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,MAY 2 2 1990 <br />_I <br />BOOR 80 FAUHJ,.Ci <br />►. Out -of -County Travel <br />Permission for a member of the County Attorney's Office to <br />►ttend a Trial Advocacy Course in Seattle was withdrawn from the <br />tgenda at the request of the County Attorney. <br />E. Receiving State. Revenues by Wire <br />The Board reviewed memo from Finance Director Edwin Fry: <br />TO: Hon. Board of County Comm. 'DATE: May 15, 1990 FIS: <br />SUBJECT: Receiving State Revenues by Wire <br />C� <br />FROM: Edwin M. Fry, Jr. REFERENCES: <br />Finance Director <br />Please adopt the following resolutions authorizing the State Comptroller <br />to send the Infrastructure Tax (10 sales tax) and the Local Option Gas <br />Tax (60 gas tax) by wire. <br />Presently, the County is receiving the �fi sales tax, the 7th cent gas <br />tax, the tourist tax and state revenue sharing by wire. The advantage <br />of receiving state revenues by wire is that we receive the.monies sooner <br />than if the state sent us a check; it also provides us with the ability <br />to.invest the monies sooner. The additional interest earnings more than <br />offset the wiring charge. Also, wires coming into the bank are immediately <br />credited to our account whereas checks must clear the originating bank <br />before the funds are credited to our account. <br />ON MOTION by Commissioner Bird, SECONDED by Commis- <br />sioner Scurlock, the Board unanimously adopted <br />Recolution 90-64 authorizing receiving of the Local <br />Government Infrastructure Surtax by wire and adopted <br />Resolution 90-65 authorizing receiving of the Local <br />Option Gas Tax by wire. <br />4 <br />