5675.SL

CERTIFICATION OF ENROLLMENT

SENATE BILL 5675

Chapter 361, Laws of 1993

53rd Legislature

1993 Regular Session

STORM WATER CONTROL FACILITIES‑-COUNTY COLLECTION OF

DEBT SERVICE ALLOCATIONS

EFFECTIVE DATE: 7/25/93

Passed by the Senate April 25, 1993

YEAS 42 NAYS 1

JOEL PRITCHARD

President of the Senate

Passed by the House April 25, 1993

YEAS 98 NAYS 0

CERTIFICATE

I, Marty Brown, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 5675 as passed by the Senate and the House of Representatives on the dates hereon set forth.

BRIAN EBERSOLE

Speaker of the

House of Representatives

MARTY BROWN

Secretary

Approved May 15, 1993

FILED

May 15, 1993 - 11:02 a.m.

MIKE LOWRY

Governor of the State of Washington

Secretary of State

State of Washington

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SENATE BILL 5675

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AS RECOMMENDED BY THE CONFERENCE COMMITTEE

Passed Legislature - 1993 Regular Session

State of Washington 53rd Legislature 1993 Regular Session

By Senators Drew, Loveland, Skratek and Haugen

Read first time 02/08/93. Referred to Committee on Government Operations.

AN ACT Relating to financing debt for storm water control facilities; adding a new section to chapter 36.89 RCW; and adding a new section to chapter 36.94 RCW.

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

NEW SECTION. Sec. 1. A new section is added to chapter 36.89 RCW to read as follows:

Whenever a city or town annexes an area, or a city or town incorporates an area, and the county has issued revenue bonds or general obligation bonds to finance storm water control facilities that are payable in whole or in part from rates or charges imposed in the area, the county shall continue imposing all portions of the rates or charges that are allocated to payment of the debt service on bonds in that area after the effective date of the annexation or official date of the incorporation until: (1) The debt is retired; (2) any debt that is issued to refinance the underlying debt is retired; or (3) the city or town reimburses the county amount that is sufficient to retire that portion of the debt borne by the annexed or incorporated area. The county shall construct all facilities included in the storm water plan intended to be financed by the proceeds of such bonds. If the county provides storm water management services to the city or town by contract, the contract shall consider the value of payments made by property owners to the county for the payment of debt service.

The provisions of this section apply whether or not the bonds finance facilities that are geographically located within the area that is annexed or incorporated.

NEW SECTION. Sec. 2. A new section is added to chapter 36.94 RCW to read as follows:

Whenever a city or town annexes an area, or a city or town incorporates an area, and the county has issued revenue bonds or general obligation bonds to finance storm or surface water drains or facilities that are payable in whole or in part from rates or charges imposed in the area, the county shall continue imposing all portions of the rates or charges that are allocated to payment of the debt service on bonds in that area after the effective date of the annexation or official date of the incorporation until: (1) The debt is retired; (2) any debt that is issued to refinance the underlying debt is retired; or (3) the city or town reimburses the county amount that is sufficient to retire that portion of the debt borne by the annexed or incorporated area. The county shall construct all facilities included in the storm water plan intended to be financed by the proceeds of such bonds. If the county provides storm water management services to the city or town by contract, the contract shall consider the value of payments made by property owners to the county for the payment of debt service.

The provisions of this section apply whether or not the bonds finance facilities that are geographically located within the area that is annexed or incorporated.