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Home My WebLink Aboutres2026-020' Whatcom County COUNTY COURTHOUSE 311 Grand Avenue, Ste #105 Bellingham, WA 98225-4038 (360) 778-5010 Agenda Bill Master Report File Number: AB2026-402 File ID: AB2026-402 Version: 1 Status: Approved File Created: 05/15/2026 Entered by: MMiterko@co.whatcom.wa.us Department: Finance Division File Type: Resolution Assigned to: Council Finance and Administrative Services Committee Final Action: 05/26/2026 Agenda Date: 05/26/2026 Enactment #: RES 2026-020 Related Files: Primary Contact Email: rrydel@co.whatcom.wa.us TITLE FOR AGENDA ITEM: Resolution appointing the County Treasurer and Finance Director as the county representatives authorized to designate certain expenditures for reimbursement from future tax-exempt obligations SUMMARY STATEMENT OR LEGAL NOTICE LANGUAGE: Per United States Department of Treasury regulations section 1.150-2, one or more officials may be appointed by the County for the purpose of identifying and qualifying capital projects for reimbursement pursposes. This resolutions seeks to designate the County Treasurer and Finance Director as such representatives; please see attached. HISTORY OF LEGISLATIVE FILE Date: Acting Body: Action: Sent To: 05/26/2026 Council Finance and Administrative RECOMMENDED FOR Services Committee APPROVAL Aye: 7 Boyle, Buchanan, Elenbaas, Galloway, Rienstra, Scanlon, and Stremler Nay: 0 05/26/2026 Council APPROVED Aye: 7 Boyle, Buchanan, Elenbaas, Galloway, Rienstra, Scanlon, and Stremler Nay: 0 Whatcom County Page 1 Printed on 512712026 Agenda Bill Master Report Continued (AB2026-402) Attachments: Staff Memo, Proposed Resolution Whatcom County Page 2 Printed on 512712026 PROPOSED BY: FINANCE/TREASURER INTRODUCED: MAY 26, 2026 RESOLUTION NO. 2026-020 A RESOLUTION OF THE WHATCOM COUNTY COUNCIL APPOINTING THE COUNTY TREASURER AND FINANCE DIRECTOR AS THE COUNTY REPRESENTATIVES AUTHORIZED TO DESIGNATE CERTAIN EXPENDITURES FOR REIMBURSEMENT FROM FUTURE TAX-EXEMPT OBLIGATIONS, INCLUDING BONDS, THAT MAY BE AUTHORIZED AND APPROVED BY THE COUNTY COUNCIL IN THE FUTURE FOR ISSUANCE. WHEREAS, Whatcom County, Washington (the "County") issues tax-exempt obligations, including bonds, notes, and leases from time to time for the purpose of financing its governmental activities; and WHEREAS, the United States Department of the Treasury has promulgated Regulations limiting the ability of the County to use the proceeds of tax-exempt obligations for reimbursement of prior expenditures; and WHEREAS, Section 1.150-2 of the Regulations, however, permits the County to appoint one or more officials for the purpose of identifying and qualifying capital projects for reimbursement purposes; and WHEREAS, any such declaration of official intent to reimburse must not be made as a matter of course or in an amount substantially in excess of the amount expected to be necessary for the proposed project; and WHEREAS, issuance of an official declaration of intent to reimburse does not commit the County to issuing any tax-exempt obligations, which remain subject to authorization only through subsequent action of the County Council prior to issuance. NOW THEREFORE, BE IT RESOLVED BY THE WHATCOM COUNTY COUNCIL AS FOLLOWS: Section 1. Designated Officials. The County Council hereby appoints and designates the County Treasurer and the County Finance Director (each, an "Authorized Representative") as the officials responsible for issuing statements of official intent in compliance with Treasury Regulation Section 1.150- Section 2. Authorization to Execute. Upon a determination by an Authorized Representative that the costs of a particular capital project may be reimbursed from the proceeds of tax-exempt obligations of the County, each Authorized Representative is hereby authorized and directed to execute a certificate of official intent, substantially in the form attached hereto as Exhibit A. Each certificate so executed shall become a part of the official records of the County available for public inspection and review. The signature of one Authorized Representative shall be sufficient for the purposes of making such declarations of intent on behalf of the County. Section 3. Severability. If any one or more section, subsection, or sentence of this resolution is held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this resolution and the same shall remain in full force and effect. Section 4. Corrections by Clerk of the County Council. After consultation with bond counsel to the County, the Clerk of the Council is authorized to make necessary corrections to this resolution, including the correction of clerical errors; resolution, section, or subsection numbering; or references to other local, state, or federal laws, codes, rules, or regulations. Section 5. Effective Date. This resolution shall take effect and be in force immediately upon its passage. APPROVED this 26thday of____May 2026. ��tS�8811a'a✓�. ATTEST A 7C �® 0 (°ail..? Cathy H- ka, Clerkpf the' `nao'1 ov APPROVED AS TO FORM: Approved by Email B.Waldron Civil Deputy Prosecutor WHATCOM COUNTY COUNCIL WHATCOM COUNTY, WASHINGTON -; &� 6 Wk P -, --�/ - Kaylee Galloway, Council Chair EXHIBIT A FORM OF OFFICIAL INTENT CERTIFICATE Pursuant to Resolution No. of the County Council of Whatcom County, Washington (the "County"), adopted on , 2026 (the "Reimbursement Resolution"), the undersigned Authorized Representative of the County hereby states as follows: Section 1. I hereby certify that I am an Authorized Representative of the County as defined in the Reimbursement Resolution, and as such I am authorized to execute and deliver this certificate on behalf of the County. Section 2. The County reasonably expects to reimburse the expenditures described herein with the proceeds of debt to be incurred by the County (the "Reimbursement Bonds"). Section 3. The maximum principal amount of Reimbursement Bonds expected to be issued is $ [STATE THE MAXIMUM A MO UNT OF THE TAX-EXEMPT BONDS EXPECTED TO BE ISSUED AND/OR USED TO REIMBURSE THE CO UNTY] . Section 4. The expenditures with respect to which the County reasonably expects to be reimbursed from the proceeds of Reimbursement Bonds will be made from the County's Fund/Account [STATE WHICH FUND WILL BE USED TO INITIALLY PAY FOR THE EXPENDITURES] for project costs related to the [DESCRIBE PROJECTS]. This declaration of intent to reimburse is made this day of , 20 [NAM [TITLE] , as Authorized Representative