by
<a href="mailto:candiceb@awcnet.org">Candice Bock</a>, <a href="mailto:andrewp@awcnet.org">Andrew Pittelkau</a> | Jan 25, 2019
<strong><a target="_blank" href="https://app.leg.wa.gov/billsummary?BillNumber=1284&Initiative=false&Year=2019">HB 1284</a></strong>, requested by the State Treasurer, would allow local governments to enter into a contract with the Office of the State Treasurer (OST) for longer-term fixed income investment services.
HB 1284, requested by the State Treasurer, would allow local governments to enter into a contract with the Office of the State Treasurer (OST) for longer-term fixed income investment services. The local government’s account would be a separate managed portfolio. As a separate trust account, all monies would remain under local control. The Treasurer or designee may authorize use of the account and the account is not subject to appropriation by the Legislature.
According to OST, this would allow participating local governments the opportunity to take advantage of OST’s full-time investment expertise and capacity in the management of their longer-term public funds investments.
Dates to remember
The bill is scheduled for a public hearing on Tuesday, January 29 at 1:30 pm in the House State Government and Tribal Relations Committee.