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Home My WebLink About86-1223-24R STATE OF WASHINGTON County of Jefferson In the Matter of Providing a Loan to the HJ Carroll Park Fund (304) from the Jefferson RESOLUTION NO. 8 6-12 2 3-2 4 R County Capital Improvement Fund (302) WHEREAS, the Board of Jefferson County Commissioners are committed to the next development phase of the JUMP Park at HJ Carroll Park, Port Hadlock, WA; and WHEREAS, the HJ Carroll Park-JUMP has received 100%grant funding to completed the next phase that is set to begin construction in January, 2025; and WHEREAS, the grant funding is a reimbursement of expenditures and working capital to pay contractors before receiving grant funds is required; and WHEREAS, the JUMP Park is already on the County's Capital Improvement Plan and the Capital Improvement Fund(302)has sufficient fund balance that a loan to the HJ Carroll Park Fund(304)will not impact the fund's ability for other capital projects; and WHEREAS, the State Auditor's Office has set out guidelines and minimum standards within the Washington State Bars Manual, and Jefferson County has a debt policy authorizing the Board of County Commissioners to approve inter fund loans; WHEREAS, that the Board of Commissioners, in the best interest of the public,does hereby authorize the County Treasurer to loan an amount of$350,000 from the Capital Improvement Fund to the HJ Carroll Park Fund (304), at 5%per annum; and WHEREAS, the interest on said loan will be deposited in the Capital Improvement Fund; and WHEREAS, the said amount of the loan and interest shall be repaid on or before September 30, 2025; and NOW, THEREFORE, THE BOARD OF COUNTY COMMISSIONERS OF JEFFERSON COUNTY, WASHINGTON, HEREBY RESOLVE AS FOLLOWS: Section 1. Whereas Clauses are Findings of Fact. The Jefferson County Board of Commissioners hereby adopts the above "Whereas" clauses as Findings of Fact. Section 2. Purpose. The purpose of this resolution is to authorize the County Treasurer to loan an amount of$350,000 from the Capital Improvement Fund(302)to the HJ Carroll Park Fund(304), at 5% per annum, with the interest on said loan deposited to the Capital Improvement Fund, and the said amount of the loan and interest shall be repaid on or before September 30, 2025. Section 4. Loan Approved. The Loan to the HJ Carroll Park Fund(304) from the Jefferson County Capital Improvement Fund(302) above is hereby approved. 1 of 3 Section 5. Severability. If any section, subsection, sentence, clause, phrase or section of this resolution or its application to any person or circumstance is held invalid, the remainder of this resolution or its application to other persons or circumstances shall be fully valid and shall not be affected. Section 6. Effective Date. This resolution is effective upon adoption. Section 7. SEPA Categorical Exemption. This resolution is categorically exempt from the State Environmental Policy Act under WAC 197-11-800(19). (SIGNATURES FOLLOW ON THE NEXT PAGE) 2 of 3 ADOPTED and APPROVED this day of 0-e,- , 2024. JEFFERSON COUNTY BOARD OF SEAL: COUNTY COMMISSIONERS Kate e Chair • ,p.,p n ogblp, F ERSO°j4s 4 •pMMle**•• 0 � IA oti•�G erton, Member 1 0�• . Heidi Eisenhour, Member +4.4•111.y'4SHING ATTES • APPROVED AS TO FORM: 12 23 zy Carol n Gallaway, C C Date Philip C. Hunsuc er, Date /� ( Clerk the Board Chief Civil Deputy Prosecuting Attorney 3 of 3 0 • JEFFERSON COUNTY STATE OF WASHINGTON BOARD OF COUNTY COMMISSIONERS County of Jefferson AGENDA REQUEST In the Matter of Providing a Loan to the HJ Carroll Park Fund (304) from the Jefferson RESOLUTION NO. TO: Board of County Commissioners County Capital Improvement Fund(302) FROM: Judy Shepherd,Finance Director WHEREAS,the Board of Jefferson County Commissioners are committed to the next DATE: December 23,2024 development phase of the JUMP Park at HJ Carroll Park,Port Hadlock,WA;and SUBJECT: Interfund Loan from the Capital Improvement Fund to the HJ Carroll Park WHEREAS,the HJ Carroll Park-JUMP has received 100%grant funding to completed Fund the next begin that is set toconstruction in Jan phase uary,2025;and WHEREAS,the grant funding is a reimbursement of expenditures and working capital to STATEMENT OF ISSUE:The Capital Improvement Plan identified the HJ Carroll Park-JUMP as a pay contractors before receiving grant funds is required;and capital project and anticipated transferring$100,000 from the Capital Improvement Fund to the HJ Carroll Park Fund.However,the next phase of JUMP construction has now been completely funded with grant WHEREAS,the JUMP Park is already on the County's Capital