Memorandum
Date: August 2, 2022
To: The Honorable Lake County Board of Supervisors
From: Moke Simon, District 1 Supervisor
Subject: Approve Use of Geothermal funds for the purpose of loan repayment for the Anderson Springs Community Service District and authorize the County Administrative Officer to sign a purchase order in the amount of $218,399.45
Executive Summary:
The Anderson Springs Community Service District is requesting that the County assist them in paying off a loan with USDA that financed the purchase of two water tanks. The loan was taken out before the Valley Fire, which initially caused the water district to lose 90% of its customer base and rely heavily on reserve funds. Since then, infrastructure has been unstable. The heavy equipment related to the fires aftermath as well as rebuilding has caused the pipes buried beneath the roadways to weaken. The District no longer has the funds to pay for wear and tear.
I propose using Geothermal funds to assist the District in repaying the loan in the amount of $218,399.45. The District can then use funds set aside for their loan payment to maintain infrastructure.
If not budgeted, fill in the blanks below only:
Estimated Cost: ________ Amount Budgeted: ________ Additional Requested: ________ Future Annual Cost: ________
Consistency with Vision 2028 (check all that apply): ☐ Not applicable
☐ Well-being of Residents ☐ Public Safety ☐ Disaster Prevention, Preparedness, Recovery
☐ Economic Development ☐ Infrastructure ☐ County Workforce
☐ Community Collaboration ☐ Business Process Efficiency ☐ Clear Lake
Recommended Action:
Approve Use of Geothermal funds for the purpose of loan repayment for the Anderson Springs Community Service District and authorize the County Administrative Officer to sign a purchase order in the amount of $218,399.45