(1) The proceeds from the sale of bonds authorized by:

(a) RCW 47.10.896(1)(a) shall be deposited in the Interstate 405 and state route number 167 express toll lanes account created in RCW 47.56.884; and

(b) RCW 47.10.896(1)(b) shall be deposited in the Puget Sound Gateway facility account created in RCW 47.56.897.

(2) The bond proceeds shall be available only for the purposes enumerated in section 2, chapter 421, Laws of 2019 [RCW 47.10.896], for the payment of bond anticipation notes or other interim financing, if any, capitalizing interest on the bonds, funding a debt service reserve fund, if any, and for the payment of bond issuance costs, including the costs of underwriting.

Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.