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HomeMy WebLinkAboutMINUTES - 08051997 - C16 1 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 August 5, 1997 by the following vote: AYES: Supervisor Rogers, Gerber, Canciamilla, DeSaulnier NOES: None ABSENT: Supervisor Uilkema ABSTAIN: None RESOLUTION NO. 97/420 SUBJECT: Approve Deposit by Flood Control and Water Conservation District to the Flood Control Revolving Fund and a Loan from the Fund to Drainage Area 30A Countywide. 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) $120,000 WHEREAS the following entity needs a loan in the amount indicated: Drainage Area 30A (2557) $120,000 WHEREAS a Revolving Fund loan is needed to refinance existing Revolving Fund loan from Drainage Area 56. WHEREAS said loan shall be repaid to the depositing entity within two 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 6.0 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 deposits and loans are approved. Orig.Dept.: Public Works(AD) Contact Person: M. Kubicek(313-2203) MFK:drg ladmin\milt:\res8-5.w d p hereby Geake that this Is a true and correct copy of g: p an acteon taken and entered to the minutes of the Board of Supervlsore on the date shown. cc: County Administrator A1'�ESTED County Counsel PHIL DATC LOR,Clerk of the board Auditor-Controller of Supervisors and County Adminlstrator PW-Accounting PW-Flood Control Deputy RESOLUTION NO. 97/420