35.39.030 - Excess or inactive funds -- Investment. - Washington Statutes

Excess or inactive funds — Investment.

Every city and town may invest any portion of the moneys in its inactive funds or in other funds in excess of current needs in:

     (1) United States bonds;

     (2) United States certificates of indebtedness;

     (3) Bonds or warrants of this state;

     (4) General obligation or utility revenue bonds or warrants of its own or of any other city or town in the state;

     (5) Its own bonds or warrants of a local improvement district which are within the protection of the local improvement guaranty fund law; and

     (6) In any other investments authorized by law for any other taxing districts.

[1975 1st ex.s. c 11 § 1; 1969 ex.s. c 33 § 1; 1965 ex.s. c 46 § 1; 1965 c 7 § 35.39.030. Prior: 1943 c 92 § 1; Rem. Supp. 1943 § 5646-13.]

Notes: Effective date -- 1969 ex.s. c 33: "This 1969 amendatory act is necessary for the immediate preservation of the public peace, health and safety, the support of the state government and its existing political subdivisions; and shall take effect July 1, 1969." [1969 ex.s. c 33 § 4.] This applies to RCW 35.39.030 through 35.39.034.

Construction -- 1965 c 7: See RCW 35.39.050.