HomeMy WebLinkAboutRESOLUTIONS - 01012005 - 2005-574 THE BOARD OF SUPERVISORS OF
CONTRA COSTA COUNTY, CALIFORNIA
AS THE GOVERNING BOARD OF THE CONTRA COSTA COUNTY
FLOOD CONTROL &WATER CONSERVATION DISTRICT
Adopted this:Resolution on September 13,2005,by the following vote:
AYES: Gioia,Piepho,DeSaulnier,Glover and Uilkema
NOES: None
ABSENT: None
ABSTAIN: None
:�SOT.�UTIN NO.2005i "'
SUBJECT Approving Deposit by the District to the Flood Control'Revolving Fund and Approving Loan
from the Fund to Flood Control Zone 9,Pinole area. (District H).
WHEREAS the following entityhas funds that are temporarily not needed and are available for deposit
into the Flood.Control District Revolving Fund.
Flood Control District(250500) $55,000
WHEREAS the fallowing entity needs a loan in the amount indicated:
Flood Control Zone 9 (253200)$55,000
WHEREAS said Revolving Fund loan is needed to eliminate the negative fund balance for fiscal year
2004-05 and to finance maintenance activities in the Flood Control Zone; and
I hereby certify that this is,a true and correct copy of an
action taken and entered on the minutes of the Board of
Supervisors on the date shown.
GC:cw
G:\GrpData\F1dCtl Board orders 2005 onward ATTESTED:
\2065 Resoludons\Reso RFI:FCZ9 9-13-05.doc
orig.Dept.:Public Works(Flood Control) JOHN SWEI✓TEN,Clerk of the Board of Supervisors and
Contact:Greg Connaughton(925)3132271 County Administrator
cc: County Administrator
County Counsel
Auditor/Controller
Linda Martinez.Public Works(Flood Control) By '
Deputy
RESOLUTION NO. 2005/ ���
SUBJECT: Approving Deposit by the District to the Flood Control Revolving Fund and Approving
Loan from the Fund to Flood Control Zone 9,Pinole area.;(District H).
DATE: September 13,2005
PAGE: 2 of 2
WHEREAS said loan shall be repaid to the depositing entities within five to ten years from the date of
disbursement from the fund from monies available to said entity through the sale of Flood Control Zone 9 real
property assets and proposed property assessments. Repayment shall include interest on the unpaid balance at
4.875 percent per annum,which is the current rate received on similar types of investments by Contra Costa
County as determined by the County Treasurer.
NOW THEREFORE BE IT RESOLVED, as the Governing Board of Contra Costa County Flood
Control and Water Conservation District,that said deposits and loans are approved,and authorize and direct
the Public Works Department and the Auditor—Controller to process the transactions for the 2004-05closing.