Community Services District Elects to Participate in Prop 1A Receivables Bond Option, Recognizes Board Secretary Mary Reeves

bbcsd-thumbThe Big Bear City Community Services District Board unanimously agreed (as did the City Council of Big Bear Lake earlier this month) to redirect the Proposition 1A receivables from the state to the California Communities bond option. Essentially, eight percent of current state tax revenues due to cities and municipalities is being borrowed by the State and will not be forthcoming until 2013, at which time they will be paid by the State with two percent interest—so, entities such as CSD have the option of selling these funds to California Communities, at 100% value, thus allowing CSD access to funds due them now rather than in 2013. At their meeting last night, October 19, the CSD Board of Directors voted 4-0 to move forward with the bond option. (Director Barbara Beck abstained due to a potential conflict of interest.) In other news from their meeting on Monday, CSD recognized five-year employee Mary Reeves, with General Manager Mike Mayer saying, “She excels in the areas of organization, neatness and accuracy. Almost two years ago, we created the new position of administrative specialist, which includes the responsibilities of board secretary. Since being promoted to this position, Mary has worked diligently to improve all matters related to the District minutes, agendas, resolutions and ordinances. For these efforts, I am truly grateful.”

bbcsd-thumbThe Big Bear City Community Services District Board unanimously agreed (as did the City Council of Big Bear Lake earlier this month) to redirect the Proposition 1A receivables from the state to the California Communities bond option. Essentially, eight percent of current state tax revenues due to cities and municipalities is being borrowed by the State and will not be forthcoming until 2013, at which time they will be paid by the State with two percent interest—so, entities such as CSD have the option of selling these funds to California Communities, at 100% value, thus allowing CSD access to funds due them now rather than in 2013. At their meeting last night, October 19, the CSD Board of Directors voted 4-0 to move forward with the bond option. (Director Barbara Beck abstained due to a potential conflict of interest.) In other news from their meeting on Monday, CSD recognized five-year employee Mary Reeves, with General Manager Mike Mayer saying, “She excels in the areas of organization, neatness and accuracy. Almost two years ago, we created the new position of administrative specialist, which includes the responsibilities of board secretary. Since being promoted to this position, Mary has worked diligently to improve all matters related to the District minutes, agendas, resolutions and ordinances. For these efforts, I am truly grateful.”

Related posts:

  1. City of Big Bear Lake, CSD, MWD and Airport District to Receive Proposition 1A Receivables in January; Districts Choose Bond Option Over State Payment in 2013
  2. Community Services District Recognizes Employees Booth and Musella; District’s Water Master Plan Will Not Be Available for Public Review This Month
  3. Community Services District Draws Community Support for Coelho Decision; Board Approves Fire Department Computer Upgrades
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