BILL REQ. #: Z-0834.1
| State of Washington | 59th Legislature | 2006 Regular Session |
Read first time 01/11/2006. Referred to Committee on Financial Institutions, Housing & Consumer Protection.
AN ACT Relating to increasing the debt limit of the housing finance commission; and amending RCW 43.180.160.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 43.180.160 and 1999 c 131 s 2 are each amended to read
as follows:
The total amount of outstanding indebtedness of the commission may
not exceed ((three)) five billion dollars at any time. The calculation
of outstanding indebtedness shall include the initial principal amount
of an issue and shall not include interest that is either currently
payable or that accrues as a part of the face amount of an issue
payable at maturity or earlier redemption. Outstanding indebtedness
shall not include notes or bonds as to which the obligation of the
commission has been satisfied and discharged by refunding or for which
payment has been provided by reserves or otherwise.