HomeMy WebLinkAbout1980-06-26 - Resolution No. 80-170 0
RESOLUTION NO. 80-17
RESOLUTION OF THE BOARD OF DIRECTORS OF THE YORBA LINDA COUNTY
WATER DISTRICT ESTABLISHING DISTRICT RESERVE FUND AND APPROPRIATING
UNAPPROPRIATED TAX PROCEEDS THERETO
WHEREAS, the Board deems it necessary to establish an additional fund,
pursuant to Section 5 of Article XIII B of the California Con-
stitution, to which would be appropriated all previously unapprop-
riated proceeds of taxes received in or carried over to the,
1979-80 fiscal year; and
WHEREAS, the Board, on the basis of tentative estimates, believes that
such unappropriated proceeds of taxes will aggregate $253,000;
NOW, THEREFORE, THIS BOARD OF DIRECTORS OF THE YORBA LINDA COUNTY WATER
DISTRICT do hereby resolve as follows:
1. That there is hereby established, pursuant to Section 5 of
Article XIII B, a new district fund to be called the "District
Reserve Fund", for the purpose of funding any future District
expenditure.
2. That there is hereby appropriated to said fund in the 1979-80
fiscal year all unappropriated proceeds of taxes, which at the
present time are believed to be $253,000.
It is the Board's intention that all such proceeds be hereby
appropriated, and should later financial reports show that the
amount of such proceeds were greater than estimated, the amount
of such excess shall be deemed, and is hereby appropriated to,
the District Reserve Fund.
PASSED AND ADOPTED THIS 26
called vote:
Ayes: Directors Lindow,
Noes: None
Absent: None
Abstain: None
ATTEST:
Secretary
day of June, 1980 by the following
Clodt, Korn, Cromwell and Knauft
C/ a
President