HomeMy WebLinkAboutMINUTES - 03121985 - 2.3 a.3
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: March 12, 1985
SUBJECT: Approve the Transfer of Funds from the Flood Control District to the Flood Control
District Revolving Fund and a Loan from Said Fund to Drainage Area 30C, Brentwood
Area.
Specific Request(s) or Recommendation(s) b Background & Justification
RECONMFNDATTON
1. Approve, as the Governing Body of the Contra Costa County Flood Control and Water
Conservation District, a transfer of $280,000 from the District to the Flood Control District
Revolving Fund.
2. Approve a loan of $280,000 from said fund to Drainage Area 30C. Said loan shall be
repaid to the fund from Drainage Area 30C within eight years from the date of disbursement
from the fund, from fees, charges, tax revenues or other monies available to Drainage Area
30C, together with interest on the unpaid balance at 11.8 percent per annum, which is the
current rate received on similar types of investments by Contra Costa County as determined
by the County Treasurer.
BACKGROUND
The proposed loan is necessary to finance the construction of a storm drain along Lone Tree
Way to eliminate the existing roadside ditch.
Continued on attachment: yes Signatu
ecommen a ion of County inis ra or ecommen a 0 rprLommittee
Approve Other:
Signature(s):
Action of Board on: Approved as Recommended k"Other
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
Unanimous (Absent ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN.
Absent: Abstain:
Attested
Orig. Div.: PW, Flood Control Phil Batchelor
cc: County Administrator Clerk of the Board of
Auditor-Controller Supervisors and County
County Counsel Administrator
Public Works Director
Flood Control Planning
Accounting
By �( DEPUTY
bb.30c.funds.t3