43.331.020 - Retirement of bonds. - Washington Statutes

Retirement of bonds. (Effective December 2, 2010, if Referendum Bill No. 52 is approved by the voters at the November general election.)

(1) The nondebt-limit general fund bond retirement account must be used for the payment of the principal of and interest on the bonds authorized in RCW 43.331.010.

     (2) The state finance committee must, on or before June 30th of each year, certify to the state treasurer the amount needed in the ensuing twelve months to meet the bond retirement and interest requirements on the bonds authorized in RCW 43.331.010.

     (3) On each date on which any interest or principal and interest payment is due on bonds issued for the purposes of RCW 43.331.010, the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the nondebt-limit general fund bond retirement account an amount equal to the amount certified by the state finance committee to be due on the payment date.

[2010 1st sp.s. c 35 § 202.]

Notes: Intent -- Short title -- Contingent effective date -- 2010 1st sp.s. c 35: See notes following RCW 43.331.010.

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