title: RCW 39.53.040

text:
Bonds may be refunded under this chapter or under any other law of this state which authorizes the issuance of refunding bonds. In any refunding plan under this chapter the governing body shall provide irrevocably in the ordinance authorizing the issuance of the advance refunding bonds for the redemption or payment of the bonds to be refunded.
The ordinance authorizing the issuance of refunding bonds under this chapter may contain such provisions for the redemption of the refunding bonds prior to maturity and for payment of a premium upon such redemption as the governing body in its discretion may determine advisable.
[ 1999 c 230 s 4; 1977 ex.s. c 262 s 2; 1973 1st ex.s. c 25 s 3; 1965 ex.s. c 138 s 5.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: What bonds may be refunded—Refunding plans—Redemption of refunding bonds.


doc_type: statute

jurisdiction: wa

title: RCW 39.53.045

text:
Bonds payable solely from special assessments or special assessments and a guaranty fund issued on or prior to June 7, 1984, shall not be subject to refunding under this chapter.
[ 1984 c 186 s 69.]
Notes:
Purpose—1984 c 186: See note following RCW 39.46.110.

license: public-domain-government-work

rule_set: Revised Code of Washington

catchline: Bonds payable from special assessments—Not subject to refunding.

code: rcw

unit: section

court: Washington State Legislature


title: RCW 39.53.050

text:
The principal amount of refunding bonds may exceed the principal amount of the bonds to be refunded by an amount deemed reasonably required to effect such refunding. The principal amount of the refunding bonds may be less than or the same as the principal amount of the bonds to be refunded so long as provision is duly and sufficiently made for the retirement or redemption of such bonds to be refunded. Any reserves held to secure the bonds to be refunded, or other available money, may be used to accomplish the refunding in accordance with the refunding plan. Reserves not so used shall be pledged as security for the refunding bonds to the extent the reserves, if any, are required. The balance of any such reserves may be used for any lawful purpose.
[ 1999 c 230 s 5; 1983 1st ex.s. c 69 s 1; 1977 ex.s. c 262 s 3; 1974 ex.s. c 111 s 3; 1965 ex.s. c 138 s 6.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.
Severability—1974 ex.s. c 111: See note following RCW 39.42.080.

catchline: Refunding bonds, principal amount—Disposition of reserves held to secure the bonds to be refunded.


title: RCW 39.53.060

text:
Prior to the application of the proceeds derived from the sale of refunding bonds to the purposes for which such bonds have been issued, such proceeds, together with any other funds the governing body may set aside for the payment of the bonds to be refunded, may be invested and reinvested only in government obligations maturing or having guaranteed redemption prices at the option of the holder at such time or times as may be required to provide funds sufficient to pay principal, interest and redemption premiums, if any, in accordance with the refunding plan. To the extent incidental expenses have been capitalized, such bond proceeds may be used to defray such expenses.
[ 1999 c 230 s 6; 1973 1st ex.s. c 25 s 4; 1965 ex.s. c 138 s 7.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Application of proceeds of sale of refunding bonds and other funds—Investment in government obligations—Incidental expenses.


title: RCW 39.53.070

text:
The governing body may contract with respect to the safekeeping and application of the refunding bond proceeds and other funds included therewith and the income therefrom including the right to appoint a trustee which may be any trust company or state or national bank having powers of a trust company within or without the state of Washington. The governing body may provide in the refunding plan that until such moneys are required to redeem or retire the bonds to be refunded, the refunding bond proceeds and other funds, and the income therefrom shall be used to pay and secure the payment of the principal of and interest on the refunding bonds. The governing body may additionally pledge for the payment of revenue refunding bonds any revenues which might legally be pledged for the payment of revenue bonds of the issuer of the type to be refunded. Provisions must be made by the governing body for moneys sufficient in amount to accomplish the refunding as scheduled.
[ 1999 c 230 s 7; 1973 1st ex.s. c 25 s 5; 1965 ex.s. c 138 s 8.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Application of proceeds of sale of refunding bonds and other funds—Contracts for safekeeping and application—Use to pay and secure refunding bonds—Pledge of revenues—Duty to provide sufficient money to accomplish refunding.


title: RCW 39.53.080

text:
When a public body has irrevocably set aside for and pledged to the payment of revenue bonds to be refunded refunding bond proceeds and other moneys in amounts which together with known earned income from the investment thereof are sufficient in amount to pay the principal of and interest and any redemption premiums on such revenue bonds as the same become due and to accomplish the refunding as scheduled, the governing body may provide that the refunding revenue bonds shall be payable from any source which, either at the time of the issuance of the refunding bonds or the revenue bonds to be refunded, might legally be or have been pledged for the payment of the revenue bonds to be refunded to the extent it may legally do so, notwithstanding the pledge of such revenues for the payment of the revenue bonds to be refunded.
[ 1999 c 230 s 8; 1965 ex.s. c 138 s 9.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Pledge of revenues to payment of refunding bonds when amounts sufficient to pay revenue bonds to be refunded are irrevocably set aside.


title: RCW 39.53.090

text:
The various annual maturities of general obligation refunding bonds issued to refund voted general obligation bonds shall not extend over a longer period of time than the bonds to be refunded. Such maturities may be changed in amount or shortened in term if the estimated respective annual principal and interest requirements of the refunding bonds, computed upon the anticipated effective interest rate the governing body shall in its discretion determine will be borne by such bonds, will not exceed the respective annual principal and interest requirements of the bonds to be refunded, except the issuer may increase the principal amount of annual maturities for the purpose of rounding out maturities to the nearest five thousand dollars.
[ 1999 c 230 s 9; 1965 ex.s. c 138 s 10.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Annual maturities of general obligation refunding bonds issued to refund voted general obligation bonds.


title: RCW 39.53.100

text:
In computing indebtedness for the purpose of any constitutional or statutory debt limitation there shall be deducted from the amount of outstanding indebtedness the amounts of money and investments credited to or on deposit for general obligation bond retirement.
[ 1973 1st ex.s. c 25 s 6; 1965 ex.s. c 138 s 11.]

catchline: Use of deposit moneys and investments in computing indebtedness.


title: RCW 39.53.110

text:
Refunding bonds and bonds for any other purpose or purposes authorized may be issued separately or issued in combination in one or more series or issues by the same issuer.
[ 1999 c 230 s 10; 1965 ex.s. c 138 s 12.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Refunding and other bonds may be issued in combination.


title: RCW 39.53.120

text:
(1) Except as specifically provided in this chapter, refunding bonds issued under this chapter shall be issued in accordance with the provisions of law applicable to the type of bonds of the issuer to be refunded, at the time of the issuance of either the refunding bonds or the bonds to be refunded.
(2) Any refunding bonds hereafter issued by the state of Washington to refund highway bonds that were issued under a highway bond act prior to June 9, 2022, or to refund refunding bonds issued under the refunding bond act prior to June 9, 2022, to refund highway bonds issued under a highway bond act prior to June 9, 2022, shall be issued in accordance with the provisions of law applicable to highway bonds at the time of the issuance of the refunding bonds.
(3) For all refunding bonds previously or hereafter issued by the state of Washington under this chapter, the state treasurer shall transfer from the designated funds or accounts the amount necessary for the payment of principal of and interest on the refunding bonds to the applicable bond retirement account for such refunding bonds on each date on which the interest or principal and interest payment is due on such refunding bonds unless an earlier transfer date, as determined by the state finance committee, is necessary or appropriate to the financial framework of the refunding bonds.
[ 2022 c 103 s 34; 2005 c 487 s 7; 1999 c 230 s 11; 1965 ex.s. c 138 s 13.]
Notes:
Intent—2022 c 103: See note following RCW 47.10.908.
Effective date—2005 c 487: See RCW 43.99S.901.
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.

catchline: Refunding bonds to be issued in accordance with laws applicable to type of bonds to be refunded—Transfer of funds to applicable bond retirement account.


title: RCW 39.53.130

text:
If bonds are to be issued under this chapter for refunding of any bonds issued specifically to finance any electric power and energy project or facility and there are contracts in existence for the sale of electric power and energy generated by such project or facility wherein the cost of power to a purchaser specifically includes a portion of the debt service on the bonds to be refunded, such power contracts shall be amended to reflect in each year during the remaining terms of such contracts that portion of the savings to be realized from such refunding during each such year equal to the percentage of power output from such project or facility purchased by the purchaser under such power contracts. Nothing in this chapter shall be construed to alter, modify or change any such power contracts without the mutual agreement of the parties thereto.
[ 1965 ex.s. c 138 s 15.]

catchline: Amendment of power contracts pursuant to refunding of certain bond issues.


title: RCW 39.53.140

text:
Any public body may issue general obligation refunding bonds to refund any general obligation or revenue bonds of such issuer or its agencies or instrumentalities. The payment of general obligation refunding bonds may be additionally secured by a pledge of the revenues pledged to the payment of the revenue bonds to be refunded.
If the payment of revenue bonds to be refunded by general obligation bonds of the state is secured by (1) fees collected by the state as license fees for motor vehicles, or (2) excise taxes collected by the state on the sale, distribution or use of motor vehicle fuel, or (3) interest on the permanent school fund, then the state shall also pledge to the payment of such refunding bonds the same fees, excise taxes, or interest that were pledged to the payment of the revenue bonds to be refunded.
Any public body may issue revenue refunding bonds to refund any general obligation of such issuer or its agencies or instrumentalities if the bonds to be refunded were issued for purposes for which those revenue refunding bonds could be issued.
[ 1999 c 230 s 12; 1974 ex.s. c 111 s 4; 1973 1st ex.s. c 25 s 7.]
Notes:
Application—Construction—Severability—1999 c 230: See notes following RCW 39.53.010.
Severability—1974 ex.s. c 111: See note following RCW 39.42.080.

