HomeMy WebLinkAboutord1997-073WHATCON COUNTY COUNCIL AGENDA BILL
No. 97 -384
CLEARANCES
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Date
Date Received in Council Office:
Agenda date
Assigned to:
Ori inator: Executive
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/18/97
Introduction
Division Head:
12/9/97
Finance / Council
Dept. Head:
Prosecutor:
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Purchasing/Budget:
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Executive:
SUBJECT:
AN ORDINANCE AMENDING ORDINANCE 93 -033 AUTHORIZING EXCESS CASH IN CERTAIN FUNDS
TO BENEFIT THE SAME
ATTACHMENTS:
Ordinance
SUMMARY STATEMENT.
Please complete sections of box as appropriate & explain the item below.
Related Coun contract #: Should Clerk schedule a hearin ? NO /X_/ YES /_/ R uested date:
This ordinance amends Ordinance 93 -033 by making the following changes to the list of funds that are allowed to
have excess cash invested to their own benefit:
(1) Delete the N.W. WA Fair Fund (closed fund)
(2) Delete the Tort Claims Self Insurance Fund and the Self Insurance /Fringe Benefits Fund (both have been
consolidated into the. Administrative Services Fund)
(3) Add the Flood Control Zone District Fund
ORIGINATOR'S RECOMMENDED ACTION.
Pass
COMMITTEE ACTION TAKEN.
I-nirnVr». ACTION TAKEN:
1997-384 11/18/97: Introduced
12/9/97: Adopted 7 - 0. Ord. #97 -073
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SPONSORED BY: Consent
PROPOSED BY: Executive
INTRODUCTION DATE: 11/18/97
ORDINANCE NO. 97 -073
AN ORDINANCE AMENDING ORDINANCE 93 -033
AUTHORIZING EXCESS CASH IN CERTAIN FUNDS TO BENEFIT THE SAME
WHEREAS, it has been determined that only certain County funds may have their excess
cash invested to the benefit of the respective fund; and,
WHEREAS, interest earnings on excess cash represent the third largest source of revenue for
the Current Expense Fund; and,
WHEREAS, certain funds have been closed or consolidated into other funds; and,
WHEREAS, it is the Council's desire to have the Flood Control Zone District Fund's excess
cash invested to its own benefit; and,
WHEREAS, it is necessary to clarify which funds can have excess cash invested for their
own benefit.
NOW, THEREFORE, BE IT ORDAINED by the Whatcom County Council that
Ordinance 93 -033 is amended as follows:
The County Treasurer is hereby authorized to invest excess cash from the following funds for
their own benefit:
Fund #
Fund Description
Page 1
Manager
P.W. Director
Treasurer
Treasurer
P.W. Director
P.W. Director
180
Lake Management District No. 1 Fund
202
RID Debt Service Fund
190
Road Improvement Districts Fund
325
Sewer Construction Fund
401
Solid Waste Management Fund
Page 1
Manager
P.W. Director
Treasurer
Treasurer
P.W. Director
P.W. Director
ADOPTED this 9 day of December ,.1997.
ATTEST:
Dana Brown- Davis, Count "Clerk
APPROVED AS TO FORM:
Civil Deputy Prose t r
WHATCOM COUNTY COUNCIL
WHATCOM COUNTY, WASHINGTON
/,-/- d, -
L. Ward Nelson, Ch it
( Approved () Denied
Pete Kremen, Executive
Date: A —//— �re7
Page 2