46.68.280 - Transportation 2003 account (nickel account). - Washington Statutes

Transportation 2003 account (nickel account).

(1) The transportation 2003 account (nickel account) is hereby created in the motor vehicle fund. Money in the account may be spent only after appropriation. Expenditures from the account must be used only for projects or improvements identified as transportation 2003 projects or improvements in the omnibus transportation budget and to pay the principal and interest on the bonds authorized for transportation 2003 projects or improvements. Upon completion of the projects or improvements identified as transportation 2003 projects or improvements, moneys deposited in this account must only be used to pay the principal and interest on the bonds authorized for transportation 2003 projects or improvements, and any funds in the account in excess of the amount necessary to make the principal and interest payments may be used for maintenance on the completed projects or improvements.

     (2) The "nickel account" means the transportation 2003 account.

[2003 c 361 § 601.]

Notes: Findings -- Part headings not law -- Severability -- 2003 c 361: See notes following RCW 82.36.025.

Effective dates -- 2003 c 361: See note following RCW 82.08.020.