39.50.040 - Refunding and renewal of short-term obligations. - Washington Statutes

Refunding and renewal of short-term obligations.

Short-term obligations may, from time to time, be renewed or refunded by the issuance of short-term obligations and may be funded by the issuance of revenue, local improvement district, special assessment, or general obligation bonds. Short-term obligations payable from taxes shall not be renewed or refunded to a date later than six months from the end of the fiscal year in which the original short-term obligation was issued. For the purpose of this section, short-term obligations issued in anticipation of the sale of general obligation bonds shall not be considered to be short-term obligations payable from taxes.

[1985 c 332 § 9; 1985 c 71 § 2; 1982 c 216 § 5.]