BILL REQ. #:  S-4422.1 

Read first time 01/18/2006.   Referred to Committee on Transportation.

     AN ACT Relating to funds collected from construction of the second Tacoma Narrows bridge; and amending RCW 47.56.165 and 47.12.063.

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

Sec. 1   RCW 47.56.165 and 2002 c 114 s 11 are each amended to read as follows:
     A special account to be known as the Tacoma Narrows toll bridge account is created in the motor vehicle fund in the state treasury.
     (1) Deposits to the account must include:
     (a) All proceeds of bonds issued for construction of the Tacoma Narrows public-private initiative project, including any capitalized interest;
     (b) All of the toll charges and other revenues received from the operation of the Tacoma Narrows bridge as a toll facility, to be deposited at least monthly; ((and))
     (c) Any interest that may be earned from the deposit or investment of those revenues;
     (d) Notwithstanding RCW 47.12.063, proceeds from the sale of any surplus real property acquired for the purpose of building the second Tacoma Narrows bridge; and
     (e) All liquidated damages collected under any contract involving the construction of the second Tacoma Narrows bridge.
     (2) Proceeds of bonds shall be used consistent with RCW 47.46.130, including the reimbursement of expenses and fees incurred under agreements entered into under RCW 47.46.040 as required by those agreements.
     (3) Toll charges, other revenues, and interest may be used to:
     (a) Pay any required costs of financing, operation, maintenance, and management and necessary repairs of the facility; and
     (b) Repay amounts to the motor vehicle fund as required under RCW 47.46.140.
     (4) When repaying the motor vehicle fund under RCW 47.46.140, the state treasurer shall transfer funds from the Tacoma Narrows toll bridge account to the motor vehicle fund on or before each debt service date for bonds issued for the Tacoma Narrows public-private initiative project in an amount sufficient to repay the motor vehicle fund for amounts transferred from that fund to the highway bond retirement fund to provide for any bond principal and interest due on that date. The state treasurer may establish subaccounts for the purpose of segregating toll charges, bond sale proceeds, and other revenues.

Sec. 2   RCW 47.12.063 and 2002 c 255 s 1 are each amended to read as follows:
     (1) It is the intent of the legislature to continue the department's policy giving priority consideration to abutting property owners in agricultural areas when disposing of property through its surplus property program under this section.
     (2) Whenever the department determines that any real property owned by the state of Washington and under the jurisdiction of the department is no longer required for transportation purposes and that it is in the public interest to do so, the department may sell the property or exchange it in full or part consideration for land or improvements or for construction of improvements at fair market value to any of the following governmental entities or persons:
     (a) Any other state agency;
     (b) The city or county in which the property is situated;
     (c) Any other municipal corporation;
     (d) Regional transit authorities created under chapter 81.112 RCW;
     (e) The former owner of the property from whom the state acquired title;
     (f) In the case of residentially improved property, a tenant of the department who has resided thereon for not less than six months and who is not delinquent in paying rent to the state;
     (g) Any abutting private owner but only after each other abutting private owner (if any), as shown in the records of the county assessor, is notified in writing of the proposed sale. If more than one abutting private owner requests in writing the right to purchase the property within fifteen days after receiving notice of the proposed sale, the property shall be sold at public auction in the manner provided in RCW 47.12.283;
     (h) To any person through the solicitation of written bids through public advertising in the manner prescribed by RCW 47.28.050;
     (i) To any other owner of real property required for transportation purposes;
     (j) In the case of property suitable for residential use, any nonprofit organization dedicated to providing affordable housing to very low-income, low-income, and moderate-income households as defined in RCW 43.63A.510 and is eligible to receive assistance through the Washington housing trust fund created in chapter 43.185 RCW; or
     (k) A federally recognized Indian tribe within whose reservation boundary the property is located.
     (3) Sales to purchasers may at the department's option be for cash, by real estate contract, or exchange of land or improvements. Transactions involving the construction of improvements must be conducted pursuant to chapter 47.28 RCW or Title 39 RCW, as applicable, and must comply with all other applicable laws and rules.
     (4) Conveyances made pursuant to this section shall be by deed executed by the secretary of transportation and shall be duly acknowledged.
     (5) Unless otherwise provided, all moneys received pursuant to the provisions of this section less any real estate broker commissions paid pursuant to RCW 47.12.320 shall be deposited in the motor vehicle fund.