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ENGROSSED HOUSE BILL 2788
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State of Washington 56th Legislature 2000 2nd Special Session
By Representatives Fisher, Mitchell, Radcliff, Scott and Hurst; by request of Transportation Improvement Board
Read first time 01/20/2000. Referred to Committee on Transportation.
AN ACT Relating to funds for transportation projects; and amending RCW 47.26.500.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 47.26.500 and 1994 c 179 s 28 are each amended to read as follows:
In order to provide funds necessary to meet the urgent construction
needs on state, county, and city transportation projects, there are hereby
authorized for issuance general obligation bonds of the state of Washington in
the sum of ((fifty)) one hundred million dollars, which shall be
issued and sold in such amounts and at such times as determined to be necessary
by the state transportation improvement board. The amount of such bonds issued
and sold under the provisions of RCW 47.26.500 through 47.26.507 in any
biennium shall not exceed the amount of a specific appropriation therefor,
from the proceeds of such bonds, for the construction of state, county, and
city transportation projects. The issuance, sale, and retirement of the bonds
shall be under the supervision and control of the state finance committee
which, upon request being made by the board, shall provide for the issuance,
sale, and retirement of coupon or registered bonds to be dated, issued, and
sold from time to time in such amounts as shall be requested by the board. ((The
board shall report all bond sale requests to the commission.))
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