HomeMy WebLinkAboutMINUTES - 06071988 - 1.2 (2) THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on June 7. 1988 by the following
vote:
AYES: Supervisors Powers , Fanden, McPeak, Torlakson & Schroder
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO.88/322
SUBJECT: Approve a Loan from the Service Area Revolving Fund to
Service Area M-25.
WHEREAS Government Code section 25210.9c authorizes the
appropriation of moneys to a revolving fund to be used for the
acquisition of real or personal property, engineering services,
salaries, wages, services, supplies, . or the construction of
structures or improvements needed in whole or in part to provide
one or more extended services to a County service area;
WHEREAS County Service Area M-25 has applied for and expects
to receive a Safe Drinking Water Grant for the purpose of
designing and constructing necessary improvements to the
Knightsen water system; and
WHEREAS, to avoid delay in the design and construction of
the above-described improvements, County Service Area M-25 needs
a loan of $43, 000 from the revolving fund, which loan would be
repaid from the grant funds and other moneys available to County
Service Area M-25;
NOW, THEREFORE, the Board RESOLVES as follows:
A loan of $43, 000 shall be made from the revolving fund to
County Service Area M-25 for the purposes specified above.
The loan shall be repaid to the revolving fund by County
Service Area M-25 within four years of the date .of disbursement
from the revolving fund. Repayment shall be made from the grant
funds, service fees, connection charges, tax revenues and other
moneys available to County Service Area M-25, and shall include
interest on the unpaid balance at the current. rate .per year
received on similar types of investment by the County as
determined by the County Treasurer.
(4 Affirmative Votes Required) I hereby cedify that this is a true and correct copy of
an action taken and entered on the minutes of the
Board of Supervlsois onrthe date shown.
t
ATTESTED: JUN l 1988
PHIL BATCHELOR,Clerk of the Board
of Supervisors and County Administrator
Originator: Public Works (ES) _��5 _,lL-
cc: County Administrator By ,Deputy
County Counsel
Auditor/Controller
Public Works - Accounting
Engineering Services
Service Area M-25
EJS/fc
m25:resol.t5
RESOLUTION NO. 88/322