5925 AMH ORR H2533.1

5925 AMH ORR H2533.1

SB 5925 - H AMD 000407 WITHDRAWN 4-14-93

By Representatives Orr, Dellwo and Brown

On page 2, after line 17, insert the following:

"Sec. 3. RCW 36.100.030 and 1989 1st ex.s. c 8 s 3 are each amended to read as follows:

A public facilities district is authorized to acquire, construct, own, and operate sports and entertainment facilities with contiguous parking facilities and a regional science education facility located in any city within a public facilities district and which has a population of more than one hundred fifty thousand. A public facilities district may impose charges and fees for the use of its facilities, and may accept and expend or use gifts, grants, and donations. The taxes that are provided for in this chapter may only be imposed for such purposes.

Sec. 4. RCW 36.100.040 and 1989 1st ex.s. c 8 s 4 are each amended to read as follows:

A public facilities district may impose an excise tax on the sale of or charge made for the furnishing of lodging by a hotel, rooming house, tourist court, motel, or trailer camp, and the granting of any similar license to use real property, as distinguished from the renting or leasing of real property, except that no such tax may be levied on any premises having fewer than forty lodging units. The rate of the tax shall not exceed two percent and the proceeds of the tax shall only be used for the acquisition, design, and construction of sports and entertainment facilities. This excise tax shall not be imposed until the district has approved the proposal to acquire, design, and construct any of the public facilities authorized under RCW 36.100.030.

Sec. 5. RCW 36.100.060 and 1989 1st ex.s. c 8 s 5 are each amended to read as follows:

(1) To carry out the purpose of this chapter, a public facilities district may issue general obligation bonds, not to exceed an amount, together with any outstanding nonvoter approved general obligation indebtedness, equal to ((~~three-eighths~~)) three-fourths of one percent of the value of taxable property within the district, as the term "value of taxable property" is defined in RCW 39.36.015. A public facilities district additionally may issue general obligation bonds for capital purposes only, together with any outstanding general obligation indebtedness, not to exceed an amount equal to one and one-fourth percent of the value of the taxable property within the district, as the term "value of taxable property" is defined in RCW 39.36.015, when authorized by the voters of the public facilities district pursuant to Article VIII, section 6 of the state Constitution, and to provide for the retirement thereof by excess property tax levies as provided in this chapter.

(2) General obligation bonds may be issued with a maturity of up to thirty years, and shall be issued and sold in accordance with the provisions of chapter 39.46 RCW.

(3) The general obligation bonds may be payable from the operating revenues of the public facilities district in addition to the tax receipts of the district.

(4) The excise tax imposed pursuant to RCW 36.100.040 shall terminate upon final payment of all bonded indebtedness for ((~~the sports and entertainment facility~~)) all public facilities authorized under RCW 36.100.030."