catchline: Issuance of general obligation refunding bonds to refund general obligation or revenue bonds.


title: RCW 39.53.900

text:
This chapter shall be known as the "Refunding Bond Act."
[ 1965 ex.s. c 138 s 1.]

catchline: Short title.


title: RCW 39.53.910

text:
The authority of a public body to issue refunding bonds pursuant to this chapter is additional to any existing authority to issue such bonds and nothing in this chapter shall prevent the issuance of such bonds pursuant to any other law, and this chapter shall not be construed to amend any existing law authorizing the issuance of refunding bonds by a public body.
[ 1965 ex.s. c 138 s 14.]

catchline: Additional authority—Effect as to other laws.


title: RCW 39.56.020

text:
All county, city, town and school warrants, and all warrants or other evidences of indebtedness, drawn upon or payable from any public funds, shall bear interest at a rate or rates as authorized by the issuing authority.
[ 1970 ex.s. c 56 s 106; 1899 c 80 s 4; RRS s 7302. Prior: 1895 c 136 s 3.]
Notes:
Purpose—1970 ex.s. c 56: See note following RCW 39.52.020.
Cities and towns, local improvement district warrants, interest rate: RCW 35.45.130.

catchline: Rate on municipal warrants.


title: RCW 39.56.030

text:
It shall be the duty of every public officer issuing public warrants to make monthly investigation to ascertain the market value of the current warrants issued by him or her, and he or she shall, so far as practicable, fix the rate of interest on the warrants issued by him or her during the ensuing month so that the par value shall be the market value thereof.
[ 2011 c 336 s 810; 1981 c 156 s 16; 1981 c 10 s 4; 1899 c 80 s 5; RRS s 7303.]

catchline: Issuing officer to fix rate.


title: RCW 39.56.040

text:
Registered or interest bearing warrants of any municipal corporation not presented within one year of the date of their call, or other warrants not presented within one year of their issue, shall be canceled by passage of a resolution of the governing body of the municipal corporation, and upon notice of the passage of such resolution the auditor of the municipal corporation and the treasurer of the municipal corporation shall transfer all records of such warrants so as to leave the funds as if such warrants had never been drawn.
[ 1975 1st ex.s. c 131 s 1.]

catchline: Cancellation of municipal warrants.


title: RCW 39.58.010

text:
In this chapter, unless the context otherwise requires:
(1) "Capitalization" means the measure or measures of capitalization, other than net worth, of a depositary applying for designation as or operating as a public depositary pursuant to this chapter, based upon regulatory standards of financial institution capitalization adopted by rule or resolution of the commission after consultation with the director of the department of financial institutions;
(2) "Collateral" means the particular assets pledged as security to insure payment or performance of the obligations under this chapter as enumerated in RCW 39.58.050;
(3) "Commission" means the Washington public deposit protection commission created under RCW 39.58.030;
(4) "Commission report" means a formal accounting rendered by all public depositaries to the commission in response to a demand for specific information made by the commission detailing pertinent affairs of each public depositary as of the close of business on a specified date, which is the "commission report date." "Commission report due date" is the last day for the timely filing of a commission report;
(5) "Depositary pledge agreement" means a tripartite agreement executed by the commission with a financial institution and its designated trustee. Such agreement shall be approved by the directors or the loan committee of the financial institution and shall continuously be a record of the financial institution. New securities may be pledged under this agreement in substitution of or in addition to securities originally pledged without executing a new agreement;
(6) "Director of the department of financial institutions" means the Washington state director of the department of financial institutions;
(7) "Eligible collateral" means the securities or letters of credit enumerated in RCW 39.58.050 (5), (6), and (7);
(8) "Financial institution" means any national or state chartered commercial bank or trust company, savings bank, savings association, or federal or state chartered credit union, or branch or branches thereof, located in this state and lawfully engaged in business;
(9) "Investment deposits" means time deposits, money market deposit accounts, and savings deposits of public funds available for investment. "Investment deposits" do not include time deposits represented by a transferable or a negotiable certificate, instrument, passbook, or statement, or by book entry or otherwise;
(10) "Liquidity" means the measure or measures of liquidity of a depositary applying for designation as or operating as a public depositary pursuant to this chapter, based upon regulatory standards of financial institution liquidity adopted by rule or resolution of the commission after consultation with the director of the department of financial institutions;
(11) "Loss" means the issuance of an order by a regulatory or supervisory authority or a court of competent jurisdiction (a) restraining a public depositary from making payments of deposit liabilities or (b) appointing a receiver for a public depositary;
(12) "Maximum liability," with reference to a public depositary's liability under this chapter for loss per occurrence by another public depositary, on any given date means:
(a) A sum equal to ten percent of:
(i) All uninsured public deposits held by a public depositary that has not incurred a loss by the then most recent commission report date; or
(ii) The average of the balances of said uninsured public deposits on the last four immediately preceding reports required pursuant to RCW 39.58.100, whichever amount is greater; or
(b) Such other sum or measure as the commission may from time to time set by resolution according to criteria established by rule, consistent with the commission's broad administrative discretion to achieve the objective of RCW 39.58.020.
As long as the uninsured public deposits of a public depositary are one hundred percent collateralized by eligible collateral as provided for in RCW 39.58.050, the "maximum liability" of a public depositary that has not incurred a loss may not exceed the amount set forth in (a) of this subsection.
This definition of "maximum liability" does not limit the authority of the commission to adjust the collateral requirements of public depositaries pursuant to RCW 39.58.040;
(13) "Net worth" of a public depositary means (a) the equity capital as reported to its primary regulatory authority on the quarterly report of condition or statement of condition, or other required report required by its primary regulatory authority or federal deposit insurer, and may include capital notes and debentures which are subordinate to the interests of depositors, or (b) equity capital adjusted by rule or resolution of the commission after consultation with the director of the department of financial institutions;
(14) "Public deposit" means public funds on deposit with a public depositary;
(15) "Public depositary" means a financial institution that has been approved by the commission to hold public deposits, and has segregated, for the benefit of the commission, eligible collateral having a value of not less than its maximum liability;
(16) "Public funds" means moneys under the control of a treasurer, the state treasurer, or custodian belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees, including moneys held as trustee, agent, or bailee belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees;
(17) "Public funds available for investment" means such public funds as are in excess of the anticipated cash needs throughout the duration of the contemplated investment period;
(18) "State public depositary" means a Washington state-chartered financial institution that is authorized as a public depositary under this chapter;
(19) "State treasurer" means the treasurer of the state of Washington;
(20) "Treasurer" means a county treasurer, a city treasurer, a treasurer of any other municipal corporation, and any other custodian of public funds, except the state treasurer;
(21) "Trustee" means a third-party safekeeping agent which has completed a depositary pledge agreement with a public depositary and the commission. Such third-party safekeeping agent may be a federal home loan bank, or such other third-party safekeeping agent approved by the commission.
[ 2018 c 237 s 1; 2016 c 152 s 1; 2009 c 9 s 1; 1996 c 256 s 1; 1994 c 92 s 494; 1984 c 177 s 10; 1983 c 66 s 3; 1977 ex.s. c 95 s 1; 1975 1st ex.s. c 77 s 1; 1973 c 126 s 9; 1969 ex.s. c 193 s 1.]
Notes:
Alphabetization—2009 c 9: "The code reviser shall alphabetize and renumber the definitions in RCW 39.58.010." [ 2009 c 9 s 19.]
Effective date—2009 c 9: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [March 6, 2009]." [ 2009 c 9 s 20.]
Severability—1983 c 66: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1983 c 66 s 24.]
Severability—1969 ex.s. c 193: "If any provision of this act, or its application to any person or circumstance is held invalid, the remainder of this act, or the application of the provision to other persons or circumstances is not affected." [ 1969 ex.s. c 193 s 32.]
Construction—1969 ex.s. c 193: "Nothing in this act shall be construed so as to impair the obligation of any contract or agreement entered into prior to its effective date." [ 1969 ex.s. c 193 s 33.]
City depositaries: Chapter 35.38 RCW.
County depositaries: Chapter 36.48 RCW.
State depositaries: Chapter 43.85 RCW.

catchline: Definitions.


title: RCW 39.58.020

text:
All public funds deposited in public depositaries, including investment deposits and accrued interest thereon, shall be protected against loss, as provided in this chapter.
[ 1996 c 256 s 2; 1984 c 177 s 11; 1983 c 66 s 5; 1973 c 126 s 10; 1969 ex.s. c 193 s 2.]
Notes:
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Public funds—Protection against loss.


title: RCW 39.58.030

text:
The Washington public deposit protection commission shall be the state finance committee. The record of the proceedings of the public deposit protection commission shall be kept in the office of the commission and a duly certified copy thereof, or any part thereof, shall be admissible in evidence in any action or proceedings in any court of this state.
[ 1983 c 66 s 6; 1969 ex.s. c 193 s 3.]
Notes:
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Public deposit protection commission—State finance committee constitutes—Proceedings.


