessary to adopt a budget for each of the bond issues to raise
sufficient funds for making the required principle and interest payments. The budgets
so adopted are submitted to the Orange County Auditor -Controller who sets the
appropriate tax rate. Accordingly, the attached Resolutions have been prepared.
The debt service budgets will generate sufficient revenue to make the required
principle and interest payments.
1. Approve the attached Resolutions 95-7-18-1 and 95-7-18-2 adopting
budgets for the redemption of General Obligation bonds.
2. Request additional information from staff.
By motion, approve the attached Resolutions 95-7-18-1 and 95-7-18-2 adopting
budgets for the redemption of General Obligation bonds.
Resas�ully�itte
Ray &!. uerbachh
General Manager
GEN08LG.RES