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Resolution No. 17-102
RESOLUTION APPROPRIATING MONIES TO THE COUNTY SERVICE AREA LOAN FUND AND AUTHORIZING A LOAN
TO COUNTY SERVICE AREA 82—STIRLING CITY SEWER
WHEREAS,the Butte County Board of Supervisors established a County Service Area Revolving Loan Fund to
make loans to County Services Areas for the acquisition or improvement of real or personal property, environmental
studies, fiscal analyses, engineering services, supplies, or any other lawful expenses; and
WHEREAS, Government Code §25214.5(a) provides that the Board of Supervisors may appropriate up to
$2,000,000 from any available funds of the County to a revolving fund to be used by County Service Areas; and
WHEREAS,Government Code §25214.5(a)further provides said revolving fund shall be reimbursed within 10
years from the date of the disbursement at a rate of interest, if any, that the Board of Supervisors shall determine,
provided that the, interest rate shall not exceed the rate of interest that the County earns on its temporarily idle
funds; and
WHEREAS, Government Code §25214.5(b) provides that if the Board of Supervisors finds that the,
reimbursement of the revolving fund may result in an economic or fiscal hardship to the property owners or residents
of the County Service Area, the Board of Supervisors may, by a four-fifths vote, waive the reimbursement in whole
or in part; and
WHEREAS, the Country Service Area Loan Revolving Fund has a balance $26,833 available to loan to County
Service Areas; and
WHEREAS, County Service Area 82 —Stirling City Sewer has outstanding loans from the County Service Area
Loan Devolving Fund with a current outstanding loaned amount of$20,000; and
WHEREAS, the Butte County Board of Supervisors has determined that there is a need to provide monies to
County Service Area 82 for allowable costs pursuant to Government Code §25214.5(a).
NOW,THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors that:
1. Funds shall) be appropriated to the County Service Area Loam Revolving Fund in the amount of$60,907;
and
2. A loan in the amount of$87,740 shall be made from the County Service Area Loan Revolving Fund to
County Service Area 82; and
3. The loan amount disbursed to County Service Area 82 shall be reimbursed to the County Service Area
Revolving (Loan Fund, within 10 years pursuant to Government Code §25214.5(a)through equal annual
payments; and
4. County Service Area 82 shall also reimburse the County Service 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; and
S. The Board of Supervisors may, by a four-fifths vote, waive the reimbursement in whole or in part at
some point in the future if the Board of Supervisors finds the reimbursement of the revolving fund may
result in an economic or fiscal hardship to the property owners or residents of the County Service Area.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 27th day of June, 2017, by the following
vote:
AYES: Supervisors Wahl, Kirk, Lambert,Teeter, and Chair Connelly
NOES: None
ABSENT: None
NOT VOTING: None
Bill Connelly, Chair
Butte County Board of Supervisors
ATTEST:
Paul Hahn, Chief Administrative Officer
and Clerk of the Board of Supervisors
By:
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