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C-number: C-18-09-016-M

C-number: C-18-09-016-M-00
Item: #43
Revision: 00
Item Text
43. RESOLUTION AUTHORIZING LINE OF CREDIT AGREEMENT WITH WELLS FARGO BANK FOR COUNTY ISLAND FIRE DISTRICTS Adopt a Resolution and approve the Revolving Line of Credit Agreement with Wells Fargo Bank for county island fire districts. Also, approve the Revolving Lines of Credit Notes for the Gilbert County Island Fire District and the Tempe County Island Fire District. Pursuant to A.R.S. 11-604.01, the Board of Supervisors may enter into agreements with a financial institution authorized to do business in this state for the purpose of obtaining a separate and distinct revolving line of credit for the County and each individual political subdivision of the County for the current fiscal year to pay the lawful claims and obligations of that political subdivision until sufficient monies for payment from property taxes and other non restricted revenues are received by the Treasurer. The Gilbert and Tempe County island fire districts have been duly created and have assessed taxes for the 2008-09 tax year. The proposed lines of credit will enable these districts to meet their financial obligations and operate until such time as monies are received from property taxes. (C-18-09-016-M-00)

1 item(s) sharing C-number base C-18-09-016-M