HomeMy WebLinkAboutMINUTES - 03191991 - 1.22 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY,
AS THE GOVERNING BODY OF THE CONTRA COSTA COUNTY
FLOOD CONTROL AND WATER CONSERVATION DISTRICT
Adopted this Order on MARCH 19, 1991 by the following vote:
AYES: Supervisors Fanden, Schroder, McPeak, Torlakson and Powers
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO. 91/166
SUBJECT: APPROVE DEPOSITS BY FLOOD CONTROL DRAINAGE AREAS 44B AND
128 TO THE FLOOD CONTROL REVOLVING FUND AND A LOAN FROM
THE FUND TO DRAINAGE AREA 105, COUNTYWIDE
WHEREAS the following entities have funds that are temporarily not needed and are
available for deposit into the Flood Control District Revolving Fund:
Drainage Area 44B $90,000
Drainage Area 128 50,000
TOTAL: $140,000
WHEREAS the following entity needs a loan in the amount indicated:
Drainage Area 105 $140,000
WHEREAS a Revolving Fund loan to Drainage Area 105 is required to help fund the
purchase of the Deer Valley Creek detention basin site west of Fairview Avenue at Dainty
Road in Brentwood; and
WHEREAS said loan shall be repaid to the depositing entities within two years from the
date of disbursement from the fund from monies available to said entity through drainage
fees and the repayments shall include interest on the unpaid balance, at 71/4 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 deposits and loan are approved.
I hereby certify that this Is a true and correct copy of
an action taken and entered on the minutes of the
Board of Supervisors on the dateATTESTED: MAR 1 9 shown.own.
ly
Orig. Dept.: Public Works (FC) PHIL BATCHELOR,Clerk of the Board
cc: County Administrator of Supervisors and Co my Administrator
County Counsel
Auditor-Controller By .Deputy
Public Works Director
PW - Flood Control
MFK:ly
A:B0119.t3
RESOLUTION NO. 91/166