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State finance panel adopts COP plan change to provide financing for two community college projects
Summary
The State Finance Committee unanimously adopted Resolution 13-11 to raise the maximum aggregate principal for certificates of participation to reflect capital projects for Lower Columbia College and Spokane Community College, a routine update tied to the recent capital budget.
The State Finance Committee voted unanimously May 28 to adopt Resolution 13-11, a routine amendment to the state’s plan of finance that increases the maximum aggregate principal amount of financing contracts and certificates of participation to reflect capital projects approved in the most recent legislative session.
Secretary Jason Richter, who presented the item, said the change is tied to projects for Lower Columbia College and Spokane Community College and described it as a routine update: “Resolution 13‑11 approves and establishes a revised finance plan and maximum aggregate principal amount of financing contracts and certificates of participation of the state.”
Treasurer Mike Policciotti called for the motion and the committee adopted the resolution without further discussion. The measure updates the finance plan to accommodate bondable financing authorized in the capital budget and is intended to preserve the state’s ability to finance approved projects through the COP program.
Because the committee treated the item as a routine technical update, no additional conditions, amendments or follow‑up tasks were recorded at the meeting. The resolution was moved, seconded and adopted by voice vote.
