2424 AMH CB GAVI 6
HB 2424 - H COMM AMD
By Committee on Capital Budget
On page 4, strike lines 27 through 30 and insert:
"Sec. 5. RCW 28A.530.020 and 1996 c 48 ' 1 are each amended to read as follows:
(((1) The question whether the bonds shall
be issued, as provided in RCW 28A.530.010, shall be determined at an election
to be held pursuant to RCW 39.36.050. If a majority of the votes cast at such
election favor the issuance of such bonds, the board of directors must issue
such bonds: PROVIDED, That if the amount of bonds to be issued, together with
any outstanding indebtedness of the district that only needs a simple majority
voter approval, exceeds three-eighths of one percent of the value of the
taxable property in said district, as the term "value of the taxable
property" is defined in RCW 39.36.015, then three-fifths of the votes cast
at such election must be in favor of the issuance of such bonds, before the
board of directors is authorized to issue said bonds.
(2))) The resolution adopted by the board of directors
calling ((the)) an election ((in subsection (1) of this
section)) shall specify the purposes of the debt financing measure,
including the specific buildings to be constructed or remodeled and any
additional specific purposes as authorized by RCW 28A.530.010. If the debt
financing measure anticipates the receipt of state financing assistance under
chapter 28A.525 RCW, the board resolution also shall describe the specific
anticipated purpose of the state assistance. If the school board subsequently
determines that state or local circumstances should cause any alteration to the
specific expenditures from the debt financing or of the state assistance, the
board shall first conduct a public hearing to consider those circumstances and
to receive public testimony. If the board then determines that any such
alterations are in the best interests of the district, it may adopt a new
resolution or amend the original resolution at a public meeting held subsequent
to the meeting at which public testimony was received."
Correct the title
EFFECT: Keeps provisions in law describing the required information school districts must include when requesting authority voter approval to enter into and finance debt. Removes provisions related to the super-majority.