S-402                 _______________________________________________

                                                   SENATE BILL NO. 5129

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Senators Talmadge, Garrett, Lee and Stratton

Read first time 1/16/87 and referred to Committee on Transportation.

AN ACT Relating to the First Avenue South bridge; and adding a new section to chapter 47.56 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 47.56 RCW to read as follows:

          (1) The transportation commission shall:

          (a) Issue and sell revenue bonds under the provisions of this chapter for the purpose of constructing a bridge on First Avenue South in Seattle; and

          (b) Impose and collect tolls on the bridge for the purpose of funding the revenue bonds issued under this section.

          (2) The commission shall seek additional funding for the bridge from local sources, including the city, county, and port district.  Any funding obtained from local sources shall be matched by an equal amount of category C state funds under chapter 47.05 RCW.