H-1518              _______________________________________________

                                                    HOUSE BILL NO. 987

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Representatives Todd, Crane, Cantwell and Hine

Read first time 2/18/87 and referred to Committee on Transportation.

AN ACT Relating to local and multijurisdictional road and street projects; and adding new sections to chapter 47.26 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 47.26 RCW to read as follows:

          A county road service area formed under chapter 36.83 RCW or, subject to House Bill No. 396 of 1986 becoming law, a transportation benefit district, is an eligible recipient for urban arterial trust account funds or any fund established in the future for the purpose of funding local or multijurisdictional road and street projects.

NEW SECTION. Sec. 2.  A new section is added to chapter 47.26 RCW to read as follows:

          To be eligible for funding under section 1 of this act, a county road service district or, subject to House Bill No. 396 of 1986 becoming law, a transportation benefit district, must meet the following criteria:

          (1) Projects shall meet all of the criteria under this chapter; and

          (2) A minimum of two-thirds of project costs shall be derived from local or private sources, or a combination of such sources, including voter-approved general obligation bonds; and

          (3) A maximum of one-third of project costs shall be derived from voter-approved general obligation bonds issued under chapter 36.83 RCW, or subject to House Bill No. 396 of 1986 becoming law.  Such costs may be derived from impact fees, voter-approved general obligation bonds, gifts and grants, local improvement districts, and voter-approved annual excess property tax levies.