CERTIFICATION OF ENROLLMENT
SENATE BILL 5370
Chapter
11, Laws of 1993
53rd
Legislature
1993
First Special Session
HIGHWAY BONDS‑-STATE
CONTRIBUTION TO PROJECTS FUNDED BY
OTHER
GOVERNMENT ENTITIES
EFFECTIVE
DATE: 8/5/93
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Passed by the Senate May 5, 1993
YEAS 43
NAYS 3
JOEL
PRITCHARD
President of the Senate
Passed by the House May 5, 1993
YEAS 63
NAYS 34
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CERTIFICATE
I, Marty Brown, Secretary of the Senate of the State of
Washington, do hereby certify that the attached is SENATE BILL 5370 as
passed by the Senate and the House of Representatives on the dates hereon set
forth.
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BRIAN EBERSOLE
Speaker of the
House of Representatives
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MARTY
BROWN
Secretary
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Approved May 28, 1993 Place
Style On Codes above, and Style Off Codes below.
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FILED
May 28, 1993 - 1:59 p.m.
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MIKE LOWRY
Governor of the State of Washington
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Secretary of State
State of Washington
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_______________________________________________
SENATE
BILL 5370
_______________________________________________
Passed
Legislature - 1993 First Special Session
State of Washington 53rd
Legislature 1993 Regular Session
By
Read first time 01/26/93. Referred to Committee on
Transportation.
Authorizing state highway bonds.
AN ACT Relating to state highway bonds; and
amending RCW 47.10.761 and 47.10.762.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF
WASHINGTON:
Sec. 1.
RCW 47.10.761 and 1984 c 7 s 111 are each amended to read as follows:
It is the purpose of RCW 47.10.761 through
47.10.771 to provide reserve funds to the department for the following
purposes:
(1) For construction, reconstruction, or repair
of any state highway made necessary by slides, storm damage, or other
unexpected or unusual causes;
(2) For construction or improvement of any
state highway when necessary to alleviate or prevent intolerable traffic
congestion caused by extraordinary and unanticipated economic development
within any area of the state;
(3) To advance funds to any city or county to
be used exclusively for the construction or improvement of any city street or
county road when necessary to alleviate or prevent intolerable traffic congestion
caused by extraordinary and unanticipated economic development within a
particular area of the state. Before funds provided by the sale of bonds as
authorized in RCW 47.10.761 through 47.10.770, are loaned to any city or county
for the purposes specified herein, the department shall enter into an agreement
with the city or county providing for repayment to the motor vehicle fund of
such funds, together with the amount of bond interest thereon, from the city's
or the county's share of the motor vehicle funds arising from excise taxes on
motor vehicle fuels, over a period not to exceed twenty-five years; and
(4) To participate in projects on state
highways or projects benefiting state highways that have been selected for
funding by entities other than the Washington state department of
transportation and require a financing contribution by the department of
transportation.
Sec. 2.
RCW 47.10.762 and 1967 ex.s. c 7 s 14 are each amended to read as follows:
In order to provide reserve funds for the
purposes specified in RCW 47.10.761, there shall be issued and sold ((limited))
general obligation bonds of the state of Washington in the sum of
twenty-five million dollars or such amount thereof and at such times as may be
determined to be necessary by the state ((highway)) transportation
commission. The issuance, sale and retirement of said bonds shall be under the
supervision and control of the state finance committee which, upon request
being made by the Washington state ((highway)) transportation
commission, 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 may be necessary for the ((orderly scheduled construction of the
interstate highway system)) purposes enumerated in RCW 47.10.761.
Passed the Senate May 5, 1993.
Passed the House May 5, 1993.
Approved
by the Governor May 28, 1993.
Filed in Office of Secretary of State May 28,
1993.