H-1383              _______________________________________________

                                                    HOUSE BILL NO. 595

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Representatives Valle, Grimm, Braddock, Winsley, Nelson, S. Wilson, Ebersole, Hankins, Locke, Bristow, Holland, May, Kremen and Unsoeld

Read first time 2/4/87 and referred to Committee on State Government.

AN ACT Relating to expenses incurred in the issuance of bonds; and adding a new section to chapter 39.44 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 39.44 RCW to read as follows:

          For bonds issued after the effective date of this section by any county, city, town, municipal corporation, quasi-municipal corporation, junior taxing district, school district, or other political subdivision of the state, the legal expenses of bond counsel may be paid from general revenues and shall not be paid from the proceeds of the sale of the bonds for which they were incurred.