title: RCW 39.58.040

text:
The commission shall have the power and broad administrative discretion:
(1) To make and enforce regulations necessary and proper to the full and complete performance of its functions under this chapter;
(2) To require any public depositary to furnish such information dealing with public deposits and the exact status of its capitalization, collateral, liquidity, and net worth as the commission shall request;
(3) To take such action as it deems best for the protection, collection, compromise or settlement of any claim arising in case of loss;
(4) To fix by rule or resolution, consistent with this chapter, the requirements for initial and continued qualification of financial institutions as public depositaries on the basis of a depositary's financial condition, including its capitalization, collateral, liquidity, and net worth, and fixing other terms and conditions consistent with this chapter, under which public deposits may be received and held;
(5) To make and enforce rules setting forth criteria for the establishment by policy of standards governing matters that are subject to the commission's powers to fix requirements, terms, and conditions under subsection (4) of this section for a public depositary, and, if these standards are not met, providing for additional collateral or other conditional or unconditional requirements or restrictions applicable to the public depositary's right to receive or hold public deposits;
(6) To require additional or different types and amounts of collateral, or to restrict a public depositary's right to receive or hold public deposits if the standards for the financial condition of public depositaries are not met;
(7) To fix the official date on which any loss shall be deemed to have occurred taking into consideration the orders, rules, and regulations of the supervisory authority of a public depositary's primary regulatory authority and federal deposit insurer as they affect the failure or inability of a public depositary to repay public deposits in full;
(8) In case loss occurs in more than one public depositary, to determine the allocation and time of payment of any sums due to public depositors under this chapter; and
(9) To make and enforce sanctions against a public depositary for noncompliance with the provisions of this chapter and rules or policies of the commission.
[ 2009 c 9 s 2; 1996 c 256 s 3; 1986 c 25 s 2; 1984 c 177 s 12; 1983 c 66 s 7; 1975 1st ex.s. c 77 s 2; 1969 ex.s. c 193 s 4.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: General powers of commission.


title: RCW 39.58.050

text:
(1) Every public depositary shall complete a depositary pledge agreement with the commission and a trustee, and shall at all times maintain, segregated from its other assets, eligible collateral having a value at least equal to its maximum liability and as otherwise prescribed in this chapter. Eligible securities used as collateral shall be segregated by deposit with the depositary's trustee and shall be clearly designated as security for the benefit of public depositors under this chapter.
(2) Securities eligible as collateral shall be valued at market value, and the total market value of securities pledged in accordance with this chapter shall not be reduced by withdrawal or substitution of securities except by prior authorization, in writing, by the commission.
(3) The public depositary shall have the right to make substitutions of an equal or greater amount of eligible securities at any time.
(4) The income from the securities which have been segregated as collateral shall belong to the public depositary without restriction.
(5) Each of the following enumerated classes of securities, providing there has been no default in the payment of principal or interest thereon, shall be eligible to qualify as collateral:
(a) 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;
(b) State, county, municipal, or school district bonds or warrants of taxing districts of the state of Washington or any other state of the United States, provided that such bonds and warrants shall be only those found to be within the limit of indebtedness prescribed by law for the taxing district issuing them and to be general obligations;
(c) The obligations of any United States government-sponsored corporation whose obligations are or may become eligible as collateral for advances to member banks as determined by the board of governors of the federal reserve system;
(d) Bonds, notes, or other securities or evidence of indebtedness constituting the direct and general obligation of a federal home loan bank or federal reserve bank;
(e) Revenue bonds of this state or any authority, board, commission, committee, or similar agency thereof, and any municipality or taxing district of this state;
(f) Direct and general obligation bonds and warrants of any city, town, county, school district, port district, or other political subdivision of any state, having the power to levy general taxes, which are payable from general ad valorem taxes;
(g) Bonds issued by public utility districts as authorized under the provisions of Title 54 RCW, as now or hereafter amended;
(h) Bonds of any city of the state of Washington for the payment of which the entire revenues of the city's water system, power and light system, or both, less maintenance and operating costs, are irrevocably pledged, even though such bonds are not general obligations of such city.
(6) In addition to the securities enumerated in this section, the commission may also accept as collateral a letter of credit from a federal home loan bank or a federal reserve bank on behalf of a public depositary, naming the commission as beneficiary. Such letters are not subject to a completed depositary pledge agreement. As such, the commission must act as the safekeeping agent for letters of credit.
(7) A public depositary may also segregate such bonds, securities, and other obligations as are designated to be authorized security for public deposits under the laws of this state.
(8) The commission may determine by rule or resolution whether any security, whether or not enumerated in this section, is or shall remain eligible as collateral when in the commission's judgment it is desirable or necessary to do so.
[ 2016 c 152 s 2; 2009 c 9 s 4; 1996 c 256 s 4; 1989 c 97 s 4; 1984 c 177 s 13; 1983 c 66 s 8; 1975 1st ex.s. c 77 s 3; 1973 c 126 s 11; 1969 ex.s. c 193 s 5.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Collateral for deposits—Segregation—Eligible securities.


title: RCW 39.58.060

text:
When the commission determines that a loss has occurred in a public depositary, it shall as soon as possible make payment to the proper public officers of all funds subject to such loss, pursuant to the following procedures:
(1) For the purposes of determining the sums to be paid, the director of the department of financial institutions or the receiver shall, within twenty days after issuance of a restraining order or taking possession of any public depositary, ascertain the amount of public funds on deposit therein as disclosed by its records and the amount thereof covered by deposit insurance and provide written verification of the amounts thereof to the commission and each public depositor;
(2) Within ten days after receipt of written verification, each public depositor shall furnish to the commission verified statements of its deposits in the public depositary, including the uninsured and uncollateralized status of the public deposits, as disclosed by its records;
(3) Upon receipt of written verification and statements, the commission shall ascertain and fix the amount of the public deposits, net after deduction of any amount received from deposit insurance and held collateral, and, after determining and declaring the apparent net loss, assess the same against all public depositaries, as follows: First, against the public depositary in which the loss occurred, to the extent of the full value of collateral segregated pursuant to this chapter; second, against all other public depositaries pro rata in proportion to the maximum liability of each depositary as it existed on the date of loss;
(4) Assessments made by the commission shall be payable on the second business day following demand, and in case of the failure of any public depositary so to pay, the commission shall take possession of the securities segregated as collateral by the depositary pursuant to this chapter and liquidate the same for the purpose of paying such assessment;
(5) Upon receipt of the assessment payments, the commission shall reimburse the public depositors of the public depositary in which the loss occurred to the extent of the depositary's net deposit liability to them;
(6) Any owner of public deposits receiving assessment proceeds shall provide a receivership certificate to the commission.
[ 2009 c 9 s 5; 1996 c 256 s 5; 1983 c 66 s 9; 1973 c 126 s 12; 1969 ex.s. c 193 s 6.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Loss in a public depositary—Procedure for payment.


title: RCW 39.58.070

text:
Upon payment to any public depositor, the commission shall be subrogated to all of such depositor's right, title and interest against the public depositary in which the loss occurred and shall share in any distribution of its assets ratably with other depositors. Any sums received from any distribution shall be paid to the public depositors to the extent of any unpaid net deposit liability and the balance remaining shall be paid to the public depositaries against which assessments were made, pro rata in proportion to the assessments actually paid by each such depositary: PROVIDED, That the public depositary in which the loss occurred shall not share in any such distribution of the balance remaining. If the commission incurs expense in enforcing any such claim, the amount thereof shall be paid as a liquidation expense of the public depositary in which the loss occurred.
[ 1996 c 256 s 7; 1973 c 126 s 13; 1969 ex.s. c 193 s 7.]

catchline: Subrogation of commission to depositor's rights—Sums received from distribution of assets, payment.


title: RCW 39.58.080

text:
(1) Except for funds deposited pursuant to a fiscal agency contract with the state fiscal agent or its correspondent bank, funds deposited pursuant to a custodial bank contract with the state's custodial bank, and funds deposited pursuant to a local government multistate joint self-insurance program as provided in RCW 48.62.081, no public funds shall be deposited in demand or investment deposits except in a public depositary located in this state or as otherwise expressly permitted by statute: PROVIDED, That the commission, or the chair upon delegation by the commission, upon good cause shown, may authorize, for such time and upon such terms and conditions as the commission or chair deem appropriate, a treasurer to maintain a demand deposit account with a banking institution located outside the state of Washington solely for the purpose of transmitting money received to public depositaries in the state of Washington for deposit.
(2) Notwithstanding subsection (1) of this section, the commission, or the chair upon delegation by the commission, upon good cause shown, may authorize, for that time and upon the terms and conditions as the commission or chair deems appropriate, a treasurer to maintain a demand deposit account with a banking institution located outside the state of Washington for deposit of certain higher education endowment funds, for a specified instructional program or research project being performed outside the state of Washington.
(3) Notwithstanding subsection (1) of this section, public funds may be deposited in institutions located outside of Washington state if the following conditions are met:
(a) The funds must initially be deposited in a public depositary selected by the state or local government that is located in the state of Washington;
(b) The selected Washington state public depositary must arrange for the funds to be deposited in one or more federally insured banks or savings and loan associations, including out-of-state institutions, for the account of the state or local government;
(c) The full amount of the principal and any accrued interest of each deposit of funds into a depositary pursuant to (b) of this subsection must be insured by an agency of the federal government;
(d) The public depositary selected under (a) of this subsection must act as a custodian for the state or local government with respect to any deposits made pursuant to (b) of this subsection; and
(e) On the same date that the state or local government funds are deposited, the selected public depositary must receive deposits from customers of other financial institutions, which may include out-of-state institutions, in an amount equal to or greater than the amount of the funds initially deposited by the state or local government.
[ 2016 sp.s. c 2 s 1; 2005 c 203 s 1; 1996 c 256 s 8; 1991 sp.s. c 30 s 27; 1986 c 160 s 1; 1984 c 177 s 14; 1983 c 66 s 11; 1969 ex.s. c 193 s 8.]
Notes:
Effective date, implementation, application—1991 sp.s. c 30: See RCW 48.62.900.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Deposit of public funds in public depositary required—Deposits in institutions located outside the state.


