28B.59C.060 - Payment of principal and interest on bonds and notes. - Washington Statutes

Payment of principal and interest on bonds and notes.

The 1975 community college capital construction bond retirement fund in the state treasury shall be used for the purpose of the payment of the principal of and redemption premium, if any, and interest on the bonds and/or the bond anticipation notes authorized to be issued under this chapter.

     The state finance committee, on or before June 30th of each year, shall certify to the state treasurer the amount required in the next succeeding twelve months for the payment of the principal of and interest coming due on the bonds. Not less than thirty days prior to the date on which any interest or principal and interest payment is due, the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the 1975 community college capital construction bond retirement fund an amount equal to the amount certified by the state finance committee to be due on the payment date.

[1979 ex.s. c 226 § 6.]

Notes: Effective date -- Severability -- 1979 ex.s. c 226: See notes following RCW 28B.59C.010.