HomeMy WebLinkAbout92-087WHEREAS, the Butte County Board of Supervisors, pursuant to
Resolution No. 75-82, established a County Service Area Loan Revolving Fund; and
WHEREAS, Government Cade 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
specif ed 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 {streetlighting maintenance} an established County Service Area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board
of Supervisors that:
1. $475.00 is to be disbursed from the Revolving Fund to County
Service Area No. 103.
2. The sum disbursed to County Service Area No. 103 shall be
reimbursed to the Revolving Fund according to authorized statutes.
3. County Service Area No. 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 Caunty Board of
Supervisors this 7th day of July, 1992 by the following vote:
AYES: Supervisors McInturf, Houx, McLaughlin, Fulton and Chair Dolan
NOES: None
ASSENT: None
NOT VOTING: None ~~
DOLA`N, Chair
Caunty Board of Supervisors
ATTEST:
JOHN S. BLACKLOCK, Chief Administrative Officer
and Clerk of the Board of Supervisors
By: cu.
Clerk/Deputy