title: RCW 39.58.085

text:
(1)(a) The commission, or the chair upon delegation by the commission, may authorize state and local governmental entities to establish demand accounts in out-of-state and alien banks in an aggregate amount not to exceed one million dollars. No single governmental entity shall be authorized to hold more than fifty thousand dollars in one demand account.
(b) The governmental entities establishing such demand accounts shall be solely responsible for their proper and prudent management and shall bear total responsibility for any losses incurred by such accounts. Accounts established under the provisions of this section shall not be considered insured by the commission.
(c) The state auditor shall annually monitor compliance with this section and the financial status of such demand accounts.
(2) Subsection (1)(a) of this section does not apply to RCW 39.58.080 (2) and (3).
[ 2016 sp.s. c 2 s 2; 2005 c 203 s 2; 1996 c 256 s 9; 1987 c 505 s 21; 1986 c 160 s 2.]

catchline: Demand accounts in out-of-state and alien banks—Limitations.


title: RCW 39.58.090

text:
All institutions located in this state which are permitted by the statutes of this state to hold and receive public funds shall have power to secure such deposits in accordance with this chapter. Except as provided in this chapter, no bond or other security shall be required of or given by any public depositary for any public funds on deposit.
[ 1996 c 256 s 10; 1984 c 177 s 15; 1969 ex.s. c 193 s 9.]

catchline: Authority to secure deposits in accordance with chapter—Bonds and securities for deposits dispensed with.


title: RCW 39.58.100

text:
(1) On or before each commission report due date, each public depositary shall render to the commission a written report, certified under oath, indicating the total amount of public funds on deposit held by it, the uninsured amount of those funds, the net worth of the depositary, and the amount and nature of eligible collateral then segregated for the benefit of the commission.
(2) The commission may instruct the director of the department of financial institutions to examine and thereafter certify as to the accuracy of any statement to the commission by any state public depositary, or to provide such other examination report information or data as may be required by the commission. The type, content, and frequency of the reports may be determined by the director of the department of financial institutions, consistent with the requirements of the commission as defined by rule.
[ 2009 c 9 s 7; 1996 c 256 s 11; 1984 c 177 s 16; 1983 c 66 s 12; 1969 ex.s. c 193 s 10.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Reports of public depositaries—Certification by director of financial institutions.


title: RCW 39.58.103

text:
Each public depositary shall notify the commission in writing within forty-eight hours, or by close of business of the next business day thereafter, of the happening of an event which causes its net worth to be reduced by an amount greater than ten percent of the amount shown as its net worth on the most recent report submitted pursuant to RCW 39.58.100.
[ 2009 c 9 s 8; 1983 c 66 s 13; 1975 1st ex.s. c 77 s 4.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Notice to commission of reduced net worth.


title: RCW 39.58.105

text:
(1) The commission may require the state auditor or the director of the department of financial institutions, to the extent of their respective authority under applicable federal and Washington state law, to thoroughly investigate and report to it concerning the condition of any financial institution which makes application to become a public depositary, and may also as often as it deems necessary require the state auditor or the director of the department of financial institutions, to the extent of their respective authority under applicable federal and Washington state law, to make such investigation and report concerning the condition of any financial institution which has been designated as a public depositary. The expense of all such investigations or reports shall be borne by the financial institution examined.
(2) In lieu of any such investigation or report, the commission may rely upon information made available to it or the director of the department of financial institutions by the office of the comptroller of the currency, the national credit union administration, the federal deposit insurance corporation, the federal reserve board, any state financial institutions regulatory agency, or any successor state or federal financial institutions regulatory agency, and any such information or data received by the commission shall be kept and maintained in the same manner and have the same protections as examination reports received by the commission from the director of the department of financial institutions pursuant to RCW 30A.04.075(2)(h), 32.04.220(2)(h), and * 31.12.565(2)(j).
(3) The director of the department of financial institutions shall in addition advise the commission of any action he or she has directed any state public depositary to take which will result in a reduction of greater than ten percent of the net worth of such depositary as shown on the most recent report it submitted pursuant to RCW 39.58.100.
[ 2018 c 237 s 2; 2016 c 152 s 3; 2009 c 9 s 9; 1996 c 256 s 12; 1983 c 66 s 14; 1975 1st ex.s. c 77 s 5.]
Notes:
*Reviser's note: RCW 31.12.565 was amended by 2022 c 49 s 8, changing subsection (2)(j) to subsection (2)(k).
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Investigation of financial institution applying to become public depositary—Report.


title: RCW 39.58.108

text:
Any financial institution may become, and thereafter operate as, a public depositary upon approval by the commission and segregation of collateral in the manner as set forth in this chapter, and subject to compliance with all rules and policies adopted by the commission. A public depositary shall at all times pledge and segregate eligible collateral in an amount established by the commission by rule or noticed resolution.
[ 2016 c 152 s 4; 2009 c 9 s 10; 1996 c 256 s 13; 1984 c 177 s 17; 1983 c 66 s 15; 1975 1st ex.s. c 77 s 6.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Requirements to become depositary.


title: RCW 39.58.130

text:
A treasurer and the state treasurer are authorized to deposit in a public depositary any public funds available for investment and secured by collateral in accordance with the provisions of this chapter, and receive interest thereon. The authority provided by this section is additional to any authority now or hereafter provided by law for the investment or deposit of public funds by any such treasurer: PROVIDED, That in no case shall the aggregate of demand and investment deposits of public funds by any such treasurer in any one public depositary exceed at any time the net worth of that depositary. If a public depositary's net worth is reduced, a treasurer and the state treasurer may allow public funds on deposit in excess of the reduced net worth to remain until maturity upon pledging by the depositary of eligible securities valued at market value in an amount at least equal to the amount of the excess deposits. The collateral shall be segregated as provided in RCW 39.58.050. If the additional securities required by this section are not pledged by the depositary, the depositary shall permit withdrawal prior to maturity by the treasurer of deposits, including accrued interest, in accordance with applicable statutes and governmental regulations.
[ 2009 c 9 s 11; 1996 c 256 s 14; 1984 c 177 s 18; 1983 c 66 s 16; 1969 ex.s. c 193 s 13.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.

catchline: Investment deposits—Net worth of public depositary.


title: RCW 39.58.135

text:
Notwithstanding RCW 39.58.130, (1) aggregate deposits received by a public depositary from all treasurers and the state treasurer shall not exceed at any time one hundred fifty percent of the value of the depositary's net worth, nor (2) shall the aggregate deposits received by any public depositary exceed thirty percent of the total aggregate deposits of all public treasurers in all depositaries as determined by the commission. However, a public depositary may receive deposits in excess of the limits provided in this section if eligible collateral, as prescribed in RCW 39.58.050, are pledged in an amount equal to one hundred percent of the value of deposits received in excess of the limitations prescribed in this section.
[ 2016 c 152 s 5; 2009 c 9 s 12; 1996 c 256 s 15; 1986 c 25 s 1; 1984 c 177 s 19.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.

catchline: Limitations on deposits.


title: RCW 39.58.140

text:
When deposits are made in accordance with this chapter, a treasurer and the state treasurer shall not be liable for any loss thereof resulting from the failure or default of any public depositary without fault or neglect on his or her part or on the part of his or her assistants or clerks.
[ 2009 c 9 s 13; 1996 c 256 s 16; 1969 ex.s. c 193 s 29.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Liability of state treasurer: RCW 43.85.070.

catchline: Liability of treasurers and state treasurer.


title: RCW 39.58.155

text:
A statewide custodian under RCW 43.08.280 may be exempted from the requirements of this chapter, based on rules adopted by the commission.
[ 2016 c 152 s 6; 1999 c 293 s 3.]
Notes:
Purpose—Effective date—1999 c 293: See notes following RCW 43.08.280.

catchline: Statewide custodian—Exemption from chapter.


title: RCW 39.58.200

text:
For the purposes of this chapter, the commission shall include all public depositaries in a single public depositary pool. All public depositaries, as defined in RCW 39.58.010, shall be treated uniformly by the commission without regard to distinctions in the nature of its financial institution charter.
[ 2009 c 9 s 3.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.

catchline: Public depositary pool—Uniform treatment by commission.


title: RCW 39.58.210

text:
If a depositary neglects or refuses to promptly and accurately furnish, or to allow verification of, any required information requested by the commission or by the director of the department of financial institutions when acting on behalf of the commission pursuant to this chapter, or if a public depositary otherwise fails to comply with this chapter or any rules or policies of the commission, the commission may at its option deny or revoke the authority of such depositary to act as a public depositary pursuant to this chapter, or otherwise suspend such depositary from receiving or holding public deposits until such time as the depositary receives the information or complies with the commission's rules and policies. The commission shall have the authority to assess by rule costs for a depositary's noncompliance with this chapter and rules and resolutions adopted pursuant to this chapter.
[ 2009 c 9 s 15.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.

catchline: Failure to furnish information—Failure to comply with chapter—Revocation of authority—Costs for noncompliance.


title: RCW 39.58.220

text:
The commission may by resolution delegate all of its authority to the state treasurer except rule making.
[ 2009 c 9 s 16.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.


title: RCW 39.58.230

text:
The liability of a public depositary under this chapter shall not be altered by any merger, takeover, or acquisition, except to the extent that such liability is assumed by agreement or operation of law by the successor entity or resulting financial institution.
[ 2009 c 9 s 17.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.

catchline: Liability after merger, takeover, or acquisition.


