HomeMy WebLinkAboutResolution 1958 - 0542RESOLUTION NO.542-2
RESOLUTION AUTHORIZING TEMPORARY BORROW
ING UNDER THE PROVISIONS OF THE GOVERN-~
MENT CODE SECTIONS 53850 TIffiOUGH 53855
WHEREAS,it is anticipated that County Sanitation District
No.2 will need to borrow the sum of $116,000.00 to meet current
obligations likely to become due before January 1,1959,before
taxes for 1958-1959 will be received by the District;and
WHEREAS,said sum is less than eighty-five percent (85%)of
the revenue anticipated from taxes for the current fiscal year,
which taxes have not been collected at this time;and
WHEREAS,the Auditor and Treasurer of theDistrict have
recommended and approved the aforesaid borrowing in accordance
with the provisions of Section 53851 of the Government Code:
NOW,THEREFORE BE IT RESOLVED,that the District borrow
the sum of $116,000.00 and issue its promissory note to the lender
in the full amount of the money borrowed,said note to be due and
payable on or before June 1,1959 and to bear interest at the rate
of 3 percent per annum,interest payable at maturity.
BE IT FURTHER RESOLVED,that the Chairman and Secretary of
the District are authorized and directed to sign the aforesaid
promissory note.
BE IT FURTHER RESOLVED,that said money be borrowed from the
bond,interest and sinking fund of County Sanitation District No.
1 of Orange County,California.
The above and foregoing Resolution No.5~42-2 was regularly
passed and adopted by the Board of Directors of County Sanitation
District No.2 of Orange County,California,at a regular
adjourned meeting thereof held on the 24th day of September,1958.
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Secretary,Board of Directors
County Sanitation District No.2
Orange County,California
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STATE OF CALIFORNIA)
ss
COUNTY OF ORANGE )
I,ORA MAE MERRITT,Secretary of the Board of Directors of
County Sanitation District No.2 of Orange County,California,do
hereby certify that the above and foregoing Resolution No.542-2
was regularly passed and adopted by the Board of Directors of
County Sanitation District No.2 of Orange County,California,
at a regular adjourned meeting thereof held on the 24th day of
September,1958,by the following roll call vote,to wit:
AYES:Directors Dale H.Heinly,Raymond L.Pound,Harold F.
Ansell,Howard M.Cornwell,W.A.MacKinnon,Rex A.Parks,
Glenn G.Fry,Jim Kanno and Frank J.Schweitzer,Jr.
NOES:Directors None
ABSENT:Director Willis H.Warner
IN WITNESS WHEREOF,I have hereunto set my hand and affixed
the official seal of County Sanitation District No.2 of Orange
County,California,this 24th day of September,1958.
Secretary,Board of Directors
County Sanitation District No.2
Orange County,California
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