S-0840.1  _______________________________________________

                         SENATE BILL 5511

          _______________________________________________

State of Washington      54th Legislature     1995 Regular Session

By Senators Hargrove, Owen, Snyder, Quigley, Morton, Roach and A. Anderson

Read first time 01/25/95.  Referred to Committee on Ways & Means.

Requiring an audit of the board of natural resources.

    AN ACT Relating to the board of natural resources; and creating new sections.

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

NEW SECTION. Sec. 1.  The legislature finds that it is the fiduciary responsibility of the commissioner of public lands and the board of natural resources to maximize the benefits of the common school construction trust lands so as to provide adequate facilities for K-12 education.  Reduction of timber harvest has increased the need for the legislature to provide state matching funds for school facility needs from the general fund.  It is appropriate that the legislature ensure the commissioner of public lands and the board of natural resources are meeting their legal obligations to the trust.

NEW SECTION. Sec. 2.  The legislature directs the state auditor to conduct an independent audit of the fiduciary performance of the board of natural resources as related to trust governance and management of the common school construction trust lands by January 1, 1996.

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