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File #: 24-535    Name: Resource Conservation District Dry Period Loan
Type: General Agenda Item Status: General Government - Consent
File created: 7/29/2024 In control: Board of Supervisors
On agenda: 8/13/2024 Final action: 8/13/2024
Title: Adopt a Resolution: a. Approving a request from the Resource Conservation District of Monterey County ("District") for a dry period loan ("Dry Period Loan") of $800,000 for the Fiscal Year ending June 30, 2025, for meeting the District's obligations incurred for maintenance purposes; and b. Approving and authorizing execution by the County Auditor-Controller of a Temporary Transfer of Funds Agreement with the District, setting forth the terms and conditions of repayment of the dry period loan in the amount of $800,000 for the Fiscal Year ending June 30, 2025; and c. Authorizing the County Auditor-Controller and County Treasurer-Tax Collector to implement the temporary transfer of funds to the District in the amount of $800,000 for the Fiscal Year ending June 30, 2025.
Attachments: 1. Board Report, 2. Request and Certification for Temporary Transfer of Funds, 3. District Resolution, 4. Agreement for Temporary Transfer of Funds, 5. Board of Supervisors Resolution, 6. Completed Board Order Item No. 67, 7. Completed Resolution Item No. 67
Title
Adopt a Resolution:
a. Approving a request from the Resource Conservation District of Monterey County ("District") for a dry period loan ("Dry Period Loan") of $800,000 for the Fiscal Year ending June 30, 2025, for meeting the District's obligations incurred for maintenance purposes; and
b. Approving and authorizing execution by the County Auditor-Controller of a Temporary Transfer of Funds Agreement with the District, setting forth the terms and conditions of repayment of the dry period loan in the amount of $800,000 for the Fiscal Year ending June 30, 2025; and
c. Authorizing the County Auditor-Controller and County Treasurer-Tax Collector to implement the temporary transfer of funds to the District in the amount of $800,000 for the Fiscal Year ending June 30, 2025.

Report
RECOMMENDATION:

It is recommended that the Board of Supervisors adopt a Resolution
a. Approving a request from the Resource Conservation District of Monterey County ("District") for a dry period loan ("Dry Period Loan") of $800,000 for the Fiscal Year ending June 30, 2025, for meeting the District's obligations incurred for maintenance purposes; and
b. Approving and authorizing execution by the County Auditor-Controller of a Temporary Transfer of Funds Agreement with the District, setting forth the terms and conditions of repayment of the dry period loan in the amount of $800,000 for the Fiscal Year ending June 30, 2025; and
c. Authorizing the County Auditor-Controller and County Treasurer-Tax Collector to implement the temporary transfer of funds to the District in the amount of $800,000 for the Fiscal Year ending June 30, 2025.

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 and/or grant reimbursement receipts. The Resource Conservation District of Monterey County ("District"), in conjunction with the County Auditor-Controller and Count...

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