BILL REQ. #: Z-0386.1
State of Washington | 60th Legislature | 2007 Regular Session |
Read first time 01/31/2007. 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 the
secretary of state shall submit to the qualified voters of the state
for their approval and ratification, or rejection, an amendment to
Article XVI of the Constitution of the state of Washington by adding a
new section to read as follows:
Article XVI, section ..... INVESTMENT OF HIGHER EDUCATION PERMANENT
FUNDS. Notwithstanding the provisions of Article VIII, sections 5 and
7 and Article XII, section 9, or any other section or article of the
Constitution of the state of Washington, the moneys of the permanent
funds established for any of the institutions of higher education in
this state, including the university permanent fund, the scientific
school permanent fund, the agricultural college permanent fund, and the
normal school permanent fund, may be invested as authorized by law.
Without limitation, this shall include the authority to invest
permanent funds held for the benefit of institutions of higher
education in stocks or bonds issued by any association, company, or
corporation if authorized by law.
BE IT FURTHER RESOLVED, That the secretary of state shall cause
notice of this constitutional amendment to be published at least four
times during the four weeks next preceding the election in every legal
newspaper in the state.