(1) The proceeds from the sale of bonds authorized by RCW
47.10.834 through
47.10.841 that are in support of possible loans as specified under RCW
47.10.835 shall be deposited into the motor vehicle fund. The proceeds shall be available only for the purposes of making loans to entities authorized to undertake projects selected under chapter
47.46 RCW as enumerated in RCW
47.10.835, including incidental costs incurred by the department in direct support of activities required under chapter
47.46 RCW, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
(2) The proceeds from the sale of bonds authorized by RCW
47.10.834 through
47.10.841 that are in support of all forms of cash contributions to projects selected under chapter
47.46 RCW, including incidental costs incurred by the department in direct support of activities required under chapter
47.46 RCW, except loans shall be deposited into the motor vehicle fund. The proceeds shall be available only for the purposes of making any contributions except loans to projects selected under chapter
47.46 RCW, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
(3) Up to two million two hundred thousand dollars of the proceeds from the sale of bonds authorized by RCW
47.10.834 through
47.10.841 may be expended on highway improvement projects under chapter
47.05 RCW and for the payment of bond issuance cost, including the cost of underwriting. Such proceeds shall be deposited into the motor vehicle fund.