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MEMORANDUM
TO: The Board of Supervisors, North Lakeport Water District
FROM: Jan Coppinger, Josefine Chester
DATE: February 22, 2017
SUBJECT: Consideration of Adoption of Resolution Determining Redemption Fund Surplus in North Lakeport Water Assessment District 47-1 and Ordering Its Disposition.
EXECUTIVE SUMMARY: Pursuant to Board approval of Resolution No. 2010-131 which transferred delinquent assessments including penalties and interest to the Bond Redemption Fund, (Fund 729), the subject Resolution will authorize the remaining balance in Fund 729 be transferred to the Capital Improvement Designation in Fund 281, Budget Unit 8481, after all funds owed to the County for any advances made pursuant ot the 1915 Act have been repaid. This transfer will enable the District to utilize the funds to help sustain the North Lakeport Water system infrastructure.
FISCAL IMPACT: _Budgeted _X_Non-Budgeted
Estimated Cost: N/A
Amount Budgeted:N/A
Additional Requested:N/A
Annual Cost (if planned for future years):N/A
FISCAL IMPACT (Narrative):
STAFFING IMPACT (if applicable):N/A
Recommended Action
RECOMMENDED ACTION: Consideration of Adoption of Resolution Determining Redemption Fund Surplus in North Lakeport Water Assessment District 47-1 and Ordering Its Disposition.