H-3899              _______________________________________________

                                          SUBSTITUTE HOUSE BILL NO. 1351

                        _______________________________________________

State of Washington                              49th Legislature                              1986 Regular Session

By House Committee on Higher Education (originally sponsored by Representatives Holland, Sommers, Jacobsen, B. Williams,Vander Stoep, D. Nelson, Unsoeld, Miller, Long, G. Nelson and May)

Read first time 1/20/86 and passed to Committee on Rules.

AN ACT Relating to the Metropolitan Tract; amending RCW 28B.20.382; and adding a new section to chapter 28B.20 RCW.

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

        Sec. 1.  Section 1, chapter 174, Laws of 1974 ex. sess. as last amended by section 10, chapter 87, Laws of 1980 and RCW 28B.20.382 are each amended to read as follows:

          Until authorized and empowered to do so by statute of the legislature, the board of regents of the university, with respect to that certain tract of land in the city of Seattle originally known as the "old university grounds" and more recently known as the "Metropolitan Tract" and any land contiguous thereto, shall not sell said land or any part thereof ((or any improvement thereon)), or lease said land or any part thereof or any improvement thereon or renew or extend any lease thereof for a term ending more than sixty years beyond midnight, December 31, 1980.  ((Any sale of said land or any part thereof or any improvement thereon, or any lease or renewal or extension of any lease of said land or any part thereof or any improvement thereon for a term ending more than sixty years after midnight, December 31, 1980, made or attempted to be made by the board of regents shall be null and void unless and until the same has been approved or ratified and confirmed by legislative act.))

          The board of regents shall have power from time to time to lease said land, or any part thereof or any improvement thereon for a term ending not more than sixty years beyond midnight, December 31, 1980:  PROVIDED, That the board of regents shall make a full, detailed report of all leases and transactions pertaining to said land or any part thereof or any improvement thereon to each regular session of the legislature during an odd-numbered year:  PROVIDED FURTHER, That any and all records, books, accounts and/or agreements of any lessee or sublessee under this section, pertaining to compliance with the terms and conditions of such lease or sublease, shall be open to inspection by the board of regents and/or the ways and means committees of the senate ((or the appropriations committee of)) and the house of representatives or any successor committee of either.  It is not intended by this proviso that unrelated records, books, accounts and/or agreements of lessees, sublessees or related companies be open to such inspection.

NEW SECTION. Sec. 2.  A new section is added to chapter 28B.20 RCW to read as follows:

          The board of regents of the university is hereby authorized to sell all or part of the improvements on that tract of land known as the "Metropolitan Tract."  The proceeds of any sale shall be held in trust by the board of regents.  The principal of the trust shall not be expended.  The board of regents may expend income from the trust solely for purposes of the university.