Information

Type: Deliberation

Department: AUD - Auditor

Directors' Update: April 5, 2023

Business Meeting: April 11, 2023

Summary:

Establish the Debt Service Fund No. 2230 pursuant to Resolution 23-117

Publications:

Cover Letter To:

Additional Copies To: Rieva Lester, Clerk of the Board Arny Davis, Treasurer Grace Jimenez, Auditor's Office - Financial Analyst III Becky Butler, Budget Manager

Resolution

WHEREAS, Resolution No. 23-117 authorized the sale, issuance and delivery of Limited Tax General Obligation Bonds, Series 2023; and

WHEREAS, the Limited Tax General Obligation Bonds were issued for the purpose of providing funds for capital improvements for the County’s jail facility, capital improvements to existing County facilities, and paying debt costs of issuance; and

WHEREAS, Section 7 of the bond agreement ratified in Resolution No. 23-117 directed the creation of a Limited Tax General Obligation Bond Redemption Fund for the purpose of paying the debt service costs of the bonds.

NOW THEREFORE BE IT RESOLVED that there is hereby established a Debt Service Fund to be known as the 2023 Debt Service Fund No. 2230 consistent with Resolution 23-117; and

NOW THEREFORE BE IT FURTHER RESOLVED that Resolution No. 23-117 provides the direction as to the funding and subsequent operation of the 2023 Debt Service Fund No. 2230.

DONE IN OPEN SESSION this 11th day of April, 2023.