reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.802 - Administration and amount of bond sales.

RCW 47.10.802
Administration and amount of bond sales.
Upon request being made by the transportation commission, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by RCW 47.10.801 in accordance with chapter 39.42 RCW. The amount of such bonds issued and sold under RCW 47.10.801 through 47.10.809 in any biennium may not exceed the amount of a specific appropriation therefor. Such bonds may be sold from time to time in such amounts as may be necessary for the orderly progress of the state highway improvements specified in RCW 47.10.801. The amount of bonds issued and sold under RCW 47.10.801(1)(a) in any biennium shall not, except as provided in that section, exceed the amount required to match federal-aid interstate funds available to the state of Washington. The bonds shall be sold in such manner, at such time or times, in such amounts, and at such price or prices as the state finance committee shall determine. The state finance committee may obtain insurance, letters of credit, or other credit facility devices with respect to the bonds and may authorize the execution and delivery of agreements, promissory notes, and other obligations for the purpose of insuring the payment or enhancing the marketability of the bonds. Promissory notes or other obligations issued under this section shall not constitute a debt or the contracting of indebtedness under any constitutional or statutory indebtedness limitation if their payment is conditioned upon the failure of the state to pay the principal of or interest on the bonds with respect to which the promissory notes or other obligations relate. The state finance committee may authorize the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purposes of retiring the bonds during the life of the project for which they were issued.
[ 2005 c 319 § 128; 1986 c 290 § 1; 1983 1st ex.s. c 53 § 23; 1982 c 19 § 2; 1981 c 316 § 2.]
NOTES:
Findings—Intent—Part headings—Effective dates—2005 c 319: See notes following RCW 43.17.020.
Severability—1983 1st ex.s. c 53: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1983 1st ex.s. c 53 § 36.]
Severability—1982 c 19: See note following RCW 47.10.801.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.803 - Bond proceeds—Deposit and use.

RCW 47.10.803
Bond proceeds—Deposit and use.
The proceeds from the sale of the bonds authorized by RCW 47.10.801(1) shall be deposited in the motor vehicle fund. All such proceeds shall be available only for the purposes enumerated in RCW 47.10.801, for the payment of bond anticipation notes, if any, and for the payment of the expense incurred in the drafting, printing, issuance, and sale of such bonds. The costs of obtaining insurance, letters of credit, or other credit enhancement devices with respect to the bonds shall be considered to be expenses incurred in the issuance and sale of the bonds.
[ 1999 c 94 § 14; 1986 c 290 § 2; 1985 c 433 § 8; 1981 c 316 § 3.]
NOTES:
Legislative finding—Effective dates—1999 c 94: See notes following RCW 43.84.092.
Nonseverability—1985 c 433: See note following RCW 43.160.074.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.804 - Statement of general obligation—Pledge of excise taxes.

RCW 47.10.804
Statement of general obligation—Pledge of excise taxes.
Bonds issued under RCW 47.10.801 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due. The principal of and interest on such bonds must be first payable in the manner provided in RCW 47.10.801 through 47.10.809 from the proceeds of the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW. Proceeds of such excise taxes are hereby pledged to the payment of any bonds and the interest thereon issued under RCW 47.10.801 through 47.10.809, and the legislature hereby agrees to continue to impose these excise taxes on motor vehicle and special fuels in amounts sufficient to pay, when due, the principal and interest on all bonds issued under RCW 47.10.801 through 47.10.809.
[ 2013 c 225 § 621; 1995 c 274 § 7; 1981 c 316 § 4.]
NOTES:
Effective date—2013 c 225: See note following RCW 82.38.010.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.805 - Designation of funds to repay bonds and interest.

RCW 47.10.805
Designation of funds to repay bonds and interest.
Any funds required to repay the bonds authorized by RCW 47.10.801 or the interest thereon when due shall be taken from that portion of the motor vehicle fund which results from the imposition of excise taxes on motor vehicle and special fuels and which is distributed to the state for expenditure pursuant to RCW 46.68.130 and shall never constitute a charge against any allocations of such funds to counties, cities, and towns unless the amount of the motor vehicle fund arising from the excise taxes on motor vehicle and special fuels and available for state highway purposes proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
[ 1981 c 316 § 5.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.806 - Repayment procedure—Bond retirement fund.

