Z-0898.1  _______________________________________________

                         SENATE BILL 5986

          _______________________________________________

State of Washington      54th Legislature     1995 Regular Session

By Senator Gaspard

Read first time 02/21/95.  Referred to Committee on Education.

Issuing school district bonds.

    AN ACT Relating to school district indebtedness; amending RCW 28A.530.080; and adding a new section to chapter 28A.530 RCW.

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

    Sec. 1.  RCW 28A.530.080 and 1991 c 114 s 1 are each amended to read as follows:

    ((In addition to the authority granted under RCW 28A.530.010,)) A school district may contract indebtedness for the ((purpose of)) purposes set forth in RCW 28A.530.010(1) through (6) and for purchasing any real or personal property, or property rights, in connection with the exercise of any powers or duties which it is now or hereafter authorized to exercise, and issue bonds, notes, or other evidences of indebtedness therefor without a vote of the qualified electors of the district, subject to the limitations on indebtedness set forth in RCW 39.36.020(3).  Such bonds, notes, or other evidences of indebtedness shall be issued and sold in accordance with chapter 39.46 RCW, and the proceeds thereof shall be deposited in the capital projects fund, the transportation vehicle fund, or the general fund, as applicable.

NEW SECTION. Sec. 2.  A new section is added to chapter 28A.530 RCW to read as follows:

    All bonds that have been or may be issued by any school district for any of the purposes authorized under RCW 28A.530.080 are valid.  Bonds issued prior to the effective date of this act are not invalidated by section 1, chapter . . ., Laws of 1995 (section 1 of this act).

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