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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