HomeMy WebLinkAboutord2013-022 WHATCOM COUNTY COUNCIL AGENDA BILL NO. 2013 - 164
CLEARANCES Initial Date Date Received in Council Office Agenda Date Assigned to:
Originator: bb 04/12/13 04/23/13 Intro
Division Head: I L C E TI v IL ID 05/07/13 finance I Council
Dept. Head: �C
opt/ii./i3 APR 15 2013
Prosecutor:
Purchasing/Budget: bb 04/12/13 WHATCOM COUNTY
COUNCIL
Executive: 0 . ...1 h 8 /' 3
TITLE OF DO / 7A4 T:
An Ordinance Authorizing Interfund Loans to Finance Cash Flow for Road Capital Project Budgets
ATTACHMENTS:
Ordinance
SEPA review required? ( ) Yes ( ) NO Should Clerk schedule a hearing? ( ) Yes ( ) NO
SEPA review completed? ( ) Yes ( ) NO Requested Date:
SUMMARY STATEMENT OR LEGAL NOTICE LANGUAGE: (If this item is an ordinance or requires a public
hearing, you must provide the language for use in the required public notice. Be specific and cite RCW or WCC as appropriate. Be
clear in explaining the intent of the action.)
The attached ordinance authorizes the Whatcom County Treasurer for make interfund loans from the County
Road Fund to Road Capital Project Funds for up to $ 1 ,000,000 for terms up to 2 years.
COMMITTEE ACTION: COUNCIL ACTION:
5 / 07 / 2013 : Forwarded to Council for approval 4 / 23 / 2013 : Introduced
5 / 07 / 2013 : Council Amended & Adopted 6-0 ,
Knutzen absent
Ord . 2013-022
Related County Contract #: Related File Numbers: Ordinance or Resolution Number:
Ord . 2013-022
Please Note: Once adopted and signed, ordinances and resolutions are available for viewing and printing on
the County 's website at: www. co. whatcom. wa. us/council.
1 INTRODUCED BY : Consent
2 PROPOSED BY : Executive
3 DATE: April 23 , 2013
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5
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7 ORDINANCE NO. 2013-022
8 AN ORDINANCE AUTHORIZING INTERFUND LOANS
9 TO FINANCE CASH FLOW FOR ROAD CAPITAL PROJECT BUDGETS
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13 WHEREAS, multi-year road capital projects are budgeted in capital project funds to
14 facilitate project accounting and,
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16 WHEREAS, from time to time due to the processing time required to receive grant
17 reimbursements, road capital project funds need a temporary loan for cash-flow purposes ; and,
18
19 WHEREAS, the Road Fund is the appropriate source to provide cash-flow loans for road
20 capital project funds,
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22 NOW, THEREFORE, BE IT ORDAINED by the Whatcom County Council: The
23 Whatcom County Treasurer is hereby authorized to make inter-fund loans from the County Road
24 Fund to Road Capital Project Funds for cash flow purposes . The loans shall not exceed $ 1 ,000,000
25 per project and shall not be for a term exceeding two years . No interest shall be charged on the
26 loans .
27 BE IT FURTHER ORDAINED, A report of all new interfund loans from the County Road
28 Fund will be provided to the County Council annually.
29
i `` ` t ffi l u itif� 'i. S' \ • ' TED. % day of May , 2013 .
32 J . . V A Tco . o.o c .
33 ! ® . o COUNTY 4' . < a WHATCOM COUNTY COUNCIL
34 A ' l' * WHATCOM COUNTY, WASHINGTON
35 s s o ragerneto Wi.""litib 46:17 reCtClta
37 Da l)rownv i� ate
F- .rshner, Council Chair
38 �'',.,, .-- * a \�.\`‘
39 APPROVfsita, tarn : $.Appro - • ( ) Penied
40
41 � �,1.. ianni
42 Daniel Gibson Jack Lou s, Execu ive
43 Chief Civil Deputy Prosecutor Date : .5 /o ; /3