HomeMy WebLinkAboutMINUTES - 11181986 - 1.29 TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, CHIEF ENGINEER
DATE: November 18, 1986
SUBJECT: Approve the Transfer of Funds -from Flood Control Drainage Areas 40A, 73, and
128, to the Flood Control District Revolving Fund and a Loan from Said Fund
to Drainage Area 56, Antioch Area.
Project # 2566-6D8451-86
Specific Requests or Recommendations & Background & Justification
RECOMMENDATION
1. Approve, as the Governing Body of the Contra Costa County Flood Control and Water
Conservation District, the transfer of funds totaling $300,000.00 from the following
entities to the Flood Control District Revolving Fund:
Amount to be
Entity Transferred
Drainage Area 40A $ 110,000
Drainage Area 73 58,000
Drainage Area 128 132 000
Total 300,000
2. Approve a loan of $300,000.00 from said Fund to Drainage Area 56.
FINANCIAL IMPACT
Said loan shall be repaid to the Fund from Drainage Area 56 within 4 years from the
date of disbursement from the fund, from fees, charges, tax revenues or other monies
available to Drainage Area 56, together with interest on the unpaid balance at .6..70 -
percent per annum, which is the current rate received on similar types of investments
y Contra Costa County as determined by the County Treasurer.
BACKGROUND
The proposed loan is necessary to finance the purchase of the right of way (7.1±
acres) for the Trembath Detention Basin, part of the adopted drainage plan for Drainage
Area 56.
Continued on attachment: yes Signature:
Recommendation of County AdministratorR ommendati of Bo Co ttee
Approve Other:
Signature(s):
Action of Board on: N 0 V 1 8 1986 Approved as Recommended Other
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
_y Unanimous (Absent ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN.
Absent: Abstain: _
Attested NOV 18 1986
Orig. Div.: Public Works, Flood Control Phil Batchelor
cc: County Administrator Clerk of the Board of
Auditor-Controller Supervisors and County
County Counsel Administrator
Public Works Director
Flood Control Planning
Accounting ,
By gTy,J,.,a DEPUTY
RSC:sj
B0:18.t10