39.46.070 - Bonds -- Payment of costs of issuance and sale. - Washington Statutes

Bonds — Payment of costs of issuance and sale.

(1) Except as provided in subsection (2) of this section, the proceeds of any bonds issued by the state or a local government may be used to pay incidental costs and costs related to the sale and issuance of the bonds. Such costs include payments for fiscal and legal expenses, obtaining bond ratings, printing, engraving, advertising, establishing and funding reserve accounts and other accounts, an amount for working capital, capitalized interest for up to six months after completion of construction, necessary and related engineering, architectural, planning, and inspection costs, and other similar activities or purposes.

     (2) In addition to the costs enumerated in subsection (1) of this section, costs authorized under this section include capitalized interest for up to seventy-two months from the date of issuance for bonds issued by the state for the construction of a public toll bridge under chapter 47.46 RCW.

[2002 c 114 § 22; 1983 c 167 § 7.]

Notes: Finding -- Intent -- 2002 c 114: See RCW 47.46.011.

Captions not law -- 2002 c 114: See note following RCW 47.46.011.

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