RCW 47.60.345
180 words·~1 min read·
/wa/title-47/chapter-47-60/47-60-345·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The department shall maintain a life-cycle cost model on capital assets such that:
(a)Available industry standards are used for estimating the life of an asset, and department-adopted standard life cycles derived from the experience of similar public and private entities are used when industry standards are not available;
(b)Standard estimated life is adjusted for asset condition when inspections are made;
(c)It does not include utilities or other systems that are not replaced on a standard life cycle; and
(d)It does not include assets not yet built.
(2)All assets in the life-cycle cost model must be inspected and updated in the life-cycle cost model for asset condition at least every three years.
(3)The life-cycle cost model shall be used when estimating future terminal and vessel preservation needs.
(4)The life-cycle cost model shall be the basis for developing the budget request for terminal and vessel preservation funding.
[ 2008 c 124 s 4 ; 2007 c 512 s 10 .]
Notes:
Finding — Intent — 2007 c 512: See note following RCW 47.06.140 .