43.83C.040 - Administration of proceeds -- Division into shares -- Use of funds. - Washington Statutes

Administration of proceeds — Division into shares — Use of funds.

The proceeds from the sale of the bonds deposited in the *state and local improvements revolving account of the general fund under the terms of this chapter shall be divided into three shares as follows:

     (1) Thirty-five percent of such proceeds shall be administered, subject to legislative appropriation, by the recreation and conservation funding board through the outdoor recreation account and allocated to the state of Washington, or any agency or department thereof, for the acquisition, preservation, and development of recreation areas and facilities by the state. The recreation and conservation funding board may use or permit the use of any portion of such share as matching funds in any case where federal, local, or other funds are made available on a matching basis for improvements within the purposes of this chapter.

     (2) Thirty-five percent of such proceeds shall be administered, subject to legislative appropriation, by the recreation and conservation funding board through the outdoor recreation account and allocated to public bodies for the acquisition, preservation, development, and improvement of recreational areas and facilities within the jurisdiction of such bodies. The recreation and conservation funding board may use or permit the use of any portion of such share for loans or grants to public bodies including use as matching funds in any case where federal, local, or other funds are made available on a matching basis for improvements within the purposes of this chapter.

     (3) Thirty percent of such proceeds shall be allocated to the state parks and recreation commission, subject to legislative appropriation, for improvement of existing state parks and the acquisition and preservation of historic sites and buildings. The commission may use or permit the use of any portion of such share as matching funds in any case where federal, local, or other funds are made available on a matching basis for improvements within the purposes of this chapter.

     In the event that the bonds authorized by this chapter are sold in more than one series the above division into shares shall apply to the total proceeds of the bonds authorized by this chapter and not to the proceeds of each separate series.

[2007 c 241 § 7; 1972 ex.s. c 129 § 4.]

Notes: *Reviser's note: The "state and local improvements revolving account" was created in RCW 43.83C.030 which was repealed by 2000 c 150 § 2, effective July 1, 2001.

Intent -- Effective date -- 2007 c 241: See notes following RCW 79A.25.005.