Information

Type: Deliberation

Department: AUD - Auditor

Directors' Update: TBD

Business Meeting: April 13, 2021

Summary:

Establish the Debt Service Fund No. 2210 pursuant to resolution 20-452.

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. 20-452 authorized the sale, issuance and delivery of Limited Tax General Obligation Bonds, Series 2021; and

WHEREAS, Resolution No. 21-055 modified Resolution No. 20-452, reducing the required savings threshold for the Refunding portion of the proposed Bonds; and

WHEREAS, Resolution No. 21-147 modified Resolution No. 20-452, removing the sections related to the Refunding of the 2015 Bonds; and

WHEREAS, the Limited Tax General Obligation Bonds were issued for the purpose of providing funds for the acquisition, construction, and installation of improvements to the Juvenile Justice Center; for providing funds for the acquisition, construction, and installation of improvements to the county’s general government facility; providing funding to pay certain costs incurred with the issuance of the Bonds; and

WHEREAS, Section 9 of Resolution No. 21-452 created a “Lewis County Limited General Obligation Bonds, Series 2021 Debt Service 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 2021 Debt Service Fund No. 2210 consistent with Resolution 21-452 as modified by Resolutions 21-055 and 21-147; and

NOW THEREFORE BE IT FURTHER RESOLVED that Resolution No. 21-452 provides the direction as to the funding and subsequent operation of the 2021 Debt Service Fund No. 2210.

DONE IN OPEN SESSION this 13th day of April, 2021.