SENATE BILL 6414
State of Washington 52nd Legislature 1992 Regular Session
By Senators Bailey, Rinehart, Murray, Pelz and Skratek
Read first time . Referred to Committee on Education.
AN ACT Relating to validation requirements for school district elections; and amending RCW 84.52.056.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 84.52.056 and 1973 1st ex.s. c 195 s 104 are each amended to read as follows:
municipal corporation otherwise authorized by law to issue general obligation
bonds for capital purposes may, at an election duly held after giving notice
thereof as required by law, authorize the issuance of general obligation bonds
for capital purposes only, which shall not include the replacement of
equipment, and provide for the payment of the principal and interest of such
bonds by annual levies in excess of the tax limitations contained in RCW
84.52.050 to 84.52.056, inclusive and RCW 84.52.043. Such an election shall
not be held oftener than twice a calendar year, and the proposition to issue
any such bonds and to exceed said tax limitation must receive the affirmative
vote of a three-fifths majority of those voting on the proposition and the
total number of persons voting at such election must constitute not less than
forty percent of the voters in said municipal corporation who voted at the last
preceding state-wide general ((
state)) election: PROVIDED,
That for school district general obligation bonds, the total number of persons
voting at such election shall constitute not less than forty percent of the
largest number of voters casting votes on any single school district general
election issue or candidacy.
Any taxing district shall have the right by vote of its governing body to refund any general obligation bonds of said district issued for capital purposes only, and to provide for the interest thereon and amortization thereof by annual levies in excess of the tax limitations provided for in RCW 84.52.050 to 84.52.056, inclusive and RCW 84.52.043.