HomeMy WebLinkAboutMINUTES - 02241987 - S.10 5 J0
THE BOARD OF .SUPERVISORS OF CONTRA COSTA COUNTY
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Adopted this Order on February 24 , 1987 by the following vote:
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AYES: Supervisors Powers, Fanden, Schroder, Torlakson, McPeak
NOES: None
ABSENT: None
ABSTAIN: None
SUBJECT: Proposal to Utilize Moral Obligations Bond Technique
to Finance Highway 4/Vasco Road Interim Projects
Supervisor Torlakson commented on the need to develop a
funding mechanism to finance Highway 4/Vasco Road interim
projects. He advised that the Highway 4 Interim Project involves
adding a westbound lane to Highway 4 from West Pittsburg to
Concord. He advised that the City of Pittsburg has proposed
issuing "Moral Obligation Bonds" to fund the proposed improvements
to State Highway 4.
On recommendation of Supervisor Torlakson, IT IS ORDERED that
the Board conceptually APPROVES the Moral Obligation Bond
technique as an option for financing the Highway 4/Vasco Road
interim projects and DECLARES the County' s willingness to join
with the cities in Eastern Contra Costa County to issue Moral
Obligation Bonds for this purpose.
CC: County Administrator
Auditor Controller
1 hereby certify that this b a true andcorrectcopy of
an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED:
PHI tw�:'�Z d': a�?, C4. F. of the Soard
o. and County Administrator
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BY , Deputy
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