HomeMy WebLinkAbout91-032,~:; Q~ ,;~ '~~ ~ BOARD OF 'SUPERVISURSmm -
~ ,va;
~* ~ ~ *' COUNTY QF BUTTE, STATE OF CALfFORNIA
` a
i ~ ~ a
• Resolution No. 91-32
RESOLIT~ION APPROPRIATING MONIES ZED
ODIINIY SQtVICE AREA NO. 126
~~2FA.5, the Butte County Board of Supervisors, pursuant to Resolution
No. 75-82, established a County Service Area Loan Revolving Fund; and
WHF'RFAS, Goverrunent 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
WEIE1tEAS, said Section 252'_0.9c 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, est?hi;sl~rt 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
W~'AS, the Butte County Board of Supervisors has determined that there
is a need to provide monies to County Service Area No. 126, Cn7est Chico Estates
Subdivision (streetiighting and storm drainage maintenance), a newly established
County Service Area.
NOW, TEIERRE~DRE, BE TT RESOLVED by the Butte County Board of Supervisors
that:
1. $b00.00 is to be disbursed from the Revolving Fund to County
Service Area No. 12b.
2. 'The sum disbursed to County Service Area No. 126 shall be reimbursed
to the Revolving Fund according to authorized statutes.
3. County Service Area No. 126 shall also reimburse the Revolving
Fund for interest at a rate per annum equal to gnat earned by the County on
similar types of investments, as determined by the County Treasurer.
PASSID AND ADOPTED BY ~ Butte County Board of Supervisors this
19 day of March , 1991, by the following vote:
AYES: Supervisors McInturf, Campbell, McLaughlin, Fulton and Chair Dolan
NOFS: None
ABSII~: None
NOT VOTING: None
aa~~ , ~Qii
But e County Board of Supervisors
ATI~'ST: ~..~
William H. Randolph, Chief Administrative Officer
and Clerk of the Board f Supervisors
By:
Clerk eputy