reglab/housing_qa huggingface dataset:
WA Rev Code § 39.94.050 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.94 - Financing Contracts.|39.94.050 - Financing program to be self-supporting—Payment of program expenses.

RCW 39.94.050 Financing program to be self-supporting—Payment of program expenses.(1) It is the intent of the legislature that the financing program authorized by this chapter be self-supporting.(2) The state treasurer is authorized to levy fees and apply specified investment earnings from time to time in amounts not to exceed sums sufficient to pay program expenses including, but not limited to, costs of issuance, and to create reserves to assure timely payment of financing contracts. The investment earnings available for this purpose represent the earnings on payments received from state and other agencies.[ 1998 c 291 § 1.]NOTES:Application—1998 c 291: "Chapter 291, Laws of 1998 is applicable to an other agency, as defined in RCW 39.94.020, for the financing of equipment on September 1, 1998, and for the financing of real estate on July 1, 2000." [ 1998 c 291 § 6.]
WA Rev Code § 39.94.900 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.94 - Financing Contracts.|39.94.900 - Application.

RCW 39.94.900 Application.The provisions of this chapter shall apply to all financing contracts entered into following July 23, 1989.[ 1989 c 356 § 5.]
WA Rev Code § 39.96.010 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.010 - Findings and declaration.

RCW 39.96.010 Findings and declaration.The legislature finds and declares that the issuance by state and local governments of bonds and other obligations involves exposure to changes in interest rates; that a number of financial instruments are available to lower the net cost of these borrowings, or to reduce the exposure of state and local governments to changes in interest rates; that these reduced costs for state and local governments will benefit taxpayers and ratepayers; and that the legislature desires to provide state and local governments with express statutory authority to take advantage of these instruments. In recognition of the complexity of these financial instruments, the legislature desires that this authority be subject to certain limitations.[ 2004 c 108 § 1; 2000 c 184 § 1; 1995 c 192 § 1; 1993 c 273 § 1.]NOTES:Effective date—2000 c 184: "This act takes effect July 1, 2000." [ 2000 c 184 § 7.]Effective date—1995 c 192: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect July 1, 1995." [ 1995 c 192 § 3.]
WA Rev Code § 39.96.020 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.020 - Definitions.

RCW 39.96.020 Definitions.The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Financial advisor" means a financial services or financial advisory firm:(a) With recognized knowledge and experience in connection with the negotiation and execution of payment agreements;(b) That is acting solely as financial advisor to the governmental entity in connection with the execution of the payment agreement and the issuance or incurring of any related obligations, and not as a principal, placement agent, purchaser, underwriter, or other similar party, and that does not control, nor is it controlled by or under common control with, any such party;(c) That is compensated for its services in connection with the execution of payment agreements, either directly or indirectly, solely by the governmental entity; and(d) Whose compensation is not based on a percentage of the notional amount of the payment agreement or of the principal amount of any related obligations.(2) "Governmental entity" means state government or local government.(3) "Local government" means any city, county, city transportation authority, regional transit authority established under chapter 81.112 RCW, port district, public hospital district, public facilities district, or public utility district, or any joint operating agency formed under RCW 43.52.360, that has or will have outstanding obligations in an aggregate principal amount of at least one hundred million dollars as of the date a payment agreement is executed or is scheduled by its terms to commence or had at least one hundred million dollars in gross revenues during the preceding calendar year.(4) "Obligations" means bonds, notes, bond anticipation notes, commercial paper, or other obligations for borrowed money, or lease, installment purchase, or other similar financing agreements or certificates of participation in such agreements.(5) "Payment agreement" means a written agreement which provides for an exchange of payments based on interest rates, or for ceilings or floors on these payments, or an option on these payments, or any combination, entered into on either a current or forward basis.(6) "State government" means (a) the state of Washington, acting by and through its state finance committee, (b) the Washington health care facilities authority, (c) the Washington higher education facilities authority, (d) the Washington state housing finance commission, or (e) the state finance committee upon adoption of a resolution approving a payment agreement on behalf of any state institution of higher education as defined under RCW 28B.10.016: PROVIDED, That such approval shall not constitute the pledge of the full faith and credit of the state, but a pledge of only those funds specified in the approved agreement.[ 2005 c 154 § 1; 2004 c 108 § 2; 2003 c 47 § 1; 1993 c 273 § 2.]
WA Rev Code § 39.96.030 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.030 - Payment agreements authorized—Conditions.

