PERMANENT RULES
STATE TREASURER
Date of Adoption: March 2, 2000.
Purpose: To align rule with RCW 43.250.060 and to provide added clarity on the rule that requires reimbursement for the administration and recovery of costs associated with the operation of the local government investment pool.
Citation of Existing Rules Affected by this Order: Amending WAC 210-01-120.
Statutory Authority for Adoption: Chapter 43.250 RCW.
Other Authority: RCW 43.250.090.
Adopted under notice filed as WSR 00-03-040 on January 13, 2000.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 1, Repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0. Effective Date of Rule: Thirty-one days after filing.
March 2, 2000
Douglas D. Extine
Deputy Treasurer
As
authorized in RCW 43.250.060, the ((The)) state treasurer will
((charge a fee)) require reimbursement for the administration and
recovery of costs associated with the operation of the local
government investment pool. ((This fee will be set in a manner
that will allow the state treasurer to recover costs associated
with the pool. The fee)) The deduction for the amount to
reimburse the office of the state treasurer will be based on the
average daily balance of the funds deposited in the pool. Each
participant will ((pay a proportionate share of the pool's
expenses)) reimburse based upon its share of the total pool's
assets. The ((fee)) deduction will be expressed as a percentage
of the average daily funds on deposit in the pool for a specified
period. ((This fee will be charged against)) This reimbursement
will be deducted from each participants earnings prior to the
credit of those earnings. The administrative ((fee)) deduction
will be adjusted to reflect actual experience.
[Statutory Authority: RCW 43.250.090, 43.250.010, [43.250].020 and [43.250].040. 96-18-029, § 210-01-120, filed 8/28/96, effective 9/28/96. Statutory Authority: 1986 c 294. 86-14-002 (Resolution No. 639), § 210-01-120, filed 6/19/86.]