Upon determining that a timely transfer of all required funds to the paying agent for scheduled debt service payments on guaranteed bonds cannot be made, the county treasurer shall immediately provide notice to the state treasurer and to the paying agent pursuant to RCW 39.98.050. Such notice shall be made to the office of the state treasurer as follows:

(1) By telephone: 360-902-9000; and

(2) By facsimile: 360-902-9045 or by email: SchoolBondGuarantee@tre.wa.gov; and

(3) By first class mail: Attn: School Bond Guarantee Program, Office of the State Treasurer, Legislative Building, 2nd Floor, P.O. Box 40200, Olympia, Washington 98504-0200.