§ 9-1-416 — Local investment pool

Wyoming § 9-1-416

• Jurisdiction: Wyoming
• Title 09: Administration of the Government
• Ch. 1: STATE OFFICERS
• Art. 4: AUDITOR AND TREASURER

Text

(a) Upon request by any county, municipality, school
district or any other local governmental entity, and as provided
in W.S. 9-3-503(a), the state treasurer shall invest funds of
one (1) or more of those entities on a pooled basis in the same
manner as the state treasurer makes short term investments of
state funds. The state treasurer shall adopt rules and
regulations which:
(i) Provide for the transmittal of funds from the
entities to the state treasurer for investment, the manner in
which the funds may be withdrawn from the investment pool by
entities, accounting and reporting procedures and any other
provisions which will effectively carry out the purposes of this
section; and
(ii) Establish fees to be charged to local
governmental entities which request investment assistance under
this section. The fees collected shall not exceed the direct
costs incurred by the state treasurer in providing the
investment assistance. Fees collected under this paragraph shall
be deposited into an account to be known as the investment
assistance account.
(b) Nothing in this section shall be construed to require
the state of Wyoming to reimburse government entities for any
losses that may occur on investments under this section.