HomeMy WebLinkAboutResolution 1958 - 0544RESOIJtY1’ION NO.544-11
RESOLUTION AUTHORIZING TEMPORARY BORROW
ING UNDER THE PROVISIONS OF THE GOVERN
MENT CODE SECTION 53850 THROUGH 53855
WHEREAS,it is anticipated that County Sanitation Distr
ict No.11 will need to borrow the-sum of $53,000.00 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 85 percent 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 the District 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 $53,000.00 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 sum be borrowed from
the bond,Interest and sinking fund of County Sanitation
District No.11 of Orange County,California.
The foregoing Resolution No.544—11 was passed and adopted
by the Board of Directors of County Sanitation District No.11
at a regular adjourned meeting thereof on the 24th day of
September,1958.
Secretary,Board of Directors
County Sanitation District No.11
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.11 of Orange County,California,
do hereby certify that the above and foregoing Resolution No0 544-i.
was regularaly passed and adopted by the Board of Directors of
County Sanitation District No.11 of Orange County,California,
at a regular adjourned meeting thereof on the 24th day of
September,1958,by the following vote,to wit:
AYES:Director Victor Terry and Director Earl T,Irby
NOES:None
ABSENT;Director Willis H.Warner
IN WITNESS WHEREOF,I have he~’eunto set my hand and affixed
the official seal of County Sanitation District No.11 of Orange
County,California,this 24th day of September,1958.
~
Secretary,Board of Directors
County Sanitation District No.11
Orange County,California
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