HomeMy WebLinkAbout81-179RESOLUTION APPROPRIATING MONIES TO COUNTY SERVICE
RREA LOAN FUND ~OR COUNTY SERVICE AREA N0. 74
WHEREAS, the Board of Supervisors, pursuant to Resolution No. 75-82,
establ3s~ed a County 5ervice Area Loan Revolving Fund; and
WHE~EAS, Government Code §~~210.9c provides that a County may
appropriate any of its available monies to such fund in an amount not to
exceed $500,000.00; and
WHEREAS, said ~252T0.9c further provides that said revolving fund
shall be reimbursed from monies made available from a benef9ting service area
and that no sums sha~1 be dis6ursed from the revolv9ng fund until the Board
af Supervisors has, by resolution, established a method by and term (nat
exceeding five years) within wh~ch the County Service Area is to reimburse the
revolving fund, and specified that the Serv~ce Area shall also reimburse the
revolving fund, and specified that the Service Area shal1 also reimburse the
funds for interest at the current ra~e per annum received on similar types of
investments, as determined by the County Treasurer; and
wHEREAS, the Bu~te County Board of Supervisors had determined that
there is a need to provide monies for County Service Area No. 74 to provide for
unanttcipated utility costs for street lights.
NOdJ, THEREF~RE, BE iT RESOLVED by the Butte County Board af
Supervisors that:
1. There is hereby appropriated, from the County Genera1 Fund
Appropriation ~or Contingencies to the County Service Area Revolving Fund,
the sum of $~00.00.
2, The sum of $100.00 is to be disbursed from the Revolving Fund
to County Service Rrea No. 74 to provide for u~antic7pated utility costs for
street lights.
3. The sum d~sbursed to County Service Area No, 74 shall be
reimbursed by County Service Area No. 74 to the Revolving Fund in one lump
payment no later than June 30, 1982.
4. County Service Area No. 74 shall also reimburse the Revolving
Fund for interest at a rate per annum equal to that earned by the County on
similar types of investmsnts, as determined by the County Treasurer.
5. As the money is rei~bursed to the Revolving Fund by County
Service Area No. 74, the County Auditor is directed to transfer such money
from the Revolving Fund to the County General Fund.
PASSED AND ADOPTED by the Butte County Board of Supervisors th9s
4th day of August ~ , 1987, by the following vote:
AYES: Supervisors Aolan, Saraceni, Wheeler and Chairman Moseley
NOES: None
ABSEHT: Supervisor Lemke
NOT VOTTNG: None
B RTH M SELEY, Ch rm~a of th
Sutte County Board of Supervisors
ATTEST:
CLARK A. NELSON, County Clerk
and ex-offici Clerk of the Board
By
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