Authorize interfund loan from Capital Facilities Plan Fund No. 3100 to COVID-19 Response Fund No. 1410 BEFORE THE BOARD OF COUNTY COMMISSIONERS
LEWIS COUNTY, WASHINGTON
IN THE MATTER OF: RESOLUTION NO. 20-194
AUTHORIZING AN INTERFUND LOAN FROM CAPITAL
FACILITIES PLAN FUND NO. 3100 TO COVID-19
RESPONSE FUND NO. 1410
WHEREAS, the Board of County Commissioners has received and reviewed information
related to the Department of Commerce administration of Coronavirus Relief funding
reimbursements for Lewis County in the amount of 54,371,400.00 to be used for
COVID-19 related expenditures and economic related support in Lewis County; and
WHEREAS, the Lewis County Board of County Commissioners established a separate
fund titled, COVID-19 Response Fund No. 1410, for all COVID-19 expenditures eligible
for federal reimbursement and the receipting of funds from the Washington State
Department of Commerce and the Federal Emergency Management Administration; and
WHEREAS, it appears to be in the best public interest to authorize an inter-fund loan
from Capital Facilities Plan Fund No. 3100 to COVID 19 Response fund 1410 for payment
of up to $4,371,400.00 of reimbursable expenses related to the COVID relief efforts in
Lewis County; and
WHEREAS, that an inter-fund loan is authorized from Capital Facilities Plan Fund No.
3100 to COVID-19 Response Fund 1410 for up to S4,371,400.00 to be utilized for
payments of expenditures related to COVID-19 response efforts in Lewis County.
NOW THEREFORE BE IT RESOLVED that the term of the inter-fund loan shall be up to
12 months with an interest rate of 0.00%, due to the short term of the loan, and
principal payment shall be completed upon final reimbursement payment received from
the Washington State Department of Commerce. There will be no penalty for early or
pre-payments on the loan.
DONE IN OPEN SESSION this 8th day of June, 2020.
APPROVED AS TO FORM: BOARD OF COUNTY COMMISSIONERS
Jonathan Meyer, Prosecuting Attorney LEWIS COUNTY, WASHINGTON
Amber Smith Gary Stamper
By: Amber Smith, Gary Stamper, Chair
Deputy Prosecuting Attorney
ATTEST: •
• -iX •W • Edna J J . Fund
;; '`rEdna J. Fund, Vice Chair
•� S
•
4`-17- 1��c°:
Rieva Lester '•sy `�";.• Robert C. Jackson
Rieva Lester, Robert C. Jackson, Commissioner
Clerk of the Lewis County Board of County
Commissioners
BOCC AGENDA ITEM SUMMARY
Resolution: 20-194 BOCC Meeting Date: June 8, 2020
Suggested Wording for Agenda Item: Agenda Type: Deliberation
Authorizing an interfund loan from Capital Facilities Plan Fund No. 3100 to COVID-19 Response
Fund No. 1410
Contact: Becky Butler Phone: 360-740-1198
Department: BUD - Budget
Description:
AUTHORIZING AN INTERFUND LOAN FROM CAPITAL FACILITIES PLAN FUND NO. 3100 TO COVID-19
RESPONSE FUND NO. 1410
Approvals: Publication Requirements:
Publications:
User Status
Erik Martin Pending
PA's Office Pending
Additional Copies: Cover Letter To:
Arny Davis, Rodney Reynolds, Larry Grove,
Suzette Smith and Erik Martin