HomeMy WebLinkAboutord1986-0791
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INTRODUCED BY: CONSENT
9 PROPOSED BY: County Executive�,�P"'
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DATE INTRODUCED: _10/16/86
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ORDINANCE NO. 86 -79
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AN ORDINANCE AUTHORIZING THE COUNTY EXECUTIVE TO EXECUTE A LOAN
13 FROM RAINIER NATIONAL BANK (NORTHWEST WASHINGTON COMMERCIAL
BANKING CENTER) IN THE AMOUNT OF $100,000 FOR THE FINANCING OF
14 THE HEATING AND HOT WATER SYSTEM IMPROVEMENTS FOR THE NOR -BELL
NURSING HOME
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WHEREAS, the Department of Public Works of Whatcom County, Washington
16 (the County), has recommended the County undertake certain improvements for
the health, safety and welfare of the occupants of the County nursing home
17 (Nor - Bell); and
18 WHEREAS, the improvements consist of heating and hot water system; and
19 WHEREAS, the cost of replacement of the system is estimated to not exceed
$100,000; and
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WHEREAS, the State of Washington Department of Social and Health
21 Services, Bureau of Nursing Home Affairs, has agreed that the system will be
allowable and thus reimbursable under Medicaid rules in accordance with
22 July 1, 1987 reimbursable rates at 1986 costs;
23 NOW, THEREFORE, BE IT ORDAINED as follows:
24 SECTION 1. Authorization of System Improvements and Note.
25 The County Council hereby finds and declares that the public interest,
safety, benefit and welfare requires the County to make certain improvements
26 and modifications to the County -owned nursing home facility in accordance with
plans and specifications as approved by the Director of Public Works for the
27 Nor -Bell Nursing Home heating and hot water system improvements (the "System
Improvements "). The County Council hereby further authorizes a short term
28 indebtedness of the County in principal amount not to exceed $100,000 to pay
the costs of the System Improvements (the "Loan "), and further authorizes the
29 County Executive to enter into a contract on behalf of the County with Rainier
National Bank for the Loan. Interest rate on the Loan shall not exceed 70
30 percent of Rainier Bank's prime rate, fully floating with interest rate
adjustments on the day of each prime rate change. Loan fees paid to the Bank
31 shall not exceed $500.00. The term of the Loan shall not exceed six months,
commencing not later than November 30, 1986. Repayment of the Loan shall be
32 in the form of a single payment of principal and interest due six months from
the date of the Loan. The Loan shall be evidenced by a note to be executed by
ORDINANCE - 1
Date drafted: 10/7/86
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CMW1977
the County Executive and delivered to the Bank in accordance with their offer
dated October 1, 1986.
Section 2. Receipt and Deposit of Funds.
The proceeds from the Loan shall be deposited in the County Physical
Plant and Facilities Capital Improvement Fund.
Section 3. Payments From the Fund.
The County Executive shall authorize, from the Physical Plant and
Facilities Capital Improvement Fund, payments to the contractor for the System
Improvements, not to exceed $100,000.00.
Section 4. Repayment of Loan.
The Loan shall constitute a general obligation of the County payable from
any legally available funds, including proceeds of limited tax general obliga-
tion bonds of the County. The County shall levy taxes within and as part of
the millage levy permitted to counties without a vote of the people in amounts
sufficient to pay the Loan. The County hereby further designates the Loan as
a "qualified tax exempt obligation" for acquisition by financial institutions
pursuant to Section 902 of the Tax Reform Act of 1986. The County does not
anticipate that it will issue more than $10,000,000 in tax - exempt obligations
during 1986. On or before maturity of the Loan, the County Executive shall
authorize repayment to Rainier National Bank of the total amount due and
payable including principal, interest and loan fees. Repayment may be made
from the Physical Plant and Facilities Capital Improvement Fund, or the
Equipment Rental and Revolving Fund, or, if the County Council determines, all
of the Loan will be paid from the proceeds of limited tax obligation bonds.
Section 5. Application of DSHS Money.
The County Executive is hereby directed to deposit, or cause to be
deposited, funds received annually from the State Department of Social and
Health Services until such time as the total amount of the cost of the System
Improvements, plus interest, is repaid.
Section 6. Effective Date.
This ordinance shall become effective immediately upon its passage,
approval and publication as required by law.
APPROVED this 6th day of November , 1986.
ATT
C erk of the izy
ORDINANCE - 2
Date drafted: 10/7/86
WHATCOM COUNTY COUNCIL
WHATCOM COUNTY, WASHINGTON
WILLIAK'P. ROEHL
VICE CHAIRMAN
( f) APPROVED ( ) VETOED
" 0 0
JG..,.
SHIRLEY VAN ZANTEN
County Executive
CMW1977
1 APPROVED AS TO FORM:
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3 Civil Deputy Prosecuting
Attorney
4 Published on 10/29/86 and 11/12/86
5 This ordinance becomes effective on 11/17/86
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ORDINANCE - 3
Date drafted: 10/7/86
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Phone 676.6690
384.1403
SCAN 644.6690
IfI44 � � e 5 7w�
COUNTY COUNCIL
311 Grand Avenue
Bellingham, Washington 98225
CLERK'S CERTIFICATE
Don nald G. Hansey
C. J. Johnson
R. W. "Bob" Muenscher
J. V. "Jim" Hawley, Jr.
William P. Roehl
Daniel M. Warner
Tom Burton
I, the undersigned, the duly chosen, qualified and acting
Clerk of the County Council of Whatcom County, Washington
(the "County "), and keeper of the records of -the County Council
(herein called the "Council "), DO HEREBY CERTIFY:
1. That the attached Ordinance No. 86 -79 is a true and
correct copy of an Ordinance of the County as finally passed
at a meeting of the Council held on the 6th day of November,
1986, and duly recorded in my office.
2. That said meeting was duly convened and held in all
respects in accordance with law, and, to the extent required
by law, due and proper notice of such meeting was given; that
a quorum was present throughout the meeting and a legally
sufficient number of members of the Council voted in the proper
manner for the passage of said resolution; that all other
requirements and proceedings incident to proper passage have
been fuly fulfilled, carried out and otherwise observed, and
that I am authorized to execute this certificate.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the County this 10th day of
November, 1986.
WHATCOM COUNTY COUNCIL
W7XVC01 COUNTY, WASHINGTON
CLERK OF THE COUNCIL`V