CHAPTER 3.03
COLLECTION AND INVESTMENT OF TAXES AND ABATEMENT LIENS
Sections:
3.03.020 Distribution of taxes and liens by county treasurer to City.
3.03.010 Policy.
It shall be the policy of the City to receive collections of property taxes and abatement liens as soon as practical and to invest funds not required or available for immediate expenditure for the benefit of the City as authorized by law. (Ord 03-118 §2; Ord 774 §1, 1989)
3.03.020 Distribution of taxes and liens by county treasurer to City.
The Grant County Treasurer is authorized and requested to distribute to the Finance Officer for and on behalf of the City all property taxes and abatement liens collected as frequently as daily; and the Finance Officer is authorized to deliver a receipt therefor whenever funds are delivered to the City. Delivery may be in money or as a transfer of an investment authorized by RCW 36.29.020, and made by the Grant County Treasurer for the City. (Ord 03-118 §2; Ord 774 §2, 1989)
3.03.030 Investments.
The Grant County Treasurer is authorized and directed to promptly, upon receipt, invest all property taxes and abatement liens collected for the City and retained in his custody pending distribution to the City in the Washington State Local Government Investment Pool as authorized by law and as has been previously authorized by the City Council. Pursuant to RCW 36.29.022, moneys of the City may be invested by the Grant County Treasurer together with the moneys of other units of local government. Such funds shall be invested in that manner until the soonest of: (a) a distribution to the City as contemplated by this chapter; or (b) the monthly distribution to the City as required by RCW 36.29.110. The Grant County Treasurer is further authorized and directed to inform the Finance Officer each business day as to the balance in such account and at the time of making distribution as contemplated in this chapter or RCW 36.29.110, to transfer all interest accrued to the Finance Officer. (Ord 03-118 §2; Ord 774 §3, 1989)