The Whatcom County Treasurer's Office actively manages a debt portfolio (PDF). Some of this debt was issued by Whatcom County itself, but most of it has been issued by the special taxing districts in the County for which we are their Treasurer.
As debt is being issued, the Treasurer's staff works with the bond counsel and underwriters to supply information, then to review and comment on the various legal documents being presented.
Once debt has been issued, the Treasurer's staff tracks the debt service schedules and makes sure the issuing entity has sufficient cash to make the payment. These debt service payments are then made by the Treasurer from funds set aside by the entity for this purpose.
The Whatcom County Treasurer's Office manages debt, when they have it, for:
7 School Districts
16 Fire Districts
8 Water Districts
11 Cemetery Districts
3 Parks and Recreation Districts
Council of Governments
McCauley Creek Flood Control District
Northwest Regional Council
Public Utility District #1
Whatcom County Rural Library System
Point Roberts Hospital District
In accordance with RCW 36.48.070, the County Finance Committee was established, consisting of the Treasurer, the Auditor, and the Chair of the County Council. This Committee is responsible for approving the Whatcom County Debt Policy (PDF), and for reviewing and updating this policy at least every four years. This policy only applies to debt being issued by Whatcom County, not by the individual special taxing districts within the County.