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HomeMy WebLinkAbout81-022, WfiER~AS, the Board of Supervisors, pursuant to Resolution , No. 75-82, established a County Service Area Loan Revolving Fund; and WHEREAS, Government Code §252~0.9c provides that a County may appropriate any of its available monies to such tund in an amount not to exceed $500,000.00; and ', WHEREAS, said §25210.9c further provides that said revolving fund shall be reimbursed from monies made avai~able from a benefiting ' service area and that no sums sha11 be disbursed from the revolving ~und unta.l. the Board of Supervisors nas, by resolution, established a Fnethod by and term (not exceeding five years) within which the County Service Area is to reimburse the revolving fund, and specified that the Service Area shall also reimburse the funds for interest at ' the current rate per annum received on simil.ar types of investments, as determined by the County Treasurer; and WHEREAS, Che Butte County Board of Supervisors has detex- mined tttat there is a need to provide monies for County Servi.ce Area No. 2~, to seal a sewer pond. NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervi.sors that: 1. '~here is hereby appropriated, from the County General Fund Appropriation for Contingencies to the County Service Area Revolvi.ng Fund, the sum of $5~0.00. 2. The sum of $500.00 is to be disbursed from the Revolving Fund to County Service Area No. 21 for the express purpose of sealing a sewer pond. 3. The sum disbursed to Countq Service Area No. 21 shall be reimbursed by County Service Area No. 21 to the Revol.ving Fund in one lvmp paymen~ no later than .7une 30, 1982. 4. County Service Area No. 21 shall also reimburse the Revoiving Fund for interest at a zaCe per annum equal to tYr.at RES4LUTION APPRQPRIATING MONIES TO COUNTY SERVICE ATt~A LOAN FUND FOR COUNTY SERVICE AREA N0. 21 earned by the County on similar types of investments, as determined ~ by the County Treasurer. 5. As the money is reimbursed to the Revolving Fund by County Service Area No. 2~, the County Auditor is directed to txansfer such money from the Revolv~ng Fund to the County General Fund. PASSED AND AbOPTED by the Butte County Board of Supervisors this 2~h day of _ Januar.y _, 1981, by the following vote: AYES: Supervisors Dolan, Z~mke, Saraceni, Wheeler and G7~a,irrr~a.n Moseley NOES : None ABSENT : NOne NOT VOTING:None BERTHA OSELE , ai erson o e Board of Supervisors ATTEST: CLARK A. NELSON, County Clerk/Recorder and ex-offic' k of the Board By a.