RCW 47.10.806
Repayment procedure—Bond retirement fund.
At least one year prior to the date any interest is due and payable on such bonds or before the maturity date of such bonds, the state finance committee shall estimate, subject to RCW 47.10.805, the percentage of the receipts in money of the motor vehicle fund resulting from collection of excise taxes on motor vehicle and special fuels, for each month of the year which shall be required to meet interest or bond payments when due and shall notify the treasurer of such estimated requirement. The state treasurer shall thereafter from time to time each month as such funds are paid into the motor vehicle fund, transfer such percentage of the monthly receipts from excise taxes on motor vehicle and special fuels of the motor vehicle fund to the highway bond retirement fund heretofore created in the state treasury, which funds shall be available solely for payment of the principal of and interest on the bonds when due. If in any month it shall appear that the estimated percentage of moneys so made is insufficient to meet the requirements for payment of the principal thereof or interest thereon, the treasurer shall notify the state finance committee forthwith, and the committee shall adjust its estimates so that all requirements for the interest on and principal of all bonds issued shall be fully met at all times.
[ 1981 c 316 § 6.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.807 - Sums in excess of retirement requirements—Use.

RCW 47.10.807
Sums in excess of retirement requirements—Use.
Whenever the percentage of the motor vehicle fund arising from excise taxes on motor vehicle and special fuels payable into the highway bond retirement fund shall prove more than is required for the payment of interest on bonds when due, or current retirement bonds, any excess may, in the discretion of the state finance committee, be available for the prior redemption of any bonds or remain available in the fund to reduce requirements upon the fuel excise tax portion of the motor vehicle fund at the next interest or bond payment period.
[ 1981 c 316 § 7.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.808 - Bonds legal investment for state funds.

RCW 47.10.808
Bonds legal investment for state funds.
The bonds authorized in RCW 47.10.801 through 47.10.809 constitute a legal investment for all state funds or for funds under state control and all funds of municipal corporations.
[ 1981 c 316 § 8.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.809 - Bonds equal charge against fuel tax revenues.

RCW 47.10.809
Bonds equal charge against fuel tax revenues.
Bonds issued under authority of RCW 47.10.801 through 47.10.809 and any subsequent general obligation bonds of the state of Washington which may be authorized and which pledge motor vehicle and special fuel excise taxes for the payment of principal and interest thereon shall be an equal charge against the revenues from such motor vehicle and special fuel excise taxes.
[ 1981 c 316 § 9.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.812 - Issuance and sale of general obligation bonds.

RCW 47.10.812
Issuance and sale of general obligation bonds.
In order to provide funds necessary for the location, design, right-of-way, and construction of state highway improvements that are identified as special category C improvements, there shall be issued and sold upon the request of the Washington state secretary of transportation a total of six hundred million dollars of general obligation bonds of the state of Washington.
[ 2007 c 519 § 1; 1999 sp.s. c 2 § 1; 1993 c 431 § 1.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.813 - Administration and amount of sale.

RCW 47.10.813
Administration and amount of sale.
Upon the request of the secretary of transportation, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by RCW 47.10.812 through 47.10.817 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.812 through 47.10.817 shall be sold in such manner, at such time or times, in such amounts, and at such price as the state finance committee shall determine. No such bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.
[ 2007 c 519 § 2; 1993 c 431 § 2.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.814 - Proceeds—Deposit and use.

RCW 47.10.814
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.812 through 47.10.817 shall be deposited in the special category C account in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.812, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 1993 c 431 § 3.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.815 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.815
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.812 through 47.10.817 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due. The principal and interest on the bonds must be first payable in the manner provided in RCW 47.10.812 through 47.10.817 from the proceeds of the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees. Proceeds of such excise taxes and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of RCW 47.10.812 through 47.10.817, and the legislature agrees to continue to impose these excise taxes on motor vehicle and special fuels and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of RCW 47.10.812 through 47.10.817.
[ 2022 c 103 § 23; 2013 c 225 § 622; 1995 c 274 § 8; 1993 c 431 § 4.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Effective date—2013 c 225: See note following RCW 82.38.010.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.816 - Designation of funds to repay bonds and interest.

RCW 47.10.816
Designation of funds to repay bonds and interest.
Both principal and interest on the bonds issued for the purposes of RCW 47.10.812 through 47.10.817 shall be payable from the highway bond retirement fund. The state finance committee may provide that a special account be created in the fund to facilitate payment of the principal and interest. The state finance committee shall, on or before June 30th of each year, certify to the state treasurer the amount required for principal and interest on the bonds in accordance with the bond proceedings. The state treasurer shall withdraw revenues from the special category C account in the motor vehicle fund and deposit in the highway bond retirement fund, or a special account in the fund, such amounts, and at such times, as are required by the bond proceedings.
Any funds required for bond retirement or interest on the bonds authorized by RCW 47.10.812 through 47.10.817 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on motor vehicle and special fuels and that is distributed to the special category C account in the motor vehicle fund and vehicle-related fees in the motor vehicle fund. Funds required shall never constitute a charge against any other allocations of vehicle-related fees and motor vehicle fuel and special fuel tax revenues to the state, counties, cities and towns unless the amount arising from vehicle-related fees and excise taxes on motor vehicle and special fuels distributed to the special category C account proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
Any payments for bond retirement or interest on the bonds taken from other revenues from the vehicle-related fees or motor vehicle fuel or special fuel taxes that are distributable to the state, counties, cities and towns, shall be repaid from the first revenues from the motor vehicle fuel or special fuel taxes distributed to the special category C account or vehicle-related fees not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 24; 1993 c 431 § 5.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.817 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.817
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.812 through 47.10.816 and this section and any other general obligation bonds of the state of Washington that have been or that may be authorized and that pledge motor vehicle and special fuels excise taxes and vehicle-related fees for the payment of principal and interest thereon shall be an equal charge against the revenues from such motor vehicle and special fuels excise taxes and vehicle-related fees.
[ 2022 c 103 § 25; 1993 c 431 § 6.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.819 - Issuance and sale of general obligation bonds.

