HomeMy WebLinkAboutResolution 08-115-CCBOARD OF COUNTY COMMISSIONERS
Grant County, Washington
RESOLUTION No. 08- �� � CC
A RESOLUTION relating to the establishment of a new investment fund to be named:
Veterans Relief Investment Fund #104; and
WHEREAS, it has been called to the attention of the Board of County Commissioners
that a new investment fund should be established as set forth hereinabove; and
WHEREAS, the establishment of said investment fund may be accomplished without a
public hearing pursuant to state and county budget laws,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE BOARD OF
COUNTY COMMISSIONERS OF GRANT COUNTY, STATE OF WAS�IINGTON, that
the following investment fund is hereby created and established: Veterans Relief Investment
Account Fund #104 and the Grant County Auditor and the Grant County Treasurer are hereby
directed to establish said investment fund in their respective offices.
This resolution is in the best interests of good government and shall take effective
immediately. �'
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DATEI): this � day of �%� , 2008.
Yea Nay
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BOARD OF COUNTY COMMISSIONERS
Abstain G�NT COUNTY, WASHINGTON
❑ Richard Stevens, Chair
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� � � LeRoy1Allison, er
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� � � Cind C er, Member
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F:�BVasquez\Resolution-Ordinance\Veterans Relief Investment Fund.doc
Page 1 of 1
December 10, 2008
TO: GRANT COiTNTY COMMISSIONERS
FROM: DARRYL PHEASANT
GRANT COUNTY TREASURER
RE: VETERANS RELIEF INVESTMENT ACCOUNT
RCW 73.08.080 includes language in Section 1(see attached) states that `Bxpenditures
from the veterans' assistance fund, and interest earned on balances from the fund, may be
used only for:..." This specific language sounds like that the uninvested balances of
monies in the fund should be invested directly to the beneiit of the fund instead of being
treated lilce Surplus funds.
If you agree with this interpretation, please create a resolution the instructs me to create
an investment fund for the veterans relief fund and invest all unencumbered cash.
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RCW 73.08.080: Tax levy aut�orize�l:�
RCW 73.08.080
Tax levy authorized.
Page 1 �of 1
(1) The legislative authority in each county shall levy, in addition to the taxes now levied by law, a tax in a sum equal to
the amount which would be raised by not less than one and one-eighth cents per thousand dollars of assessed value,
and not greater than twenty-seven cents per thousand dollars of assessed value against the taxable property of their
respective counties, to be levied and collected as now prescribed by law for the assessment and collection of taxes, for
the purpose of creating a veterans' assistance fund. Expenditures from the veterans' assistance fund, and interest
earned on balances from the fund, may be used only for:
(a) The veterans' assistance programs authorized by RCW 73,08.010;
(b) The burial or cremation of a deceased indigent veteran or deceased family member of an indigent veteran as
authorized by RCW 73.08.070; and
(c) The direct and indirect costs incurred in the administration of the fund as authorized by subsection (2) of this
section.
(2) If the funds on deposit in the veterans' assistance fund, less outstanding warrants, on the first Tuesday in
September exceed the expected yield of one and one-eighth cents per thousand dollars of assessed value against the
taxable property of the county, the county legislative authority may levy a lesser amount. The direct and indirect costs
incurred in the administration of the veterans' assistance fund shall be computed by the county auditor, or the chief
financial officer in a county operating under a charter, not less than annually. Following the computation of these direct
and indirect costs, an amount equal to these costs may then be transferred from the veterans' assistance fund to the
county current expense fund.
(3) The amount of a levy allocated to the purposes specified in this section may be reduced in the same proportion as
the regular property tax levy of the county is reduced by chapter 84.55 RCW.
[2005 c 250 § 6; 1985 c 181 § 2; 1983 c 295 § 6; 1980 c 155 § 6; 1973 2nd ex.s. c 4§ 5; 1973 1 st ex.s. c 195 § 86; 1970 ex.s. c 47 § 9; 1969 c
57 § 1; 1945 c 144 § 7; 1921 c 41 § 7; 1919 c 83 § 7; 1907 c 64 § 7; 1893 c 37 § 2; 1888 p 210 § 7; Rem, Supp. 1945 § 10742. Formerly RCW
73.08.020.]
Notes:
Intent -- 2005 c 250: See note following RCW 73.08.005.
Effeetive date -- Applicability -- 1980 c 155: See note following RCW 84.40.030.
Emergency -- Effective dates --1973 2nd ex.s. c 4: See notes following RCW 84.52.043.
Severability -- Effective dates and termination dates -- Construction -- 1973 1st ex.s. c 195: See notes
following RCW 84.52.043.
http://apps.leg.wa.gov/RCW/default.aspx?cite=73.08.080 12/10/2008