HomeMy WebLinkAboutRESOLUTIONS - 05171988 - 88-285 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on May 17, 1988 by the following vote:
AYES: Supervisors Powers , Fanden, ' Torlakson and Schroder
NOES: None
ABSENT: Supervisor 14cPeak
ABSTAIN: None
RESOLUTION NO. 88/285
SUBJECT: APPROVE Deposits by Drainage Area 55 to the Flood
Control Revolving Fund and a Loan from the Fund to
Drainage Area 56, Antioch.
WHEREAS the following entity has an amount of funds that
are temporarily not needed and are available for deposit into the
Flood Control District Revolving Fund:
Drainage Area 55 $450, 000
WHEREAS - the following entity needs a loan in the amount
indicated:
Drainage Area 56 $450, 000
WHEREAS a Revolving Fund loan to Drainage Area 56 is
required to fund the Lindsey Channel Project in Antioch, and
WHEREAS said loan shall be repaid to the depositing entity
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 7 . 5%
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 deposit and loan are approved.
(4 Affirmative Votes Required) 1 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 dMe
pshown.
ATTESTED: MAY 17 198a
PHIL 3ATCHELCR,Cierk of the Board
of Supervtcors and County Adminf.trator
Originator: Public Works (FC) _ '
cc: County Administrator By �''�- ` �� 'Deputy
County Counsel
Auditor/Controller
Public Works Director
Flood Control Engineering
Accounting
MFK:md
BO: 5.t2
RESOLUTION NO . 88/285