HomeMy WebLinkAboutMINUTES - 01231996 - C2 TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: JANUARY 23, 1996
SUBJECT: State Hiighway 4/Bailey Road Interchange
Project No.: 4660-6x4158
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
1. Recommended Action:
AUTHORIZE the Public Works Director to arrange with the Auditor-Controller reimbursement in the
amount of $28,621.14 plus interest from April 17, 1995 to the date of issuance to the Contra Costa
Transportation Authority as repayment for lost interest in connection with the Southern Califomia Water
Company condemnation.
II. Financial Impact:
Payment of$28,621.14, plus interest from the General Fund.
Ill. Reasons for Recommendations and Backclround:
On May 7, 1993, funds from the Contra Costa Transportation Authority were deposited in the
Special Judicial Trust fund for the Southern California Water Company condemnation. An
administrative settlement was reached and the Water Company was paid on July 12, 1994.
Payment was made from the money on deposit with the Judicial trust fund plus Non-Road funds,
which were reimbursed by Contra Costa Transportation Autho om Measure C funds.
Continued on Attachment: X SIGNATOR
_RECOMMENDATION OF COUNTY ADMINISTRATOR
_RECOMMENDATION OF BOARD COMMITTEE
—APPROVE —OTHER
SIGNATURE(S):
ACTION OF BOARD ON JANUARY 23, 1996APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
X UNANIMOUS(ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:.
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Ori . Div: Public Works R/P PHIL BATCHELOR Clerk of the Board
9 ( ) of&APrAws and Lounty Administrator
Contact: Karen McNamer(313-2228) ,
cc: County Administrator �, p n + ( Y-L deputy
Auditor-Controller(via R/P) By
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P.W.Accounting
Recorder(via R/P)
III. Reasons for Recommendations and Background:
During that period, interest totaling $28,621.14 was earned on the money on deposit and
transferred to the County General Fund. This interest should have been included in the final
condemnation award. In order to reconcile the Non-Road funds paid out, the Transportation
Authority was billed and on April 17, 1995, paid the $28,621.14 interest which had accrued.
According to the Independent Accountant's Report prepared by Macias and Company, dated
October 11, 1995, the $28,621.14 is interest earned on Measure C funds and should be applied
to future Measure C projects. In order to comply with the reports recommendation, the general
fund must return the interest earned, plus pay interest on said amount from the date the Authority,.
paid the interest (April 17, 1995), to the date the check is issued.
IV. Consequences of Negative Action:
Funding from Contra Costa Transportation Authority for future projects could be in jeopardy.