title: RCW 39.58.750

text:
Notwithstanding any provision of law to the contrary, the state treasurer or any treasurer or other custodian of public funds may receive, disburse, or transfer public funds under his or her jurisdiction by means of wire or other electronic communication in accordance with accounting standards established by the state auditor under RCW 43.09.200 with regard to treasurers of municipalities or other custodians or by the office of financial management under RCW 43.88.160 in the case of the state treasurer and other state custodians to safeguard and insure accountability for the funds involved.
[ 2009 c 9 s 14; 1996 c 256 s 17; 1981 c 101 s 1; 1979 c 151 s 48; 1977 ex.s. c 15 s 1. Formerly RCW 39.58.150.]
Notes:
Effective date—2009 c 9: See note following RCW 39.58.010.
Effective date—1977 ex.s. c 15: "The effective date of this act shall be July 1, 1977." [ 1977 ex.s. c 15 s 2.]

catchline: Receipt, disbursement, or transfer of public funds by wire or other electronic communication means authorized.


title: RCW 39.59.010

text:
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.
(1) "Bond" means any agreement which may or may not be represented by a physical instrument, including but not limited to bonds, notes, warrants, or certificates of indebtedness, that evidences an obligation under which the issuer agrees to pay a specified amount of money, with or without interest, at a designated time or times either to registered owners or bearers.
(2) "Local government" means any county, city, town, special purpose district, political subdivision, municipal corporation, or quasi-municipal corporation, including any public corporation, authority, or other instrumentality created by such an entity.
(3) "State" includes any state in the United States, other than the state of Washington.
[ 2016 c 152 s 9; 2015 c 225 s 50; 2002 c 332 s 22; 1988 c 281 s 1.]
Notes:
Intent—Effective date—2002 c 332: See notes following RCW 43.19.760.

catchline: Definitions.


title: RCW 39.59.020

text:
(1) Local governments in the state of Washington are authorized to invest their funds and money in their custody or possession, eligible for investment, in investments authorized by this chapter.
(2) Nothing in this section is intended to limit or otherwise restrict a local government from investing in additional authorized investments if that local government has specific authority to do so.
[ 2016 c 152 s 10; 1988 c 281 s 2.]

catchline: Authorized investments—Local government authority.


title: RCW 39.59.040

text:
Any local government in the state of Washington may invest in:
(1) Bonds of the state of Washington and any local government in the state of Washington;
(2) General obligation bonds of a state and general obligation bonds of a local government of a state, which bonds have at the time of investment one of the three highest credit ratings of a nationally recognized rating agency;
(3) Subject to compliance with RCW 39.56.030, registered warrants of a local government in the same county as the government making the investment;
(4) 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; or United States dollar denominated bonds, notes, or other obligations that are issued or guaranteed by supranational institutions, provided that, at the time of investment, the institution has the United States government as its largest shareholder;
(5) 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 obligations are or may become eligible as collateral for advances to member banks as determined by the board of governors of the federal reserve system;
(6) Bankers' acceptances purchased on the secondary market;
(7) Commercial paper purchased in the secondary market, provided that any local government of the state of Washington that invests in such commercial paper must adhere to the investment policies and procedures adopted by the state investment board; and
(8) Corporate notes purchased on the secondary market, provided that any local government of the state of Washington that invests in such notes must adhere to the investment policies and procedures adopted by the state investment board.
[ 2016 c 152 s 11.]

catchline: Authorized investments—Bonds, warrants, certificates, and other investments.


title: RCW 39.60.010

text:
Notwithstanding the provisions of any other statute of the state of Washington to the contrary, it shall be lawful for any insurance company, savings and loan association, or for any bank, trust company or other financial institution, operating under the laws of the state of Washington, or for any executor, administrator, guardian or conservator, trustee or other fiduciary to invest its funds or the moneys in its custody or possession, eligible for investment, in notes or bonds secured by mortgage which the Federal Housing Administrator has insured or has made a commitment to insure in obligations of national mortgage associations, in debentures issued by the Federal Housing Administrator, and in the bonds of the Home Owner's Loan Corporation, a corporation organized under and by virtue of the authority granted in H.R. 5240, designated as the Home Owner's Loan Act of 1933, passed by the congress of the United States and approved June 13, 1933, and in bonds of any other corporation which is or hereafter may be created by the United States, as a governmental agency or instrumentality.
[ 2016 c 152 s 13; 1939 c 32 s 1; 1935 c 11 s 1; 1933 ex.s. c 37 s 1; RRS s 5545-1.]
Notes:
Severability—1933 ex.s. c 37: "If any section, subsection, sentence, clause or phrase of this act for any reason shall be held to be unconstitutional, such holding shall not affect the validity of the remaining portion of this act. The legislature hereby declares that it would have passed this act in each section, subsection, sentence, clause and phrase thereof, separately and irrespective of the fact that any one or more of the sections, subsections, sentences, clauses or phrases be unconstitutional." [ 1933 ex.s. c 37 s 4.]

catchline: Investment of trust funds authorized.


title: RCW 39.60.020

text:
Notwithstanding the provisions of any other statute of the state of Washington to the contrary, it shall be also lawful for any insurance company, savings and loan association, building and loan association, or for any bank, trust company or other financial institution, operating under the laws of the state of Washington, or for any executor, administrator, guardian or conservator, trustee or other fiduciary, to exchange any mortgages, contracts, judgments or liens owned or held by it, for the bonds of the Home Owners' Loan Corporation, a corporation organized under and by virtue of the authority granted in H.R. 5240, designated as The Home Owners' Loan Act of 1933, passed by the congress of the United States and approved June 13, 1933, or for the bonds of any other corporation which is or hereafter may be created by the United States as a governmental agency or instrumentality; and to accept said bonds at their par value in any such exchange.
[ 2016 c 152 s 14; 1933 ex.s. c 37 s 2; RRS s 5545-2.]
Notes:
Severability—1933 ex.s. c 37: See note following RCW 39.60.010.

catchline: Exchange of securities for federal agency bonds.


title: RCW 39.60.030

text:
Wherever, by statute of this state, collateral is required as security for the deposit of funds; or deposits are required to be made with any public official or department; or an investment of capital or surplus, or a reserve or other fund is required to be maintained consisting of designated securities, the bonds and other securities herein made eligible for investment shall also be eligible for such purpose.
[ 2016 c 152 s 15; 1939 c 32 s 2; 1935 c 11 s 2; 1933 ex.s. c 37 s 3; RRS s 5545-3.]
Notes:
Severability—1933 ex.s. c 37: See note following RCW 39.60.010.

catchline: Obligations eligible as collateral security.


title: RCW 39.60.040

text:
The obligations issued pursuant to said Federal Home Loan Bank Act and to said Title IV of the National Housing Act as such acts are now or hereafter amended, and the shares, deposits or accounts of any institution which has the insurance protection provided by Title IV of the National Housing Act, as now or hereafter amended, may be used at face value or withdrawal value, and bonds or other interest bearing obligations as to which the payment of some but less than the full principal and interest is guaranteed by the United States of America or any agency thereof may be used to the extent of the portion so guaranteed, wherever, by statute of this state or otherwise, collateral is required as security for the deposit of funds, or deposits are required to be made with any public official or department, or an investment of capital or surplus, or a reserve or other fund, is required to be maintained consisting of designated security, or wherever by statute of this state or otherwise, any surety, whether personal, corporate, or otherwise, or any collateral or security, is required or permitted for any purpose, including without limitation on the generality of the foregoing, any bond, recognizance, or undertaking.
[ 2016 c 152 s 16; 1967 ex.s. c 48 s 1; 1941 c 249 s 2; Rem. Supp. 1941 s 3791-2.]

catchline: Insured shares, deposits or accounts as collateral—Partially guaranteed obligations.


title: RCW 39.60.050

text:
Notwithstanding the provisions of any other statute of the state of Washington to the contrary, it shall be lawful for any executor, administrator, guardian, or conservator, trustee or other fiduciary, to invest its funds or the moneys in its custody or possession, eligible for investment, in notes, bonds, or debentures of savings and loan associations, banks, mutual savings banks, savings and loan service corporations operating with approval of the federal home loan bank, and corporate mortgage companies: PROVIDED, That the notes, bonds or debentures are rated not less than "A" by a nationally recognized rating agency, or are insured or guaranteed by an agency of the federal government or by private insurer authorized to do business in the state: PROVIDED FURTHER, That the notes, bonds and debentures insured or guaranteed by a private insurer shall also be backed by a pool of mortgages equal to the amount of the notes, bonds or debentures.
[ 2016 c 152 s 17; 1970 ex.s. c 93 s 1.]
Notes:
Severability—1970 ex.s. c 93: "If any provision of this act, or its application to any person or circumstance is held invalid, the remainder of the act, or the application of the provision to other persons or circumstances is not affected." [ 1970 ex.s. c 93 s 4.]
Investment in local improvement district notes: RCW 35.45.150.

catchline: Investment of trust funds in notes, bonds, or debentures authorized—Requirements.


title: RCW 39.62.010

text:
As used in this chapter:
(1) "Public security" means a bond, note, certificate of indebtedness, or other obligation for the payment of money, issued by this state or by any of its departments, agencies, counties, cities, towns, municipal corporations, junior taxing districts, school districts, or other instrumentalities or by any of its political subdivisions.
(2) "Instrument of payment" means a check, draft, warrant, or order for the payment, delivery, or transfer of funds.
(3) "Authorized officer" means any official of this state or any of its departments, agencies, counties, cities, towns, municipal corporations, junior taxing districts, school districts, or other instrumentalities or any of its political subdivisions whose signature to a public security or instrument of payment is required or permitted.
(4) "Facsimile signature" means a reproduction by engraving, imprinting, stamping, or other means of the manual signature of an authorized officer.
[ 1969 c 86 s 1.]


