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SENATE
BILL 6748
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Passed
Legislature - 2000 Regular Session
State of Washington 56th
Legislature 2000 Regular Session
By
Read first time 01/26/2000.
Referred to Committee on State & Local Government.
Increasing
local government debt limits to finance capital facilities.
AN
ACT Relating to increasing a city or town debt limit for purposes of financing
capital facilities associated with economic development; amending RCW
39.36.020; and declaring an emergency.
BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
39.36.020 and 1994 c 277 s 1 are each amended to read as follows:
(1)
Except as otherwise expressly provided by law or in subsections (2), (3) and
(4) of this section, no taxing district shall for any purpose become indebted
in any manner to an amount exceeding three‑eighths of one percent of the
value of the taxable property in such taxing district without the assent of
three‑fifths of the voters therein voting at an election to be held for
that purpose, nor in cases requiring such assent shall the total indebtedness
incurred at any time exceed one and one-fourth percent on the value of the
taxable property therein.
(2)(a)(i)
Public hospital districts are limited to an indebtedness amount not exceeding
three-fourths of one percent of the value of the taxable property in such
public hospital districts without the assent of three-fifths of the voters
therein voting at an election held for that purpose.
(ii)
Counties, cities, and towns are limited to an indebtedness amount not exceeding
one and one-half percent of the value of the taxable property in such counties,
cities, or towns without the assent of three-fifths of the voters therein
voting at an election held for that purpose.
(b)
In cases requiring such assent counties, cities, towns, and public hospital
districts are limited to a total indebtedness of two and one-half percent of
the value of the taxable property therein. However, any county that has assumed
the rights, powers, functions, and obligations of a metropolitan municipal
corporation under chapter 36.56 RCW may become indebted to a larger amount for
its authorized metropolitan functions, as provided under chapter 35.58 RCW, but
not exceeding an additional three-fourths of one percent of the value of the
taxable property in the county without the assent of three-fifths of the voters
therein voting at an election held for that purpose, and in cases requiring
such assent not exceeding an additional two and one-half percent of the value
of the taxable property in the county.
(3)
School districts are limited to an indebtedness amount not exceeding
three-eighths of one percent of the value of the taxable property in such
district without the assent of three‑fifths of the voters therein voting
at an election held for that purpose. In cases requiring such assent school
districts are limited to a total indebtedness of two and one-half percent of
the value of the taxable property therein.
(4)
No part of the indebtedness allowed in this chapter shall be incurred for any
purpose other than strictly county, city, town, school district, township, port
district, metropolitan park district, or other municipal purposes: PROVIDED,
That a city or town, with such assent, may become indebted to a larger amount,
but not exceeding two and one-half percent additional, determined as herein
provided, for supplying such city or town with water, artificial light, and
sewers, when the works for supplying such water, light, and sewers shall be
owned and controlled by the city or town; and a city or town, with such assent,
may become indebted to a larger amount, but not exceeding two and one-half
percent additional for acquiring or developing open space ((and)),
park facilities, and capital facilities associated with economic development:
PROVIDED FURTHER, That any school district may become indebted to a larger
amount but not exceeding two and one-half percent additional for capital
outlays.
(5)
Such indebtedness may be authorized in any total amount in one or more
propositions and the amount of such authorization may exceed the amount of
indebtedness which could then lawfully be incurred. Such indebtedness may be
incurred in one or more series of bonds from time to time out of such
authorization but at no time shall the total general indebtedness of any taxing
district exceed the above limitation.
The
term "value of the taxable property" as used in this section shall
have the meaning set forth in RCW 39.36.015.
NEW SECTION. Sec. 2. This
act is necessary for the immediate preservation of the public peace, health, or
safety, or support of the state government and its existing public
institutions, and takes effect immediately.
