REGULAR AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date: 

Paul S. McCulla, County Administrator

February 8, 2007

Staff Lead:

Department: 

Kevin J. Burke, County Attorney

Fauquier County Attorney

Topic: 

A Resolution Authorizing Borrowing by the Rappahannock-Rapidan Community Services Board and Area Agency on Aging Not to Exceed $1,000,000

Topic Description:

The Rappahannock-Rapidan Community Services Board voted at a recent meeting to seek authorization from its charter counties to establish a procedure by which it may obtain operating and intermediate capital funds as cash flow needs may dictate. The Community Services Board is seeking authorization from the charter counties to borrow from time to time funds not to exceed $1,000,000. At present if the Community Services Board wishes to borrow any funds, it must go through the process of obtaining pre-approval from all of its charter counties.  

The Community Services Board has encountered various situations where it needs to borrow funds on an expedited basis.  For example, there may be a project which will be funded by grant money; however, it is necessary for the Community Services Board to acquire the real estate in advance to proceed with obtaining the grant funds.   This approach will allow the Community Services Board to have what amounts to a credit line of up to $1,000,000 to draw upon to meet the needs of its $16 million dollar per annum operation.  The legal representative of the CSB has indicated that no charter county would have any liability whatsoever for any funds borrowed by the RRCSB. 

 

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

Financial Impacts Analysis:

There is no financial impact on the County by authorizing the Community Services Board to borrow funds under the proposed conditions.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

County Administration

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