title: RCW 39.62.020

text:
Any authorized officer, after filing with the secretary of state his or her manual signature certified by him or her under oath, may execute or cause to be executed with a facsimile signature in lieu of his or her manual signature:
(1) Any public security: PROVIDED, That at least one signature required or permitted to be placed thereon shall be manually subscribed, and
(2) Any instrument of payment.
Upon compliance with this chapter by the authorized officer, his or her facsimile signature has the same legal effect as his or her manual signature.
[ 2011 c 336 s 811; 1969 c 86 s 2.]


title: RCW 39.62.030

text:
When the seal of this state or any of its departments, agencies, counties, cities, towns, municipal corporations, junior taxing districts, school districts, or other instrumentalities or of any of its political subdivisions is required in the execution of a public security or instrument of payment, the authorized officer may cause the seal to be printed, engraved, stamped or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.
[ 1969 c 86 s 3.]

catchline: Facsimile seal—Authorized—Legal effect.


title: RCW 39.62.040

text:
Any person who with intent to defraud uses on a public security or an instrument of payment:
(1) A facsimile signature, or any reproduction of it, of any authorized officer, or
(2) Any facsimile seal, or any reproduction of it, of this state or any of its departments, agencies, counties, cities, towns, municipal corporations, junior taxing districts, school districts, or other instrumentalities or of any of its political subdivisions is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2003 c 53 s 213; 1969 c 86 s 4.]
Notes:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.

catchline: Unauthorized use—Penalty.


title: RCW 39.62.900

text:
This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it.
[ 1969 c 86 s 5.]

catchline: Construction—Uniformity.


title: RCW 39.62.910

text:
This act may be cited as the uniform facsimile signature of public officials act.
[ 1969 c 86 s 6.]

catchline: Short title.


title: RCW 39.64.005

text:
This chapter may be cited as the taxing district relief act.
[ 1935 c 143 s 1; RRS s 5608-1.]


title: RCW 39.64.010

text:
The purpose of this chapter is to facilitate and permit taxing districts which are unable to meet their debts either in their present amount and/or at the time they fall due, to obtain relief by the readjustment of such debts as provided for by the act of congress hereinafter referred to, by supplementing the powers of those taxing districts for which refunding of debts is provided for by existing statutes, and by providing a method of refunding of debts for those taxing districts for which no method of refunding such debts has heretofore been provided, and by other provisions appropriate to such purposes.
This chapter shall not be construed as in anywise limiting the powers of the federal courts to grant relief as provided for in said act of congress.
[ 1935 c 143 s 2; RRS s 5608-2.]

catchline: Purpose of chapter.


title: RCW 39.64.020

text:
For the purposes of this chapter a "taxing district" is defined to be a "taxing district" as described in section 80 of chapter IX of the act of congress entitled "An act to establish a uniform system of bankruptcy throughout the United States," approved July 1, 1898, as amended, to wit:
"Any municipality or other political subdivision of any state, including (but not hereby limiting the generality of the foregoing) any county, city, borough, village, parish, town, or township, unincorporated tax or special assessment district, and any school, drainage, irrigation, reclamation, levee, sewer, or paving, sanitary, port, improvement or other district (hereinafter referred to as a 'taxing district')."
Said act of congress and acts amendatory thereof and supplementary thereto, as the same may be amended from time to time, are herein referred to as the "federal bankruptcy act."
[ 1935 c 143 s 3; RRS s 5608-3.]


title: RCW 39.64.030

text:
All powers herein granted to taxing districts in state of Washington may be exercised by such districts. If a taxing district has no officers of its own, such powers may be exercised in its behalf by the officer or officers, board, council or commission having the power to contract in behalf of such district or to levy special assessments or special taxes within such district.
[ 1935 c 143 s 4; RRS s 5608-4.]

catchline: Exercise of powers granted.


title: RCW 39.64.040

text:
Subject to the requirement in RCW 28A.315.225(2), any taxing district in the state of Washington is hereby authorized to file the petition mentioned in section 80 of chapter IX of the federal bankruptcy act.
[ 2012 c 186 s 19; 1935 c 143 s 5; RRS s 5608-5.]
Notes:
Effective date—2012 c 186: See note following RCW 28A.315.025.
Rule-making authority—2012 c 186: See RCW 28A.315.902.

catchline: Petition in bankruptcy.


title: RCW 39.64.050

text:
Before the filing of any petition referred to in RCW 39.64.040, such taxing district shall adopt a resolution authorizing the filing thereof and authorizing its duly and regularly elected or appointed attorney or special counsel duly appointed for such purpose to file the same and to represent it in the proceedings with respect thereto in the competent United States district court.
[ 1935 c 143 s 6; RRS s 5608-6.]

catchline: Resolution of authorization.


title: RCW 39.64.060

text:
No final decree or order of such United States district court confirming a plan of readjustment shall be effective for the purpose of binding such taxing district unless and until such taxing district files with such court a certified copy of a resolution of such taxing district, adopted by it or by the officer or officers, board, council or commission referred to in RCW 39.64.030, consenting to the plan of readjustment set forth or referred to in such final decree or order.
[ 1935 c 143 s 7; RRS s 5608-7.]

catchline: Resolution consenting to readjustment.


title: RCW 39.64.070

text:
Such taxing district is hereby authorized and empowered to take any and all action necessary to carry out any plan of readjustment contemplated in said petition, or as the same may be modified from time to time, notwithstanding any other provisions of law. In case of the refunding of debts of irrigation districts, diking or drainage improvement districts, general debts of cities, or debts of other taxing districts for the refunding of which provision is already made under existing statutes, such refunding shall be had and done as provided for in such existing statutes, except that the tenor and character of the refunding bonds and the assessments levied to meet such bonds may be modified to conform to the capacity of the taxing district, or the individual lots, tracts, or parcels of real property therein, to meet and carry the charges, both direct and contingent, against them, as found and set forth in the plan of readjustment and decree of court; and except also as such existing provisions of law may be otherwise supplemented by such plan of readjustment or the provisions of this chapter.
[ 1935 c 143 s 8; RRS s 5608-8.]

catchline: Plan of readjustment.


title: RCW 39.64.080

text:
Such taxing district shall have power to consummate the plan of readjustment, as adopted by the court's decree and approved by it as aforesaid, and if such plan, as approved by such decree, so requires, may, for such purpose, exercise any of the following powers:
(1) Cancel in whole or in part any assessments or any interest or penalties assessed thereon which may be outstanding and a lien upon any property in such taxing district, as and when such assessments are replaced by the readjusted or revised assessments provided for in the plan of readjustment approved by such decree.
(2) Issue refunding bonds to refund bonds theretofore issued by such taxing district. Such refunding bonds shall have such denominations, rates of interest, and maturities as shall be provided in such plan of readjustment and shall be payable by special assessments or by general taxes, according to the nature of the taxing district, in the manner provided in such plan of readjustment and decree.
(3) Apportion and levy new assessments or taxes appropriate in time or times of payment to provide funds for the payment of principal and interest of such refunding bonds, and of all expenses incurred by such taxing district in filing the petition mentioned in RCW 39.64.040, and any and all other expenses necessary or incidental to the consummation of the plan of readjustment.
In the case of special assessment districts for the refunding of whose debts no procedure is provided by existing laws, such assessments shall be equitably apportioned and levied upon each lot, tract, or parcel of real property within such taxing district, due consideration being given to the relative extent to which the original apportionments upon the various lots, tracts, or parcels of real property within such taxing district have already been paid and due consideration also being given to the capacity of the respective lots, tracts, or parcels of real property to carry such charges against them. Before levying or apportioning such assessment such taxing district or the officer or officers, board, council, or commission mentioned in RCW 39.64.030 shall hold a hearing with reference thereto, notice of which hearing shall be published once a week for four consecutive weeks in the newspaper designated for the publication of legal notices by the legislative body of the city or town, or by the board of county commissioners of the county within which such taxing district or any part thereof is located, or in any newspaper published in the city, town, or county within which such taxing district or any part thereof is located and of general circulation within such taxing district. At such hearing every owner of real property within such taxing district shall be given an opportunity to be heard with respect to the apportionment and levy of such assessment.
(4) In the case of special assessment districts, of cities or towns, provide that if any of the real property within such taxing district shall not, on foreclosure of the lien of such new assessment for delinquent assessments and penalties and interest thereon, be sold for a sufficient amount to pay such delinquent assessments, penalties, and interest, or if any real property assessed was not subject to assessment, or if any assessment or installment or installments thereof shall have been eliminated by foreclosure of a tax lien or made void in any other manner, such taxing district shall cause a supplemental assessment sufficient in amount to make up such deficiency to be made on the real property within such taxing district, including real property upon which any such assessment or any installment or installments thereof shall have been so eliminated or made void. Such supplemental assessment shall be apportioned to the various lots, tracts, and parcels of real property within such taxing district in proportion to the amounts apportioned thereto in the assessment originally made under such plan of readjustment.
(5) Provide that refunding bonds may, at the option of the holders thereof, be converted into warrants of such denominations and bearing such rate of interest as may be provided in the plan of readjustment, and that the new assessments mentioned in subsection (3) of this section and the supplemental assessments mentioned in subsection (4) of this section may be paid in refunding bonds or warrants of such taxing district without regard to the serial numbers thereof, or in money, at the option of the person paying such assessments, such refunding bonds and warrants to be received at their par value in payment of such assessments. In such case such refunding bonds and warrants shall bear the following legend: "This bond (or warrant) shall be accepted at its face value in payment of assessments (including interest and penalties thereon) levied to pay the principal and interest of the series of bonds and warrants of which this bond (or warrant) is one without regard to the serial number appearing upon the face hereof."
(6) Provide that all sums of money already paid to the treasurer of such taxing district or other authorized officer in payment, in whole or in part, of any assessment levied by or for such taxing district or of interest or penalties thereon, shall be transferred by such treasurer or other authorized officer to a new account and made applicable to the payment of refunding bonds and warrants to be issued under such plan of readjustment.
(7) Provide that such treasurer or other authorized officer shall have authority to use funds in his or her possession not required for payment of current interest of such bonds and warrants, to buy such bonds and warrants in the open market through tenders or by call at the lowest prices obtainable at or below par and accrued interest, without preference of one bond or warrant over another because of its serial number, or for any other cause other than the date and hour of such tender or other offer and the amount which the owner of such bond or warrant agrees to accept for it. In such case such refunding bonds and warrants shall bear the following legend: "This bond (or warrant) may be retired by tender or by call without regard to the serial number appearing upon the face hereof."
(8) Provide that if, after the payment of all interest on refunding bonds and warrants issued under any plan of readjustment adopted pursuant to this chapter and chapter IX of the federal bankruptcy act and the retirement of such bonds and warrants, there shall be remaining in the hands of the treasurer or other authorized officer of the taxing district which issued such bonds and warrants money applicable under the provisions of this chapter to the payment of such interest, bonds, and warrants, such money shall be applied by such treasurer or other authorized officer to the maintenance, repair, and replacement of the improvements originally financed by the bonds readjusted under this chapter and the federal bankruptcy act.
(9) The above enumeration of powers shall not be deemed to exclude powers not herein mentioned that may be necessary for or incidental to the accomplishment of the purposes hereof.
[ 2011 c 336 s 812; 1935 c 143 s 9; RRS s 5608-9.]

