43.83C.020 - General obligation bonds -- Authorized -- Issuance, sale, terms -- Appropriation required. - Washington Statutes

General obligation bonds — Authorized — Issuance, sale, terms — Appropriation required.

For the purpose of providing funds for the planning, acquisition, preservation, development, and improvement of recreation areas and facilities in this state, the state finance committee is authorized to issue general obligation bonds of the state of Washington in the sum of forty million dollars or so much thereof as may be required to finance the improvements defined in this chapter and all costs incidental thereto. These bonds shall be paid and discharged within twenty years of the date of issuance or within thirty years should Article VIII of the Constitution of the state of Washington be amended to permit such longer term. No bonds authorized by this chapter shall be offered for sale without prior legislative appropriation of the proceeds of such bonds to be sold.

[1977 ex.s. c 242 § 3; 1972 ex.s. c 129 § 2.]

Notes: Severability -- 1977 ex.s. c 242: See note following RCW 43.83A.020.