HomeMy WebLinkAboutRESOLUTIONS - 06071988 - 88-328 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on June 7, 1988 by the following vote:
AYES: Supervisors Powers , Fanden, McPeak, Torlakson & Schroder
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION NO. 88/328
SUBJECT: APPROVE Deposits by Drainage Areas 52C and 75A to the
Flood Control Revolving Fund and a Loan from the Fund
to Drainage Area 29H, 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 52C (2571) 20, 000
Drainage Area 75A (2536) 30, 000
Total $50, 000
WHEREAS the following entity needs a loan in the amount
indicated:
Drainage Area 29H (2569) $5.0, 000
A revolving fund loan is required for Drainage Area 29H to
purchase the right of way for Detention Basin 3 , and
WHEREAS said loan shall be repaid to the depositing
entities within five years from the date of disbursement from
the fund from monies available to said entity through drainage
fees, and the repayment shall include interest on the unpaid
balance at. 8 . 5 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 loan are approved.
(4 Affirmative Votes Required) f hereby certify that this is a true and correct copy of
an action taken and entered on the minutes of the
Originator: Public Works (FC) Board of Supervisors on the date shown.
cc: County Administrator ATTESTED: UN 7 1988
County Counsel PHIL BATCHELOR,Clerk of the Board
Auditor/Controller of Supervisors and County Administrator
Public Works Director
Flood Control Engineering '
Accounting 8y ,Deputy
MFK:md
BO: 19.t5
RESOLUTION NO. 88/ 328