File #: 09-929    Name:
Type: Minutes Status: Passed
File created: 7/21/2009 In control: Board of Supervisors
On agenda: 7/21/2009 Final action: 7/21/2009
Title: Approve a request from the North County Fire Protection District for dry period loan of $3,850,000 for the Fiscal Approve a request from the North County Fire Protection District for dry period loan of $3,850,000 for the Fiscal
Attachments: 1. Completed Board Order, 2. Signed Board Report, 3. Supporting Documents

 

 

 

 

 

 

COMPLETED BOARD ORDER�"*��21

Before the Board of Supervisors in and for the

County of Monterey, State of California

Budget No: 09/10-011

Approve a request from the North County Fire

Protection District for dry period loan of $3,850,000

for the Fiscal Year ending, June 30, 2010.

Upon motion of Supervisor Parker, seconded by Supervisor Salinas, and carried by those

members present, the Board hereby:

Approved a request from the North County Fire Protection District for dry period loan of

$3,850,000 for the Fiscal Year ending, June 30, 2010.

PASSED AND ADOPTED this 21St day of July, 2009, by the following vote, to wit:

AYES: Supervisors Armenta, Salinas, Calcagno, Parker

NOES: None

ABSENT: Supervisor Potter

I, Gail T. Borkowski, Clerk of the Board of Supervisors of the County of Monterey, State of California, hereby

certify that the foregoing is a true copy of an original order of said Board of Supervisors duly made and entered in

the minutes thereof of Minute Book 75 for the meeting on July 21, 2009.

Dated: July 22, 2009 Gail T. Borkowski, Clerk of the Board of Supervisors

County of Monterey, State of California

By L 1~

Deputy

 

 

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SIGNED BOARD REPORTX��"*��MONTEREY COUNTY BOARD OF SUPERVISORS

MEETING: July 21, 2009  CONSENT AGENDA NO.: 21

SUBJECT: Approve a request from the North County Fire Protection District for dry period

loan of $3,850,000.00 for the Fiscal Year ended June 30, 2010

DEPARTMENT:

RECOMMENDATION:

It is recommended that the Board of Supervisors approve the attached dry period loan request

from the North County Fire Protection District in the amount of $3,850,000.00 for the Fiscal

Year ended June 30, 2010.

SUMMARY:

Dry Period Loan requests are submitted by qualified special districts to meet current operating

expenses and cash flow needs during the periods of time between property tax payment receipts.

DISCUSSION:

The North County Fire Protection District has requested a temporary transfer of funds pursuant

to the California Constitution, Article 16, Section 6. The attached request will enable the North

County Fire Protection District to meet current operating expenses pending receipt of property

tax payments. The funds advanced may only be used to meet maintenance and operational

expenses. No part of this loan may be invested. The amount advanced will be repaid with

interest at a rate equivalent to the average rate of return currently earned on deposits in the

County Treasury.

FINANCING:

The County Treasurer has certified that sufficient funds are available in the County Treasury to

finance the requested advance. The Auditor-Controller has certified that anticipated revenue in

Fiscal Year 2009-10 will be sufficient to repay the temporary loan. There is no impact to the

County's General Fund.

Prepared by:

Approv

Auditor-Controller Analyst Assistant Audito Controller

Date: Date:

Attachments: Special District Resolution

Request and Certification for Temporary Transfer of Funds

Board Order

cc: Lou Solton, Treasurer-Tax Collector

Rosie Pando, Assistant CAO

 

 

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SUPPORTING DOCUMENTS��"*��7

No

TH COUNTY FIRE PROTECTION

ISTRIC1

of Monterey County

June 16, 2009

Mr. Michael J. Miller, Auditor-Controller

AUDITOR-CONTROLLERS OFFICE

168 West Alisal St.,3rd Floor

Salinas, CA 93901

831) 755-5040

RE: 2009/10 Dry Period Loan

Dear Mr. Miller:

The District is submitting for the 2009/10 fiscal year, Resolution 08-6-1 requesting a dry

period loan for the upcoming fiscal year. Enclosed is the original plus three 3) copies.

