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HomeMy WebLinkAboutMINUTES - 02271996 - C22 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA cr�A'' AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT Adopted this Order on February 27, 1996 by the following vote: AYES: SUPERVISORS ROGERS, BISHOP, DESAULNIER,. TORLAKSON, SMITH NOES: NONE ABSENT: NONE ABSTAIN: NONE RESOLUTION NO. 96/67 SUBJECT: Approve Deposits by Contra Costa County Flood Control Zone 1 and Drainage Area 52C and 101A to the Flood Control Revolving Fund and a Loan from the Fund to Drainage Area 104, Brentwood area. WHEREAS the following entities have funds that are temporarily not needed and are available for deposit into the Flood Control District Revolving Fund: Flood Control Zone 1 (2521) $237,000 Drainage Area 52B (2549) 63,000 Drainage Area 101A (2581) 250.000 TOTAL $550,000 WHEREAS the following entity needs a loan in the amount indicated: Drainage Area 104 (2589) $550,000 WHEREAS a Revolving Fund loan is needed to fund a portion of the Upper Sand Creek Detention Basin Site acquisition in Drainage Area 104. 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 entities through drainage fees. Repayment shall include interest on the unpaid balance at 5.3 percent 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. I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of SupervFEEBRU FEBRUARY shown. 96 ATTESTED: PHIL BATCHELOR,Clerk of the Board of Supervisors and County Administrator BY GAG.Deputy Orig. Dept. Public Works-Admin Contact Person: (M. Kubicek-313-2203) MFK:drg g:\admin\milt\res27.t2 cc: County Administrator County Counsel Auditor-Controller PW-Accounting PW-Flood Control RESOLUTION NO. 96/67