H-3662              _______________________________________________

                                                   HOUSE BILL NO. 2444

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State of Washington                               51st Legislature                              1990 Regular Session

By Representatives Kirby, Nealey, Haugen, Smith, Ballard, Rayburn and Jones

Read first time 1/12/90 and referred to Committee on Local Government.

AN ACT Relating to irrigation districts; and adding a new section to chapter 87.03 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 87.03 RCW to read as follows:

          For the purpose of issuing bonds only, the governing body of any irrigation district may authorize the establishment of consolidated local improvement districts.  The local improvements within such consolidated districts need not be adjoining, vicinal, or neighboring.  If the governing body orders the creation of such consolidated local improvement districts, the moneys received from the installment payment of the principal of and interest on assessments levied within original local assessment districts shall be deposited in a consolidated local improvement district bond redemption fund to be used to redeem outstanding consolidated local improvement district bonds.