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C-number: C-06-13-225-7

C-number: C-06-13-225-7-00
Item: #19
Revision: 00
Item Text
19. ASSISTANCE PACKAGE INTERGOVERNMENTAL AGREEMENT AND PROMISSORY NOTE FOR THE QUEEN CREEK COUNTY ISLAND FIRE DISTRICT Approve the Assistance Package Intergovernmental Agreement and Promissory Note in the amount of $50,000 for the Queen Creek County Island Fire District effective upon signature of the Chairman of the Board of Supervisors. The Promissory Note will be repaid when the District receives its property tax revenues or establishes a line of credit, whichever occurs first. The Queen Creek County Island Fire District was formed on January 9, 2013, (C-06-13-225-7-00) and is a special taxing district that will provide fire and emergency medical services to the county island residents who live within the municipal planning area of the Town of Queen Creek. The loan will be used to pay the Queen Creek County Island Fire District's Insurance Premium and other miscellaneous start up costs and will be repaid when the District receives its property tax revenues or establishes a line of credit, whichever occurs first. There is no expenditure impact as the County will record the Assistance Package Intergovernmental Agreement and Promissory Note as a $50,000 Accounts Receivable (Asset Balance Sheet Account 0081 - Due from other Governments) in the General Fund (Fund 100). Upon repayment of the Promissory Note, the County will reverse the amount recorded as an Accounts Receivable in the General Fund (Fund 100). (C-18-13-030-3-00)

1 item(s) sharing C-number base C-06-13-225-7