Improvement Plan and funds,totaling approximately S350,000. the Capital Improvement Fund(302)has sufficient fund balance that a loan to the HJ Carroll Park Fund(304)will not impact the fund's ability for other capital projects;and ANALYSIS: The grant funds will be paid by reimbursement of expenditures and the HJ Carroll Park Fund(304)does not WHEREAS,the State Auditor's Office has set out guidelines and minimum standards currently have enough working capital to pay contractors as work is completed;therefore,it temporarily within the Washington State Bars Manual,and Jefferson County has a debt policy authorizing requires funds. the Board of County Commissioners to approve inter fund loans; FISCAL IMPACT: WHEREAS,that the Board of Commissioners,in the best interest of the public,does The Capital Improvement Fund(302)has capacity to do a short-term loan in the amount of$350,000 at 5% hereby authorize the County Treasurer to loan an amount of$350,000 from the Capital per annum.The interest will be deposited to the Capital Improvement Fund.The loan and interest will be Improvement Fund to the HJ Carroll Park Fund(304),at 5%per annum;and repaid on or before September 30,2025. WHEREAS,the interest on said loan will be deposited in the Capital Improvement Fund; RECOMMENDATION: and The Board of Commissioners of Jefferson County authorize the County Treasurer to loan$350,000 from the Capital Improvement Fund(302)to the HJ Carroll Park Fund(304),at 5%per annum. WHEREAS,the said amount of the loan and interest shall be repaid on or before September 30,2025;and REVIEWED BY: NOW, THEREFORE, THE BOARD OF COUNTY COMMISSIONERS OF � JEFFERSON COUNTY,WASHINGTON,HEREBY RESOLVE AS FOLLOWS: 42/r/Y Section I.Whereas Clauses are Findings of Fact. The Jefferson County Board of Commissioners Mar McCauley, ty Administrator Date hereby adopts the above"Whereas"clauses as Findings of Fact. Section 2.Purpose. The purpose of this resolution is to authorize the County Treasurer to loan an amount of$350,000 from the Capital Improvement Fund(302)to the HJ Carroll Park Fund(304), at 5%per annum,with the interest on said loan deposited to the Capital Improvement Fund,and the said amount of the loan and interest shall be repaid on or before September 30,2025. Section 4.Loan Approved. The Loan to the HJ Carroll Park Fund(304)from the Jefferson County Capital improvement Fund(302)above is hereby approved. 1 of 3 Section 5.Severability.If any section,subsection,sentence,clause,phrase or section of this ADOPTED and APPROVED this day of ,2024. resolution or its application to any person or circumstance is held invalid,the remainder of this resolution or its application to other persons or circumstances shall be fully valid and shall not be affected. JEFFERSON COUNTY BOARD OF Section 6.Effective Date.This resolution is effective upon adoption. SEAL: COUNTY COMMISSIONERS Section 7.SEPA Categorical Exemption. This resolution is categorically exempt from the State Environmental Policy Act under WAC 197-I 1-800f 19). Kate Dean,Chair (SIGNATURES FOLLOW ON THE NEXT PAGE) Greg Brotherton,Member Heidi Eisenhour,Member ATTEST: APPROVED AS TO FORM: Carolyn Gallaway,CMC Date Philip C.Hunsucker, Date Clerk of the Board Chief Civil Deputy Prosecuting Attorney 2of3 3of3 JEFFERSON COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST TO: Board of County Commissioners FROM: Judy Shepherd, Finance Director DATE: December 23, 2024 SUBJECT: Interfund Loan from the Capital Improvement Fund to the HJ Carroll Park Fund STATEMENT OF ISSUE: The Capital Improvement Plan identified the HJ Carroll Park-JUMP as a capital project and anticipated transferring $100,000 from the Capital Improvement Fund to the HJ Carroll Park Fund. However, the next phase of JUMP construction has now been completely funded with grant funds,totaling approximately $350,000. ANALYSIS: The grant funds will be paid by reimbursement of expenditures and the HJ Carroll Park Fund (304) does not currently have enough working capital to pay contractors as work is completed; therefore, it temporarily requires funds. FISCAL IMPACT: The Capital Improvement Fund (302)has capacity to do a short-term loan in the amount of$350,000 at 5% per annum. The interest will be deposited to the Capital Improvement Fund. The loan and interest will be repaid on or before September 30, 2025. RECOMMENDATION: The Board of Commissioners of Jefferson County authorize the County Treasurer to loan $350,000 from the Capital Improvement Fund (302)to the HJ Carroll Park Fund(304), at 5%per annum. REVIEWED BY: r, /1s' af Mar tY McCauley, C Administrator Date