HomeMy WebLinkAbout94-003~,~ ~~
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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
WhIEREAS, said Section 25210.9c further provides that said revaluing 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. 120 -Oak Way Park Subdivision (storm drainage and street lighting maintenance) an established
County Service Area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors that:
1. $10,000 is to be disbursed from the Revolving Fund to County Service Area No. 120.
2. The sum disbursed to County Service Area No. 120 shall he reimbursed to the Revolving Fund
according to authorized statutes.
3. County service Area No. 120 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 County Board of Supervisors thisl lthday of
Januar_}~ 1994 by the following vote:
AYES• Supervisors Meyer,
NOES: None
ABSENT: None
NOT VOTING: None
ATTEST:
Dolan, Roux, Thomas and Chair McLaughlin
ED MC LAUGHLiN, hair
Butte County Board of Supervisors
JOHN S. BLACKLOCK, Chief Administrative Officer
and Clerk of the Baard of Supervisors
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By:
Clerk/Deputy
~'~+~"' RESOLUTION APPROPRIATING MONIES TO
COUNTY SERVICE AREA NO. 120