HomeMy WebLinkAboutMINUTES - 02021988 - 2.5 2.5
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on February 2, 1988 by the following vote:
AYES: Supervisors Powers, Fanden, McPeak, Torlakson and Schroder
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION NO. 88/61
SUBJECT: APPROVE Deposits by Drainage Area 22 and Flood Control
District to the Flood Control Revolving Fund and a Loan
from the Fund to Drainage Area 48C, Countywide
WHEREAS the following entities have amounts of funds that
are temporarily not needed and are available for deposit into the
Flood Control District Revolving Fund:
Drainage Area 22 $130, 000
Flood Control District 100, 000
Total $230, 000
WHEREAS the following entity needs a loan in the amount
indicated:
Drainage Area 48C $230, 000
WHEREAS a Revolving Fund loan to Drainage Area 48C is
required to fund the Line A Bypass Storm Drain Project, and
WHEREAS said loan shall be repaid to the depositing entities
within four years from the date of disbursement from the fund
from monies available to said entity through drainage fees and
the repayments shall include interest on the unpaid balance, at
8% 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 deposits and loan are approved.
E hereby certify that this is a true and correct copy of
(4 Affirmative Votes Required) an action taken and entered on the minutes of the
Board of GLpervisersthe date shown.
ATTESTED: l y ([—
° PHIL SAT CHER OR, Clerk of the Board
of Supervisors and County Administrator
Originator: Public Works (FC) Deputy
cc: County Administrator
County Counsel
Auditor/Controller
Public Works Director
Flood Control Engineering
Accounting
MFK:md
BO: 2 .t2
RESOLUTION NO. 88/ 61