HomeMy WebLinkAboutMINUTES - 11081988 - 1.4 (2) 1-040
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: November 8, 1988
SUBJECT: Amendment to California Department of Transportation
Division of Aeronautics' Loan Application Approved on
October 4, 1988
Specific Re est(s) or Recommendation(s) & Background &
Justification
I . RECO NDATION
APPROVIIE amendment to loan application previously approved by
the Bbard of Supervisors on October 4, 1988 to revise
repayment schedule from 25 years to 20 years as required by
California Department of Transportation Division of
Aeronautics .
II . FINANCIAL IMPACT
Loan is based upon most current State bond rate at the time
the loan is processed and is amortized over 20 years instead
of 25 years as with previous loans .
III . REASONS FOR RECOMMENDATION/BACKGROUND
Public Works Department was recently informed that the
repayment schedule has been changed from 25 years to 20
years.
Cont'd on attachment: yes Signature:
Recommendation of County Administrator
Recomme dation of Board Committee
Approve Other:
Signature(s) :
Action of Bo rd on:— NOV 8 1989
Approved as ecommended__)t, _ Other
Vote of Supervisors: I HEREBY CERTIFY THAT THIS IS A
TRUE AND CORRECT COPY OF AN
Unanimoup (Absent ) ACTION TAKEN AND ENTERED ON THE
Ayes Noes MINUTES OF THE BOARD OF
Absent Abstain SUPERVISORS ON DATE SHOWN.
Orig. Div. : Public Works (AP) Attested NOV 8 1988
cc: County dministrator Phil Batchelor, Clerk
County Counsel of the Board of Supervisors
Auditor� Controller and County Administrator
P.W. Accounting (via BFA)
FAA (vi BFA)
By
aeroapp8 .tll Deputy Clerk
dg