S-1154.1

SENATE BILL 5853


State of Washington	64th Legislature	2015 Regular Session

By Senators Rivers, Dansel, King, and Hasegawa

Read first time 02/05/15. Referred to Committee on Government Operations & Security.

(1)(a) The county treasurer is a Washington state constitutional officer that serves as the local treasury authority. The county treasurer represents the state of Washington, the county he or she serves, and is the ex officio treasurer for taxing districts including, but not limited to, school, port, fire, library, cemetery, drainage, diking, metropolitan park, and hospital districts.

(b) The county treasurer is responsible for providing treasury services by accounting and managing the public's money. These services include, but are not limited to: (i) Receiving moneys; (ii) providing billing and collection services, and dispersing of property and real estate excise taxes, assessments, fees, rates, or charges; (iii) providing cash management services; (iv) providing banking services; (v) providing debt management services; and (vi) investing to provide safety, liquidity, and preservation of capital for municipal corporations to meet their financial obligations. The county treasurer also prepares financial reports related to treasury management for the county and taxing districts within the county.

(c) The county treasurer's custodial responsibility begins when moneys are collected by the county treasurer, or within one business day of when moneys are either collected by a public officer from a county department, junior taxing district, or other public agency, or are deposited in an approved financial institution, or both.

(((1))) (a) Shall receive all money due the county and disburse it on warrants issued and attested by the county auditor and electronic funds transfer under RCW 39.58.750 as attested by the county auditor;

(((2))) (b) Shall issue a receipt in duplicate for all money received other than taxes; the treasurer shall deliver immediately to the person making the payment the original receipt and the duplicate shall be retained by the treasurer;

(((3))) (c) Shall affix on the face of all paid warrants the date of redemption or, in the case of proper contract between the treasurer and a qualified public depositary, the treasurer may consider the date affixed by the financial institution as the date of redemption;

(((4))) (d) Shall endorse, before the date of issue by the county or by any taxing district for whom the county treasurer acts as treasurer, on the face of all warrants for which there are not sufficient funds for payment, "interest bearing warrant." When there are funds to redeem outstanding warrants, the county treasurer shall give notice:

(((6))) (f) Shall maintain financial records reflecting receipts and disbursement by fund in accordance with generally accepted accounting principles;

(((7))) (g) Shall account for and pay all bonded indebtedness for the county and all special districts for which the county treasurer acts as treasurer;

(((8))) (h) Shall invest all funds of the county or any special district in the treasurer's custody, not needed for immediate expenditure, in a manner consistent with appropriate statutes. If cash is needed to redeem warrants issued from any fund in the custody of the treasurer, the treasurer shall liquidate investments in an amount sufficient to cover such warrant redemptions; ((and

(j) May provide treasury management services for a state department or agency or other municipal corporation not currently prescribed in law by entering into an intergovernmental service agreement in accordance with chapter 39.34 RCW; and

(k) At the expiration of the term of office, shall make a complete settlement with the county legislative authority, and shall deliver to the successor all public money, books, and papers in the treasurer's possession.

(3) Money received by all entities for whom the county treasurer serves as treasurer must be deposited within twenty-four hours in an account designated by the county treasurer unless a waiver is granted by the county treasurer in accordance with RCW 43.09.240.

(1) Managing the preparation of a county official statement for issuing short and long-term debt obligations, including coordinating with associated professional providers of financial advisory, underwriting, and legal services to obtain the necessary initial disclosure information;

(2) Accounting for and facilitating the payment of all bonded indebtedness for the county and the special districts for which the county treasurer acts as treasurer;

(5) Monitoring initial and postissuance compliance for county debt with Title 39 RCW and all applicable rules and regulations governing the issuance of county debt by the United States internal revenue service, the municipal securities rulemaking board, and the United States securities and exchange commission; and

(6) Coordinating distribution of information to the electronic municipal market access system of the municipal securities rulemaking board regarding the county's financial condition and affairs at times and in the form required by law, regulation, and general practice and as provided in the county's continuing disclosure undertakings with respect to outstanding county debt.