HomeMy WebLinkAbout20-088WHEREAS, the Fiscal Year 2020-21 Recommended Budget approved by the Board on July 21, 2020, includes a
$1,050,000 capital project for the Hall of Records Solar Canopy project (Project); and
WHEREAS, the Project will be funded with $577,500 from the Clerk -Recorder-, $150,000 from the Elections
Division, and a $322,500 interfund loan from the Clerk -Recorder's Recording Systems Non -Operating Fund to the Elections
Division; and
WHEREAS, the loan will be repaid over a term of ten years at an interest rate equal to the average County Treasury
Pool rate for the four quarters immediately preceding the payment due date; and
WHEREAS, the results of a cost -benefit analysis performed for the Project shows the annual energy savings will
exceed the estimated annual debt service of $35,100; and
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WHEREAS, the loan isstrictly for the Project and isnot intended tosolve any ongoing budget issues inthe Elections
Division; and
WHEREAS, the borrowing complies with Government Code Section 25252,which gives the Board the authority 1n
transfer money from one fund to another asthe public interest requires, so long as the Board has authority over each of
the funds; and
Systems Fund to the Elections Division to be applied towards the Hall of Records Solar Canopy project;
SUR
AYES: Supervisors Connelly, Lucero, Ritter, Teeter, and Chair Lambert
NOES: None
F—A
Shari McCracken, Chief Administrative Officer and
Clerk of the Board Of Supervisors
By:
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4 Steve Lamb hair
Butte Cou
Board of Supervisors