HomeMy WebLinkAboutResolution 1950 - 0025RESOLUTION NO.2S
A RESOLUTION OF THE BOARD OF DIRECTORS
OF COUNTY SANITATION DISTRICT NU1~4BER FIVE
DECLARING THAT NO TAX RATE IS NECESSARY
THEREIN FOR THE FISCAL YEAR 19~O-~l,AND
AGREEING TO TRANSFER APPROXIMATELY
~2~,OOO.OO FROM ITS OPERATING FUND,IF
REQUIRED BY TUE SALE OF BONDS,TO MEET
TUE PAYNENTS OF PRINCIPAL AND INTEREST
THEREIN FOR ThE FISCAL YEAR l9~O—51.
The Board of Directors of County Sanitation District
Nu.riber Five does resolve as follows:
SECTION I.That,as County Sanitation District Number Five
has in Its Treasury in its operating Lurid a sufficient amount of
money to pay its operating expenses and the principal and Interest
on its bonds falling due during the fiscal year l9~O-5l,if said
bonds are sold,it is declared tlat no tax rate is necessary ID
be fixed and determined for said fiscal year.
SECTION II.To pay the principal and interest maturing on
its bonds during the fiscal year,1950-51,the Board of Directors
of County Sanitation District Number Five will transfer approximately
~25,OOO.OO from its operating fund to its bond interest and re
tirement fund,if such transfer is required by the sale of its
bonds and such transfer is required to meet the first yearT a pay
ments of principal and interest on its bonds if sold.
The foregoing Resolution was introduced by Director Ross Greeley,
who moved its adoption.Said motion was seconded by Director
Braden Finch,and was carried by the following vote:
AYES:Director Ross Greeley and Braden Finch
NO.~S:None
ABSENT:Director Irvin G.Gordon
STATE OF CALIFORNIA )
as
COUNTY OF ORANGE )
I,ORA MAE NERRITT,Secretary of the Board of Directors of County
Sanitation District No.5 of Orange County,California,hereby certify
that the above and foregoing Resolution was duly and regularly adopted
by said Board at a regular meeting thereof held on the 13th day of
September,1950.
IN WITNESS WHEREOF,I have hereunto set my hand this 13th day
of September,l9~O.
Secretary of the Board of Directors
of County Sanitation District No.5
of Orange County,California