BILL REQ. #: H-2309.1
| State of Washington | 59th Legislature | 2005 Regular Session |
Read first time 03/04/2005. Referred to Committee on State Government Operations & Accountability.
AN ACT Relating to purchasing of fuel for use by state agencies; adding a new section to chapter 43.19 RCW; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 43.19 RCW
to read as follows:
The director of general administration through the division of
purchasing, in consultation with the state investment board and the
state treasurer's office, may explore and implement strategies designed
to reduce the overall cost of fuel and mitigate the impact of market
fluctuations and pressure on both short-term and long-term fuel costs.
These strategies may include but are not limited to futures contracts,
swap transactions, option contracts, costless collars, and long-term
storage.
NEW SECTION. Sec. 2 This act is necessary for the immediate
preservation of the public peace, health, or safety, or support of the
state government and its existing public institutions, and takes effect
immediately.