43.99G.070 - Institutions of higher education -- Apportionment of principal and interest payments -- Transfer of moneys to general fund. - Washington Statutes

Institutions of higher education — Apportionment of principal and interest payments — Transfer of moneys to general fund.

On or before June 30th of each year and in accordance with the provisions of the bond proceedings the state finance committee shall determine the relative shares of the principal and interest payments determined pursuant to RCW 43.99G.040, exclusive of deposit interest credit, attributable to each of the institutions of higher education in proportion to the principal amount of bonds issued for the purposes of RCW 43.99G.020(7) for projects for each institution. On each date on which any interest or principal and interest payment is due, the board of regents or the board of trustees of each institution of higher education shall cause the amount so computed to be paid out of the appropriate building account or capital projects account to the state treasurer for deposit into the general fund of the state treasury.

[1989 1st ex.s. c 14 § 22; 1985 ex.s. c 4 § 7.]

Notes: Severability -- Effective dates -- 1989 1st ex.s. c 14: See RCW 43.99H.900 and 43.99H.901.