HomeMy WebLinkAboutResolution 1958 - 0569RESOLUTION NO.569-11
A RESOLUTION OF THE BOARD OF DIRECTORS OF
COUNTY SANITATION DISTRICT NO.11 OF ORANGE
COUNTY,CALIFORNIA,AUTHORIZING TEMPORARY
BORRO~~ING UNDER THE PROVISIONS OF GOVERN
MENT CODE SECTIONS 53850 THROUGH 53855
INCLUSIVE.
WHEREAS,it is anticipated that County Sanitation District
No.11 of Orange County,California,will need to borrow the
sum of $10,500.00 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 $10,500.00 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.11 of Orange County,California.
The above and foregoing Resolution No.569-11 was regularly
passed and adopted by the Board of Directors of County Sanita
tion District No.11 of Orange County,California,at a regular
meeting of said Board held on the 12th day of November 1958.
Ora Mae Merritt,Secretary ot the
Board of Directors of County Sani
tation District No.11 of Orange
County,California
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a
STATE OF CALIFORNIA )
)SS.
COUNTY OF ORANGE )
I.~ORA MAE NERRITT,Secretary of the Board of Directors
of County Sanitation District No.ii of Orange County,Cali
fornia,do hereby certify that the above and foregoing Resolu
tion No.569.bll was regularly passed and adopted by the Board
of Directors of County Sanitation District No.11 of Orange
County,California,at a regular n’ieeting of said Board held
on the 12th day of November 1958,by the following roll call
vote,to wit:
AYES:Directors Victor Terry,Willis H.Wax~ner and Earl T.Irby
NOES:Directors None
ABSENT:Directors None
IN WITNESS WHEREOF,I have hereunto set my hand and
affixed the official seal of County Sanitation District~No.11
of Orange County,California,this 12th day of November 1958.
Ora.~ae Merritt,Sëcfefaiy of the
—
Board of Directors of County Sanita
tion District No.ii of Orange County,
California
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