79.15.550 - Mitigation against the potential for contract default -- Report to the legislature. - Washington Statutes

Mitigation against the potential for contract default — Report to the legislature. (Expires January 1, 2014.)

(1) The department is directed, to the extent possible under current law consistent with its responsibility to the trust beneficiaries, to consider requests from purchasers for timber sale extensions and to provide flexibility in timber sale contract administration to help mitigate against the potential for contract default.

     (2) By December 1, 2009, the department shall report to the appropriate committees of the legislature on the status of existing contracts, contract extensions, contract defaults, and shall provide a timber market forecast for 2010 and 2011.

[2009 c 418 § 5.]

Notes: Findings -- Intent -- Expiration date -- 2009 c 418: See notes following RCW 79.15.510.