47.10.870 - Statement of general obligation -- Transfer and payment of funds. - Washington Statutes

Statement of general obligation — Transfer and payment of funds.

(1) Bonds issued under RCW 47.10.867 must state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal and interest, and must contain an unconditional promise to pay the principal and interest as it becomes due.

     (2) The owner and holder of each of the bonds or the trustee for the owner and holder of any of the bonds may by mandamus or other appropriate proceeding require the transfer and payment of funds as directed in this section.

[2003 c 147 § 10.]

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