catchline: Powers under plan of readjustment.


title: RCW 39.64.085

text:
Nothing in this chapter may be deemed to grant to any operating agency organized under chapter 43.52 RCW, or a project of any such operating agency, the authority to levy any tax or assessment not otherwise authorized by law.
[ 1983 2nd ex.s. c 3 s 54.]
Notes:
Construction—Severability—Effective dates—1983 2nd ex.s. c 3: See notes following RCW 82.04.255.

catchline: Authority of operating agencies to levy taxes.


title: RCW 39.64.090

text:
In the event that any taxing district in the state of Washington, before this chapter takes effect, shall have filed or purported or attempted to file a petition under the provisions of chapter IX of the federal bankruptcy act, or shall have taken or purported or attempted to take any other proceedings under or in contemplation of proceedings under the provisions of said chapter IX, then and in every such case all acts and proceedings of such taxing district, in connection with such petition or proceedings, are hereby, to all intents and purposes, declared as legal and valid as though taken after the *effective date of this chapter.
[ 1935 c 143 s 10; RRS s 5608-10.]
Notes:
*Reviser's note: The "effective date of this chapter" was March 21, 1935.

catchline: Validation of prior bankruptcy proceedings.


title: RCW 39.64.900

text:
This chapter and all its provisions shall be liberally construed to the end that the purposes hereof may be made effective. If any section, part or provision of this chapter shall be adjudged to be invalid or unconstitutional, such adjudication shall not affect the validity of the chapter as a whole, or of any section, provision or part thereof not adjudged invalid or unconstitutional.
[ 1935 c 143 s 11; RRS s 5608-11.]

catchline: Construction—Severability—1935 c 143.


title: RCW 39.67.010

text:
Any agreement or contract between two taxing districts other than the state which is otherwise authorized by law may be made contingent upon a particular property tax levy rate of an identified taxing district other than the state where such rate affects the regular property tax rate of one of the parties to the contract and therefore affects the party's resources with which to perform under the contract. The governing body of every taxing district that could have its tax levy adversely affected by such a contract shall be notified about the contract.
[ 1988 c 274 s 2; 1986 c 107 s 1.]
Notes:
Purpose—Severability—1988 c 274: See notes following RCW 84.52.010.
Severability—1986 c 107: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1986 c 107 s 5.]
Construction—1986 c 107 ss 1 and 2: "Sections 1 and 2 of this act are supplementary and in addition to any other authority granted by law and shall not be construed to limit any other law." [ 1986 c 107 s 6.]

catchline: Agreements contingent on property tax levy—Authorized.


title: RCW 39.67.020

text:
Any taxing district other than the state may transfer funds to another taxing district other than the state where the regular property tax levy rate of the second district may affect the regular property tax levy rate of the first district and where such transfer is part of an agreement whereby proration or reduction of property taxes is lessened or avoided. The governing body of every taxing district that could have its tax levy adversely affected by such an agreement shall be notified about the agreement.
[ 1988 c 274 s 3; 1986 c 107 s 2.]
Notes:
Purpose—Severability—1988 c 274: See notes following RCW 84.52.010.
Severability—Construction—1986 c 107: See notes following RCW 39.67.010.

catchline: Transfer of funds between taxing districts.


title: RCW 39.69.010

text:
As used in this chapter, "municipal corporation" includes counties, cities, towns, port districts, water-sewer districts, school districts, metropolitan park districts, or such other units of local government which are authorized to issue obligations.
[ 1999 c 153 s 53; 1987 c 19 s 1.]
Notes:
Part headings not law—1999 c 153: See note following RCW 57.04.050.

catchline: "Municipal corporation" defined.


title: RCW 39.69.020

text:
Any municipal corporation may enter into a loan agreement containing the terms and conditions of a loan from an agency of the state of Washington or the United States of America and evidencing the obligation of the municipal corporation to repay that loan under the terms and conditions set forth in the loan agreement. A loan agreement may provide that the municipal corporation will repay the loan solely from revenues set aside into a special fund for repayment of that loan. In the case of a municipal corporation authorized to borrow money payable from taxes, and authorized to levy such taxes, the loan agreement may provide that repayment of the loan is a general obligation of the municipal corporation, or both a general obligation and an obligation payable from revenues set aside into a special fund.
The state or federal agency making the loan shall have such rights of recovery in the event of default in payment or other breach of the loan agreement as may be provided in the loan agreement or otherwise by law.
[ 1987 c 19 s 2.]

catchline: Loan agreements.


title: RCW 39.69.030

text:
Nothing in this chapter authorizes municipal corporations to incur indebtedness beyond constitutional indebtedness limitations.
[ 1987 c 19 s 3.]

catchline: Application of constitutional debt limitations.


title: RCW 39.69.040

text:
The authority under this chapter is supplemental and in addition to the authority to issue obligations under any other provision of law.
[ 1987 c 19 s 4.]

catchline: Chapter supplemental.


title: RCW 39.72.010

text:
(1) In case of the loss or destruction of a warrant for the payment of money, or any bond or other instrument or evidence of indebtedness, issued by a municipality, the municipality may issue or cause to be issued a duplicate in lieu thereof, bearing the same designation and for the same amount as the original. The duplicate instrument is subject in all other respects to the same provisions of law as the original instrument.
(a) Before a duplicate instrument is issued in accordance with this section, the issuing officer shall require the person making application for issuance of the duplicate to file a written affidavit specifically alleging on oath:
(i) That the applicant is the proper owner, payee, or legal representative of the owner or payee of the original instrument;
(ii) The date of issue, number, amount, and for what services, claim, or purpose the original instrument or series of instruments of which it is a part was issued;
(iii) That the original instrument has been lost or destroyed; and
(iv) That the original instrument has not been paid or has not been received by the applicant.
(b) In the event that an original instrument and its duplicate instrument are both presented for payment as a result of forgery or fraud, the agency, department, or officer that issues a duplicate under this section is responsible for endeavoring to recover any losses suffered by the municipality.
(2) For purposes of this section, "municipality" means any county, city, town, district, or other political subdivision or municipal corporation of the state of Washington, or an agency, department, or officer of the municipality.
[ 2016 sp.s. c 5 s 2; 1975-'76 2nd ex.s. c 77 s 1; 1965 ex.s. c 61 s 4.]
Notes:
Lost or destroyed evidence of indebtedness issued by state: RCW 43.08.064 through 43.08.068.

catchline: Local government indebtedness—Issuance of duplicate instrument—Written affidavit—Loss recovery.


title: RCW 39.72.020

text:
When a municipal corporation issues a duplicate instrument, as authorized in this chapter, the issuing officer of such municipal corporation shall keep a full and complete record of all warrants, bonds, or other instruments alleged to have been lost or destroyed, which were issued by such municipal corporation, and of the issue of any duplicate therefor; and upon the issuance of any duplicate such officer shall enter upon his or her books the cancellation of the original instrument and immediately notify the treasurer of the county, city or other municipal corporation, the state auditor, and all trustees and paying agencies authorized to redeem such instruments on behalf of the municipal corporation, of such cancellation. The treasurer shall keep a similar list of all warrants, bonds, or other instruments so canceled.
[ 2011 c 336 s 813; 1965 ex.s. c 61 s 5.]

catchline: Local government indebtedness—Records to be kept—Cancellation of originals.


