1662‑S.E AMS FRAN 000831

ESHB 1662 - S Amd to Ted Comm Amd (S2714.1)

    BySenators Franklin and Quigley

                                                 WITHDRAWN 4/16/93

    On page 5, after line 34, insert the following:

    "Sec. 5.  RCW 43.160.070 and 1990 1st ex.s. c 16 s 802 are each amended to read as follows:

    (1) Public facilities loans and grants, when authorized by the board, are subject to the following conditions:

    (a) The moneys in the public facilities construction loan revolving fund shall be used solely to fulfill commitments arising from loans or grants authorized in this chapter or, during the 1989-91 fiscal biennium, for economic development purposes as appropriated by the legislature.  The total outstanding amount which the board shall dispense at any time pursuant to this section shall not exceed the moneys available from the fund.  The total amount of outstanding loans and grants in Pierce, King, and Snohomish counties shall never exceed sixty percent of the total amount of outstanding loans and grants disbursed by the board.

    (b) Financial assistance through the loans or grants may be used directly or indirectly for any facility for public purposes, including, but not limited to, sewer or other waste disposal facilities, arterials, bridges, access roads, port facilities, or water distribution and purification facilities.

    (c) On contracts made for public facilities loans the board shall determine the interest rate which loans shall bear.  The interest rate shall not exceed ten percent per annum.  The board may provide reasonable terms and conditions for repayment for loans as the board determines.  The loans shall not exceed twenty years in duration.

    (d) Repayments of loans made under the contracts for public facilities construction loans shall be paid into the public facilities construction loan revolving fund.

(e) Any public facility financed by a loan or grant, including any facility located on federal or tribal lands, must meet all federal, state and local environmental laws and regulations, notwithstanding any otherwise applicable exclusion or immunity for federal or tribal lands.

    (2) When every feasible effort has been made to provide loans and loans are not possible, the board may provide grants upon finding that unique circumstances exist."

    Renumber the remaining sections consecutively and correct internal references accordingly.

ESHB 1662 - S Amd to Ted Comm Amd (S2714.1)

    BySenators Franklin and Quigley

    On page 14, line 6 of the title amendment, after "43.160.060," insert "43.160.070,"

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