36.88.210 - Improvement bonds -- Issuance -- Sale -- Deposit of proceeds. - Washington Statutes

Improvement bonds — Issuance — Sale — Deposit of proceeds.

(1) The bonds issued under the provisions of this chapter may be issued to the contractor or sold by the county legislative authority as authorized by the resolution directing their issuance at not less than their par value and accrued interest to the date of delivery. No bonds shall be sold except at public sale upon competitive bids and a notice calling for bids shall be published once a week for two consecutive weeks in the official newspaper of the county. Such notice shall specify a place and designate a day and hour subsequent to the date of last publication thereof when sealed bids will be received and publicly opened for the purchase of said bonds. The proceeds of all sales of bonds shall be deposited in the county road improvement district fund and applied to the cost and expense of the district.

     (2) Notwithstanding subsection (1) of this section, such bonds may be sold in accordance with chapter 39.46 RCW.

[1983 c 167 § 95; 1963 c 4 § 36.88.210. Prior: 1951 c 192 § 21.]

Notes: Liberal construction -- Severability -- 1983 c 167: See RCW 39.46.010 and note following.