§ 43.250.040. Authority of official to place funds in the public funds investment account -- Investment of funds by state treasurer -- Degree of judgment and care required
If authorized by statute, local ordinance, or resolution, a local government official or financial officer or his or her designee may place funds into the public funds investment account for investment and reinvestment by the state treasurer in those securities and investments set forth in RCW 43.84.080 and chapter 39.58 RCW. The state treasurer shall invest the funds in such manner as to effectively maximize the yield to the investment pool. In investing and reinvesting moneys in the public funds investment account and in acquiring, retaining, managing, and disposing of investments of the investment pool, there shall be exercised the judgment and care under the circumstances then prevailing which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of the funds considering the probable income as well as the probable safety of the capital.
[2001 c 31 § 3; 1996 c 268 § 3; 1986 c 294 § 4.]
Sections: Previous 43.250.010 43.250.020 43.250.030 43.250.040 43.250.050 43.250.060 43.250.070 43.250.080 43.250.090 NextLast modified: April 7, 2009