BILL REQ. #:  H-4500.1 

Read first time 01/21/10.   Referred to Committee on Education.

     AN ACT Relating to nonvoter-approved school district debt; and amending RCW 28A.530.080.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 28A.530.080 and 1999 c 314 s 2 are each amended to read as follows:
     (1) In addition to the authority granted under RCW 28A.530.010, a school district may contract indebtedness for any purpose specified in RCW 28A.530.010 (2), (4), and (5) or for the purpose of purchasing any real or personal property, or property rights, in connection with the exercise of any powers or duties which it is now or hereafter authorized to exercise, and issue bonds, notes, or other evidences of indebtedness therefor without a vote of the qualified electors of the district, subject to the limitations on indebtedness set forth in RCW 39.36.020(3).
     (2) Before contracting indebtedness without a vote of the qualified electors of the district, a school district shall publish notice of intent to contract such indebtedness and shall hold a public meeting on the proposal. The notice shall designate: The date, time, and place of the meeting; the purpose and amount of the indebtedness; the type, terms, and conditions of indebtedness; and the means identified for repayment. The notice shall also state that any person may appear and be heard on the issue of contracting such indebtedness. The notice shall be published at least once each week for two consecutive weeks in a newspaper of general circulation in the district, or if there is none, in a newspaper of general circulation in the county or counties in which such district is a part. The last notice shall be published no later than seven days immediately before the meeting.
     (3) Such bonds, notes, or other evidences of indebtedness shall be issued and sold in accordance with chapter 39.46 RCW, and the proceeds thereof shall be deposited in the capital projects fund, the transportation vehicle fund, or the general fund, as applicable.