title: RCW 39.76.011

text:
(1) Except as provided in RCW 39.76.020, every state agency, county, city, town, school district, board, commission, or any other public body shall pay interest at a rate of one percent per month, but at least one dollar per month, on amounts due on written contracts for public works, personal services, goods and services, equipment, and travel, whenever the public body fails to make timely payment.
(2) For purposes of this section, payment shall be timely if:
(a) Except as provided otherwise in this subsection, a check or warrant is mailed or is available on the date specified for the amount specified in the applicable contract documents but not later than thirty days of receipt of a properly completed invoice or receipt of goods or services, whichever is later. If a contract is funded by grant or federal money, the public body shall pay the prime contractor for satisfactory performance within thirty calendar days of the date the public body receives a payment request that complies with the contract or within thirty calendar days of the date the public body actually receives the grant or federal money, whichever is later.
(b) On written contracts for public works, when part or all of a payment is going to be withheld for unsatisfactory performance or if the payment request made does not comply with the requirements of the contract, the public body shall notify the prime contractor in writing within eight working days after receipt of the payment request stating specifically why part or all of the payment is being withheld and what remedial actions must be taken by the prime contractor to receive the withheld amount.
(c) If the notification by the public body required by (b) of this subsection does not comply with the notice contents required under (b) of this subsection, the public body shall pay the interest under subsection (1) of this section from the ninth working day after receipt of the initial payment request until the contractor receives notice that does comply with the notice contents required under (b) of this subsection.
(d) If part or all of a payment is withheld under (b) of this subsection, the public body shall pay the withheld amount within thirty calendar days after the prime contractor satisfactorily completes the remedial actions identified in the notice. If the withheld amount is not paid within the thirty calendar days, the public body shall pay interest under subsection (1) of this section from the thirty-first calendar day until the date paid.
(e)(i) If the prime contractor on a public works contract, after making a request for payment to the public body but before paying a subcontractor for the subcontractor's performance covered by the payment request, discovers that part or all of the payment otherwise due to the subcontractor is subject to withholding from the subcontractor under the subcontract for unsatisfactory performance, the prime contractor may withhold the amount as allowed under the subcontract. If the prime contractor withholds an amount under this subsection, the prime contractor shall:
(A) Give the subcontractor notice of the remedial actions that must be taken as soon as practicable after determining the cause for the withholding but before the due date for the subcontractor payment;
(B) Give the contracting officer of the public body a copy of the notice furnished to the subcontractor under (e)(i)(A) of this subsection; and
(C) Pay the subcontractor within eight working days after the subcontractor satisfactorily completes the remedial action identified in the notice.
(ii) If the prime contractor does not comply with the notice and payment requirements of (e)(i) of this subsection, the contractor shall pay the subcontractor interest on the withheld amount from the eighth working day at an interest rate that is equal to the amount set forth in subsection (1) of this section.
(3) For the purposes of this section:
(a) A payment is considered to be made when mailed or personally delivered to the party being paid.
(b) An invoice is considered to be received when it is date-stamped or otherwise marked as delivered. If the invoice is not date-stamped or otherwise marked as delivered, the date of the invoice is considered to be the date when the invoice is received.
[ 1992 c 223 s 1.]
Notes:
Effective date—1992 c 223: "This act shall take effect September 1, 1992." [ 1992 c 223 s 9.]
Waiver of rights, construction—Application—1992 c 223: See RCW 39.04.900 and 39.04.901.

catchline: Interest on unpaid public contracts—When payment is considered to be made.


title: RCW 39.76.020

text:
RCW 39.76.011 does not apply to the following:
(1) Interagency or intergovernmental transactions;
(2) Amounts payable to employees or prospective employees of state agencies or local governmental units as reimbursement for expenses;
(3) Belated claims for any time of delinquency after July 31 following the second year of the fiscal biennium;
(4) Claims subject to a good faith dispute, when before the date of timely payment, notice of the dispute is:
(a) Sent by certified mail;
(b) Personally delivered; or
(c) Sent in accordance with procedures in the contract;
(5) Delinquencies due to natural disasters, disruptions in postal or delivery service, work stoppages due to labor disputes, power failures, or any other cause resulting from circumstances clearly beyond the control of the unit of local government or state agency;
(6) Contracts entered before July 26, 1981; and
(7) Payment from any retirement system listed in RCW 41.50.030 and chapter 41.24 RCW.
[ 2009 c 219 s 5; 1981 c 68 s 2.]

catchline: Interest on unpaid public contracts—Exceptions.


title: RCW 39.76.030

text:
Any state agency required to pay late payment penalties under this chapter shall pay the penalties from funds designated for administrative costs of the agency receiving the public works, personal services, goods and services, equipment, or travel and shall not be paid from funds appropriated for client services.
[ 1981 c 68 s 3.]

catchline: Penalties by state agencies to be paid from administrative funds.


title: RCW 39.76.040

text:
In any action brought to collect interest due under this chapter, the prevailing party is entitled to an award of reasonable attorney fees.
[ 1981 c 68 s 4.]

catchline: Interest on unpaid public contracts—Attorney fees.


title: RCW 39.80.010

text:
The legislature hereby establishes a state policy, to the extent provided in this chapter, that governmental agencies publicly announce requirements for architectural and engineering services, and negotiate contracts for architectural and engineering services on the basis of demonstrated competence and qualification for the type of professional services required and at fair and reasonable prices.
[ 1981 c 61 s 1.]
Notes:
Effective date—1981 c 61: "This act shall take effect on January 1, 1982." [ 1981 c 61 s 9.]

catchline: Legislative declaration.


title: RCW 39.80.020

text:
Unless the context clearly requires otherwise, the definitions in this section shall apply throughout this chapter.
(1) "State agency" means any department, agency, commission, bureau, office, or any other entity or authority of the state government.
(2) "Local agency" means any city and any town, county, special district, municipal corporation, agency, port district or authority, or political subdivision of any type, or any other entity or authority of local government in corporate form or otherwise.
(3) "Special district" means a local unit of government, other than a city, town, or county, authorized by law to perform a single function or a limited number of functions, and including but not limited to, water-sewer districts, irrigation districts, fire districts, school districts, community college districts, hospital districts, transportation districts, and metropolitan municipal corporations organized under chapter 35.58 RCW.
(4) "Agency" means both state and local agencies and special districts as defined in subsections (1), (2), and (3) of this section.
(5) "Architectural and engineering services" or "professional services" means professional services rendered by any person, other than as an employee of the agency, contracting to perform activities within the scope of the general definition of professional practice in chapters 18.08, 18.43, or 18.96 RCW.
(6) "Person" means any individual, organization, group, association, partnership, firm, joint venture, corporation, or any combination thereof.
(7) "Consultant" means any person providing professional services who is not an employee of the agency for which the services are provided.
(8) "Application" means a completed statement of qualifications together with a request to be considered for the award of one or more contracts for professional services.
[ 1999 c 153 s 55; 1981 c 61 s 2.]
Notes:
Part headings not law—1999 c 153: See note following RCW 57.04.050.
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Definitions.


title: RCW 39.80.030

text:
Each agency shall publish in advance that agency's requirement for professional services. The announcement shall state concisely the general scope and nature of the project or work for which the services are required and the address of a representative of the agency who can provide further details. An agency may comply with this section by: (1) Publishing an announcement on each occasion when professional services provided by a consultant are required by the agency; or (2) announcing generally to the public its projected requirements for any category or type of professional services.
[ 1981 c 61 s 3.]
Notes:
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Agency's requirement for professional services—Advance publication.


title: RCW 39.80.040

text:
In the procurement of architectural and engineering services, the agency shall encourage firms engaged in the lawful practice of their profession to submit annually a statement of qualifications and performance data. The agency shall evaluate current statements of qualifications and performance data on file with the agency, together with those that may be submitted by other firms regarding the proposed project, and shall conduct discussions with one or more firms regarding anticipated concepts and the relative utility of alternative methods of approach for furnishing the required services and then shall select therefrom, based upon criteria established by the agency, the firm deemed to be the most highly qualified to provide the services required for the proposed project. Such agency procedures and guidelines shall include a plan to ensure that minority and women-owned firms and veteran-owned firms are afforded the maximum practicable opportunity to compete for and obtain public contracts for services. The level of participation by minority and women-owned firms and veteran-owned firms shall be consistent with their general availability within the professional communities involved. For the 2015-2017 biennium the procurement for services related to modular classrooms may be expedited.
[ 2016 sp.s. c 35 s 6010; 2010 c 5 s 10; 1981 c 61 s 4.]
Notes:
Effective date—2016 sp.s. c 35: See note following RCW 28B.10.027.
Purpose—Construction—2010 c 5: See notes following RCW 43.60A.010.
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Procurement of architectural and engineering services—Submission of statement of qualifications and performance data—Participation by minority and women-owned firms and veteran-owned firms.


title: RCW 39.80.050

text:
(1) The agency shall negotiate a contract with the most qualified firm for architectural and engineering services at a price which the agency determines is fair and reasonable to the agency. In making its determination, the agency shall take into account the estimated value of the services to be rendered as well as the scope, complexity, and professional nature thereof.
(2) If the agency is unable to negotiate a satisfactory contract with the firm selected at a price the agency determines to be fair and reasonable, negotiations with that firm shall be formally terminated and the agency shall select other firms in accordance with RCW 39.80.040 and continue in accordance with this section until an agreement is reached or the process is terminated.
[ 1981 c 61 s 5.]
Notes:
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Procurement of architectural and engineering services—Contract negotiations.


title: RCW 39.80.060

text:
(1) This chapter need not be complied with by any agency when the contracting authority makes a finding in accordance with this or any other applicable law that an emergency requires the immediate execution of the work involved.
(2) Nothing in this chapter shall relieve the contracting authority from complying with applicable law limiting emergency expenditures.
[ 1981 c 61 s 6.]
Notes:
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Procurement of architectural and engineering services—Exception for emergency work.


title: RCW 39.80.900

text:
Nothing in this chapter shall affect the validity or effect of any contract in existence on January 1, 1982.
[ 1981 c 61 s 7.]
Notes:
Effective date—1981 c 61: See note following RCW 39.80.010.

catchline: Savings.


title: RCW 39.84.010

text:
The legislature hereby finds and declares that this state urgently needs to do the following: Promote higher employment; encourage the development of new jobs; maintain and supplement the capital investments in industry that currently exist in this state; encourage future employment by ensuring future capital investment; attract environmentally sound industry to the state; protect and enhance the quality of natural resources and the environment; and promote the production and conservation of energy.
[ 1981 c 300 s 1.]

catchline: Finding and declaration of necessity.