HomeMy WebLinkAboutord2024-076•
Whatcom County
COUNTY COURTHOUSE
311 Grand Avenue, Ste #105
Bellingham, WA 98225-4038
(360) 778-5010
Agenda Bill Master Report
File Number: AB2024-776
File ID:
AB2024-776
Version: 1
Status: Adopted
File Created:
11/07/2024
Entered by: SDraper@co.whatcom.wa.us
Department:
Public Works
File Type: Ordinance
Department
Assigned to:
Council Finance
and Administrative Services Committee
Final Action: 12/03/2024
Agenda Date:
12/03/2024
Enactment #: ORD
2024-076
Related Files:
Primary Contact Email: sdraper@co.whatcom.wa.us
TITLE FOR AGENDA ITEM:
Ordinance amending Ordinance 2013-022, to allow the Road Fund to issue cash -flow loans to
capital project budgets from $1 million to $2 million for a term not to exceed two years
SUMMARY STATEMENT OR LEGAL NOTICE LANGUAGE:
See Memo
HISTORY OF LEGISLATIVE FILE
Date: Acting Body:
Action:
Sent To:
11/19/2024 Council INTRODUCED Council Finance and
Administrative Services
Committee
Aye: 6 Buchanan, Donovan, Elenbaas, Galloway, Scanlon, and Stremler
Nay: 0
emp Absent: 1 Byrd
12/03/2024 Council Finance and Administrative RECOMMENDED FOR
Services Committee ADOPTION
Aye: 3 Byrd, Galloway, and Donovan
Nay: 0
12/03/2024 Council ADOPTED
Aye: 7 Buchanan, Byrd, Donovan, Elenbaas, Galloway, Scanlon, and Stremler
Nay: 0
Whatcom County Page 1 Printed on 121412024
Agenda Bill Master Report Continued (AB2024-776)
Attachments: Staff Memo, Proposed Ordinance, Notice of Action Proposed on 11.19.2024
Whatcom County Page 2 Printed on 121412024
1 PROPOSED BY: Public Works
2 INTRODUCTION DATE: 11/19/2024
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5 ORDINANCE NO. 2024-076
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7 ORDINANCE AMENDING THE FUNDING LIMIT OF CASH FLOW LOANS FROM THE
8 ROAD FUND TO CAPITAL PROJECT BUDGETS
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11 WHEREAS, Ordinance 2013-022 was passed in order to provide inter -fund loans up
12 to $1,000,000 to Capital Project Funds from the Road Fund; and
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16 WHEREAS, the national annual average of the Consumer Price Index was 232.957
17 in 2013 and 313.056 in 2024, so inflation has risen by 34.38% since the ordinance
18 was initially passed; and
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22 WHEREAS, costs associated with capital projects have risen significantly, which
23 results in progress payments in excess of $1,000,000; and
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27 WHEREAS, given the processing time required to receive grant funds, large project
28 payments can be significantly delayed without a sufficient cash balance; and
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32 WHEREAS, RCW 39.76.011- Interest on unpaid public contracts, requires payment
33 be made to prime contractors no later than thirty days from the receipt of a properly
34 completed invoice; and
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38 WHEREAS, in order to ensure compliance with the Revised Code of Washington, the
39 Road Fund must be able to provide adequate inter -fund loans to Captial Project
40 Funds,
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NOW, THEREFORE, BE IT ORDAINED by the Whatcom County Council that the
Whatcom County Treasurer is herby authorized to make inter -fund loans from the
County Road Fund to Capital Project Funds for cash flow purposes. The loans shall
not execeed $2,000,000 per project and shall not be for a term exceeding two years.
No interest shall be charged on the loans,
ADOPTW,�thY'13''fg® day of Decem
ATTE
Dana BrownaDav C rl�Athoi�cil
fit Cs
APPROVED'AS TO 0, RM:
ADDroved by emaillC'' 6lkn
Christopher Quinn, Senior Deputy Prosecutor
ber , 2024.
WHATCOM COUNTY COUNCIL
HATCOM NTY, WASHINGTON
Ba ry Bfichahan, Council Chair
WHATCOM COUNTY COUNCIL
W OM COUNTY, WASOPNGTON
Satpal Sidhu County Executive
( ) Approved ( ) Denied
Date Signed: t1512-1