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                                         SENATE JOINT RESOLUTION NO. 8216

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State of Washington                               51st Legislature                              1989 Regular Session

By Senators Hayner, Smitherman, Bluechel, Rasmussen, Newhouse, Cantu, Moore, Benitz, Stratton, McCaslin and Lee

Read first time 2/6/89 and referred to Committee on Ways & Means.

BE IT RESOLVED, BY THE SENATE AND HOUSE OF REPRESENTATIVES OF THE STATE OF WASHINGTON, IN LEGISLATIVE SESSION ASSEMBLED:

          THAT, At the next general election to be held in this state there shall be submitted to the qualified voters of the state for their approval and ratification, or rejection, an amendment to Article XXIX of the Constitution of the state of Washington by adding a new section to read as follows:

Article XXIX, section 2.      The assets of any trust funds which are held by the state may be invested only for the purpose of maximizing return at a prudent level of risk and for no other purposes.  However, the provisions of this section shall not prevent the state from establishing investment policies and procedures which are intended to limit fluctuations in industrial insurance premiums.

BE IT FURTHER RESOLVED, That the secretary of state shall cause notice of the foregoing constitutional amendment to be published at least four times during the four weeks next preceding the election in every legal newspaper in the state.