| Passed by the Senate April 19, 2009 YEAS 35 ________________________________________ President of the Senate Passed by the House April 15, 2009 YEAS 73 ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 5452 as passed by the Senate and the House of Representatives on the dates hereon set forth. ________________________________________ Secretary | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 61st Legislature | 2009 Regular Session |
Read first time 01/22/09. Referred to Committee on Financial Institutions, Housing & Insurance.
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 2008 c 111 s 1 are each amended to read
as follows:
The total amount of outstanding indebtedness of the commission may
not exceed ((five)) six 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.