Resolution No. 2007 - 11

A RESOLUTION OF THE BOARD OF TRUSTEES OF THE

COACHELLA VALLEY MOSQUITO AND VECTOR CONTROL DISTRICT

PROVIDING FOR A CONTINUATION AND ACCUMULATION OF A

FUND FOR CAPITAL OUTLAYS

WHEREAS, the Board of Trustees of the Coachella Valley Mosquito and Vector Control District, in order to better provide for continuation and accumulation of a fund for capital outlays, has passed and adopted Resolution 2001-10; and

WHEREAS, on June 12, 2007, the Board of Trustees adopted the Fiscal Year 2007-2008 Budget for the Coachella Valley Mosquito and Vector Control District (the “FY 07/08 Budget”), the provisions of which are incorporated herein by reference as though fully set forth in this Resolution; and

WHEREAS, the District has determined the need for continued upgrading and replacement of buildings, equipment, vehicles, and purchase of land; and

WHEREAS, the District has determined the need to accumulate money to accomplish the upgrading and replacement of District facilities, equipment, and vehicles;

NOW, THEREFORE, BE IT RESOLVED as follows:

THAT the District, as authorized by Government Code Sections 53731 and 53734, hereby establishes and provides for the continuation and accumulation of a fund for capital outlays of the type hereinafter set forth in Resolution 2001-10 and in the FY 00/01 Budget, and in the FY 07/08 Budget (as part of the “Annual Capital Budget”, and the “Annual Reserve Budget”); and

THAT said fund shall be used in accordance with the FY 07/08 Budget only for one or more of the following purposes, and for no other:

1. Purchase of land or building sites.

2. Constructing, purchasing, expanding, remodeling, upgrading and replacement of buildings, appurtenant structures, equipment, and vehicles.

3. Purchasing equipment with which to furnish said buildings after their purchase, construction, expansion, remodeling, upgrading, and/or replacement.

THAT such fund shall be designated as “Accumulative Capital Outlay Fund” and all or part of the fund may be shown in the budget as reserves for future expenditures in subsequent years and, when so shown, shall be identified as to purposes, but need not be itemized; and

THAT at any time after the creation of said Accumulative Capital Outlay Fund, the Board of Trustees by a majority vote may transfer to such fund any unencumbered surplus funds remaining on hand at the end of a fiscal year and may make such other transfers to such fund as may be authorized by law; and

THAT no disbursements shall be made from the Accumulative Capital Outlay Fund except for purposes enumerated above; and

THAT a Resolution shall be adopted annually at the time of the District General Budget and District Accumulative Capital Outlay Budget Approval.

THAT this resolution shall be effective as of July 1, 2007.

PASSED AND ADOPTED by the Board of Trustees of the Coachella Valley Mosquito and Vector Control District on this 10th day of July 2007 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

____________________________________

Mike Duran, President, Board of Trustees

Coachella Valley Mosquito & Vector Control District

ATTEST:

____________________________________

Bruce Underwood, Secretary/Treasurer, Board of Trustees

Coachella Valley Mosquito & Vector Control District