HomeMy WebLinkAboutResolution 1989 - 0089RESOLUTION NO.89-89-14
CREATING COUNTY SANITATION DISTRICT NO.14
CAPITAL FACILITIES FUND AND TERMINATING
THE ACCUMULATED CAPITAL OUTLAY FUND
A RESOLUTION OF THE BOARD OF DIRECTORS
OF COUNTY SANITATION DISTRICT NO.14 OF
ORANGE COUNTY,CALIFORNIA,CREATING A
CAPITAL FACILITIES FUND AND TERMINATING
THE ACCUMULATED CAPITAL OUTLAY FUND
WHEREAS,the Board of Directors of County Sanitation District No.14 has
heretofore established the Accumulated Capital Outlay Fund;and,
WHEREAS,the Board of Directors now wish to create a Capital Facilities
Fund which will contain the funds formerly deposited in the Accumulated Capital
Outlay Fund.
NOW,THEREFORE,the Board of Directors of County Sanitation District
No.14 of Orange County,California,
DOES HEREBY RESOLVE,DETERMINE AND ORDER:
Section 1 That there.is hereby established the Capital Facilities Fund of
County Sanitation District No.14 of Orange County,California.
Section 2 That all funds currently deposited in the Accumulated Capital
Outlay Fund shall be transferred to the Capital Facilities Fund.
Section 3 That all funds that would have been deposited in the
Accumulated Capital Outlay Fund when collected shall,hereafter,be deposited in
the Capital Facilities Fund.
Section 4 That the Capital Facilities Fund shall be used only for the
acquisition,construction,reconstruction,maintenance and operation of sewerage
facilities;to repay principal and interest on debt instruments issued for the
construction or reconstruction of such water systems and sanitary or sewerage
facilities and to repay federal or state loans or advances made to such entity
for the construction or reconstruction of water systems and sanitary or sewerage
facilities;and other purposes described in Sections 5471 and 5474.9 of the
California Health and Safety Code,and Section 53731 of the Government Code.
Section 5 That upon transfer of funds from the Accumulated Capital Outlay
Fund to the Capital Facilities Fund,the Accumulated Capital Outlay Fund shall
termi nate.
PASSED AND ADOPTED at a regular meeting held July 12,1989.
STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE )
I,RITA J.BROWN,Secretary of the Board of Directors of County
Sanitation District No.14 of Orange County,California,do hereby certify
that the foregoing Resolution No.89-89-14 was passed and adopted at a regular
meeting of said Board on the 12th day of July,1989,by the following vote,to
wit:
AYES:Peer A.Swan,Chairman,Ursula E.Kennedy,Sally Anne Sheridan,
Don E.Smith
NOES:None
ABSENT:Don R.Roth
IN WITNESS WHEREOF,I have hereunto set my hand and affixed the official
seal of County Sani€ation District No.14 of Orange County,California,this
12th day of July,1989.
(I.
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Rita J.Brown,Secretary -
Board of Directors-df Côurty ~
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Sanitation Distri-~t~No.14
of Orange County,California~.