HOUSE BILL REPORT

ESHB 621

BYHouse Committee on Ways & Means (originally sponsored by Representatives Bristow, Silver, Locke, Holland, Grimm, L. Smith, Basich and P. King; by request of  Governor Gardner)

Authorizing state general obligation bonds for capital projects.

House Committe on Ways & Means

Majority Report:     The substitute bill be substituted therefor and the substitute bill do pass.  (23)

     Signed by Representatives Grimm, Chair; Bristow, Vice Chair; Allen, Appelwick, Basich, Belcher, Braddock, Brekke, Ebersole, Grant, Hine, Holland, Locke, Madsen, McMullen, Nealey, Niemi, Peery, Rust, Sayan, H. Sommers, Sprenkle and Valle.

Minority Report:     Do not pass.  (3)

     Signed by Representatives Fuhrman, McLean and Taylor.

House Staff:Greg Pierce (786-7148)

AS PASSED HOUSE APRIL 22, 1987

BACKGROUND:

Bond issues are required to fund appropriations for projects contained in the capital budget.  These projects are for various state agencies including higher education, parks, fisheries, and common schools.

SUMMARY:

The state finance committee is authorized to issue $395 million in general obligations bonds to carry out the purposes of HB 327, the capital budget.  This authorization includes $30 million which will be transferred to the common school construction account.

The authorization also includes bonds for appropriations appropriated in the supplemental budget, $1.1 million, and the operating budget, $.5 million.  It contains authority to issue $3.2 million in reimbursable bonds for Washington State University.  Finally, the measure consolidates into this authorization a small amount of current bonding authority, $2.0 million, for the fisheries capital account and the outdoor recreation account.

House Committee ‑ Testified For:     None Presented.

House Committee - Testified Against: None Presented.

House Committee - Testimony For:     None Presented.

House Committee - Testimony Against: None Presented.