Cowlitz River Basin Subzone Fund 1260 BEFORE THE BOARD OF COUNTY COMMISSIONERS
OF LEWIS COUNTY, WASHINGTON
IN THE MATTER OF }
COWLITZ RIVER BASIN SUBZONE FUND 1260 }
AUTHORIZING CASH FLOW LOAN FROM } RESOLUTION NO 19- 3 15
CURRENT EXPENSE FUND NO 0010 }
WHEREAS, the Board of County Commissioners have reviewed information relating to reimbursement
basis grants and the potential timing difference between incurring project expenses and receiving anticipated
grant revenues, the Cowlitz River Basin Subzone Fund No 1260, will be in a negative cash balance during the
FEMA floodplain study of the Upper Cowlitz Basin, and
WHEREAS, it appears to be in the best public interest to authorize up to $650,000 on an as needed cash
flow basis loan from Current Expense Fund No 0010 to Cowlitz River Basin Subzone Fund No 1260, based on
an awarded grant funded project, to cover the projected negative cash position until anticipated grant revenues
are received during the project
NOW, THEREFORE BE IT RESOLVED that cash up to $650 000 be transferred from unencumbered
Current Expense Funds to the Cowlitz River Basin Subzone Fund No 1260 based on awarded grant funded
projects, by the Treasurer's Office, and said transfer shall be considered a loan from Current Expense to said
Fund No 1260 That said loan shall be repaid, as the anticipated revenues are received, provided adequate
cash balance remains in the Cowlitz River Basin Subzone Fund No 1260 to cover subsequent period expenses,
and that there shall be 3.25% interest charged given the cash is to cover expenses which may legally be
allocated from the Current Expense fund for the FEMA floodplain study of the Upper Cowlitz Basin This loan will
terminate on December 31, 2019 or earlier if the project is completed
DONE IN OPEN SESSION this 29th day of July 2019
ATTEST BOA- a OF COUNTY CO SSIONERS
L :0 COUN A o' G N
Rieva Lester, Clerk of the Lewis County
r
Board of County Commissioners -ob-rt , a •n Chair
APPROVED AS TO FORM
1l / f' i
JONATHAN L MEYER, Prosecuting Attorney Gary Sta per ce c hair
Prosecuting Attorn
Ni■ 4 /
By tilt t( •.,704.u.4-• ...,,,
•,7ovNT•. Edna J Fund, Co•r issioner
Civil Deputy . � s .
•4 �O O� \'Sf••
0
:g SINCE pia:
*�\ 1845 . i
• •
• 4 ?„ O •
•••• ••l•0i•
BOCC AGENDA ITEM SUMMARY
Resolution BOCC Meeting Date: Jul 29,2019
Suggested Wording for Agenda Item. Agenda Type. Consent
Cowlitz River Basin Sub-zone Fund 1260 authonzmg cash flow loan from Current Expense Fund No 0010 for
costs associated with the FEMA floodplain study of the Upper Cowlitz Basin
Contact Josh Metcalf Phone: Ext 2762 RECEIVED
Department Public Works
Action Needed Approve Resolution
JUL 1 6 2019
LEWIS COUNTY
Description PROSECUTING ATTORNIT'
The Board of County Commissioners have reviewed information relating to reimbursement basis grants and the
potential timing difference between incurring project expenses and receiving anticipated grant revenues for the
Cowlitz River Basin Sub-zone Fund 1260
The Fund could potentially be m a negative cash balance during the FEMA floodplain study of the Upper
Cowlitz Basm, and A cash flow loan from the Current Expense Fund No 0010 is needed in order to cover the
potential negative cash position until anticipated grant revenues are received.
Approvals:
User Group Status
Metcalf,Josh Public Works Pendmg
Gatten, Cullen Prosecutor Pending
Martin, Erik BOCC Pending
Davis,Amy Pending
Additional Copies
Kim Amrme,Rodney Reynolds,Amy Davis,Josh Metcalf,Tim Fife,Laura Miller and Suzette Smith,Robin Saline