HomeMy WebLinkAbout91-033 _~
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a'[* Resolution 2Vo. 91-33
RESOLUTION APPROPRIATING PiONIES TO
COUNTY' SERVICE AREA N0. 127
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. 127, Westwood Lane
Subdivision (streetlighting), a newly established County Service Area.
NOW, R~RE~RE, BE IT RESOLVED by the Butte County Board of Supervisors
that:
1. $500.00 is to be disbursed from the Revolving Fund to County
Service Area No. 127.
2. The sum disbursed to County Service Area No. 127 shall be reimbursed
to the Revolving Fund according to authorized statutes.
3. County Service Area No. 127 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.
PASSID AND ADOPTED BY THE 3utte County Poard of Supervisors this
19th day of Marcfi 1991, by the following vote:
AYES: Supervisors McTnturf, Campbell, McLaughlin, Fulton and Chair Dolan
NOES: None
~~~ None
NOT VOTING: None
e Dolan,`~hair ~
Butt County Board of Supervisors
ATTEST:
William H. Randolph, Chief Administrative Officer
and Clerk of the Boa d of Supervisors
By:
Jerk/Deputy