BILL REQ. #:  H-0699.1 

Read first time 01/23/13.   Referred to Committee on Local Government.

     AN ACT Relating to transparency, accountability, and uniformity for county treasurers; and adding new sections to chapter 36.29 RCW.

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

NEW SECTION.  Sec. 1   (1) The county treasurer is a Washington state constitutional officer that serves as the local treasury authority, which represents the state of Washington, the county and is the ex officio treasurer for taxing districts which includes, school, port, fire, library, cemetery, drainage, diking, metropolitan park, and hospital districts.
     (2) The county treasurer is responsible to provide treasury services by accounting and managing the public's money including: Receipting moneys; billing, collection, and dispersing of property and real estate excise taxes, assessments, fees, rates, or charges; cash management; banking services; debt management; and investing to ensure cash liquidity for municipal corporations to meet their financial obligations.
     (3) The treasurer shall prepare financial reports related to treasury management for the county and taxing districts. The treasurer's responsibility starts at the time moneys are collected by the treasurer or within one business day when collected by a public officer or deposited in an approved financial institution from a county department, junior taxing district, or other public agency as per RCW 43.09.240.
     (4) The county treasurer is authorized to provide treasury management services for a state department or agency or other municipal corporation not currently proscribed in law by entering into an intergovernmental service agreement per chapter 39.34 RCW.

NEW SECTION.  Sec. 2   The county treasurer responsibilities include:
     (1) In order to obtain the necessary initial disclosure information, coordinate with associated professional providers of financial advisory, underwriting, and legal services in the preparation of county official statements for issuing short and long-term debt obligations;
     (2) Account for and facilitate the payment of all bonded indebtedness for the county and all special districts for which the county treasurer acts as treasurer;
     (3) Determine the current available debt capacity of the county and its junior taxing districts;
     (4) Monitor opportunities to retire or refund county debt;
     (5) Monitor initial and postissuance compliance with Title 39 RCW and all applicable internal revenue service, municipal securities rulemaking board, and securities and exchange commission rules and regulations governing the issuance of county debt; and
     (6) Coordinate distribution to the electronic municipal market access system of the municipal securities rulemaking board information regarding the county's financial condition and affairs at such times and in the form required by law, regulation, general practice, and provided in the county's continuing disclosure undertakings with respect to outstanding county debt.

NEW SECTION.  Sec. 3   Sections 1 and 2 of this act are each added to chapter 36.29 RCW.