COMPLETED BOARD ORDER�"�856
Before the Board of Supervisors in and for the
County of Monterey, State of California
Budget No: 10/11 009
Approve a request from the North County Fire
Protection District for dry period loan of $3,850,000
for the Fiscal Year ended June 30, 2011.
Upon motion of Supervisor Potter, seconded by Supervisor Armenta, 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 ended June 30, 2011.
PASSED AND ADOPTED this 27th day of July, 2010, by the following vote, to wit:
AYES: Supervisors Armenta, Calcagno, Salinas, Parker, Potter
NOES: None
ABSENT: None
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 27, 2010.
Dated: July 29, 2010 Gail T. Borkowski, Clerk of the Board of Supervisors
County of Monterey, State of California
By
Deputy
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SIGNED BOARD REPORTX��"�:MONTEREY COUNTY BOARD OF SUPERVISORS
MEETING: July 27, 2010 CONSENT AGENDA NO.:
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, 2011
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, 2011.
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 2010-11 will be sufficient to repay the temporary loan. There is no impact to the
County's General Fund.
Prepared by:
Jill Baucom Alfred R. Itriedrich
Auditor-Controller Analyst Assistant Auditor-Controller
Date: U Z-c-% / O
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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ATTACHMENTS�X��"�<NORTH COUNTY FIRE PROTECTION DISTRICT
Resolution No.: 10-6-2
Dry Period Loan For Fiscal Year 2010/11
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 $3,850,000.00 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 Director Simon, seconded by Secretary Tansey, the foregoing resolution is
adopted this 15th day of June 2010, by the following vote:
AYES: SIMON-TANSEY-CHAPIN-BALESTERI-CHAMPION
NOES: 0-
ABSENT: 0-
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 15, 2010, and that said Resolution has not been modified, rescinded or superseded,
and is still in full force and effect.
WITNESS my hand this 15th day of June, 2010.
ve Lansta
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ATTACHMENTS�X��"�<REQUEST, CERTIFICATION AND ORDER FOR TEMPORARY TRANSFER OF FUNDS
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 $3,850,000.00 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, 2011
Budgeted Maintenance Operations Expenditures:
a. Salaries and Benefits $3,272,500.00
b. Services and Supplies 77 500.00
Total Budgeted Expenditures 00
Do not write below this line.
CERTIFICATION
II. Anticipated Revenue
a. Taxes
b. Money and Property t 3, F_C/~_
c. Aid from Other Agencies
d. Charges for Current Services
e. Other Revenue 2, 132, /2- I
f. Total Anticipated Revenue fir(,&O?
4
g. Less Revenue received to date
h. Total revenue not received
i. Amount available for Transfer 85% of line h) $ S 79Y, //~
MICHAEL J. MILLER, Auditor-Controller
By: Deputy
Sufficient funds are available in the County Treasury to eff c ransf
Deputy Auditor-Controller
ORDER
Transfer ordered by the Board of Supervisors this day of
20
Chairman of the Board of Supervisors
R:\Board Meetings\2010\June NB Dry Period LoanAttachment.DOC Page 1 of 1 Last printed
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