43.99H.020 - Conditions and limitations. - Washington Statutes

Conditions and limitations.

Bonds issued under RCW 43.99H.010 are subject to the following conditions and limitations:

     General obligation bonds of the state of Washington in the sum of one billion four hundred four million dollars, or so much thereof as may be required, shall be issued for the purposes described and authorized by the legislature in the capital and operating appropriations acts for the 1989-91 fiscal biennium and subsequent fiscal biennia, and to provide for the administrative cost of such projects, including costs of bond issuance and retirement, salaries and related costs of officials and employees of the state, costs of insurance or credit enhancement agreements, and other expenses incidental to the administration of capital projects, and to provide for reimbursement of bond-funded accounts from the 1987-89 fiscal biennium. Subject to such changes as may be required in the appropriations acts, the proceeds from the sale of the bonds issued for the purposes of this subsection shall be deposited in the state building construction account created by RCW 43.83.020 and transferred as follows:

     (1) Thirty million dollars to the state and local improvements revolving account -- waste disposal facilities, created by RCW 43.83A.030, to be used for the purposes described in RCW 43.83A.020;

     (2) Five million three hundred thousand dollars to the salmon enhancement construction account created by *RCW 75.48.030;

     (3) One hundred twenty million dollars to the state and local improvements revolving account -- waste disposal facilities, 1980 created by RCW 43.99F.030, to be used for the purposes described in RCW 43.99F.020;

     (4) Forty million dollars to the common school construction fund as referenced in RCW 28A.515.320.

     (5) Three million two hundred thousand dollars to the state higher education construction account created by RCW 28B.10.851;

     (6) Eight hundred five million dollars to the state building construction account created by RCW 43.83.020;

     (7) Nine hundred fifty thousand dollars to the higher education reimbursable short-term bond account created by RCW 43.99G.020(6);

     (8) Twenty-nine million seven hundred thirty thousand dollars to the outdoor recreation account created by **RCW 43.99.060;

     (9) Sixty million dollars to the state and local improvements revolving account -- water supply facilities, created by RCW 43.99E.020 to be used for the purposes described in chapter 43.99E RCW;

     (10) Four million three hundred thousand dollars to the state social and health services construction account created by RCW 43.83H.030;

     (11) Two hundred fifty thousand dollars to the fisheries capital projects account created by RCW 43.83I.040;

     (12) Four million nine hundred thousand dollars to the state facilities renewal account created by RCW 43.99G.020(5);

     (13) Two million three hundred thousand dollars to the essential rail assistance account created by ***RCW 47.76.030;

     (14) One million one hundred thousand dollars to the essential rail bank account hereby created in the state treasury;

     (15) Seventy-three million dollars to the east capitol campus construction account hereby created in the state treasury;

     (16) Eight million dollars to the higher education construction account created in RCW 28B.14D.040;

     (17) Sixty-three million two hundred thousand dollars to the labor and industries construction account hereby created in the state treasury;

     (18) Seventy-five million dollars to the higher education construction account created by RCW 28B.14D.040;

     (19) Twenty-six million five hundred fifty thousand dollars to the habitat conservation account hereby created in the state treasury; and

     (20) Eight million dollars to the public safety reimbursable bond account hereby created in the state treasury.

     These proceeds shall be used exclusively for the purposes specified in this subsection, and for the payment of expenses incurred in the issuance and sale of the bonds issued for the purposes of this section, and shall be administered by the office of financial management, subject to legislative appropriation.

     Bonds authorized for the purposes of subsection (17) of this section shall be issued only after the director of the department of labor and industries has certified, based on reasonable estimates, that sufficient revenues will be available from the accident fund created in RCW 51.44.010 and the medical aid fund created in RCW 51.44.020 to meet the requirements of RCW 43.99H.060(4) during the life of the bonds.

     Bonds authorized for the purposes of subsection (18) of this section shall be issued only after the board of regents of the University of Washington has certified, based on reasonable estimates, that sufficient revenues will be available from nonappropriated local funds to meet the requirements of RCW 43.99H.060(4) during the life of the bonds.

[1990 1st ex.s. c 15 § 2; 1990 c 33 § 582; 1989 1st ex.s. c 14 § 2.]

Notes: Reviser's note: (1) This section was amended by 1990 c 33 § 582 and by 1990 1st ex.s. c 15 § 2, each without reference to the other. Both amendments are incorporated in the publication of this section pursuant to RCW 1.12.025(2). For rule of construction, see RCW 1.12.025(1).

     *(2) RCW 75.48.030 was repealed by 1991 sp.s. c 13 § 122, effective July 1, 1991.

     **(3) RCW 43.99.060 was recodified as RCW 79A.25.060 pursuant to 1999 c 249 § 1601.

     ***(4) RCW 47.76.030 was recodified as RCW 47.76.250 pursuant to 1993 c 224 § 15.

Severability -- 1990 1st ex.s. c 15: See note following RCW 43.99H.010.

Purpose -- Statutory references -- Severability -- 1990 c 33: See RCW 28A.900.100 through 28A.900.102.