89.30.400 - Debt limit -- General. - Washington Statutes

Debt limit — General.

Reclamation districts created under the provisions of this chapter are hereby authorized and empowered to contract indebtedness for district purposes in any manner, when they deem it advisable, not exceeding an amount, together with the existing nonvoter approved indebtedness of such district, of three-fourths of one percent of the value of the taxable property in such district, as the term "value of the taxable property" is defined in RCW 39.36.015.

[1984 c 186 § 63; 1970 ex.s. c 42 § 38; 1927 c 254 § 134; RRS § 7402-134. Formerly RCW 89.26.060.]

Notes: Purpose -- 1984 c 186: See note following RCW 39.46.110.

Severability -- Effective date -- 1970 ex.s. c 42: See notes following RCW 39.36.015.