HomeMy WebLinkAbout95-033WHEREAS, 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 252109c 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 fiirther provides that said revolviug 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. 161- Mulberry Street Lighting (street lighting maintenance) an established County Service Area.
NOW, THEREFORE, BE IT RESOLVED by the Butte County Board of Supervisors that:
1. $1,200.00 is to be disbursed from the Revolving Fund to County Service Area No. 161.
2. The sum disbursed to County Service Area No. 161 shall be reimbursed to the Revolving F'uad
according to authorized statutes.
3. County Service Area No. 161 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 this 2Sthday of
February , 1995 by the following vote:
AYES: Supervisors Meyer, Dolan, Houx, Thomas and Chair McLaughlin
NOES: None
ABSENT: None
NOT VOTING: None C
ED MCLAUGHLIN, air
Butte County Board of Supervisors
ATTEST:
JOHN S. BLACKLOCK, Chief Administrative Officer
and Clerk of the Board of Supervisors
By:
C1erk/Deputy
-'„""~ RESOLUTION APPROPRIATING MONIES TO
COUNTY SERVICE AREA NO. 161