RCW 39.96.030 Payment agreements authorized—Conditions.(1) Subject to subsections (2) and (3) of this section, any governmental entity may enter into a payment agreement in connection with, or incidental to, the issuance, incurring, or carrying of specific obligations, for the purpose of managing or reducing the governmental entity's exposure to fluctuations or levels of interest rates. No governmental entity may carry on a business of acting as a dealer in payment agreements. Nothing in this chapter shall be construed to provide governmental entities with separate or additional authority to invest funds or moneys relating to or held in connection with any obligations.(2) No governmental entity may enter into a payment agreement under this chapter unless it first:(a) Finds and determines, by ordinance or resolution, that the payment agreement, if fully performed by all parties thereto, will (i) reduce the amount or duration of its exposure to changes in interest rates; or (ii) result in a lower net cost of borrowing with respect to the related obligations;(b) Obtains, on or prior to the date of execution of the payment agreement, a written certification from a financial advisor that (i) the terms and conditions of the payment agreement and any ancillary agreements, including without limitation, the interest rate or rates and any other amounts payable thereunder, are commercially reasonable in light of then existing market conditions; and (ii) the finding and determination contained in the ordinance or resolution required by (a) of this subsection is reasonable.(3) Prior to selecting the other party to a payment agreement, a governmental entity shall solicit and give due consideration to proposals from at least two entities that meet the criteria set forth in RCW 39.96.040(2). Such solicitation and consideration shall be conducted in such manner as the governmental entity shall determine is reasonable.[ 2000 c 184 § 2; 1993 c 273 § 3.]NOTES:Effective date—2000 c 184: See note following RCW 39.96.010.
WA Rev Code § 39.96.040 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.040 - Terms and conditions.

RCW 39.96.040 Terms and conditions.(1) Subject to subsections (2), (3), and (4) of this section, payment agreements entered into by any governmental entity may include those payment, term, security, default, remedy, termination, and other terms and conditions, and may be with those parties, as the governmental entity deems reasonably necessary or desirable.(2) No governmental entity may enter into a payment agreement under this chapter unless:(a) The other party to the agreement has a rating from at least two nationally recognized credit rating agencies, as of the date of execution of the agreement, that is within the two highest long-term investment grade rating categories, without regard to subcategories, or the payment obligations of the party under the agreement are unconditionally guaranteed by an entity that then has the required ratings; or(b)(i) The other party to the agreement has a rating from at least two nationally recognized credit rating agencies, as of the date of execution of the agreement, that is within the three highest long-term investment grade rating categories, without regard to subcategories, or the payment obligations of the party under the agreement are unconditionally guaranteed by an entity that has the required ratings; and(ii) The payment obligations of the other party under the agreement are collateralized by direct obligations of, or obligations the principal and interest on which are guaranteed by, the United States of America, that (A) are deposited with the governmental entity or an agent of the governmental entity; and (B) maintain a market value of not less than one hundred two percent of the net market value of the payment agreement to the governmental entity, as such net market value may be defined and determined from time to time under the terms of the payment agreement.(3) No governmental entity may enter into a payment agreement with a party who qualifies under subsection (2)(a) of this section unless the payment agreement provides that, in the event the credit rating of the other party or its guarantor falls below the level required by subsection (2)(a) of this section, such party will comply with the collateralization requirements contained in subsection (2)(b) of this section.(4) No governmental entity may enter into a payment agreement unless:(a) The notional amount of the payment agreement does not exceed the principal amount of the obligations with respect to which the payment agreement is made; and(b) The term of the payment agreement does not exceed the final term of the obligations with respect to which the payment agreement is made.[ 1993 c 273 § 4.]
WA Rev Code § 39.96.050 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.050 - Payments—Credit enhancements.

