HomeMy WebLinkAboutMINUTES - 04091985 - 2.7 , o
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TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: April 9, 1985
SUBJECT: Approve the Transfer of Funds from the Flood Control District, Flood Control
District Zone 3B, and Drainage Area 10 to the Flood Control District Revolving
Fund and a Loan from Said Fund to Drainage Area 48C, West Pittsburg Area.
Specific Requests or Recommendations & Background & Justification
RECOMMENDATION
1. Approve, as the Governing Body of the Contra Costa County Flood Control and Water
Conservation District, the transfer of funds totaling $190,000 from the following
entities to the Flood Control District Revolving Fund:
Amount to be
Entity Transferred
District $ 20,000
Zone 3B 50,000
Drainage Area 10 120,000 (Partial loan repayment to Revolving Fund)
Total 0,000
2. Approve a loan of $190,000 from said Fund to Drainage Area 48C.
FINANCIAL IMPACT
Said loan shall be repaid to the Fund from Drainage Area 48C within five years from the
date of disbursement from the fund, from fees, charges, tax revenues or other monies available
to Drainage Area 48C, together with interest on the unpaid balance at 11 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 system which
will replace an inadequate system in the vicinity of Wha Drive.
Continued on attachment: yes Signature: ?,
Recommendation of County Administrator Recommendation of BodrdCommittee
Approve Other:
Signature(s):
Action of Board on: APR b 1988 Approved as Recorrmended__j,,�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 APR 91985
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
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