Reso 1981-37211
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RESOLUTION NO. 71-372-
A RESOLUTION OF THE
COSTA MESA SANITARY
CREDITING OF EARNED
FUNDS; PROVIDING FO
VESTMENT CHARGES TO
REASONS THEREFOR.'
BOARD OF DIRECTORS OF THE
DISTRICT PROVIDING FOR THE
INTEREST TO SPECIFIC DISTRICT
R THE DEBIT OF QUARTERLY IN-
SAID FUNDS; AND SETTING FORTH
THE BOARD OF DIRECTORS OF THE COSTA MESA SANITARY DISTRICT
DOES HEREBY RESOLVE AS FOLLOWS:
THAT, WHEREAS, Section 53647 of the California Government
Code provides that interest on all money deposited with the County
of Orange belongs to and shall be paid quarterly into the general
fund of the COSTA MESA SANITARY DISTRICT; and
WHEREAS, notwithstanding the aforesaid provision of Section
53647, said interest may be paid into the fund which contains the
principal on which the interest accrued; and
WHEREAS, certain investment charges are incurred by the
DISTRICT for the investing services provided for by the County of
Orange; and
WHEREAS, the Tax Collector for the County of Orange has
desired direction with respect to the allocation of interest and
investment expense; and
WHEREAS, interest has been earned on the following funds of
the DISTRICT:
Fund No. Name of Fund
5391 General Fund
5411 Sewer Construction Fund
5441 No. 7 Sewer Trunk Fund
5451 Facilities Revolving Fund;
and
WHEREAS, the Board by this Resolution desires to instruct the
Tax Collector with respect to the allocation of interest and in-
vestment expense;
NOW, THEREFORE, BE IT RESOLVED that interest earned on each
of the aforesaid funds shall be paid quarterly into the fund which
contains the principal on which the interest accrued.
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BE IT FURTHER RESOLVED that quarterly investment charges, if
any, imposed by the County of Orange be debited,from each of the
aforesaid funds on which investing services have been performed.
BE IT FURTHER RESOLVED that this Resolution shall be effec-
tive for DISTRICT's 1981 -82 fiscal year for interest whether paid,
accrued, or accrued and unallocated and shall be a continuing
instruction to the Tax Collector for the County of Orange and.a
continuing exercise of DISTRICT's option under Section 53647,
California Government Code, until rescinded, changed, or otherwise
modified by subsequent resolution.
BE IT'FINALLY RESOLVED that a certified copy of this Resolu-
tion be sent, both to the Tax Collector for the County of Orange
and to the office of the Auditor - Controller.
PASSED AND ADOPTED by the Board of Directors of the COSTA
MESA SANITARY DISTRICT at a regular meeting held on the 10th day
of December, 1981.
ident of the BoarC of lii.rectors
the COSTA MESA SANITARY DISTRICT
(ATTEST:
BY
Se retary of the Board of
Directors of the COSTA MESA
SANITARY DISTRICT
//
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STATE OF CALIFORNIA )
) SS.
COUNTY OF ORANGE )
ELVIN HUTCHISON, Secretary of the Board
of Directors of the Costa Mesa Sanitary District of
Orange County, California, DO HEREBY CERTIFY that the
foregoing _ Resolution, being Resolution No. 81 -372 ,
was duly passed, approved and adopted by said Board,
approved and signed by the President of said Board, and
attested by the Secretary of said Board, all at a
Regular Meeting of the said Board held on the 10th day
of December 19 81 and that the same was
passed and adopted by the following roll call vote, to wit:
AYES: Directors - -Wahner, Crank, Hutchison,
Hanson, Green
NOES: Directors - None.
ABSENT: Directors - None
DATED this 13th day of, April , 19 82 .
s
ELVIN HLTPCHISCN
Secretary of the Board of Directors
of the Costa Mesa Sanitary District
Orange County, California
r
By_ , As Secretary
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e
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AYES: Directors - Wahner,,Crank, Hutchison,
Hanson, Green.
NOES: Directors - None
ABSENT: Directors - None
DATED this /✓ day of , 1981.
Assistant Secretary
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STATE OF CALIFORNIA )
) SS.
COUNTY OF ORANGE )
I, ELVIN HUTCHISON, Secretary of the Board
of Directors of the Costa Mesa Sanitary District of
Orange County, California, DO HEREBY CERTIFY that the
foregoing.Resolution, being Resolution No. 81 -372 ,
was duly passed, approved and adopted by said Board,
approved and signed by the President of said Board, and
attested by the Secretary of said Board, all at a
Regular Meeting-of the said Board held on the 10th day
of Decenber , 19 81 and that the same was
passed and adopted by the following roll call vote, to wit:
AYES: Directors - Wahner, Crank, Hutchison,
Hanson, Green
NOES: Directors - None
ABSENT: Directors - None
DATED this 13th day of. April , 19 82 .
ELVIN HU=SC�1
Secretary of the Board of Directors
of the Costa.Mesa Sanitary District
Orange County, California
By
Assistant Secretary
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