City pays off golf course debt
Tuesday, May 27, 2014 — The city of Susanville will use one-time revenues it will receive this year to pay off some outstanding debts — including money borrowed for the city owned Diamond Mountain Golf Course, payment on the PERS Side Fund Debt Service and a partial funding of the General Fund Reserves.
Mayor Rod DeBoer and councilmembers Brian Wilson, Cheryl McDonald and Nicholas McBride voted to approve the ordinance. Councilmember Lino Callegari voted no.
At its May 7 meeting the Susanville City Council approved resolution No. 14-5045, authorizing a transfer of $468,234.28 from the general fund to the golf course account to pay off a $228,387,28 loan from General Fund Reserve account and another loan of $239,846.44 from the Risk Management Fund as well as other transfers using cash accumulated in the Risk Management Fund from previous dividend payments.
For the full story and other local stories, read the Tuesday, May 27, 2014 edition of the Lassen County Times.