HomeMy WebLinkAboutRESOLUTIONS - 07261988 - 88-471 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY. CALIFORNIA
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND MATER CONSERVATION DISTRICT
Adopted this Resolution on July 26, 1988 by the following vote:
AYES: Supervisors Powers , Fanden, McPeak, Torlakson & Schroder
NOES: None
ABSENT: None
ABSTAIN': None
RESOLUTION NO. 88/471
SUBJECT: APPROVE Deposit by Flood Control Zone 3B to the Flood
Control Revolving Fund and a Loan from the Fund to
Drainage Area 73 , 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 Zone 3B $100, 000
WHEREAS the following entity needs a loan in the amount
indicated:
Drainage Area 73 $100, 000
WHEREAS a Revolving Fund loan to Drainage Area 73 is
required to refinance a previous loan; 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 and
state subvention monies and the repayments shall include interest
on the unpaid balance, at 8% 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 RESOLVED, as the Governing Board of
Contra Costa County Flood Control and Water Conservation
District, . that said deposit and loan are approved.
I hereby certify that this Is a true and correct copy of
an action taken and entered on the minutes of the
Board of St_apervisors on the date shown.
ATTESTED: j u t 2 6 1�9 R
Originator: Public Works (FC) PHIL BATCHELOR, Clerk of tho Board
cc: County Administrator of Supervisors and County Administrator
County Counsel
Auditor/Controller
Public Works Director By 'Deputy
Flood Control Engineering
Accounting
MFK: jeo
BO:26.t7
RESOLUTION NO. 88/471