RES 88-35 INVESTMENT OF CITY OF WINSLOW MONIES IN KC TREASURER'S INVESTMENT POOL RESOLUTION NO. 88-35
A RESOLUTION AUTHORIZING INVESTMENT OF CITY OF
WINSLOW MONIES IN THE KITSAP COUNTY TREASURER' S
INVESTMENT POOL.
WHEREAS, the City of Winslow periodically has undistributed
property tax receipts on deposit with the Kitsup County Treasurer; and
WHEREAS, Chapter 36.29 RCW allows the City to Authorize the
County Treasurer to invest monies on its behalf in a pooled format; and
WHEREAS, investment of the City's undistributed property tax
receipts in the Kitsap County Treasurer's Inves~nent Pool has been
determined to be in the best interest of the City,
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City
of Winslow does hereby authorize the deposit and withdrawal of City of
Winslow monies in the Kitsap County Treasurer 's Investment Pool in
accordance with RCW 36.29,
BE IT FLrRTHER RESOLVED that the following City of Winslow Officers
shall be authorized to order the deposit of withdrawal of monies in the
Kitsap County Treasurer's Investment Pool: Clerk/Treasurer, Deputy Clerk,
and Deputy Treasurer.
PASS~]D AND ADOPTED by the City Council of the City of Winslow,
Washington, on this 15th day of December , 1988.
AI,ICE B. TAWRESEY, Mayor
ATTEST/AUTHENTICATE:
DONNA JEAN BUXTON, Clerk/Treasurer
36.29.010
Title 36 RCW: Counties
RRS § 4111. (iv) 1895 c 73 § 4; Code 1881 § 2744;
1863 p 553 § 7; 1854 p427 § 7; RRS § 4113. (v) Code
1881 § 2745; 1863 p 553 § 8; RRS § 4114. (vi) 1893 c
104 § 3; Code 1881 § 2748; 1863 p 554 § 11; 1854 p 428
§ 11; RRS § 4120. (vii) Code 1881 § 2750; 1863 p 554 §
I3; 1854 p 428 § 13; RRS § 4121. (viii) 1895 c 73 § 3;
RRS § 4122.]
36.29.020 Custodian of moneys Investment of
funds not required for immediate expenditures, service
fee. The county treasurer shall keep all moneys belong-
ing to the state, or to any county, in his or her own pos-
session until disbursed according to law. The county
treasurer shall not place the same in the possession of
any person to be used for any purpose; nor shall he or
she loan or in any manner use or permit any person to
use the same; but it shall be lawful for a county trea-
surer to deposit any such moneys in any regularly desig-
nated qualified public depositary. Any municipal
corporation may by action of its governing body author-
ize any of its funds which are not required for immedi-
ate expenditure, and which are in the custody of the
county treasurer or other municipal corporation trea-
surer, to be invested by such treasurer in savings or time
accounts in designated qualified public depositaries or in
certificates, notes, or bonds of the United States, or
other obligations of the United States or its agencies, or
of any corporation wholly owned by the government of
the United States; in bankers' acceptances purchased on
the secondary market, in federal home loan bank notes
and bonds, federal land bank bonds and federal national
mortgage association notes, debentures and guaranteed
certificates of participation, or the obligations of any
other government sponsored corporation whose obliga-
tions are or may become eligible as collateral for ad-
vances to member banks as determined by the board of
governors of the federal reserve system or deposit such
funds or any portion thereof in investment deposits as
defined in RCW 39.58.010 secured by collateral in ac-
cordance with the provisions of chapter 39.58 RCW:
ProvMed, Five percent of the interest or earnings, with
an annual maximum of fifty dollars, on any transactions
authorized by each resolution of the governing body
shall be paid as an investment service fee to the office of
the county treasurer or other municipal corporation
treasurer when the interest or earnings become available
to the governing body: Provided Further, That if such in-
vestment service fee amounts to five dollars or less the
county treasurer or other municipal corporation trea-
surer may waive such fee.
Whenever the funds of any municipal corporation
which are not required for immediate expenditure are in
the custody or control of the county treasurer, and the
governing body of such municipal corporation has not
taken any action pertaining to the investment of any
such funds, the county finance committee shall direct
the county treasurer to invest, to the maximum prudent
extent, such funds or any portion thereof in savings or
time accounts in designated qualified public depositaries
ITitle 36 RCW--p 521
or in certificates, notes, or bonds of the United States, or
other obligations of the United States or its agencies, or
of any corporation wholly owned by the government of
the United States, in bankers' acceptances purchased on
the secondary market, in federal home loan bank notes
and bonds, federal land bank bonds and federal national
mortgage association notes, debentures and guaranteed
certificates of participation, or the obligations of any
other government sponsored corporation whose obliga-
tions are or may become eligible as collateral for ad-
vances to member banks as determined by the board of
governors of the federal reserve system or deposit such
funds or any portion thereof in investment deposits as
defined in RCW 39.58.010 secured by collateral in ac-
cordance with the provisions of chapter 39.58 RCW:
Provided, That the county treasurer shall have the power
to select the specific qualified financial institution in
which said funds may be invested. The interest or other
earnings from such investments or deposits shall be de-
posited in the current expense fund of the county and
may be used for general county purposes. The invest-
ment or deposit and disposition of the interest or other
earnings therefrom authorized by this paragraph shall
not apply to such funds as may be prohibited by the
state Constitution from being so invested or deposited.
[1984 c 177 § 7; 1982 c 73 § 1; 1980 c 56 § 1; 1979 c 57
§ 1; 1973 1st ex.s. c 140 § 1; 1969 ex.s. c 193 § 26; 1967
c 173 § 1; 1965 c 11l § 2; 1963 c 4 § 36.29.020. Prior:
1961 c 254 § 1; 1895 c 73 § 1; RRS § 4112.]
Construction Severability 1969 ex.s. c 193: See notes follow-
ing RCW 39.58.010,
Liability of treasurers for losses on public deposits: RCW 39.58.
Public depositaries: Chapter 39.58 RCW.
36.29.022 Combining of moneys for investment.
Upon the request of one or several units of local govern-
ment that invest their money with the county under the
provisions of RCW 36.29.020, the treasurer of that
county may combine those units' moneys for the put-
poses of investment. [1986 c 294 § 11.]
36.29.025 Official seal. The county treasurer in each
of the organized counties of the state of Washington,
shall be by his county provided with a seal of office for
the authentication of all tax deeds, papers, writing and
documents required by law to be certified or authenti-
cated by him. Such seal shall bear the device of cross-
keys and the words: Official Seal Treasurer ..........
County, Washington; and an imprint of such seal, to-
gether with the certificate of the county treasurer that
such seal has been regularly adopted, shall be filed in
the office of the county auditor of such county. [1963 c
4 § 36.29.025. Prior: 1903 c 15 § 1; RRS § 4125.]
36.29.030 Order of redemption of warrants. All war-
rants drawn on the funds of the county shall be re-
deemed by the treasurer in the order of their issuance.
[1963 c 4 § 36.29.030. Prior: 1893 c 104 § 2; 1886 p 162
§ 1; Code 1881 § 2747; 1863 p 554 § 10; 1854 p 428 §
10; RRS § 4115.]
(1987 Ed,i