HomeMy WebLinkAboutMINUTES - 05131986 - 1.42 1_042
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: May 13,-°1986`'
SUBJECT: Approve a Loan from the Flood Control District Revolving Fund to the Flood
Control District.
Specific Requests or Recommendations & Background & Justification
RECOMMENDATION
1. Approve , as the Governing Body of the Contra Costa County Flood Control and Water
Conservation District , a loan of $81 ,000 from the Flood Control District Revolving
Fund to the Flood Control District.
FINANCIAL IMPACT
Said loan shall be repaid to the Fund from the District within 5 years from the date of
disbursement from the fund , from fees , charges , tax revenues or other monies available
to the District , together with interest on the unpaid balance at 72 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 purchase of needed equipment for channel
maintenance.
Continued on attachment: yes Signature:
Recommendation of County Administrator Recomm ation of Board Committee
Approve Other:
Signature(s):
Action of Board on: Approved as Recommended 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: M Abstain:
Attested �h� /3, /f 86
Orig. Div. : Public Works , Flood Control Phil Batc elo
cc: County Administrator Clerk of the Board of
Auditor-Controller Supervisors and County
County Counsel Administrator
Public Works Director
Flood Control Planning
Accounting
By G�Z�2�G%Uv2.P,Gl.B DEPUTY
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