Matter SCC-129409

BOS-2026-64 : Adopt Resolution authorizing an inter-fund loan from the General Fund to the Road Fund.

Budget & Finance Board of Supervisors

2 Documents on file 230 KB · 2 extracted · 2 AI summaries

File: SCC-129409
Type: Unknown
Status: Unknown
Requester: Unknown
Introduced: Unknown
Last synced: 16 Jul 2026 · 05:49

The papers

2 documents · 230 KB

01 133 KB

Resolution Printout

133 KB Extracted AI Summary

file Unknown sha 209a25e36f78 source Open source document ↗

Generated summary AI-assisted

The source text indicates this attachment appears to be a draft document.

The document is a resolution recommending an inter-fund loan from the General Fund to the Road Fund to finance the replacement of vehicles and heavy equipment in the Roads Department. The loan amount is up to $10,000,000, with a repayment plan supported by an ongoing allocation of $300,000. The resolution notes that the Road Fund has previously borrowed from the General Fund and outlines the potential consequences of not approving the loan.

Key points

Resolution for inter-fund loan from General Fund to Road Fund.
Loan amount up to $10,000,000 for replacing vehicles and equipment.
Ongoing allocation of $300,000 to support loan repayment.
Road Fund has previously borrowed $21,300,000 from the General Fund.
Outstanding balance as of June 30, 2026 will be approximately $8,577,049.03.
No impact on children, seniors, or sustainability.

Limitations

The document appears to be a draft as it includes placeholders and lacks finalized formatting.
The date mentioned is June 18, 2026, which may not be current.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 2,228 chars

County of Santa Clara Office of the County Executive 129409 DATE: June 18, 2026 TO: Board of Supervisors FROM: James R. Williams, County Executive SUBJECT: Resolution for Interfund Loan to the Road Fund RECOMMENDED ACTION Adopt Resolution authorizing an inter-fund loan from the General Fund to the Road Fund. FISCAL IMPLICATIONS This action allows the General Fund to lend the Road Fund up to $10,000,000 to replace vehicles and heavy equipment in the Roads Department that have reached the end of their useful life. REASONS FOR RECOMMENDATION The County Executive’s Recommended Budget included a one-time allocation of $10,000,000 for the purchase of new vehicles and equipment through an inter-fund loan, and an ongoing allocation of $300,000 to support repayment of the loan. Due to the large number of vehicles scheduled for replacement (44 heavy vehicles, 20 light vehicles, and 4 equipment attachments), this activity is being financed through a General Fund loan, which will be repaid with interest. The attached resolution authorizes the inter-fund loan. CHILD IMPACT The recommended action will have no/neutral impact on children or youth. SENIOR IMPACT The recommended action will have...

02 97.2 KB

Inter-Fund Loan from the General Fund to the Road Fund Resolution FY 2026-2027

97.2 KB Extracted AI Summary

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Generated summary AI-assisted

This resolution authorizes an inter-fund loan from the General Fund to the Road Fund of up to $10,000,000 for the purchase of critical vehicles, equipment, and heavy machinery necessary for the Roads and Airports Department. The loan will bear interest at a rate equal to the interest earned by the County's commingled investment pool, with repayments due quarterly. The loan, including interest, must be fully repaid by June 30, 2036.

Key points

The Roads and Airports Department requires up to $10,000,000 for necessary equipment.
The loan will be repaid over a period of 10 years.
Interest on the loan will be based on the County's commingled investment pool rate.
Quarterly interest payments are due on March 31, June 30, September 30, and December 31.
The loan must be fully repaid by June 30, 2036.

Limitations

The document does not specify the date of passage or the vote outcome.
The document contains placeholders for the vote tally (AYES, NOES, ABSENT, ABSTAIN) which are not filled in.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 3,337 chars

RESOLUTION NO. RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SANTA CLARA AUTHORIZING AN INTER-FUND LOAN FROM THE GENERAL FUND TO THE ROAD FUND WHEREAS, the Roads and Airports Department (“Department”) determined that investments in critical vehicles, equipment, and heavy machinery (“Equipment”) are necessary to the efficient execution of the Department’s mission; WHEREAS, the Department identified the necessary investments to require up to $10,000,000 in funding to obtain the Equipment; WHEREAS, the Department has determined that supplemental short-term funds may be necessary to obtain the Equipment; WHEREAS, the Department has determined that it will have sufficient financial resources to repay a loan from the County’s General Fund (“General Fund”) over a period of 10 years; WHEREAS, the Board of Supervisors of the County of Santa Clara (“Board”) desires that the purchase of the Equipment needed by the Department be funded by a loan from the General Fund; and, WHEREAS, Government Code section 25252 provides authority for the Board to transfer money from one County fund to another as the public interest requires. NOW, THEREFORE, BE IT RESOLVED by the Board of...