Z-107                 _______________________________________________

                                                     HOUSE BILL NO. 77

                        _______________________________________________

                                                                            C 176 L 85

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Walk, S. Wilson, Schmidt, Valle, Fisch and Haugen; by Department of Transportation request

Read first time 1/18/85 and referred to Committee on Transportation.

AN ACT Relating to ferry system bonds; and amending RCW 47.60.560.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 1, chapter 360, Laws of 1977 ex. sess. as amended by section 336, chapter 7, Laws of 1984 and RCW 47.60.560 are each amended to read as follows:

          In order to provide funds necessary for vessel acquisition, vessel construction, major and minor vessel improvements, and terminal construction and improvements for the Washington state ferries, there shall be issued and sold upon the request of the department general obligation bonds of the state of Washington in the sum of one hundred thirty-five million dollars or such amount thereof as may be required (together with other funds available therefor).  If the state of Washington is able to obtain matching funds from the urban mass transportation administration or other federal government agencies for the acquisition of ((four high-speed,)) passenger-only vessels capable of operating as an integral part of the Washington state ferries on Puget Sound and the Straits of Juan de Fuca, a sufficient amount of the proceeds of the bonds authorized herein shall be used to pay the state's share of the acquisition cost of the ((high-speed,)) passenger-only vessels.  ((The high-speed, passenger-only vessels shall be of existing design currently manufactured in the United States, shall have a normal cruising speed in excess of forty knots, and shall have a passenger capacity of two hundred fifty to three hundred fifty passengers.))  Upon request being made by the department, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds in accordance with chapter 39.42 RCW.  The bonds may be sold from time to time in such amounts as may be necessary for the orderly progress in constructing the ferries.

                                                                                                                      Passed the House February 11, 1985.

                                                                                                                                         Speaker of the House.

                                                                                                                           Passed the Senate April 12, 1985.

                                                                                                                                       President of the Senate.