H-2191              _______________________________________________

                                                   HOUSE BILL NO. 2201

                        _______________________________________________

State of Washington                               51st Legislature                              1989 Regular Session

By Representatives Walk, Jones, Hargrove, Zellinsky, Schmidt and Vekich

Read first time 3/2/89 and referred to Committee on Transportation.

AN ACT Relating to toll bridges and ferries; and amending RCW 47.60.160 and 47.60.420.

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

        Sec. 1.  Section 47.60.160, chapter 13, Laws of 1961 as amended by section 312, chapter 7, Laws of 1984 and RCW 47.60.160 are each amended to read as follows:

          If it be ascertained that any expense to the motor vehicle fund has been incurred in any manner under this chapter through the department or otherwise, all such expenses shall be promptly reimbursed to the motor vehicle fund out of tolls and revenues derived by the department through any or all of its operations hereunder.  This section does not apply to payments of principal and interest on bonds, sinking fund requirements, and payments into reserves related to the ferry and Hood Canal bridge refunding revenue bonds issued under RCW 47.60.400.

        Sec. 2.  Section 3, chapter 9, Laws of 1961 ex. sess. as last amended by section 4, chapter 66, Laws of 1986 and RCW 47.60.420 are each amended to read as follows:

          To the extent that all revenues from the Washington state ferry system and the Hood Canal bridge available therefor are insufficient to provide for the payment of principal and interest on the bonds authorized and issued under RCW 47.60.400 through 47.60.470 and for sinking fund requirements established with respect thereto and for payment into such reserves as the department has established with respect to the securing of the bonds, there is imposed a first and prior charge against the Puget Sound capital construction account of the motor vehicle fund created by RCW 47.60.505 and, to the extent required, against all revenues required by RCW 46.68.100 to be deposited in the Puget Sound capital construction account.

          To the extent that the revenues from the Washington state ferry system and the Hood Canal bridge available therefor are insufficient to meet required payments of principal and interest on bonds, sinking fund requirements, and payments into reserves, the department shall use moneys in the Puget Sound capital construction account for such purpose.  ((Any moneys from the Puget Sound capital construction account used by the department to pay the obligations shall be repaid by the department to the motor vehicle fund from tolls of the Washington state ferry system and the Hood Canal bridge, and tolls shall be continued for any required additional length of time necessary for this purpose.))