AGO Opinion Topics: STATE TRUST MONEYS

1.The State Treasurer may invest funds contained in the natural resources deposit fund established pursuant to RCW 43.85.130(1)(c), except for funds derived from the sale or disposition of public lands.2.The State Investment Board may invest funds contained in the natural resources deposit fund and derived from the sale or disposition of public lands, and held in a temporary depository, pursuant to RCW 43.33A.010.3.The State Treasurer may, pursuant to RCW 43.84.080, invest funds in the resource management cost account (RCW 79.64.020).4.The State Treasurer may, pursuant to RCW 43.84.090, deduct twenty percent of all income received from the investment of the surplus contained in the natural resources deposit fund and the resource management cost account, except for income from the investment of trust moneys; this income must be apportioned to the appropriate funds pursuant to RCW 79.64.055.5.RCW 43.84.090 does not authorize the State Treasurer to deduct any portion of income received from the investment of trust funds which obtain their revenue from the management of trust lands; the Legislature could authorize such a deduction to the extent consistent with general trust principles.