HomeMy WebLinkAboutRESOLUTIONS - 01012001 - 2001-323 THE BOARD OF SUi-ERVISORS OF CONTRA COSTA (,JUNTY, CALIFORNIA
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND WATER CONSERVATION DISTRICT OL- lg
Adopted this Order on July 17, 2001 by the following vote:
AYES: SUPERVISORS GIOIA, DESAULNIER, GLOVER, GERBER AND UILKEMA
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE RESOLUTION NO. 2001/323
SUBJECT: Approve Deposit by the District to the Flood Control Revolving Fund and Loans
from the Fund to Drainage Area 29G, 29H, 30A, 57, 104, and 105 Countywide.
WHEREAS the following entity has funds that are temporarily not needed and are available for deposit
into the Flood Control District Revolving Fund:
Flood Control District (2505) $300,000
WHEREAS the following entities need loans in the amounts indicated:
Drainage Area 29G (2568) $10,000 Drainage Area 57 (2538) $30,000
Drainage Area 29H (2569) $20,000 Drainage Area 104 (2589) $190,000
Drainage Area 30A (2557) $25,000 Drainage Area 105 (2590) $25,000
TOTAL $300,000
WHEREAS the Revolving Fund loan is needed to eliminate negative fund balances for Drainage Area
29G and 29H, refinance existing losses for Drainage Areas 30 and 57, and eliminate negative fund
balances for Drainage Area 104 and 105 resulting from the purchase of basin rights-of-way 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 entity through drainage fee revenue.
Repayment shall include interest on the unpaid balance at 5.25 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 loans are approved.
MFK:cjd
G:\GrpData\FldCtl\Administration\Board Orders\2001 BO\DA30C Brentwod 6-19-01.doc I hereby certify that this is a true and correct
Orig.Dept.: Public Works(Flood Control) copy of an action taken and entered on the
Contact Person: Dean Eckerson(313-2271 minutes of the Board of Supervisors on the
cc: County Administrator date shown.
County Counsel
Auditor/Controller ATTESTED: JULY 17, 2001
PW Accounting JOHN SWEETEN, Clerk of the Board
PW Flood Control of Supervisors and County Administrator
B ,Deputy
RESOLUTION NO. 2001/323