H-3836.1          _______________________________________________

                                  HOUSE BILL 2426

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State of Washington              52nd Legislature             1992 Regular Session

By Representatives Rayburn, Nealey and Fraser

Read first time 01/16/92.  Referred to Committee on Local Government.Extending the maturity date for general obligation bonds issued by fire protection districts.

     AN ACT Relating to general obligation bonds issued by a fire protection district; and amending RCW 52.16.061.

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

     Sec. 1.  RCW 52.16.061 and 1984 c 186 s 39 are each amended to read as follows:

     The board of fire commissioners of the district shall have authority to contract indebtedness and to refund same for any general district purpose, including expenses of maintenance, operation and administration, and the acquisition of firefighting facilities, and evidence the same by the issuance and sale of general obligation bonds of the district payable at such time or times not longer than ((six)) fifteen years from the issuing date of the bonds.  Such bonds shall be issued and sold in accordance with chapter 39.46 RCW.  Such bonds shall not exceed an amount, together with any outstanding nonvoter approved general obligation indebtedness, equal to three-eighths of one percent of the value of the taxable property within the fire protection district, as the term "value of the taxable property" is defined in RCW 39.36.015.