Drafter
Clerk 07/23/2026
Title
A MOTION authorizing the chair to enter into investment and cash management service agreements with King County.
Body
WHEREAS, under Ordinance 17746, the King County executive services finance director serves as the treasurer for the King County transportation district ("the district"), with the treasury operations section performing the daily treasurer functions for the county and other municipal entities for which King County also provides treasurer services, including the county's investment pool, and
WHEREAS, the district adopted, by Resolution TD 2014-01, bylaws, which include the district's rules and operating procedures, and
WHEREAS, Section 4 of the district's rules and operating procedures, establishes a four-member executive committee that is authorized to approve contracts for goods and services up to $100,000, review and recommend capital projects to the district's board of supervisors, develop and approve staffing and personnel policies related to the administration of the district, and oversee and administer the daily administration of the district, and
WHEREAS, in fulfilling its charge of the daily administration and overseeing of the district, contracting with the county's treasurer to participate in the county's investment pool is an administerial, operational function, in preparation of the district receiving tax revenues in 2027, and
WHEREAS, the investment pool agreement with King County sets forth the terms and conditions by which the county will provide investment services to the district, and
WHEREAS, the cash management agreement with King County sets forth the terms and conditions by which the county will provide cash management services to the district, including authorizing the county to invest the district's idle cash without daily direction from the district, and
WHEREAS, entering into these agreements is a prerequisite for the district to apply for an interfund loan to support district operations until the sales tax revenues, authorized under Resolution TD2026-01, are received and which will be used to repay the interfund loan;
NOW, THEREFORE, BE IT MOVED by the King County Transportation District Executive Committee:
SECTION 1. The chair of the King County Transportation District is authorized to enter into the King County Investment Pool Agreement, Attachment A to this motion,
and the King County Cash Management Services Agreement, Attachment B to this motion, on behalf of the King County Transportation District.