HomeMy WebLinkAboutMINUTES - 09211993 - 1.8 TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR ,
DATE: SEPTEMBER 21, 1993
SUBJECT: CALIFORNIA DEPARTMENT OF TRANSPORTATION DIVISION OF AERONAU-
TICS LOAN APPLICATION IN THE AMOUNT OF$85,556 FOR BUCHANAN FIELD
AIRPORT AIP #3-06-0050-09
SPECUrIC REQUEST(S)OR RECOMMENDATION(S) &BACKGROUND AND JUSnHCATION
I. Recommended Action:
AUTHORIZE the Public Works Director to apply to the California Department of Transportation
Division of Aeronautics to borrow the sum of $85,556 which is the local share for the Buchanan
Field Airport Federal Development Grant (AIP #3-06-0050-09); and
AUTHORIZE the Public Works Director to sign the Loan Agreement.
II. 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 California Bond Rate as of the
date of the loan.
III. Reasons for Recommendations and Back round:
The Board of Supervisors approved Federal Grant application in an amount up to $1,000,000 on
August 17, 1993. The purpose of this loan is to cover the Airport's local share of this project. 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 APPROVED AS RECOMMENDED V OTHER
VO E OF SUI'ERVISORS
_UNANIMOUS (ABSENT )
AYES: NOES:
ABSENT: ABSTAIN: I hereby certify that this Is a true and correct copy at
an action taken and entered on the minutes of the
HEW:sh Board of Supervisors on the date shown.
C:21.t9 ATTESTED: M_2-1
PHIL BATCHELOR,Clerk of the Board
Orig Div: H. Wight (510) 646-5722 of Supervisors and County Administrator
cc: County Administrator
Public Works Director ey , _ _,Deputy
Public Works Accounting
Auditor/Controller
Aviation Advisory Committee
Federal Aviation Administration