HomeMy WebLinkAboutMINUTES - 05121992 - 1.7 ` 1-7
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 MAY 12, 1992 by the following vote:
AYES: Stipervisors Powers, Fanden, Schroder, Torlakson and McPeak
NOES: None
ABSENT: None
ABSTAIN: None RESOLUTION NO.92/321
SUBJECT: APPROVE DEPOSITS BY FLOOD CONTROL ZONE 3B AND DRAINAGE
AREAS 56 and 104 TO THE FLOOD CONTROL REVOLVING FUND AND
LOANS FROM THE FUND TO DRAINAGE AREAS .52C, .55, 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 District $333,000
Flood Control Zone 3B 300,000
Drainage Area 56 160,000
Drainage Area 104 100,000
TOTAL: '$893,000
WHEREAS the following entities need loans in the amount indicated:
Drainage Area 52C $100,000
Drainage Area 55 683,000
Drainage Area 73 110,000
TOTAL: $893,000
WHEREAS Revolving Fund loans to Drainage Areas 52C and 73 are required for
refinancing preexisting loans; and
WHEREAS a Revolving Fund loan to Drainage Area 55 is required to fund the
construction of West Antioch Creek improvements; and
WHEREAS said loans shall be repaid to the depositing entities within three years from the
date of disbursement from the fund from monies available to said entities through
drainage fees and the repayments shall:include interest on the unpaid balance, at 5.00
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 loans are
approved.
Orig. Dept.: Public Works (FC) t hereby certify that this is a true and correct copy,z0
:.n action taken and entered on the minutes of the
cc: County Administrator Board of Supervisors on the date sihown,
County Counsel ATTESTED: -MAY-1-2 1992 .,,.„,..
Auditor-Controller PHIL BATCHELOR,Cierk of the hoard
Public Works Director of Supervisors and County Administrator
PW -Flood Control .t'iPL n
MFK:ly By ��,.,u.�. ,0eputy
A:BO\12.t5
RESOLUTION NO.92/321