title
AN ORDINANCE relating to bidding for financial services contracts; and amending Ordinance 12076, Section 40, as amended, and K.C.C. 4.14.020 and Ordinance 17756, Section 7, and K.C.C. 4.14.070.
body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Findings:
A. On February 29, 2020, the Governor of Washington state declared a state of emergency in all counties in Washington as a result of coronavirus disease 2019 ("COVID-19").
B. On March 1, 2020, King County executive Dow Constantine signed a proclamation of emergency enabling "extraordinary measures" to respond to the COVID-l9 pandemic. On March 3, 2020, the council passed Motion 15610 affirming the executive's proclamation of emergency.
C. The COVID-19 pandemic has impacted nearly all business operations of King County agencies and King County special districts.
D. The King County finance and business operations division, through its treasury operations section, acts as the de facto treasurer for all King County agencies and over one hundred twenty King County special districts.
E. King County's banking services contract serves all King County agencies and King County special purpose districts for whom the treasury operations section provides treasury services.
F. The current King County banking services contract was entered into on January 1, 2015, is set to expire on December 31, 2021.
G. The procurement process for banking services is governed by K.C.C. chapter 4.14. The process as prescribed by the King County Code is lengthy, extensive, requires feedback from King County agency and special district finance managers and can take up to a year to complete under normal circumstances.
H. K.C.C. 4.14.070 prevents the finance and business operations division manager from waiving the requirements of K.C.C. chapter 4.14, including the seven-year limit on the length of the banking services contract as stated in K.C.C. 4.14.020.
I. Based on the past and continuing COVID-19 impact...
Click here for full text