If this item can be on the Board of Supervisor's agenda, for Board approval, within four

weeks, that time frame would be sufficient.

If you have any questions, please feel free to give me a call at 831) 633-2578.

Serving

Castroville

Elkhorn

Las Lomas

Moss Landing

Oak Hills

Pajaro

Prunedale

Royal Oaks

11200 Speegle Street, Castroville, CA 95012-2546  831) 633-2578 or 722-7833 Fax 831) 633-2572

 

 

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SUPPORTING DOCUMENTS��"*��NORTH COUNTY FIRE PROTECTION DISTRICT

Resolution No.: 09-6-1

Dry Period Loan For Fiscal Year 2009/10

WHEREAS, the Board of Directors of the North County Fire Protection District finds that,

until its tax revenue is received, it will not have sufficient funds to pay its obligations incurred

for maintenance purposes in the current fiscal year, and whereas its funds are in the custody of

the treasurer of the County of Monterey and are paid out solely through his office;

NOW THEREFORE BE IT RESOLVED THAT, pursuant to Article 13, Section 25 of

the California Constitution, the treasurer of the County of Monterey to make a temporary transfer

to said district, from the funds in his custody, in the sum of $3,850,000 which is necessary to

provide funds for meeting obligations incurred for the following maintenance purposes by said

district, to-wit;

BE IT FURTHER RESOLVED THAT, Secretary Tansey is authorized and directed to

make and sign a request for said transfer and to send a certified copy of the resolution to the

county treasurer.

Upon motion of Tansey seconded by Champion  the foregoing

resolution is adopted this 16th day of June 2009, by the following vote:

AYES: Chapin, Tansey, Champion, and Simon

NOES: 0-

ABSENT: Balesteri

ABSTAIN: 0-

SECRETARY'S CERTIFICATE

I HEREBY CERTIFY that I am secretary and custodian of the records and files of the above-

named district that the foregoing and annexed resolution is a full, true and correct copy of a

resolution duly passed by the governing board of said district at a regular meeting thereof duly

held on June 16, 2009, and that said Resolution has not been modified, rescinded or superseded,

and is still in full force and effect.

WITNESS my hand this 16th day of June, 2009.

 

 

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SUPPORTING DOCUMENTS��"*��REQUEST AND CERTIFICATION FOR TEMPORARY TRANSFER OF FUNDS

As allowed by California Constitution, Article 16, Section 6)

To the Board of Supervisors

County of Monterey

Salinas, California

The governing board of the NORTH COUNTY FIRE PROTECTION DISTRICT

hereby requests a temporary transfer of funds to the general fund of the aforementioned

agency in the amount of $3,850,000 to be used for maintenance and

operation purposes. No part of this loan will be invested, if granted. It is understood and

agreed that this loan will bear interest at a rate equivalent to the average rate currently

earned on deposits in the County Treasurer.

FISCAL YEAR ENDED JUNE 30, 2010

Budgeted Maintenance Operations Expenditures:

a. Salaries and Benefits $

b. Services and Supplies

Total Budgeted Expenditures

3,850,000

Agency Representative

CERTIFICATION BY COUNTY AUDITOR-CONTROLLER

Anticipated Revenue

a. Taxes

b. Money and Property

c. Aid from Other Agencies

d. Charges for Current Services

e. Other Revenue

f. Total Anticipated Revenue

g. Less Revenue received to date

h. Total revenue not received

3,272,500

577,500

Z lovl, 7 2-

42

Amount available for Transfer 85) of line h) $ o  / 38s. L8

T

MICHAEL J. MILLER, Auditor-Controller

ByC

CERTIFICATION BY COUNTY TREASURER

Sufficient funds are available in the County Treasury to effect this transfer.

LOUIS G. SOLTON, Treasurer

By:

$ Y~ 7 ss{ 3  2-

5 3' c~s3~

 

 

 

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