1070‑S.E AMH BALS ROBI 46 958 ADOPTED 5/23/95

ESHB 1070 ‑ H AMDS TO PROPOSED STRIKING AMENDMENT (H-3272.2/95)

By Representative Ballasiotes and others

     On page 141, after line 17 insert the following:

     "(10) Washington state convention and trade center:

     (a) Enter into a financing contract in the amount of $8,000,000, plus financing expenses and reserves pursuant to chapter 39.94 RCW, for refinancing the parking revenue note issued by the corporation to Industrial Indemnity Corporation and held by its successor, Resolution Credit Service Corporation; and

     (b) Enter into a financing contract in the amount of $111,700,000, plus financing expenses and reserves pursuant to chapter 39.94 RCW, for the construction of a $130,000,000 expansion of the Washington State Convention and Trade Center as authorized under chapter 386, Laws of 1995 in lieu of bonds described therein. The balance of the expansion project funds shall be provided from interest earnings and public or private funds."

EFFECT:  Authorizes the State Treasurer to issue Certificates of Participation for the Washington State Convention and Trade Center: $8 million to refinance the existing parking garage note and $111.7 million for construction of the expansion of the Center.