HomeMy WebLinkAboutMINUTES - 04261994 - 1.16 0 •
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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 April 26, 1994 by the following vote:
AYES: Supervisors Smith, Bishop, DeSaulnier, Torlakson and Powers
NOES: :None
ABSENT: Nona
ABSTAIN: None . RESOLUTION NO. 94/242
SUBJECT: APPROVE DEPOSITS BY DRAINAGE AREAS 16, 29C, 30B, 33A, 67, ZONE 3B
AND DISTRICT TO THE FLOOD CONTROL REVOLVING FUND AND LOANS FROM
THE FUND TO DRAINAGE AREAS 30A, 48B, 76, AND 105, COUNTYWIDE.
WHEREAS the following entities have amounts of funds that are temporarily not needed
and are available for deposit into the Flood Control District Revolving Fund:
Drainage Area 16 (2583) $50,000
Drainage Area 29C (2555) 115,000
Drainage Area 308 (2546) 45,000
Drainage Area 33A (2535) 79,000
Drainage Area 67 (2539) 30,000
Flood Control Zone 3B (2520) 648,000
Flood Control District (2505) 215.000
Total: $1,182,000
WHEREAS the following entities need loans in the amount indicated:
Drainage Area 30A (2557) 270,000
Drainage Area 48B (2574) 174,000
Drainage Area 76 (2542) 440,000
Drainage Area 105 (2590) 300.000
Total: $1,182,000
WHEREAS Revolving Fund loans are needed to refinance. existing loans to Drainage
Areas 30A and 4813; and
WHEREAS a Revolving Fund loan is required for Drainage Area 76 to construct the
Miranda Creek Bypass project; and
WHEREAS a Revolving Fund loan is required for Drainage Area 105 to construct the
Deer Creek Basin and primary spillway; 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 5.84
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 REVOLVED, as the Governing Board of Contra Costa County
Flood Control and Water Conservation District, that said deposits and loans are approved.
Contact Person: Milton Kubicek (510) 313-2203
M F K:lv I hereby cortlfy that this is a true and correct copy of
C:bo\26.t4 an action taken and entered on the minutes of the
Board of suIF,
the date shown.
Orig. Dept.: Public Works (AD) ATTESTED:
ard
cc: County Administrator of Supe �ainty Adrk of ministrator
County
County Counsel
Auditor-Controller By / ,Deputy
PW-Accounting
PW Flood Control
RESOLUTION NO. 94/242