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PRCAC votes to request investment of $1.27M TBD balance to earn returns
Summary
PRCAC members reported they voted to ask Whatcom County public works/finance to invest the Point Roberts TBD balance and to return interest to the TBD fund; public‑works will submit paperwork to county finance for execution.
At a recent PRCAC meeting the committee reported a vote to request that Whatcom County invest the Point Roberts TBD fund balance and return investment interest to the TBD account. Rhiannon said the committee had completed a formal vote and that public‑works would prepare paperwork to send to county finance (Steven Oliver) to enable the investment.
Rhiannon summarized the procedural steps: public‑works fills out the investment paperwork, sends it to county finance, and Steven Oliver can release funds back to general/other accounts within 24 hours if required; PRCAC said it will monitor returns and report the interest credited to the TBD. "We voted. Yes. We want it invested," Rhiannon said, noting the decision was taken to generate a steady revenue stream while the committee develops spending priorities.
