HomeMy WebLinkAbout90-099r - -
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`~• '~~°~ ~ ' .~C~ARD QF SUPERVISORS
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: ,,, COUN~"Y OF BUTTE,.. STATE CF CALIFORNIA
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ftesolufion I~1o. 90-99
RESOLUTION APPROPRIATING MONIES TO
COUNTY SERVICE AREA NO. 4
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 be 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. 4, Sierra Del
Oro Drainage, for unanticipated costs.
NOW, THEREFORE, BE i'i RESOLVED by the Butte County Board of Supervisors
that:
1. That $3,500.00 is to be disbursed from the Revolving Fund to County
Service Area No. 4.
2. The sum disbursed to County Service Area No. 4 sha]7 be reimbursed
to the Revolving Fund according to authorized statutes.
3. :;aunty Service Area No. 4 shall also reimburse the Revolving Fund
for interest at a rate per annur~~ equal to that earned by the County on similar
types of investments, as determined by the County Treasurer.
PASSEi~ r~idD ADOPTED 3Y THE Butte County Board of Supervisors this 2fith
day of June, i90, by the follo~ding vote:
AYES: Supervisors McInturf, Dolan, Fulton and Chairman McLaughlin
NOES: None
ABSENT: Supervisor Vercruse
NOT VOTING: None ~ n C /~
ED MC LAUGHLIN, Chai ~J[(/fh.,
Butte County Board o Supervisors
ATTEST:
WILLIAM H. RANDOLPW, Clerk
of the Board of S ervisors