Z-1165.1  _______________________________________________

 

                          HOUSE BILL 2788

          _______________________________________________

 

State of Washington      56th Legislature     2000 Regular Session

 

By Representatives Fisher, Mitchell, Radcliff, Scott and Hurst; by request of Transportation Improvement Board

 

Read first time 01/20/2000.  Referred to Committee on Transportation.

Funding transportation projects.


    AN ACT Relating to funds for transportation projects; and amending RCW 47.26.500.

 

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

 

    Sec. 1.  RCW 47.26.500 and 1994 c 179 s 28 are each amended to read as follows:

    In order to provide funds necessary to meet the urgent construction needs on state, county, and city transportation projects, there are hereby authorized for issuance general obligation bonds of the state of Washington in the sum of one hundred fifty million dollars, which shall be issued and sold in such amounts and at such times as determined to be necessary by the state transportation improvement board.  The amount of such bonds issued and sold under the provisions of RCW 47.26.500 through 47.26.507 in any biennium shall not exceed the amount of a specific  appropriation therefor, from the proceeds of such bonds, for the construction of state, county, and city transportation projects.  The issuance, sale, and retirement of the bonds shall be under the supervision and control of the state finance committee which, upon request being made by the board, 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 shall be requested by the board.  ((The board shall report all bond sale requests to the commission.))

 


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