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BOARD OF SUP`ERViSOI~S
CQUNTY OF BUTTE, STATE OF C,4LIFORNIA
~~~ ~i Resolution No. 88-195
RE50LUTION APPROPRIATING MONIES TO COUNTY SERVICE
AREA LOAN FUND FOR COUNTY SERVICE AREA 114
WHEREAS, the Board of Supervisors, pursuant to Resolution No. 75-82
established a County Service Area Loan Revolving Fund; and
WHEREAS, Government Code Section 25210.9c provides that a county may
appropriate any of its available monies to such fund in an amount not to
exceed $1,000,000; and
WHEREAS, said Section 25210.9c further provides that said revo]ving
fund shalt be reimbursed from monies made available from a benefiting service
area and that no sumsrshall be disbursed from the revolving fund until the
Board of Supervisors has, by resolution, established a method by and term
(not exceeding ten 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 similar
types of investments, as determined by the County Treasurer; and
WHEREAS, the Butte County Board of Supervisors has determined that
there is a need to maintain a balance in the revolving fund; and
WHEREAS, the Butte County Board of Supervisors has determined there
is a need to provide monies to County Service Area 114 for a Chico Nitrate
Study Plan.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors
that:
1. There is hereby appropriated, from the County General Fund Appropriation
for Contingencies to the County Service Area Revolving Fund, the sum of $9,000.00.
2. $9,000.00 is to be disbursed from the Revolving Fund to County Service
Area 114.
3. The sum disbursed to County Service Area 114 shall be reimbursed to
the Revolving Fund according to authorized statutes.
4. County Service Area 114 shall also reimburse the Revolving 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.
PASSED AND ADOPTED by the Board of Supervisors of the County of Butte
this 20th day of December, 1988, by the following vote:
AYES: Supervisors Dolan, Fulton, McLaughlin, Vercruse and Chairman McInturf
NOES: None
ABSENT: None
NOT DOTING: None
,...~!
HASKEL McINTUR Chairman the
Butte County Board of S rvisors
ATTEST:
MARTIN J. NICHOLS, Clerk of the
Board of Supervisors
by ~.
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