35.39.030 Excess or inactive funds

35.39.030 Excess or inactive funds—Investment.

WA Rev Code § 35.39.030 (2019) (N/A)

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RCW 35.39.030 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.

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35.39.032 Approval of legislative authority—Delegation of authority—Reports.