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THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on December 20, 1988 by the following vote:
AYES: Supervisors Powers , Fanden, ,Torlakson and Schroder
NOES: None
ABSENT: Supervisor McPeak
ABSTAIN: None
RESOLUTION NO.88/780
SUBJECT: APPROVE Deposit by Flood Control Zone 3B and District
to the Flood Control Revolving Fund and Loans from the
Fund to Drainage Areas 13 , 29E, 30A, 56 and Zone 7 ,
Countywide.
WHEREAS the following entities have an amount of funds that
are temporarily not needed and are available for deposit into the
Flood Control District Revolving Fund:
Flood Control Zone 3B $555, 000
Flood Control District 350, 000
Total $905, 000
WHEREAS the following entities need a loan in the amount
indicated:
Drainage Area 13 $ 10, 000
Drainage Area 29E 25, 000
Drainage Area 30A 60, 000
Drainage Area 56 160, 000
Flood Control Zone 7 650, 000
Total $905, 000
WHEREAS Revolving Fund loans are required for Drainage Area
13 for refinancing a portion of its existing loans, Drainage
Areas 29E and 30A for payment of topsoil placement costs at
existing detention basins, Drainage Area 56 for financing a
portion of the $1, 260, 000 Lindsey Channel Project costs, and
Flood Control Zone 7 for refinancing a previously authorized
loan, and
WHEREAS said loan shall be repaid to the depositing entities
within three years from the date of disbursement from the fund
from monies available to said entities through drainage fees, and
the repayments shall include interest on the unpaid balance, at
8 . 98% 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.
(4 affirmative votes required)
I hereby certify that 'his is a true and correct cony of /
an action taken and entered on the minutes of the
originator: Public Works (FC) Board of Supervisors on-the date shown.
cc: County Administrator ATTESTED, DEC 20 1988
County Counsel PHIL BATCHF.LOR, Clerk of the Board
Auditor/Controller of Supervisors and County Administrator
Public Works Director
Flood Control Engineering By , Deputy
Accounting
MFK:md
BO. 20.tl2
RESOLUTION NO. 88/780