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Mono County EDC holds required annual meeting; board reviews financial statements, solid-waste COP reported paid off
Summary
County Counsel reviewed the Mono County Economic Development Corporation (EDC) status and unaudited financial statements; finance staff said the solid-waste certificate of participation has been paid off and auditors will complete the county audit later this year. The Board directed staff to return with audited statements at the next meeting.
The Mono County Board of Supervisors convened the required annual meeting of the Mono County Economic Development Corporation (EDC) during its regular session and reviewed the EDC’s history and recent financial statements. County Counsel Chris Beck summarized the EDC’s purpose and told the board the corporation has been used for several county financing activities, including certificates of participation for solid waste, the Civic Center and jail lease financing.
“The Mono County Economic Development Corporation is a 501(c)(3) public benefit corporation,” County Counsel Chris Beck said, and he told the board the EDC was formed in February 2001 to provide assistance to the county for financing, refinancing, property acquisition, construction and land development. Beck…
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