HomeMy WebLinkAbout75-123t ~
~2esolution No. ~5-iz3 ~ ~f
RESOLUTION TO ESTABLISH SP~CIAL PURPOSE FUND
WHEREAS, the Board of Supervisors of the County of Butte
has made appl'zcation for and has been awarded a Couimunity Develop-
ment B1ock Grant, ~n the amount of $76,000.00, by the U. S. Depart-
ment of Housa.ng and Urban Development for the purpose of acquisition
of land for development of housing for low income and elderly persons;
and
WHEREAS, it is the i.ntent of the Board of Supervisors to
acquire such land for re-sale ta private persons who enter into
agreements to construct suitiable dwelling units and lease them to
the Butte County I~ousing Au~hority under zts rent subsidy program;
and
WHEREAS, the monies derived from the re-sale o£ sueh
lands are to be utilized for the acquisition o~ additional lands
for the same purpose and under rhe same conditions as the original
grant monies; and
WHEREAS, the condi~ions of the ori.ginal grant requ.ire
that such monies be ~nain.tained in a separate fun.d account within
the Butte County treasury; and
WH~REAS, California 1ara~s require that all monies under
the con.trol of the County Board of Supervisors may be disbursed only
if an expenditure appropriation has been approved by said Board ot
Supervisors; and
WHEkZEAS, the monies from Che Commu~ity Development Block
Grant may be obtained only through a federal Let~e~' of Credit dzs-
bursi.ng sysCem;
NO'4~', THEREF~RE, BE IT RESOLVED by the ~utte County Soard
of Supervisors as fo~.lows:
1. There i.s hereby established, itz the Butte Coun~y
Treasury, a fund account entitled "HUD Community Development Block
~s~ ~ ~-3
Grant Spec~al Purpose Fund".
2. That all monies derived from the Community Develop-
ment ~1ock Grant and/or the sale of lands acquired under the grant
program sha~l be deposi~ed into said special purpose fund.
. 3. That all monies deposited into said special purpose
fund are continuously appropriated for the purpose of acquiring Iand
for use in the developmen~ of housing for low income and elderly
°persons until such time as the grant program is terminated by the
Board of Supervzsors or the Department of Housing and Urban Develop-
uient .
4. That the Butte County Auditor-Controller and/or the
Butte County Assistant .A.uditor-Controller are designated as the offical
signa~ories authorized to draw upon the federal Letter of Credit.
5. That the Butte County Auditor-Controller S~.ai1 dis-
burse monies from said fund only upon order o£ the Soard of Super-
visors or its official designee.
PASSED AND ADOPTED by the Board of Supervisors of the
County of Butte, State of California, this 12th day of August ,
1975, by the foliowing votie:
AYES: Supervisors Cameron, Richter, McKillop and Chairman Ladd
NOES: None
ABSENT: Supervisor Madigan
NO'i' VOTING : None
ATT~ST:
CLARK A. NELSON, County Clerk and
ex-officio Clerk of the Board
J S M. LA axzman t e
Board of Supervisors
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APPROVEp A5 TQ FQRM
Bu9fe County Counsel
Daniel V. B[ackstocfc ~
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