RES 67055 - Laserfiche WebLink

2 (b) The Bonds shall issue for the purpose set forth in the following measure: MEASURE (A): Shall the City of Pleasanton issue revenue bonds in the (Water System principal amount of $750,000 pursuant to the Revenue Improvements- Bond Law of 1941, to provide funds for the acquisition, Revenue Bonds) construction, improvement and financing of the following enterprise, to wit: Improvements to the existing municipal water system of the City of Pleasanton, comprising works and facilities for the storage, trans- mission and distribution of water, including pumping plants, lift stations, reservoirs and water storage facilities, water mains, pipelines, pipes, meters, pumps, equipment, and other works, properties or structures necessary or convenient for improvements to the existing municipal water system for the City of Pleasanton? (c) It is hereby found and determined that the City now owns and operates a municipal water system; that said system is in need of the improvements set forth in said measure; that said improvements will constitute additions, betterments, improvements and extensions of said system and integral parts thereof; that no revenues from said system are specifically pledged to the payment of any outstanding obligations of the City, and all revenues now or hereafter derived from said system are legally available for the payment of the Bonds; that said system when improved as described in said measure will constitute a complete municipal water system for the City; that the acquisition, construction, improvement and financing of said improvements can be financed from the proceeds of sale of the Bonds; and that the proceeds of sale of the Bonds shall be applied to the payment of the e~osts of the acquisition, construction, improvement and financing of said improvements to said water system. Accordingly, it is found and determined as follows: (1) Said improvements can be completed from the funds available and to be available to the City from the proceeds of sale of the Bonds; (2) Water rates and charges have here- tofore been and can be fixed, levied and collected upon the Enterpri.se for the water, services and facilities furnished bY the Enterprise; (3) Said water rates and charges shall constitute the Revenues of the Enterprise pledged to the payment of the prin- cipal of and interest on the Bonds :and to the security of the Bonds as herein provided. S£cxlo~ 1.02. Definitions. Unless the context otherwise require, the terms defined in this Section 1.02 shall for all purposes of this Resolution and of any Supplemental Resolution and of the Bonds and of. any certificate, opinion or other document herein mentioned, have the meanings herein specified. Unless otherwise defined in this Resolution, all terms used herein shall have the meanings assigned to such terms in the Law hereinafter mentioned. Articles, Sections All references herein to "Articles," "Sections" and other subdivisions are to the corresponding Articles, Sections or subdivisions of this Resolution, and the