The Marshall County Commissioners took steps at their meeting last week to create a fund to place the nearly nine million dollars of American Rescue Plan (ARP) funds they will receive into. The county will receive two distributions, one in May 2021 and the second in May 2022. The suspended the rules and passed the ordinance creating the fund on all three readings.
The fund was created in accordance with the U.S. Treasury guidelines. The money the county received is to help alleviate the negative economic impacts to households, small businesses, and non-profits from COVID-19. They can also aid impacted industries such as tourism, travel and hospitality. The funds are also be used to respond to workers performing essential work during the pandemic.
The U.S Treasury specifically spells out fund usage for investments in water, sewer, or broadband infrastructure. It also says no ARP funds are to be used to pay any type of pension fund.
The commissioners will establish a plan with conditions and rules on how the funds are to be used or requested. Expenditures from the ARP funds must be approved by the Board of Commissioners.
The county will have until December 31, 2024 to use the funds. Any remaining funds will be paid back to the U.S. Treasury after that date.