RCW 35.58.510
Obligations of corporation are legal investments and security for public deposits.
All banks, trust companies, bankers, savings banks, and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking or investment business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, curators, trustees and other fiduciaries, may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds or other obligations issued by a metropolitan municipal corporation pursuant to this chapter. Such bonds and other obligations shall be authorized security for all public deposits. It is the purpose of this section to authorize any persons, political subdivisions and officers, public or private, to use any funds owned or controlled by them for the purchase of any such bonds or other obligations. Nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in selecting securities.
[ 1965 c 7 § 35.58.510. Prior: 1957 c 213 § 51.]
Structure Revised Code of Washington
Chapter 35.58 - Metropolitan Municipal Corporations.
35.58.010 - Declaration of policy and purpose.
35.58.030 - Corporations authorized—Limitation on boundaries.
35.58.040 - Territory which must be included or excluded—Boundaries.
35.58.050 - Functions authorized.
35.58.060 - Unauthorized functions to be performed under other law.
35.58.070 - Resolution, petition for election—Requirements, procedure.
35.58.100 - Additional functions—Authorized by election.
35.58.110 - Additional functions—Authorized without election.
35.58.120 - Metropolitan council—Composition.
35.58.130 - Metropolitan council—Organization, chair, procedures.
35.58.140 - Metropolitan council—Terms.
35.58.150 - Metropolitan council—Vacancies.
35.58.160 - Metropolitan council—Compensation—Waiver of compensation.
35.58.170 - Corporation name and seal.
35.58.180 - General powers of corporation.
35.58.190 - Performance of function or functions—Commencement date.
35.58.200 - Powers relative to water pollution abatement.
35.58.210 - Metropolitan water pollution abatement advisory committee.
35.58.215 - Powers relative to systems of sewerage.
35.58.220 - Powers relative to water supply.
35.58.230 - Metropolitan water advisory committee.
35.58.240 - Powers relative to transportation.
35.58.245 - Public transportation function—Authorization by election required—Procedure.
35.58.260 - Transportation function—Acquisition of city system.
35.58.262 - Transportation function—Fuel purchasing strategies—Reports.
35.58.263 - Transportation function—Fuel purchasing strategies—Liability immunity.
35.58.268 - Public transportation employees—Payroll deduction for political action committees.
35.58.270 - Metropolitan transit commission.
35.58.271 - Public transportation in municipalities—Financing.
35.58.2711 - Local sales and use taxes for financing public transportation systems.
35.58.2712 - Public transportation feasibility study—Advanced financial support payments.
35.58.272 - Public transportation systems—Definitions.
35.58.2795 - Public transportation systems—Six-year transit plans.
35.58.2796 - Public transportation systems—Annual reports by department.
35.58.280 - Powers relative to garbage disposal.
35.58.290 - Powers relative to parks and parkways.
35.58.300 - Metropolitan park board.
35.58.310 - Powers relative to planning.
35.58.340 - Disposition of unneeded property.
35.58.360 - Rules and regulations—Penalties—Enforcement.
35.58.380 - Retention of existing personnel.
35.58.390 - Prior employees pension rights preserved.
35.58.400 - Prior employees sick leave and vacation rights preserved.
35.58.420 - Supplemental income payments by component city and county.
35.58.430 - Funds—Disbursements—Treasurer—Expenses—Election expenses.
35.58.450 - General obligation bonds—Issuance, sale, form, term, election, payment.
35.58.460 - Revenue bonds—Issuance, sale, form, term, payment, reserves, actions.
35.58.470 - Funding, refunding bonds.
35.58.480 - Borrowing money from component city or county.
35.58.490 - Interest bearing warrants.
35.58.500 - Local improvement districts—Utility local improvement districts.
35.58.510 - Obligations of corporation are legal investments and security for public deposits.
35.58.520 - Investment of corporate funds.
35.58.530 - Annexation—Requirements, procedure.
35.58.540 - Annexation—Hearings—Inclusion, exclusion of territory—Boundaries—Calling election.
35.58.550 - Annexation—Election—Favorable vote.
35.58.570 - Sewage facilities—Capacity charge.
35.58.580 - Public transportation fares—Proof of payment—Civil infractions.
35.58.590 - Public transportation fares—Powers of law enforcement authorities.
35.58.595 - Public transportation fares—Powers and authority are supplemental to other laws.
35.58.610 - Supplemental transportation improvements.
35.58.900 - Liberal construction.
35.58.911 - Prior proceedings validated, ratified, approved and confirmed.