HomeMy WebLinkAboutMINUTES - 05131997 - C10 C.�o
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 13, 1997, by the following vote:
AYES: Supervisors Rogers, Uilkema, Gerber, Canciamilla, DeSaulnier
NOES: None
ABSENT: None
ABSTAIN. None RESOLUTION NO. 971 242
SUBJECT: Approve Deposit by Drainage Area 101A and 520 to the Flood Control
Revolving Fund and Loans to Drainage Areas 29D and 52D, 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 101A (2581) $150,000
Drainage Area 520 (2577) 40,000
$190,000
WHEREAS the following entities need loans in the amounts indicated:
Drainage Area 29D (2556) $130,000
Drainage Area 52D (2584) 60,000
$190,000
WHEREAS Revolving Fund loans are needed to eliminate negative cash balances and
refinance existing Revolving Fund loans in Drainage Areas 29D, 52D; and
WHEREAS said loans shall be repaid to the depositing entities within four years from the
date of disbursement from the fund from monies available to said entities through drainage
fees. Repayment shall include interest on the unpaid balance at 6.6 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.
Orig. Dept.: Public Works(AD)
Contact Person: M. Kubicek(313-2203)
1 hereby certify,that this Is a true and correct copy of
MFK:rs an action taken and entered on the minutes o the
g:�admiMmiltVes13.t5 Board of Supe on the date show .
ATTESTED:
cc: County Administrator PHIL BAT oa,cie of the board
ty of SupsrAsoft4nd County Administrate
County Counsel '
Auditor-Controllerb
PW-Accounting
PW-Flood Control
RESOLUTION NO. 97/242