BILL REQ. #:  S-0787.1 

Read first time 01/26/09.   Referred to Committee on Government Operations & Elections.

     AN ACT Relating to the investment expenses of counties; and amending RCW 36.29.024.

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

Sec. 1   RCW 36.29.024 and 2004 c 79 s 3 are each amended to read as follows:
     The county treasurer may deduct the amounts necessary to reimburse the treasurer's office for the actual expenses the office incurs and to repay any county funds appropriated and expended for the initial administrative costs of establishing a county investment pool provided in RCW 36.29.022. These funds shall be used by the county treasurer as a revolving fund to defray the cost of administering the pool without regard to budget limitations. Any credits or payments to political subdivisions shall be calculated and made in a manner which equitably reflects the differing amounts of the political subdivision's respective deposits in the county investment pool and the differing periods of time for which the amounts were placed in the county investment pool. As used in this section "actual expenses" include only the county's direct and out-of-pocket costs and do not include indirect or loss of opportunity costs.