HomeMy WebLinkAboutMINUTES - 07251995 - C7 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND WATER CONSERVATION DISTRICT
Adopted this Order on July 25, 1995 by the following vote:
AYES: Supervisors Rogers, Smith, DeSaulnier, Torlakson, Bishop
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO. 95/331
SUBJECT: Approve Deposit by the District to the Flood Control Revolving Fund
and a Loan from the Fund to Drainage Area 30A, Oakley area.
WHEREAS the following entity has funds that are temporarily not needed and are available
for deposit into the Flood Control District Revolving Fund:
Flood Control District (2505) $350,000
WHEREAS the following entity needs a loan in the amount indicated:
Drainage Area 30A (2557) $350,000
WHEREAS a Revolving Fund loan is needed to complete basin modifications to the Laurel
Road Basin in Drainage Area 30A to expand its use for recreation; and
WHEREAS said loan shall be repaid to the depositing entity within four years from the date
of disbursement from the fund from monies available to said entity through drainage fees.
Repayment shall include interest on the unpaid balance at 5.74 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 REVOLVED, as the Governing Board of Contra Costa County
Flood Control and Water Conservation District, that said deposit and loan are approved.
i riereby 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.
ATTESTED:
PHIL BA HEM R,Clerk f the Board
of Supervisors and County Administrator
Deputy
Orig. Dept: Public Works(Admin)
Contact Person: M. Kubicek(313-2203)
MFK:drg
g\admin\rnilt:bo25.t7
Orig.Dept.:Public Works(AD)
cc: County Administrator
County Counsel
Auditor-Controller
kW-Accounting
W--Flood Control
Corps of Engineers
North Richmond Redevelopment Agency
RESOLUTION NO. 95/331