RCW 39.96.050 Payments—Credit enhancements.(1) Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, any payments required to be made by the governmental entity under a payment agreement entered into in connection with the issuance, incurring, or carrying of those obligations may be made from money set aside or pledged to pay or secure the payment of those obligations or from any other legally available source.(2) Any governmental entity may enter into credit enhancement, liquidity, line of credit, or other similar agreements in connection with, or incidental to, the execution of a payment agreement. The credit enhancement, liquidity, line of credit, or other similar agreement may include those payment, term, security, default, remedy, termination, and other terms and conditions, and may be with those parties, as the governmental entity deems reasonably necessary or desirable.[ 1993 c 273 § 5.]
WA Rev Code § 39.96.060 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.060 - Calculations regarding payment of obligations—Status of payments.

RCW 39.96.060 Calculations regarding payment of obligations—Status of payments.(1) Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, if the governmental entity enters into a payment agreement with respect to those obligations, then it may elect to treat the amounts payable from time to time with respect to those obligations as the amounts payable after giving effect to the payment agreement for the purposes of calculating:(a) Rates and charges to be imposed by a revenue-producing enterprise if the revenues are pledged or used to pay those obligations;(b) Any taxes to be levied and collected to pay those obligation[s]; and(c) Payments or debt service on those obligations for any other purpose.(2) A payment agreement and any obligation of the governmental entity to make payments under the agreement in future fiscal years shall not constitute debt or indebtedness of the governmental entity for purposes of state constitutional and statutory debt limitation provisions if the obligation to make any payments is contingent upon the performance of the other party or parties to the agreement, and no moneys are paid to the governmental entity under the payment agreement that must be repaid in future fiscal years.[ 1993 c 273 § 6.]
WA Rev Code § 39.96.080 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.080 - Authority cumulative.

RCW 39.96.080 Authority cumulative.The powers conferred by this chapter are in addition to, and not in substitution for, the powers conferred by any existing law, and the limitations imposed by this chapter do not directly or indirectly modify, limit, or affect the powers conferred by any existing law.[ 1993 c 273 § 8.]
WA Rev Code § 39.96.900 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.900 - Liberal construction—1993 c 273.

RCW 39.96.900 Liberal construction—1993 c 273.This chapter shall be liberally construed to effect its purposes.[ 1993 c 273 § 9.]
WA Rev Code § 39.96.903 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.96 - Payment Agreements.|39.96.903 - Effective date—1993 c 273.

RCW 39.96.903 Effective date—1993 c 273.This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately [May 7, 1993].[ 1993 c 273 § 13.]
WA Rev Code § 39.98.010 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.98 - School District Credit Enhancement Program.|39.98.010 - Finding—School district debt obligation not removed.

RCW 39.98.010 Finding—School district debt obligation not removed.The legislature finds that implementation of the credit enhancement program provided for in this chapter can provide substantial savings to the taxpayers of the state of Washington with minimal cost or risk to the state government. The guaranty provided by pledging the credit of the state to the payment of voter-approved school district general obligation bonds will encourage lower interest rates, and therefore lower taxes, for such bonds than school districts alone can command, despite the excellent credit history of such obligations. Any such guarantee does not remove the debt obligation of the school district and is not state debt.[ 1999 c 273 § 1.]
WA Rev Code § 39.98.020 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.98 - School District Credit Enhancement Program.|39.98.020 - Definitions.

RCW 39.98.020 Definitions.The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Bond" means any voted general obligation bond issued by a school district, holding a certificate issued pursuant to this chapter for such a bond.(2) "Credit enhancement program" means the school district bond guaranty established by this chapter.(3) "General obligation bond" means any bond, note, warrant, certificate of indebtedness, or other obligation of a district that constitutes an indebtedness within the meaning of any applicable constitutional or statutory debt limitations.(4) "Paying agent" means the paying agent selected, from time to time, for a bond issue pursuant to state law.(5) "Refunding bond" means any general obligation bond issued by a district for the purpose of refunding its outstanding general obligation bonds.(6) "School district" or "district" means any school district existing now or later under the laws of the state.[ 1999 c 273 § 2.]
WA Rev Code § 39.98.030 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.98 - School District Credit Enhancement Program.|39.98.030 - Bonds guaranteed by full faith, credit, and taxing power of the state—Reference to chapter on face of bond conclusively establishes guaranty.

