HomeMy WebLinkAboutord2020-017Whatcom County COUNTY COURTHOUSE
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Bellingham, WA 98225-4038
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Agenda Bill Master Report
File Number: AB2020-175
File ID: AB2020-175 Version: 1 Status: Adopted
File Created: 04/07/2020 Entered by: DBrown@co.whatcom.wa.us
Department: Council Office File Type: Ordinance
Assigned to: Council Final Action: 04/07/2020
Agenda Date: 04/07/2020 Enactment #: ORD 2020-017
Primary Contact Email: DBrown@co.whatcom.wa.us
TITLE FOR AGENDA ITEM:
Emergency ordinance authorizing an interfund loan to finance cash flow for COVID-19 emergency
response
SUMMARY STATEMENT OR LEGAL NOTICE LANGUAGE:
Emergency ordinance authorizing an interfund loan to finance cash flow for COVID-19 emergency
response
HISTORY OF LEGISLATIVE FILE
Date: Acting Body: Action: Sent To:
04/07/2020 Council ADOPTED
Aye: 6 Browne, Buchanan, Donovan, Frazey, Elenbaas, and Kershner
Nay: 1 Byrd
Absent: 0
Attachments: Proposed Emergency Ordinance
Whatcom County Page 1 Printed on 411012020
PROPOSED BY: _ Executive
INTRODUCTION DATE: 4/07/2020
ORDINANCE NO. 2020-017
AN ORDINANCE AUTHORIZING AN INTERFUND LOAN TO FINANCE CASH FLOW
FOR COVID-19 EMERGENCY RESPONSE
(EMERGENCY ORDINANCE)
WHEREAS, the County Executive has issued a Proclamation of Emergency to
combat the spread of the COVID-19 virus; and
WHEREAS, the spread of the virus presents a continuing threat to the health and
safety of the citizens of Whatcom County; and
WHEREAS, the County has established the COVID-19 Emergency Response
Fund to track restricted and committed revenues in response to the COVID-19
outbreak; and
WHEREAS, adequate cash flow is needed to fund this response due to the
processing time required to receive expected local, state, and federal FEMA
assistance and reimbursements; and,
WHEREAS, Ordinance 2020-165 provided a $1 million emergency loan from the
Public Utilities Improvement Fund (EDI Fund) to provide a cash flow loan to be
used for initial COVID-19 response; and,
WHEREAS, adequate cash is available in the Public Utilities Improvement Fund
(EDI Fund) to refund the emergency loan and provide a $3,000,000 eighteen -month
cash flow loan for expanded COVID-19 response,
FINDINGS: The spread of the COVID-19 virus presents a continuing threat to the
health and safety of the citizens of Whatcom County. The County needs temporary
cash flow assistance to effectively respond to this crisis,
NOW, THEREFORE, BE IT ORDAINED by the Whatcom County Council that the
Whatcom County Treasurer is hereby authorized to make an interfund loan from the
Public Utilities Improvement Fund to the COVID-19 Emergency Response Fund
providing adequate cash flow for expanded COVID-19 response.
BE IT FURTHER ORDAINED that the loan shall not exceed $3,000,000 and shall
be for a term not exceeding eighteen months.
BE IT FINALLY ORDAINED that one-half percent interest shall be charged on the
loan.
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