HomeMy WebLinkAboutResolution 1978 - 0124RESOLUTION NO.78-124
AUTHORIZING PAYMENT OF INTERESTS EARNED ON
COMMINGLED INVESTMENTS TO APPROPRIATE FUND
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS
OF COUNTY SANITATION DISTRICTS NOS.1,2,3,5,
6,7 AND 11 OF ORANGE COUNTY,CALIFORNIA AUTHO
RIZING PAYMENT OF INTERESTS EARNED ON COMMINGLED
INVESTMENTS TO THE FUND CONTAINING THE PRINCIPAL
ON WHICH SAID INTEREST IS EARNED
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WHEREAS,the existing state law requires that interest on moneys deposited
in a depositary by an officer of a local agency belongs to,and shall be paid
quarterly into,the general fund of the local agency,unless otherwise directed
by law;and,
WHEREAS,recently adopted Assembly Bill No.2376 provides that notwith
standing such provisiqns of existing~law,except as otherwise directed by law,
that if the governing body of the local agency so directs,interest on moneys
deposited shall be paid to the fund which contains the principal on which the
interest is accrued,
NOW,THEREFORE,the Boards of Directors of County Sanitation Districts Nos.
1,2,3,5,6,7 and 11 of Orange County,California,
DO HEREBY DETERMINE,RESOLVE AND ORDER:
Section 1 That the Director of Finance is hereby authorized to direct
County Treasurer to pay interest earned on Districts’commingled funds to the
fund which contains the principal on which said interest is accrued.
PASSED AND ADOPTED at a regular meeting held July 12,1978.
STATE OF CALIFORNIA )
)SS.
COUNTY OF ORANGE
I,J.WAYNE SYLVESTER,Secretary of the Boards of Directors of
County Sanitation Districts Nos.1,2,3,5,6,7,and 11 of Orange
County,California,do hereby certify that the above and foregoing
Resolution No.78-124 was regularly passed and adopted at a
regular meeting of said Boards on the 12th day of July ,
1978
by the following vote,to wit:
AYES:Philip Anthony,Norman Culver,Vernon Evans,Donald Fox,
Sal Gambina~Francis Glockner Beth Graham,Don Griffin,
Donald Holt,Jr.,Bernard Houston,Frank Laszlo,Don
Mclnnis,Harry.Miller,Ronald Nyborg,Richard Olson,
ROn Pattinson,Bob Perry,Thomas Riley,Kerm Rima,Earl
Roget,Paul Ryckoff,Donald Salta~re1li,Laurence Schmit,
James Sharp,’Ron Shenkman,Richard Siebert,Don Smith,
Roger Stanton,Donald Strauss,Bernie Svalstad,Bill
Vardoulis,.Louis Velasquez,Henry Wedaa,Ray Williams,
Duane Winters and Kenneth Zommick
NOES:None
ABSENT:Donald Hudson and John Seymour
IN WITNESS WHEREOF,1 have hereunto set my hand this 12th day
of July ,1978
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3.1a v ster,Secretary,
ard.s of D ectors,County
anit ion istricts Nos.1,2,
3,5,6,7,and 11 of Orange
County,California
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