REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY FLOOD CONTROL DISTRICT
AND RECORD OF ACTION
March 28, 2023
FROM
BRENDON BIGGS, Chief Flood Control Engineer, Flood Control District
SUBJECT
Title
Application and Agreement for Irrevocable Standby Letter of Credit with Wells Fargo Bank for the Elder Creek Channel Improvement Project in the City of Highland
End
RECOMMENDATION(S)
Recommendation
Acting as the governing body of the San Bernardino County Flood Control District:
1. Approve application for an Irrevocable Standby Letter of Credit with Wells Fargo Bank in favor of the California Department of Fish and Wildlife, in the amount of $499,653, at an administrative cost not-to-exceed $50,000, for the Elder Creek Channel Improvement Project in the City of Highland, for a term of May 1, 2023 through April 30, 2024.
2. Approve Standby Letter of Credit Agreement, including non-standard terms, with Wells Fargo Bank, in the amount of $499,653, at an administrative cost not-to-exceed $50,000, for the Elder Creek Channel Improvement Project in the City of Highland, for a term of May 1, 2023 through April 30, 2024.
(Presenter: Brendon Biggs, Chief Flood Control Engineer, 387-7906)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
Provide for the Safety, Health and Social Service Needs of County Residents.
Pursue County Goals and Objectives by Working with Other Agencies and Stakeholders.
FINANCIAL IMPACT
Approval of this item will not result in the use of Discretionary General Funding (Net County Cost). The San Bernardino County Flood Control District (District) is funded by property tax revenue, fee revenue and other local, state, and federal funding. The proposed Irrevocable Standby Letter of Credit (Letter of Credit) will be funded by property tax revenue. The Letter of Credit, issued by Wells Fargo Bank (Wells Fargo), will be in the amount of $4...
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