HomeMy WebLinkAbout83-154WHEREAS, the Board of Supervisors, pursuant ~o Resolution Plo. 75-82,
established a County Service Area Loan Revolving Fund; and
~JHEREAS, Government Code Section 25210.9c provides that a County may
ap~ro~riate any of its availabie monies to such fund in an amount not to exceed
~500,000; and
WHEREAS, said Section 25210.9c further provides that said revolving fund
shall be reimbursed from monies made available from a benefiting service area and
that no sums sha11 be disbursed from the revolving fund until the Board of 5upervisors
has, by resolution, established a method by and term (not exceeding five years) v~ithin
Ufhich the County Service Area is to reimburse the revolvina fund, and specified that
the service area shall also reimburse the funds for interest at the current rate per
annum received on similar types of investments, as determined by the County Treasurer;
and
WHEP,El~S, the Butte County 6oard of Supervisars has determined that there is
a need to maintain a balance in the revolving fund; and
6~1'rIEREAS, the Batte County Board of Supervisors has de~ermined there is a
need to provide monias to Eo€anty Service Area '~24, Zone 2, Chico €1ud Creek ~rainage
for material removal and completion of a 7evee system.
ND~f, THEREFORE, BE I7 RESOLU~p by the Butte County Board of Supervisors
that:
1. There is hereby aopropriated, from the County General Fund Appropriation
for Contingencies to the County Service Area Revolving Fund, the sum af $100,000.00.
2. $99,981.00 is to be disbursed from the Revo]v~ng Fund to County Service
Area #24, Zone 2.
3. The sum disbursed to County Serv~ce Area ;~24, Zone 2 shall be reimbUrsed
to the Revolving Fund according to authorfzed statutes.
4. Caunty Service Area ~24, Zone 2 shall also reimburse the Revolving Fund
for interest at a rate per annum equa~ to that earned by the County on simiiar types
of investments, as determined by the County Treasurer.
RESOL~ITION APPROPRIATIfdG t10PJIES T~
COUNTY SEP,VICE AREA LOAN FUND FOR
COUPJTY SERUICE AREA ,~24, ZONE 2, CHICO P1UD CREEK DRAINAGE
-2-
5. As the money is reimbursed to the Revolving Fund by County Service
Area #24, Zone 2 or from any other county service area to which a loan has been made,
the County Auditor is direc~ed to transfer any such monies w~~ch cause the cash
balance of the Revolving Fund to exceed $120,000.00 from the Revolving Fund to the
County General Fund.
PASSED A~D ADOPTED by the Board of Supervisors of the County of 8utte
this 20th day of September, 1983, by the following vote:
AYES: ~upexvisors Moseley, Saraceni, Wheeler and Chair polan
NOES: None
ABSENT: Supervisor Fulton
NOT VOTING: None
HN, (;hair oT the
unty Board of Supervisors
ATTEST:
MARTIN J. IVICHOLS, Clerk of
the Board:bf S ervis r
F