The permanent common school fund, public pension and retirement funds, and the industrial insurance trust funds may be invested in securities lending agreements and reverse repurchase agreements pursuant to amendments to the Washington Constitution which allow such funds to be invested as authorized by law.
RCW 28A.400.280 requires a school district to offer some form of each of the five "basic benefits" defined in RCW 28A.400.270, before it can expend school funds for additional or alternative "optional" benefits.
1. A school district has the authority to purchase real estate not needed for immediate or future school purposes in order to eliminate a potential health risk and liability stemming from the property. 2. In purchasing the property a district cannot pay more than the fair market value of the property, unless the district is receiving additional consideration, e.g., seller will provide something in addition to the title to the property such as demolishing structures on the property. 3. A district may accept donations designated to pay the difference between the appraisal price of the property and the selling price.