HomeMy WebLinkAbout11-084RESOLUTION APPROPRIATING MONIES TO
COUNTY SERVICE AREA $2 -STIRLING CITY SEWER, FROM THE COUNTY
SERVICE AREA REVOLVING LOAN FUND
WHEREAS, the Butte County Board of Supervisors, pursuant to Resolution No. 75-82,
established a County Service ,Area Revolving Loan Fund; and
WHEREAS, Government Code Section 25210.9c provides that a County may
appropriate any of its available mozues to such fund in an amount not to exceed $1,000,000; and
WHEREAS, said Section 252109c further provides that said revolving fund shall be
reimbursed from monies made available from a benefiting service area and that no sums shall be
disbursed from the revolving fund until the Board of Supervisors has, by resolution, established a
method by the term (not exceeding ten years) within which the county service area is to
reimburse the revolving fund, and specified that the service area also shall reimburse the funds
for interest at the current rate per annum received on similar types of investrents, as determined
by the County Treasurer; and
WHEREAS, the Butte County Board of Supervisors has determined that there is a need
to provide monies to:
County Service Area 82 -Stirling City Sewer for the sewer maintenance costs associated
with this County Service Area in fiscal years 2009 / 2010 and 2010 1 201 1.
NOW, THEREFORE, SE IT RESOLVED by the Butte County Board of Supervisors
that:
I . County Service Area 82 Stirling City Sewer Maintenance:
a. $15,000.00 is to be disbursed from the CSA Revaluing Loan Fund to County
Service Area 82.
b. The sum disbursed to County Service Area 82 shall be reimbursed to the
Revolving Loan Fund, within 10 years, according to authorized statutes.
c. County Service Area 82 shall also reimburse the Revolving Loan Fund for interest
at a rate per annum equal to that earned by the County on similar types of
investments, as determined by the County Treasurer.
PASSED AND ADOPTED by the Butte County Board of Supervisors, on this Sth day of
August 2011, by the following vote:
AYES: Supervisors Connelly, Wahl, Kirk, Yamaguchi and Ghair ~.ambert
NOES: None
ABSENT: lone
NOT VOTING: None
STEVE LAM ,Chair
Butte County oard of Supervisors
ATTEST:
PA
anc
By