RCW 39.98.030 Bonds guaranteed by full faith, credit, and taxing power of the state—Reference to chapter on face of bond conclusively establishes guaranty.(1)(a) The full faith, credit, and taxing power of the state is pledged to guarantee full and timely payment of the principal of and interest on bonds as such payments become due. However, in the event of any acceleration of the due date of the principal by reason of mandatory redemption or acceleration resulting from default, the payments guaranteed shall be made in the amounts and at the times as payments of principal would have been due had there not been any acceleration.(b) This guaranty does not extend to the payment of any redemption premium.(c) Reference to this chapter by its title on the face of any bond conclusively establishes the guaranty provided to that bond under the provisions of this chapter.(2)(a) The state pledges to and agrees with the owners of any bonds that the state will not alter, impair, or limit the rights vested by the credit enhancement program with respect to the bonds until the bonds, together with applicable interest, are fully paid and discharged. However, this chapter does not preclude an alteration, impairment, or limitation if full provision is made by law for the payment of the bonds.(b) Each district may refer to this pledge and undertaking by the state in its bonds.(3) Only validly issued bonds issued after January 1, 2000, may be guaranteed under this chapter.[ 1999 c 273 § 3.]
WA Rev Code § 39.98.040 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.98 - School District Credit Enhancement Program.|39.98.040 - Certificate issued by state treasurer evidence of guaranty—Limitations on issuance of guaranteed bonds—Fees.

RCW 39.98.040 Certificate issued by state treasurer evidence of guaranty—Limitations on issuance of guaranteed bonds—Fees.(1)(a) Any district, by resolution of its board of directors, may request that the state treasurer issue a certificate evidencing the state's guaranty, under this chapter, of its bonds.(b) After reviewing the request, if the state treasurer determines that the district is eligible under rules adopted by the state finance committee, the state treasurer shall promptly issue the certificate as to specific bonds of the district and provide it to the requesting district.(c)(i) The district receiving the certificate and all other persons may rely on the certificate as evidencing the guaranty for bonds issued within one year from and after the date of the certificate, without making further inquiry during that year.(ii) The certificate of eligibility is valid for one year even if the state treasurer later determines that the school district is ineligible.(2) Any district that chooses to forego the benefits of the guaranty provided by this chapter for a particular issue of bonds may do so by not referring to this chapter on the face of its bonds.(3) Any district that has bonds, the principal of or interest on which has been paid, in whole or in part, by the state under this chapter, may not issue any additional bonds guaranteed by this chapter until:(a) All payment obligations of the district to the state under the credit enhancement program are satisfied; and(b) The state treasurer and the state superintendent of public instruction each certify in writing, to be kept on file by the state treasurer and the state superintendent of public instruction, that the district is fiscally solvent.(4) The state finance committee may establish by rule fees sufficient to cover the costs of administering this chapter.[ 1999 c 273 § 4.]
WA Rev Code § 39.98.050 (2021)
2021 Revised Code of Washington|Title 39 - Public Contracts and Indebtedness|Chapter 39.98 - School District Credit Enhancement Program.|39.98.050 - Debt service payments—Notifications upon nonpayment—Payments by state treasurer—Repayment.

RCW 39.98.050 Debt service payments—Notifications upon nonpayment—Payments by state treasurer—Repayment.(1)(a) The county treasurer for each district with outstanding, unpaid bonds shall transfer money sufficient for each scheduled debt service payment to its paying agent on or before any principal or interest payment date for the bonds.(b) A county treasurer who is unable to transfer a scheduled debt service payment to the paying agent on the transfer date shall immediately notify the paying agent and the state treasurer by:(i) Telephone;(ii) A writing sent by facsimile or electronic transmission; and(iii) A writing sent by first-class United States mail.(2) If sufficient funds are not transferred to the paying agent as required by subsection (1) of this section, the paying agent shall immediately notify the state treasurer of that failure by:(a) Telephone;(b) A writing sent by facsimile or electronic transmission; and(c) A writing sent by first-class United States mail.(3)(a) If sufficient money to pay the scheduled debt service payment have not been so transferred to the paying agent, the state treasurer shall, forthwith, transfer sufficient money to the paying agent to make the scheduled debt service payment.(b) The payment by the state treasurer:(i) Discharges the obligation of the issuing district to its bond owners for the payment, but does not retire any bond that has matured. The terms of that bond remain in effect until the state is repaid; and(ii) Transfers the rights represented by the general obligation of the district from the bond owners to the state.(c) The district shall repay to the state the money so transferred as provided in this chapter.[ 1999 c 273 § 5.]