HomeMy WebLinkAboutMINUTES - 02122008 - C.9 ~ � Contra
TO: BOARD OF SUPERVISORS = =`
FROM: MAURICE M. SHIU, PUBLIC WORKS DIRECTORs Costa
DATE: February 12, 2008 County
SUBJECT: APPROVE the schedule for loan to Contra Costa County Sanitation District No. 5, Port Costa and
DIRECT County Auditor-Controller to disburse loaned funds from the revolving fund to Contra Costa
County Sanitation District No. 5, Port Costa area. (Sanitation District No. 5 Funds) (District II)
Project No.: 7380-6X9E49
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDED ACTION:
1. APPROVE amortization schedule for a$485,000 loan to Contra Costa County Sanitation District No.5,Port
Costa from revolving fund as directed and established by Resolution No. 2007/374 previously adopted by the
Board of Supervisors on July 24, 2007.
2. DIRECT County Auditor-Controller to disburse loaned funds from the revolving fund to Contra Costa County
Sanitation District No. 5 for treatment facility upgrades.
CONTINUED ON ATTACHMENT: ❑x SIGNATURE: �—
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENHATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S): IZ� 4�'Jrt�
ACTION OF BOJD N f(&7wowr y I.Z ,20 tV f� APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS: I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
A� COPY OF AN ACTION TAKEN AND ENTERED ON
UNANIMOUS(ABSENT A/4111 j(/ ) MINUTES OF THE BOARD OF SUPERVISORS ON THE
AYES: NOES: DATE SHOWN.
ABSENT: ABSTAIN:
Contact: : Gary Huisingh(925)313-2257
GH:vz
C:\Documents and Settings\vzayas\Desktop\2-12-07 SDS 2nd loan ammortization ATTESTED
approval.doc JOHN CULLEN,CU&K OF THE BOARD OF
SUPERVISORS AND COUNTY ADMINISTRATOR
cc Julie Bueren,Public Works
Brian Balbas,Public Works
David Schmidt,County Counsel
BY: ,DEPUTY
'SUBJECT: APPROVE amortization schedule for a$485,000 loan to Contra Costa County Sanitation District
No. 5, Port Costa from revolving fund as directed and established by Resolution No. 2007/374
previously adopted by the Board of Supervisors on July 24, 2007; DIRECT County Auditor-
Controller to disburse loaned funds from the revolving fund to Contra Costa County Sanitation
District No. 5, Port Costa area. (Sanitation District No. 5 Funds) (District II)
DATE: February 12, 2008
PAGE: 2 of 2
FINANCIAL IMPACT:
Contra Costa County Sanitation District No. 5,received a$485,000 loan from the County to complete the California
Regional Water Quality Control Board (RWQCB) Time Scheduled Order (TSO) dated October 19, 2005, which
mandates improvements to bring the treatment facility into compliance by November 30, 2007.
Government Code Section 23014 authorized the County to appropriate up to $500,000 to a revolving fund to be
used by the Contra Costa County Sanitation District No. 5 for improvements and engineering services. The
Board of Supervisors approved Resolution No. 2007/374 on July 24, 2007 specifying the method by and the
time within which the revolving fund (i.e., County)will be reimbursed. The loan will be repaid over a period of
no more than 10 years, with payment in full no later than July 24, 2017.
REASONS FOR RECOMMENDATIONS AND BACKGROUND:
The RWQCB identified certain violations in the effluent from the treatment plant between 2001 and 2003. A fine of
$57,000 was proposed by the RWQCB which was subsequently waived in exchange for that sum of money being
applied toward upgrades to the treatment plant which would provide a more reliable quality effluent. A Time
Schedule Order(TSO)was issued by the RWQCB on October 19,2005 mandating the treatment plant upgrades be
completed by November 30, 2007. The total project cost to upgrade the treatment plan is $1,085,000 with
contingencies. An initial loan for$550,000 was secured in 2006, and this $485,000 loan from the revolving fund
helped fill the funding gap.
On July 10, 2007, the Board of Supervisors approved the concept of establishing a revolving fund pursuant to
Government Code Section 23014 for the purpose of making the loan to Contra Costa County Sanitation District No.
5, Port Costa and directed the Public Works Director and the County Administrator to prepare an appropriate
resolution and agreement establishing the revolving fund providing for reimbursement to the County in compliance
with Government Code Section 23014. Resolution No. 2007/374 was place on the Board's July 24,2007 agenda
and subsequently adopted. The action requested today simply details the repayment procedures of the loan by
approving the amortization schedule and directing the auditor-controller to transfer the money from the revolving
fund to Contra Costa County Sanitation District No. 5.
CONSEQUENCES OF NEGATIVE ACTION:
The construction contract for the treatment plant upgrades and the RWQCB-mandated improvements have already
been completed as outlined in the TSO dated October 19, 2005. A negative action would adversely affect
reimbursement to the County as repayment to the revolving fund would be delayed.
Contra Costa County
Sanitation District 5
Amortization Schedule
Principal
Payment Date Principal Interest Total Balance
1 January 1, 2009 18,986.36 12,125.00 31,111.36 466,013.64
2 July 1, 2009 19,461.02 11,650.34 31,111.36 446,552.62
3 January 1, 2010 19,947.54 11,163.82 31,111.36 426,605.08
4 July 1, 2010 20,446.23 10,665.13 31,111.36 406,158.85
5 January 1, 2011 20,957.39 10,153.97 31,111.36 385,201.46
6 July 1, 2011 21,481.32 9,630.04 31,111.36 363,720.14
7 January 1, 2012 22,018.36 9,093.00 31,111.36 341,701.78
8 July 1, 2012 22,568.82 8,542.54 31,111.36 319,132.96
9 January 1, 2013 23,133.04 7,978.32 31,111.36 295,999.92
10 July 1, 2013 23,711.36 7,400.00 31,111.36 272,288.56
11 January 1, 2014 24,304.15 6,807.21 31,111.36 247,984.41
12 July 1, 2014 24,911.75 6,199.61 31,111.36 223,072.66
13 January 1, 2015 25,534.54 5,576.82 31,111.36 197,538.12
14 July 1, 2015 26,172.91 4,938.45 31,111.36 171,365.21
15 January 1, 2016 26,827.23 4,284.13 31,111.36 144,537.98
16 July 1, 2016 27,497.91 3,613.45 31,111.36 117,040.07
17 January 1, 2017 28,185.36 2,926.00 31,111.36 88,854.71
18 July 1, 2017 28,889.99 2,221.37 31,111.36 59,964.72
19 January 1, 2018 29,612.24 1,499.12 31,111.36 30,352.48
20 July 1, 2018 30,352.48 758.81 31,111.29 0.00