1311_00001ORDINANCEND.1311
AN ORDINANCEOF THE CITY.0F MOSESLAKERELATINGTOTHECOLLECTIONOFPROPERTYTAXESANDABATEMENTLIENS;DECLARINGA CITY POLICY;DIRECTINGTHETEMPORARYINVEST-MENTOF CITY TAXESANDABATEMENTLIENS IN THECUSTODYOFTHEGRANTCOUNTYTREASURERPENDINGDISTRIBUTIONTOTHECITY;ANDAUTHORIZINGTHE CITY MANAGERTO PROVIDEIAPPROPRIATEINSTRUCTIONSTOTHECOUNTY
THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTONDOORDAINAS FOLLOWS:
Section 1.Policy:It shall be the policy of the City of Moses Lake toreceivecollectionsofpropertytaxesandabatementliensassoonaspracticalandtoinvestfundsnotrequiredoravailableforimmediateexpenditureforthebenefitofthecityasauthorizedbylaw.
Section 2.Authorization:The Grant County Treasurer is authorized and re-quested to distribute to the Moses Lake Finance Director for and on behalf oftheCityofMosesLakeallpropertytaxesandabatementlienscollectedasfrequentlyasdaily;and the Moses Lake Finance Director is authorized todeliverareceiptthereforewheneverfundsaredeliveredtothecity.Deliv-
ery may be in money or as a transfer of an investment authorized by RCW36.29.020,and made by the Grant County Treasurer for the City of Moses Lake.
Section 3.Investments:The Grant County Treasurer is authorized and direct-ed to promptly,upon receipt,invest all property taxes and abatement lienscollectedforthecityandretainedinhiscustodypendingdistributionto thecityintheWashingtonStateLocalGovernmentInvestmentPoolasauthorizedbylawandashasbeenpreviouslyauthorizedbytheCityCouncil.Pursuant toRCW36.29.022,monies of the City of Moses Lake may be invested by the GrantCountyTreasurertogetherwiththemoniesofotherunitsoflocalgovernmentanduntil(a)a distribution to the city as contemplated by this ordinance ori(b)the monthly distribution to the city required by RCW36.29.110.The GrantCountyTreasurerisfurtherauthorizedanddirectedtoinformtheMosesLakeFinanceDirectoreachbusinessdayastothebalanceinsuchaccountandatthetimeofmakingdistributionascontemplatedhereinorRCW36.29.110,totransferallinterestaccruedandalltreasurybillspurchased,to the MosesLakeFinanceDirector.
Section 4.Investment Fee:If the Grant County Treasurer invests funds forthecitywhileinhiscustody,he may deduct and retain the investment feecontemplatedbyRCW36.29.020 when the interest earnings become available tothecity.
Section 5.Prior Action:Any action which is consistent with the authorityofthisordinancebuttakenpriortoitseffectivedate,is hereby ratifiedandconfirmed.
Section 6.Effective Date:The City Council declares that an emergency ex-ists and this ordinance shall take effect and be in force five (5)days afteritspassageandpublicationasprovidedbylawupononereadingif2/3 of theentireCityCouncilpresentvoteinfavorofpassage.
Adopted by the City Council and signed b s Mayor 1988
ÑñiyAttorney
PUBLISH:4/21/88