HomeMy WebLinkAboutMINUTES - 08111987 - 1.1 (2) TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: August 11 , 1987
SUBJECT: Approve the Transfer of Funds from Drainage Areas 44B, 48B, 48C and 56 to the Flood
Control District Revolving Fund and a Loan From Said Fund to Drainage Area 73,
Countywide - Project No. 7567-6D8632
Specific Requests or Recommendations & Background & Justification
RECD_ "'Eh"DED ACT-1 U-11:
1. Approve, as the Governing Body of the Contra Costa County Flood Control and Water
Conservation District, the following transfers from the Drainage Area indicated to the
Flood Control District Revolving Fund:
Drainage Area 44B $120,000
Drainage Area 48B 100,000
Drainage Area 48C 130,000
Drainage Area 56 100,000-- - -- — - ——
Total 450,000
2. Approve a loan in the amount of $450,000 from said fund to Drainage Area 73 for purchase
of rights of way for the San Pablo Creeks Project.
E..
FINANCIAL IMPACT•
Said loan shall be repaid to the Fund from Drainage Area 73 within six months from the date
of disbursement from the fund , from monies available from the State Department of Water
1, Resources. The repayment shall include interest on the unpaid balance, at 6.8 percent per
annum, which is the current rate received on similar types of investments by Contra Costa
County as determined by the County Treasurer.
REASONS FOR RECOMMENDATION/BACKGROUND:
The proposed loans are necessary to finance the acquisition of rights-of-way required for
the San Pablo Creek Corp of Engineers Project pending receipt of reimbursements due from
the State Department of Water Resources.
CONSEQUENCES OF NEGATIVE ACTION:
Continued on attachment: _ yes Signature:
_ Recommendation of County Administrator Recommendation of Board Committee
Approve Other:
Signature(s):
Action of Board on: AUG 111987 Approved as Recommended Other
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
X Unanimous (Absent ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN.
Absent: Abstain:
Attested AUG 111987
Orig. Div.: Public Works , (FC) Phil Batchelor
cc: County Administrator Clerk of the Board of
Auditor-Controller Supervisors and County
County Counsel Administrator
Public Works:
Accounting
MFK:md By �2�d�te� L46 , DEPUTY
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