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Board authorizes RFQ to implement new hospital-proceeds trust permitted by state law
Summary
County administrator asked permission to issue an RFQ to find a manager for a hospital-proceeds trust authorized by recent state legislation; the board approved beginning the RFQ process and noted July 1 as a target to set deposit amounts.
County administrator Carver told the board that the state legislature passed a bill authorizing counties to establish a hospital-proceeds trust (referenced in the packet as a recently passed House bill). She asked the board to authorize issuance of a request for qualifications (RFQ) to solicit firms that would manage the trust in accordance with the statute.
Carver said staff has until July 1 to determine how much money the county will deposit into the trust and that the statute requires the county to establish rules consistent with the enabling law. "We have until July 1 to establish exactly how much money we're going to deposit into the trust," she said. The board approved beginning the RFQ process so staff can bring back qualified proposals and recommended management approaches.
Next steps: staff will draft and advertise the RFQ, receive responses and return recommendations to the board ahead of any deposit decision.
