HomeMy WebLinkAbout89-050,a'
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--~,~ ~ BOARD OF SUPERVISORS
' ' '¢` COUNTY OF E3LiTTE, STATE OF CALIFORNIA
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+ Resolufion No. 89-050
RESOLUTION APPROPRIATING MONIES TO
COUNTY SERVICE AREA N0. 103
WHEREAS, the Butte County 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 revolving
fund shall be reimbursed from monies made available from a benefiting service
area and that no sums shall 6e disbursed from the revolving fund until the
Board of Supervisors has, by resolution, established a method by the term
(not exceeding ten years) within which the county service area is to reimburse
the revolving fund, and specified that the service area also shall 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 provide monies to County Service Area No. 103, Morris
Subdivision, for electrical utility costs for a newly annexed area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors
that:
1. That $650.00 is to be disbursed from the Revolving Fund to County
Service Area No. 103.
2. The sum disbursed to County Service Area 103 shall be reimbursed
to the Revolving Fund according to authorized statutes.
3. County Service Area 103 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 Butte County Board of Supervisors this 25th
day of April, 1989, by the following vote:
AYES: Supervisors Dolan, McInturf, Vercruse and Vice Chairman McLaughlin
NOES: None
ABSENT: Chairman Fulton
NOT VOTING: None
~C
ED McLAUGHLIN, Vice hairman
Butte County Board of Supervisors
ATTEST:
WILLIAM H. RANDOLPH, Clerk
of the Board of Supervisors