HomeMy WebLinkAboutMINUTES - 05251993 - 1.19 TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: May 25, 1993
SUBJECT: CALIFORNIA DEPARTMENT OF TRANSPORTATION DIVISION OF AERONAU-
TICS LOAN APPLICATION IN THE AMOUNT OF$108,399 FOR BUCHANAN FIELD
AIRPORT DEVELOPMENT (AIP #3-06-0050-08 & AIP #3-06-0050-10)
SPECIr1C REQUEST(S) OR RECOMMENDATION(S) &BACKGROUND AND JU.SMICATION
I. Recommended Action:
AUTHORIZE the Public Works Director to apply to the California Department of Transportation
Division of Aeronautics to borrow the sum of $108,399 which is the local share for the Buchanan
Field Airport Federal Development Grants (AIP #3-06-0050-08 & AIP #3-06-0050-10); and
AUTHORIZE the Public Works Director to sign the Loan Agreement.
II. Financial Impact:
Repayment is based on a twenty-year repayment schedule with the first payment due one year from
date loan is granted. The interest rate is the most current State of California Bond Rate as of the
date of the loan.
III. Reasons for Recommendation and Background:
The Board of Supervisors approved FAA Grant applications in the amount of$643,500 (AIP #3-
06-0050-08) on October 8, 1991 and $331,767 (AIP #3-06-0050-10) on February 2, 1993. These
grants are for the purchase of property that is currently in the clear zone for Runway 19R. The
purpose of this loan is to cover the Airport's local share of this project. The revenue generated
into the State Aeronautics Fund by this loan program increases the fund for future State
Aeronautics development programs.
Continued on Attachment: SIGNATURE:
_RECOMMENDATION OF COUN'T'Y ADMINISTRATOR RECOMMENDATION OF IIOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON MAY 9 APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
ZUNANIMOUS (ABSENT )
AYES: NOES:
ABSENT: ABSTAIN: I hereby certify that this is a true and correct copy of
an action taken and enteteid on the minutes of the
JMW:rs Board of Supervisors on the date shown.
c:25.t5 ATTESTED: MAY 2 5 1993
PHIL BATCHELOR,Clerk of the Board
Orig Div: H. Wight (510) 646-5722 of Supervisors and71AI
Administrator
cc: County Administrator Public Works Director By „ ,Deputy
Public Works Accounting
Auditor/Controller
Aviation Advisory Committee
Federal Aviation Administration
State of California-Department of Transportatio