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HomeMy WebLinkAboutMinutes 1970-08-11DISTRIdT NO.2 MINUTES OF THE SPECIAL ?~.ETING August 11,1970 108)44 Ellis Avenue Fountain Valley,California A special meeting of the Board of Directors of County Sanitation District No.2 was held at the above hour and date. The Chairman called the meeting to order at 5:30 p.m.The roll was called and the Secretary reported a quorum present. Edward Just (Chairman), Robert Root,Robert A. Clark,Norman E.Culver, Robert Finnell,Wade Herrin, Hè.~.R.Sims,Don E.Smith, Henry Wedaa,Donald Winn and Alton E.Allen ( DIRECTORS ABSENT: OTHERS PRESENT: Jack Dutton Fred A.Harper,General Manager,Paul G.Brown, Assistant General Manager, William Clarke,Don Martinson, H.Harvey Hunt,Gail B.Lynch, and J.Wayne Sylvester,Secretary Approval of 1970-71 Fiscal Year Budget DIRECTORS PRESENT: Report of the Director The Director of Finance of Finance re:Budgets reviewed in detail the proposed and Financing Requirements budget for the 1970-71 fiscal year.He summarized the five-year requirements for financing facilities recommended in the reports prepared by the Districtts consulting engineers.He also discussed the funding alternatives~ -available to the District for meeting the fiscal requirements based on projections contained in the budget material. __________________— Following a lengthy discussion __________________ concerning the District?s budget and long range financing requirement;during which the Directors considered the following three alternatives for the 1970-71 fiscal year: no tax rate increase;a two-cent increase;and a three- cent increase,it was.moved,seconded and carried - by roll call vote:- That the District’s 197Q—71 fiscal year budgets maintaining the current tax rate as much as possible,be and they are hereby approved and adopted in the following-total amounts: #2 8/11/70 DISTRICT NO.2 Operating Fund Budget $1,2)40,836 1958 Bond,Interest &Sinking Fund Budget 1,037.450 Accumulated Capital -Outlay Fund Budget 10,383,887 Sub-Total $12,662,173 DISTRICT NO.2 &2A 1951 Bond,Interest &Sinking $i18,688 Fund Budget Total Miount of Said 1970-71 Budget $12,870,861 FURTKER MOVED:That said budgets are hereby received and ordered filed;and, That the Chairman of the Board of Directors is hereby authorized and directed to sign said budgets. Adjournment Moved,seconded and duly carried: That this special meeting of the ]3oard of Directors of County Sanitation District No.2 be adjourned. The Chairman declared the meeting so adjourned at 6:35 p.m.,August 11,1970. Chairman,Board of Directors County Sanitation District No.2 ATTEST: Secretary,Board of Directors County Sanitation District No.2 -2-