HomeMy WebLinkAboutMINUTES - 09251990 - 1.16 TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: SEPTEMBER 25, 1990
SUBJECT: CALIFORNIA DEPARTMENT OF TRANSPORTATION DIVISION OF AERONAUTICS LOAN
APPLICATION IN THE AMOUNT OF $346,000 FOR BYRON AIRPORT DEVELOPMENT
SPECWIC REQUESTS)OR RECONIIIl MAnON(S)&BACKGROUND AND JUSnRCA'NON
1. Recommended Action:
AUTHORIZE the Public Works Director to apply to the California Department of Transportation
Division of Aeronautics to borrow the sum of $346,000, which is the local share for the Byron
Airport Federal Development Grant (AIP 3-06-0008-04); and
AUTHORIZE the Public Works Director to sign the Loan Agreement.
111. Financial Impact:
Repayment is based on a twenty year repayment schedule with the first payment due one,year
from date loan is granted. The interest rate is the most current State of Calfornia Bond Rate as
of the date of the loan.
II1. Reasons for Recommendations and Background:
The Board of the Supervisors approved FAA Grant application in the amount of $7,020,000 on
June 3, 1986. The purpose of this loan is to cover the Airport's local share of this phase of the
project ($346,000). The revenue generated into the State Aeronautics Fund by this loan
program increases the fund for future State Aeronautics development programs.
Continued on Attachment: SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON SEP 2 5 199�_ APPROVED AS RECOMMENDED_.XOTHER
VOTE OF SUPERVISORS
UNANIMOUS (ABSENT )
AYES: NOES:
ABSENT: ABSTAIN: I hereby certify that this is a true and correct copy of
an action taken ano entered on the minuten of the
HEW:dg Board of Supervisoors on the date shown.
c:\wp51\doc\bo\aeroapp.bo ATTESTEDPH: SEP 2 .) 990
IL BATCHELOR,Cleerk of the Board
of Supervisors and Co htv Administrator
Orig Div:Airports
cc: County Administrator
Public Works Director
Public Works Accounting
Auditor/Controller
Aviation Advisory Committee
Federal Aviation Administration