HomeMy WebLinkAboutResolution 1959 - 0715RESOLUTION NO.715-2
RESOLUTION AUTHORIZING TEMPORARY BORROWING UNDER
THE PROVISIONS OF THE GOVERNMENT CODE,SECTIONS
53850 THROUGH 53855
WHEREAS,it is anticipated that County Sanitation District
No.2 will need to borrow the sum of $50,000.00 to meet current
obligations likely to become due before January 1,1960,before
taxes for 1959-1960 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 $50,000.00 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 January 31,1960 and to bear interest at the
rate of three percent (3~h)per annum,interest payable atinaturity.
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.2 of Orange County,California.
The above and foregoing Resolution No.715-2 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 of said Board held on the 23rd day of September,1959.
Ora Mae Merritt,Secretary of the
Board of Directors of
County Sanitation District No.2
Of 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,Califoria,
do hereby certify that the above and foregoing Resolution No.715-2
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 of said Board held on the 23rd day
of September,1959,by the following roll call vote,to wit:
AYES:Directors Frank J.Schweitzer,Jr.,Howard M.Cornwell,
Glenn C.Fry,A.A.Hall,Rex A.Parks,Raymond L.
Pound,Walter W.Walker,Robert Wardlow and Willis H.
Warner
NOES:Directors None
ABSENT:Directors W.A.MacKinnon
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 23rd day of September,1959.
~
Ora Mae Merritt,Secretary of
County Sanitation District No.2
Of Orange County,California
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