SENATE BILL REPORT

                                    HB 2426

             AS REPORTED BY COMMITTEE ON GOVERNMENTAL OPERATIONS,

                               FEBRUARY 20, 1992

Brief Description:  Extending the maturity date for general obligation bonds issued by fire protection districts.

SPONSORS: Representatives Rayburn, Nealey and Fraser

HOUSE COMMITTEE ON LOCAL GOVERNMENT

SENATE COMMITTEE ON GOVERNMENTAL OPERATIONS

Majority Report:  Do pass. 

      Signed by Senators McCaslin, Chairman; Roach, Vice Chairman; Madsen, and Sutherland.

Staff:  Eugene Green (786‑7405)

Hearing Dates: February 20, 1992

BACKGROUND:

Fire protection districts are authorized to issue general indebtedness for a maximum term of six years.

The normal maximum term of general indebtedness for local governments is 40 years.

SUMMARY:

The maximum term of general indebtedness for fire protection districts is increased from six years to 15 years.

Appropriation:  none

Revenue:  none

Fiscal Note:  none requested

TESTIMONY FOR:

By extending the length of the period the district has to pay the debt, the district is given more leeway in providing services, equipment and facilities, without resorting to additional costs for taxpayers.

TESTIMONY AGAINST:  None

TESTIFIED:  Pete Spiller, Washington Fire Commissioners Association