S-3581               _______________________________________________

                                                   SENATE BILL NO. 6556

                        _______________________________________________

State of Washington                               51st Legislature                              1990 Regular Session

By Senators Kreidler and Moore

Read first time 1/17/90 and referred to Committee on  Ways & Means.

AN ACT Relating to disposition of certain normal school fund revenues; and amending RCW 28B.35.751.

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

        Sec. 1.  Section 28B.40.751, chapter 223, Laws of 1969 ex. sess. as amended by section 87, chapter 169, Laws of 1977 ex. sess. and RCW 28B.35.751 are each amended to read as follows:

          All moneys received from the lease or rental of lands set apart by the enabling act for state normal schools purposes; all interest or income arising from the proceeds of the sale of such lands or of the timber, fallen timber, stone, gravel, or other valuable material thereon; and all moneys received as interest on deferred payments on contracts for the sale of such lands, shall from time to time be paid into the state treasury and credited to the Eastern Washington University, Central Washington University, Western Washington University and The Evergreen State College accounts as herein provided to be expended for capital projects, and bond retirement purposes as set forth in RCW 28B.35.750, as now or hereafter amended.  Eastern Washington University, Central Washington University, Western Washington University, and The Evergreen State College shall be credited with one-fourth of the total amount((:  PROVIDED, That Eastern Washington University, Central Washington University and Western Washington University shall each be credited with one-third of the total amount for so long as there remain unpaid and outstanding any bonds which are payable in whole or in part out of the moneys, interest or income described in this section)).