HomeMy WebLinkAboutMINUTES - 05031988 - 2.7 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on May 3 , 1988 by the following vote:
AYES: Supervisors Powers , Fanden, McPeak, Torlakson Schroder
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION NO. 88/249
SUBJECT: APPROVE Deposits by Drainage Area 22 , 46, 44B, 48B, 48C
and 56, and District to the Flood Control Revolving
Fund and a Loan from the Fund to Drainage Area 48D and
73 and Zone 7 , Countywide.
WHEREAS the following entities' have amounts of funds that
are temporarily not needed and are available for deposit into the
Flood Control District Revolving Fund:
Drainage Area 22 $136, 000
Drainage Area 46 137, 000
Drainage Area 44B 50, 000
Drainage Area 48B 90, 000
Drainage Area 48C 130, 000
Drainage Area 56 100, 000
Flood Control District 200, 000
Total $843, 000
WHEREAS the following entities need loans in the amounts
indicated:
Drainage Area 48D $ 21, 000
Drainage Area 73 722 , 000
Zone 7 100, 000
Total $843 , 000
WHEREAS a Revolving Fund loans are required for Drainage
Area 48D for reimbursing a developer for replacement of a failed
concrete drainage ditch with an underground storm drain and for
Drainage Area 73 and Flood Control Zone 7 for refinancing
existing revolving fund loans and acquisition of additional
Wildcat-San Pablo Creeks Project rights of way, and
WHEREAS said loans shall be repaid to the depositing
entities within two years from the dates of disbursement from the
fund from monies available to said entities through drainage
fees, and State subventions, and the repayments shall include
interest on the unpaid balance at 8% 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.
(4 Affirmative Votes Required) f hereby certify that this is a true and correct copy of
an action taken and entered on the minutes of the
Board c:Supervisorrss on the date
te shown.
Originator• Public Works (FC)
cc: County Administrator ATTESTED: �aY 3 19oH
Piii3.BATCHELOR, Clerk of the Board
County Counsel of Supervisors and County Administrator
Auditor/Controller
Public Works Director ()� ,
Flood Control Engineering By —_J� ,Deputy
:Accounting
MFK:md
BO: 21.t4
RESOLUTION NO. 88/ 249