Chapter 3.44 FUNDS

Chapter 3.44
FUNDS

Sections:

3.44.020 Equipment rental and revolving fund.

3.44.040 Road improvement bond/warrant guarantee fund.

3.44.010 Current expense reserve fund.

In accordance with RCW 36.29.020, there is established a fund to be known as the current expense reserve fund in the office of the treasurer for the purpose of investing funds to obtain interest thereon, the interest to be placed in the fund to be used at the discretion of and under the authority of the board for general county current expense expenditures. (Prior code § 2.80.020)

3.44.020 Equipment rental and revolving fund.

A. The board of county commissioners, acting under the authority of Chapter 67, Laws of 1977, and State Auditor Bulletin 181, September 1, 1977, enacts this section.

B. An equipment rental and revolving fund, referred to in this section as the “fund,” is established in the county treasury to be used as a revolving fund for the purchase, maintenance and repair of county road department equipment, for the purchase of equipment, materials, supplies and services required in the administration and operation of the fund, and for the purchase or manufacture of materials and supplies needed by the county road department.

C. All assets of the old equipment rental and revolving fund shall be transferred to the fund as of January 1, 1978, including all shop repair and storage buildings at Bridgeport, Del Rio, East Wenatchee, Mansfield and Waterville, including the land thereof, and all construction, maintenance, repair and engineering equipment and supplies thereof, and all stockpiled crushed and screened aggregates including all land (pits and quarries) acquired for the express purposes of manufacturing and producing crushed and screened aggregates and all other items normally associated by law with the equipment rental and revolving fund.

D. The county engineer shall administer the fund and be responsible for establishing the terms and charges for the sale of any materials or supplies which have been purchased, maintained or manufactured with moneys from the fund.

E. The county engineer shall establish rates for the rental of equipment owned by the fund to cover all costs of maintenance and repair, material and supplies consumed in operating or maintaining the equipment, and the future replacement thereof. The rates shall be subject to review by this board in January 1978 and annually thereafter.

F. All budgeting and accounting required to implement this action shall be done in accordance with the BARS manual and with instructions contained in pertinent State Auditor bulletins. (Res. CR 81-6; Res. CR 77-75)

3.44.030 North Central Fair fund.

In accordance with RCW 36.37.040, the board orders the treasurer and auditor to establish a North Central Washington Fair revolving fund account, to make the account a part of the current expense fund budget and to deposit in the account the amount of nine thousand two hundred fifty dollars received from the State Treasurer. The funds may be expended for acquisition of necessary grounds for fairs, construction, improvements, and maintenance of buildings, payment of fair premiums (this item to be construed as a revolving fund); and general maintenance of a fair. The treasurer and auditor are ordered to establish a North Central Washington Fair fund account in the amount of eleven thousand eight hundred dollars received from the State Treasurer. (Prior code § 2.80.030)

3.44.040 Road improvement bond/warrant guarantee fund.

A. There is created and shall be maintained by the county treasurer, a fund to be known and designated as the road improvement guaranty fund (“RID guaranty fund”), for the purpose of guaranteeing, to the extent of such fund, the payment of any road improvement district bonds or road improvement district warrants of the county issued in accordance with the laws of the state.

B. Annual deposits from moneys available for road purposes shall be made into the guaranty fund, in amounts sufficient to have on deposit therein, on or before March 1, 1986, an amount equal to five percent of the principal amount outstanding of all issues of road improvement district bonds or warrants issued by the county as of that date.

C. Interest received on bank deposits or government securities purchased with moneys from the guaranty fund shall be deposited into the guaranty fund.

D. Any surplus remaining in any road improvement fund guaranteed by the guaranty fund, after the payment of all outstanding bonds or warrants payable out of such road improvement fund, shall be deposited into the guaranty fund.

E. At the time of making its annual budget and tax levy, the board shall provide a sum sufficient from funds available for road purposes, together with other resources of such fund, to pay any outstanding warrants issued against the guaranty fund during the preceding year, and to maintain the unexpended balance of the guaranty fund at a minimum of five percent of the principal amount of all outstanding road improvement district bonds and warrants.

F. In the event there shall be insufficient money in any road improvement district bond fund created to pay the principal of and interest on any outstanding issue of road improvement district bonds of the county, withdrawals shall be made from the guaranty fund to pay the principal and interest in sufficient time to avoid delinquency or default.

G. Warrants may be issued against the fund as other warrants are issued by the county to meet any liability accruing against the fund. As among the various issues of bonds or warrants guaranteed by the fund, no preference shall exist, but defaulted interest coupons, bonds or warrants shall be purchased out of the fund in their order of presentation.

H. All actions or processes necessary for the establishment, maintenance and operation of the guaranty fund created by this section shall in all particulars be in accordance and conformity with the applicable present and ensuing laws of the state, particularly RCW 36.88.220 and 36.88.230.

I. Neither the holder nor the owner of any bond issued under the provisions of RCW Chapter 36.88 shall have any claim therefor against the county, except for payment from the special assessments made for the road improvement district for which the bonds were issued and except as against the county road improvement guaranty fund created in this section. The county shall not be liable to any holder or owner of such bond for any loss to the guaranty fund occurring in the lawful operation thereof by the county, and the remedy of the holder or owner of a bond in case of nonpayment shall be confined to the enforcement of any assessments made within the road improvement district and to the guaranty fund. A copy of the foregoing part of this section as it appears in RCW 36.88.240 shall be plainly written, printed or engraved on each road improvement district bond issued by the county. (Res. CR 83-11)

3.44.050 NCW economic development fund.

There is established a NCW economic development fund. (Res. CE 91-82)