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HomeMy WebLinkAboutRESOLUTIONS - 05131997 - 97-242 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. 97/ 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 101 A (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) t hereby certty that this Is a true and corretd of of MFK:rs an actlon taken and entered on the minhdea the g:\admin\milt\res13.t5 Board of Supenr on the date shown. A E5_17 ATTESTEM cc: County Administrator of 6 Z = County ot�th n tor County Counsel Auditor-Controller PW-Accounting PW-Flood Control RESOLUTION NO. 97/242