HomeMy WebLinkAboutMINUTES - 11101987 - 1.17 TO: BOARD OF SUPERVISORS, AS GOVERNING BOARD OF CONTRA COSTA COUNTY FLOOD CONTROL AND
WATER CONSERVATION DISTRICT 1-17
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: November 3, 1987
SUBJECT: Flood Control Loans to Drainage Area 56, East Antioch Area, Project No. 7566-6D 8462
Specific Request(s) or Recommendations & Background & Justification
RECOMMENDED ACTION:
1 . APPROVE the deposit of funds from the following entities to the Flood Control District
Revolving Fund:
Drainage Area 10 $ 120,000
Drainage Area 22 130,000
Drainage Area 29C 100,000
Flood Control District 200,000
Flood Control Zone 3B 600,000
Total $1 ,150,000
2. APPROVE the loaning of $1,150,000 at an annual rate of 8 percent from the Flood Control
District Revolving fund to Drainage Area 56.
The above loans are anticipated to be repaid within four years.
FINANCIAL IMPACT•
Drainage Area 56 will incur an interest cost which will be transferred to the benefit of
the depositing entities.
REASONS FOR RECOMMENDATION/BACKGROUND:
The loan to Drainage Area 56 will permit the construction of the Lindsey Detention Basin on
East Antioch Creek which is needed to prevent flooding from the new upstream development
and to erase the $500,000 obligation of the County Redevelopment Agency to the Southern
Pacific Transportation Company that is due on December 31, 1987.
CONSEQUENCES OF NEGATIVE ACTION:
The above project will not proceed.
Continued on attachment: yes Signature: '
Recommendation of County Administrator Recommendation .of Board Committee
Approve Other:
Signature(s) :
Action of Board on: N 0 V 10 1987 Approved as Recommended_ Other
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
Unanimous (Absent ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN,
Absent: Abstain: Attested NOV 10 1987
Orig. Div. : Public Works Dept. Phil Bat che or
cc: County Administrator Clerk of the Board of
County Counsel Supervisors and County
County Auditor Controller Administrator
Community Development Dir.
Public Works Dept.
Flood Control Engrg.
Accounting By DEPUTY
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