HomeMy WebLinkAboutRESOLUTIONS - 01011997 - 1997-242 w
THE BOARD OF SUPr.RVISORS OF CONTRA COSTA D+vJNTY, CALIFORNIA
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND WATER CONSERVATION DISTRICT
Adopted this Order on May 13, 1997, by the following vote:
AYES; Supervisors Rogers, Uilkema, Gerber, Canciamilla, DeSaulnier
NOES None
ABSENT: Nene
ABSTAIN: None RESOLUTION NO. 971 242
SUBJECT: Approve Deposit by Drainage Area 101A and 520 to the Flood Control
Revolving Fund and Loans to Drainage Areas 29D and 52D, Countywide.
WHEREAS the following entities have funds that are temporarily not needed and are
available for deposit into the Flood Control District Revolving Fund:
Drainage Area 101A (2551) $150,000
Drainage Area 5207 (2577) 40.000
$190,000
WHEREAS the following entities need loans in the amounts indicated:
Drainage Area 29D (2555) $130,000
Drainage Area 52D (2554) 60.000
$190,000
WHEREAS Revolving Fund loans are needed to eliminate negative cash balances and
refinance existing Revolving Fund loans in Drainage Areas 29D, 52D, and
WHEREAS said loans 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 6.6 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 REVOLVED, as the Governing Board of Contra Costa County
Flood Control and Water Conservation District, that said deposits and loans are approved.
Orig,Dept.: Public Works(ACI)
Contact Person: M.Kubicek(313-2203)
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RESOLUTION NO. 97/242