Adopt a resolution authorizing a loan from the County’s General Fund to Shasta Lake Fire Protection District (District) in the amount of $100,000 to be repaid from the December 2016 secured property tax apportionment, and the January 2017 Redevelopment Property Tax distribution due the District.

Pursuant to Government Code section 23010, the Board of Supervisors is authorized to lend any of its available funds to any community services district, county waterworks district, mosquito abatement district, pest abatement district, fire protection district, flood control and water conservation district, recreation and park district, regional park district, regional park and open-space district, regional open-space district, resort improvement district, or public cemetery district located wholly within the county, if its funds are or when available will be in the custody of the county or any officer of the county, in order to enable the district to perform its functions and meet its obligations;  the loan shall not exceed 85 percent of the district’s anticipated revenue for the fiscal year in which it is made or in the next ensuing fiscal year, and shall be repaid out of that revenue prior to the payment of any other obligation of the district.

The Board could suggest that the District pursue commercial credit as an alternative to the County loan proposal.

The Auditor-Controller’s Office assisted with computation of the property tax proceeds anticipated for the District.  If this recommendation is approved, the Auditor’s Office will process the loan payment and the repayment.  The County Administrative Office concurs with this recommendation.

A short-term loan to the District which accrues interest at the pooled treasury rate would not adversely affect the General Fund.