KXO RADIO - Local Entity Should Get Requested Interest

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Todays is : Thursday, 20 November 2008

Written by George Gale
Thursday, 13 July 2006
(THE LOCAL ENTITY WILL GET THE INTEREST THEY ASKED FOR)….SEDALIA SANDERS, CHAIRPERSON FOR THE LOCAL ENTITY, ASKED THE IMPERIAL IRRIGATION DISTRICT TO PROVIDE THE ENTITY ON THE FUNDS PROVIDED BY THE SAN DIEGO COUNTY WATER AUTHORITY TO HELP PAY FOR SOCIO-ECONOMIC IMPACTS RESULTING FROM LAND FALLOWING. THE IID HAD HELD ON TO THE $5.26 MILLION, ALLOTING $3.5 MILLION TO THE ENTITY TO COVER THE FIRST ROUND OF IMPACTS. THE INTEREST ON THOSE FUNDS COMES TO AROUND $180,000. IN HIS FIRST MOTION AS DIVISION 3 DIRECTOR JAMES HANKS AGREED THE INTEREST SHOULD GO TO THE LOCAL ENTITY. SAN DIEGO IS EXPECTED TO SEND ANOTHER $5 MILLION, BUT IT IS NOT KNOWN IF A SEPARATE MOTION WILL BE NEEDED FOR THE ENTITY TO OBTAIN THE INTEREST ON THOSE FUNDS.