Z-0316.1  _______________________________________________

 

                         SENATE BILL 5687

          _______________________________________________

 

State of Washington      53rd Legislature     1993 Regular Session

 

By Senators Owen, Pelz and Bauer

 

Read first time 02/09/93.  Referred to Committee on Natural Resources.

 

Permitting the pooling of department of natural resources trust management accounts.


    AN ACT Relating to authorization of the pooling of trust management accounts; and amending RCW 79.64.020 and 79.64.030.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

 

    Sec. 1.  RCW 79.64.020 and 1985 c 57 s 80 are each amended to read as follows:

    A resource management cost account in the state treasury is hereby created to be used solely for the purpose of defraying the costs and expenses necessarily incurred by the department in managing and administering public lands and the making and administering of leases, sales, contracts, licenses, permits, easements, and rights of way as authorized under the provisions of this title.  Appropriations from the account to the department shall be expended for no other purposes.  Funds in the account may be appropriated or transferred by the legislature for the benefit of all of the trusts from which the funds were derived.

 

    Sec. 2.  RCW 79.64.030 and 1988 c 70 s 4 are each amended to read as follows:

    Funds in the account derived from the gross proceeds of leases, sales, contracts, licenses, permits, easements, and rights of way issued by the department and affecting school lands, university lands, agricultural college lands, scientific school lands, normal school lands, capitol building lands, or institutional lands shall be pooled and expended by the department solely for the purpose of defraying the costs and expenses necessarily incurred in managing and administering ((public lands of the same trust:  PROVIDED, That)) all of the trust lands enumerated in this section.  Such funds may be used for similar costs and expenses in managing and administering other lands managed by the department((:  PROVIDED FURTHER,)) provided that such expenditures that have been or may be made on such other lands shall be repaid to the resource management cost account together with interest at a rate determined by the board of natural resources.

    An accounting shall be made annually of the accrued expenditures ((as regards each)) from the pooled trust funds in the account.  In the event the accounting determines that expenditures have been made from moneys derived from ((one category of)) trust lands for the benefit of ((another trust or)) other lands, such expenditure shall be considered a debt ((against the trust benefited)) and ((shall be considered)) an encumbrance against the property ((of the trust or trust funds)) benefited, including property held under chapter 76.12 RCW.  The results of the accounting shall be reported to the legislature at the next regular session.  The state treasurer is authorized, upon request of the department, to transfer funds between the forest development account and the resource management cost account solely for purpose of repaying loans pursuant to this section.

 


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