HomeMy WebLinkAbout93-084WHEREAS, the Butte County Board of Supervisors, pursuant to Resolution No. 75-$2, 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 252I0.9c 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
revaluing fund until the Board of Supervisors leas, 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 annuna• 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. 99 - Sacramento Avenue Estates (streetlighting and storm drainage
maintenance) an established County Service Area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors that:
I. S 500.00 is to be disbursed from the Revolving Fund to County Service Area No. 99.
2. The sum disbursed to County Service Area No. 99 shall be reimbursed to the Revolving Fund
according to authorized statutes.
3. County Service Area No. 99 shall also reimburse the Revolving Fund for interest at a rate per
annum equal to that eanxed by the County on similar 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:
.~XFS: Supervisors Meyer, Dolan, McLaughlin, '~ktomas and Chair Houx
NOES: None
ABSENT: Norte
NOT VOTING: None
MARY E HOUX, Chair
Butte County Board of Supervisors
ATTEST:
JOHN S. BLACKLOCK, Chief Administrative Of#icer
and Clerk of the Bo of Supervisors
Clerk/Depttty