47.10.862 - Administration and amount of sale. - Washington Statutes

Administration and amount of sale.

Upon the request of the secretary of the department of transportation, as appropriate, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds in RCW 47.10.861 through 47.10.866 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.861 through 47.10.866 shall be sold in the manner, at time or times, in amounts, and at the price as the state finance committee shall determine. No bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.

     The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.

[2006 c 334 § 32; 2003 c 147 § 2.]

Notes: Effective date -- 2006 c 334: See note following RCW 47.01.051.

Effective date -- 2003 c 147: See note following RCW 47.10.861.