43.331.010 - General obligation bonds for capital improvements to public facilities. - Washington Statutes

General obligation bonds for capital improvements to public facilities. (Effective December 2, 2010, if Referendum Bill No. 52 is approved by the voters at the November general election.)

(1) For the purpose of creating jobs by constructing needed capital improvements to public facilities for energy, utility, and operational cost savings, the state finance committee is authorized to issue general obligation bonds of the state of Washington in the sum of five hundred five million dollars, or so much thereof as may be required, for this purpose and all costs incidental thereto. The bonds issued under the authority of this section are known as jobs act bonds.

     (2) Bonds authorized in this section must be sold in the manner, at the time or times, in amounts, and at such prices as the state finance committee determines.

     (3) The authorization to issue bonds contained in this chapter does not expire until the full authorization has been issued.

     (4) No bonds authorized in this section may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.

[2010 1st sp.s. c 35 § 201.]

Notes: Intent -- 2010 1st sp.s. c 35: "The legislature intends to create jobs in every corner of Washington state by issuing bonds, which will catalyze energy savings and repair work at public schools and state colleges and universities.

     It is the intent of the legislature that these investments will create jobs quickly and directly, at a time when the state's residents need jobs. It is the further intent of the legislature that these investments both accelerate innovation in the energy efficiency sector and create locally developed technologies and companies to provide sustainable jobs. The legislature intends to prioritize the use of innovative technologies and facilitate the development of a sustainable innovation cluster that creates and installs highly efficient building technologies and creates jobs.

     The legislature intends that these job-creating projects save taxpayers money, with an estimated one hundred twenty-six million dollars saved each year in public schools through reduced energy and operational costs, and improve the health and safety of those buildings. The energy savings are equivalent to the use of an estimated ninety thousand houses. It is also the intent of the legislature that these job-creating projects lead to reduced pollutants, as the weatherization and energy efficiency projects will reduce pollution emissions by an estimated amount equivalent to removing an estimated one hundred thirty thousand cars from the roads each year." [2010 1st sp.s. c 35 § 102.]

Short title -- 2010 1st sp.s. c 35: "This act may be known and cited as the jobs act." [2010 1st sp.s. c 35 § 101.]

Contingent effective date -- 2010 1st sp.s. c 35: "This act takes effect if *Second Engrossed Substitute Senate Bill No. 6143 is enacted by the legislature during the 2010 1st special session." [2010 1st sp.s. c 35 § 601.]

*Reviser's note: Second Engrossed Substitute Senate Bill No. 6143 became chapter 23, Laws of 2010 1st sp. sess.

Intent -- 2010 1st sp.s. c 35: See note following RCW 43.331.040.