FINAL BILL REPORT

SHB 621

                                  C 3 L 87 E1

BYHouse Committee on Ways & Means (originally sponsored by Representatives Bristow, Silver, Locke, Holland, Grimm, L. Smith, Basich and P. King; by request of  Governor Gardner)

Authorizing state general obligation bonds for capital projects.

House Committe on Ways & Means

Senate Committee on Ways & Means

SYNOPSIS AS ENACTED

BACKGROUND:

Bond issues are required to fund appropriations for projects contained in the capital budget.  These projects are for various state agencies including higher education, parks, fisheries and common schools.

SUMMARY:

The state finance committee is authorized to issue $412 million in general obligation bonds to carry out the purposes of the capital budget.  This authorization includes $30 million which will be transferred to the common school construction account.

The authorization includes bonds for appropriations in the supplemental budget, $1.1 million, as well as $3.2 million in reimbursable bonds for Washington State University.  Finally, the measure consolidates into this authorization a small amount of current bonding authority, $2.0 million, for the fisheries capital account and the outdoor recreation account.

VOTES ON FINAL PASSAGE:

Regular Session

      House 64  34

First Special Session

      House 64  29

      Senate    34    12

EFFECTIVE:August 20, 1987