Investments by local governments.

Authors: Senator Carlin Yoder, Senator Ed Charbonneau, Senator Ryan Mishler

Co-authors: Senator Karen Tallian

Sponsors: Representative David Ober

Co-Sponsors: Representative Wes Culver

Digest

Provides that upon approval by the fiscal body, money in a local major moves construction fund may be invested in fixed income assets that have a credit rating of at least AA if certain requirements are met. Provides that if authorized by the fiscal body of a political subdivision and if that fiscal body makes a determination that money received from the sale of facilities or other real property represents a substantial amount of public funds, that money may be invested in fixed income assets that have a credit rating of at least AA if certain requirements are met.