HomeMy WebLinkAbout92-017WHEREAS, the Butte County Board of Supervisors, pursuant to Resolution
No. 75-82, established a County Service Area Loan Revolving Fund; and
WHF.RF.AS, 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
WHF.RFAS, the Butte County Board of Supervisors has determined that there
is a need to provide monies to County Service Area No. 111 - Haiku Estates
Subdivision (streetlighting, storm drainage and sewer line maintenance), a newly
established County Service Area.
NOW, THF,R7?F'ORE, BE IT RESOLVED by the Butte County Board of Supervisors
that:
I. $4,600.00 is to be disbursed from the Revolving Fund to County
Service Area No. 111.
2. The sum disbursed to County Service Area No. 111 shall be reimbursed
to the Revolving Fund according to authorized statutes.
RESOLE]TION APPROPRIATING MONIES TO
COiJIVTX SERVICE AREA N0. 111
3. County Service Area No. 111 shall also reimburse the Revolving Fund
£or interest at a rate per annum equal to that earned by the County on similar
types o£ investments, as determined by the County Treasurer.
PASSED AND ADOPTED by the Butte County Board of Supervisors this
25th day of February 1992, by the Following vote.
AYES: Supervisors McInturf, Houx, McLaughlin, Fulton and Chair Dolan
NOES: None
ABSENT: None
NOT VOTING: None
ne olan, t;nair -~
tte ounty Board of Supervisors
ATTEST:
Starlyn Brown, Acting Chief Administrative Officer
and Clerk o£ the o rd o£ Supervisors
By:
Clerk/Deputy