AN ACT Relating to general obligation bonds for financing zoo and aquarium development; adding new sections to chapter 43.99B RCW; and declaring an emergency.

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

NEW SECTION. Sec. 1. Recent national studies have shown that the quality of life in a state is the single most important factor for many corporations in deciding where to locate. Tourism is becoming the single most important industry in Washington. The zoos of Seattle, Tacoma, and Spokane compose the public zoos of the state of Washington. It is in the interest of Washington to enhance the quality of these zoos, while retaining their local ownership. Washington has a history of assisting local park development. These zoos represent a factor in our state's quality of life for our children and families, major tourist designations, economic development projects for our state's three largest urban centers, centers for the breeding of endangered species, centers for educating our citizens about domestic and wild animals, and in urban areas are a source for education of children on the importance of farming and our state's agricultural industry. The three zoos together are a state resource benefiting all of the people of the state. State assistance in completing the capital programs of these zoos benefits the state of Washington, its citizens, and particularly its children, who are a significant share of zoo visitors.

NEW SECTION. Sec. 2. For the purpose of providing funds for the capital investment in zoo and aquarium exhibits and infrastructure, particularly natural habitats, in the Seattle, Tacoma, and Spokane zoos, the state finance committee is authorized to issue general obligation bonds of the state of Washington in the sum of fifteen million dollars, or so much thereof as may be required, to finance these projects and all costs incidental thereto. Bonds authorized in this section may be sold at such price as the state finance committee shall determine. No bonds authorized in this section may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.

NEW SECTION. Sec. 3. The proceeds from the sale of the bonds authorized in section 2 of this act shall be deposited in the outdoor recreation account and shall be allocated to the interagency committee for outdoor recreation for the specific purpose of funding zoo and aquarium exhibits, particularly animal exhibits and habitats, animal care facilities, capital projects that enhance the breeding of endangered species; visitor education facilities; family farms; public graphics; necessary public amenities including restrooms, paths, and required public health and safety investments; utilities; infrastructure for the operation of zoo and aquarium facilities; and for the payment of expenses incurred in the issuance and sale of the bonds. Projects may be both for new development and rehabilitation. No funds may be expended for restaurants, food or drink concessions, amusement rides, or local acquisition. The interagency committee for outdoor recreation shall review individual projects to ensure there is compliance with the intent of sections 1 through 7 of this act. These proceeds shall be administered by the interagency committee for outdoor recreation, subject to legislative appropriation.

NEW SECTION. Sec. 4. The proceeds from the sale of the bonds authorized by section 2 of this act may be used for projects at the Seattle zoo, the Seattle aquarium, the Tacoma zoo (either of the two locations, including the aquarium), and Spokane's walk in the wild zoo. The governing board of each zoo may apply for funds for eligible projects. The metropolitan park board of Tacoma shall be allocated a total of five million dollars, the Seattle zoo and aquarium shall be allocated a total of five million dollars, and the Spokane zoological society shall be allocated the total of five million dollars of the bond proceeds.

The governing boards have four years to apply for state funds. The interagency committee for outdoor recreation shall act promptly on project requests after reviewing the proposals.

NEW SECTION. Sec. 5. The state general obligation bond retirement fund shall be used for the payment of the principal of and interest on the bonds authorized in section 2 of this act.

The state finance committee shall, on or before June 30th of each year, certify to the state treasurer the amount needed in the ensuing twelve months to meet the bond retirement and interest requirements. Not less than thirty days before the date on which any interest or principal and interest payment is due, the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the general obligation bond retirement fund an amount equal to the amount certified by the state finance committee to be due on the payment date.

Bonds issued under section 2 of this act shall state that they are a general obligation of the state of Washington, shall pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and shall contain an unconditional promise to pay the principal and interest as the same shall become due.

The owner and holder of each of the bonds or the trustee for the owner and holder of any of the bonds may by mandamus or other appropriate proceeding require the transfer and payment of funds as directed in this section.

NEW SECTION. Sec. 6. The legislature may provide additional means for raising moneys for the payment of the principal of and interest on the bonds authorized in section 2 of this act, and section 5 of this act shall not be deemed to provide an exclusive method for the payment.

NEW SECTION. Sec. 7. The bonds authorized in section 2 of this act shall be a legal investment for all state funds or funds under state control and for all funds of any other public body.

NEW SECTION. Sec. 8. Sections 1 through 7 of this act are each added to chapter 43.99B RCW.

NEW SECTION. Sec. 9. If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.

NEW SECTION. Sec. 10. This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately.