HomeMy WebLinkAbout93-083- 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 252I0.9c 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 252I0.9c further :provides that said revolving fund shall be reimbursed
from monies made available from a benefiting service area and that na sums shall be disbursed from the
revaluing 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 feuds far 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 nerd to provide
monies to County Service Area No. 76 -Quail Run Subdivision {streetlighting and storm drainage maintenance)
an established County Service Area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors that:
1. $9,OOD.00 is to be disbursed from the Revolving Fund to County Service Area Na. 76.
2. The sum disbursed to County Service Area No. 76 shall be reimbursed to the Revolving Fund
according to authorized statutes.
3. County Service Area No. 76 shall also reimburse the Revolving Fund for interest at a rate per
annum equal to that earned by the County on sitxtilar types of investments, as determined by the County
Treasurer.
PASSED AND ADOPTED BY THE Butte County Board of Supervisors this 22nd day of June,
1993 by the following vote:
AYFS: Supervisors Meyer, Dolan, McLaughlin, Thomas and Chair Houx
NOES: None
ABSENT: None
NOT VOTING: None
MARY E HOUX, Chair
Butte County Board of Supervisors
ATTEST:
JOHN S. BLACKLOCK, Chief Administrative Officer
and Clerk of the Bo of Supervisors
By:
C1erk/Deputy