HomeMy WebLinkAboutMINUTES - 05221990 - 1.9 (2) 1-090
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND WATER CONSERVATION DISTRICT
Adopted this Order on MAY 22, 1990 by the following vote:
AYES: Supervisors Powers, Schroder, McPeak, Torlakson and Fanden
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO.90/329
SUBJECT: APPROVE DEPOSITS BY FLOOD CONTROL ZONE 1 AND DRAINAGE
AREAS 40A, 55, AND 67 TO THE FLOOD CONTROL REVOLVING FUND
AND LOANS FROM THE FUND TO DRAINAGE AREAS 29J AND 73,
COUNTYWIDE
WHEREAS the following entities have funds that are temporarily not needed and are
available for deposit into the Flood Control District Revolving Fund:
Flood Control Zone 1 $ 90,000
Drainage Area 40A 100,000
Drainage Area 55 100,000
Drainage Area 67 100,000
TOTAL: $390,000
WHEREAS the following entities need loans in the amount indicated:
Drainage Area 29J $ 90,000
.Drainage Area 73 300,000
TOTAL: $390,000
WHEREAS a Revolving Fund loan to Drainage Area 29J is required to refinance a
previous loan and to reimburse the District for basin right of way costs; and
WHEREAS a Revolving Fund loan to Drainage Area 73 is required to fund right of way
settlements for the Corps of Engineers Project on San Pablo Creek; and
WHEREAS said loan shall be repaid to the depositing entity within one year from the date
of disbursement from the fund from monies available to said entity through drainage fees
and state subvention monies and the repayments shall include interest on the unpaid
balance, at 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;
NOW THEREFORE BE IT RESOLVED, as the Governing Board of Contra Costa County
Flood Control and Water Conservation District, that said deposit and loan are approved.
Orig. Dept.: Public Works (FC)
cc: County Administrator I hereby certify that this Is a True and correct copy of
County Counsel an action taken and entered on the minutes of the
Board of SupervA �thd9
shown.Auditor-Controller ATTESTEDl621J0
Public Works Director PHIL BATCHELOR,clerk of the Board
PW - Flood Control of Supervisors and County Administrator
nJ Deputy J� .
MFK:Iv
A/BO:22.t6
RESOLUTION NO. 90/329