HomeMy WebLinkAboutMINUTES - 11281995 - C4 i
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: November 28, 1995
SUBJECT: Establish trust fund for the Unocal Corporation's Clean Fuels Project Condition of Approval
for $4.5 million for local road improvements.
SPECIFIC REQUESTS) OR RECOMMENDATIONS) & BACKGROUND AND JUSTIFICATION
I. Recommended Action:
DIRECT the Director of Public Works and Auditor/Controller to establish a trust fund for the
$4.5 million from Unocal Corporation for a Local Transportation Improvement Fund required as
a condition of approval for their Reformulated Gasoline Project. This trust fund shall be specific
for the Local Transportation Improvement Fund and the Treasurer shall continue the investment
of said monies with interest to accrue in the trust fund account.
DIRECT the Director of Public Works to provide quarterly reports to Unocal Corporation on the
status of trust fund activities.
II. Financial Impact:
There is no impact to the General Fund.
III. Reasons for Recommendations and Background:
The conditions of approval for the Unocal Clean Fuels Project require Unocal to contribute $4.5
million for the construction of local transportation improvements in the Rodeo and Crockett areas.
Through a community based process it was determined that the Cummings Skyway Extension
would be the first priority project. On July 25, 1995, the Board of Supervisors adopted a
preliminary expenditure plan for the funds that reflect this priority.
The conditions of approval state that the funds shall be depositedin r t Fund 8192 with the
earned interest accruing to the benefit of the fund. However, be us o e size of the fund and
Continued on Attachment: X SIGNATURE: tv
_RECOMMENDATION OF COUNTY ADMINISTRATOR
_RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON /1-9-9 —199.5 APPROVED AS RECOMMENDED_OTHER_
VOTE OF SUPERVISORS
UNANIMOUS(ABSENT
AYES: NOES:
ABSENT: ABSTAIN:
I hereby certify that this is a true and correct copy of
JRB:eh an action taken and entered on the minutes of the
g:\transeng\B07Unocal.tl 1 Board of Supervisors on the date shown.
ATMSTED:
Orig. Div: Public Works(T/E) PHIL BATCHELOR,Clerk of the Bodrd
Contact: Julie Bueren 313-2342 of Supervisors and County Administrator
cc: Auditor/Controller
Public Works Accounting W 'Deputy
Unocal Corporation
i
Establish trust fund for the Unocal Corporations Clean fuels Project Condition of Approval for
$4.5 million for local road improvements.
November 28, 1995
Page 2
the length of time it will be in effect, the Public Woks Department recommends that a separate
trust fund be established.
IV. Consequences of Negative Action:
If a new trust fund is not established for the funds, Trust Fund 8192 will be used. However,
because of the size of the fund and length of time it will be in effect, it is more desirable to have
a separate fund.