RCW 47.10.819
Issuance and sale of general obligation bonds.
In order to provide funds necessary for the location, design, right-of-way, and construction of selected interstate and other highway improvements, there shall be issued and sold upon the request of the secretary of the department of transportation a total of one hundred million dollars of general obligation bonds of the state of Washington for the following purposes and specified sums:
(1) Not to exceed twenty-five million dollars to pay the state's and local governments' share of matching funds for the ten demonstration projects identified in the Intermodal Surface Transportation Efficiency Act of 1991.
(2) Not to exceed fifty million dollars to temporarily pay the regular federal share of construction in advance of federal-aid apportionments as authorized by this section.
(3) Not to exceed twenty-five million dollars for loans to local governments to provide the required matching funds to take advantage of available federal funds. These loans shall be on such terms and conditions as determined by the secretary of the department of transportation, but in no event may the loans be for a period of more than ten years. The interest rate on the loans authorized under this subsection shall be equal to the interest rate on the bonds sold for such purposes.
[ 2006 c 334 § 37; 1993 c 432 § 1.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.820 - Administration and amount of sale.

RCW 47.10.820
Administration and amount of sale.
Upon the request of the secretary of the department of transportation, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by RCW 47.10.819 through 47.10.824 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.819 through 47.10.824 shall be sold in such manner, at such time or times, in such amounts, and at such price as the state finance committee shall determine. No such bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.
[ 2006 c 334 § 38; 1993 c 432 § 2.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.821 - Proceeds—Deposit and use.

RCW 47.10.821
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.819 through 47.10.824 shall be deposited in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.819, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 1993 c 432 § 3.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.822 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.822
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.819 through 47.10.824 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due. The principal and interest on the bonds must be first payable in the manner provided in RCW 47.10.819 through 47.10.824 from the proceeds of the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees. Proceeds of such excise taxes and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of RCW 47.10.819 through 47.10.824, and the legislature agrees to continue to impose these excise taxes on motor vehicle and special fuels and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of RCW 47.10.819 through 47.10.824.
[ 2022 c 103 § 20; 2013 c 225 § 623; 1995 c 274 § 9; 1993 c 432 § 4.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Effective date—2013 c 225: See note following RCW 82.38.010.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.823 - Designation of funds to repay bonds and interest.

RCW 47.10.823
Designation of funds to repay bonds and interest.
Both principal and interest on the bonds issued for the purposes of RCW 47.10.819 through 47.10.824 shall be payable from the highway bond retirement fund. The state finance committee may provide that a special account be created in the fund to facilitate payment of the principal and interest. The state finance committee shall, on or before June 30th of each year, certify to the state treasurer the amount required for principal and interest on the bonds in accordance with the bond proceedings. The state treasurer shall withdraw revenues from the motor vehicle fund and deposit in the highway bond retirement fund, or a special account in the fund, such amounts, and at such times, as are required by the bond proceedings.
Any funds required for bond retirement or interest on the bonds authorized by RCW 47.10.819 through 47.10.824 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on motor vehicle and special fuels and vehicle-related fees and which is, or may be appropriated to the department of transportation for state highway purposes. Funds required shall never constitute a charge against any other allocations of motor vehicle fuel and special fuel tax revenues and vehicle-related fees to the state, counties, cities, and towns unless the amount arising from excise taxes on motor vehicle and special fuels and vehicle-related fees distributed to the state in the motor vehicle fund proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
Any payments for bond retirement or interest on the bonds taken from other revenues from the motor vehicle fuel or special fuel taxes and vehicle-related fees that are distributed to the state, counties, cities, and towns, shall be repaid from the first revenues from the motor vehicle fuel or special fuel taxes or vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 21; 1993 c 432 § 5.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.824 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.824
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.819 through 47.10.823 and this section and any other general obligation bonds of the state of Washington that have been or that may be authorized and that pledge motor vehicle and special fuels excise taxes and vehicle-related fees for the payment of principal and interest thereon shall be an equal charge against the revenues from such motor vehicle and special fuels excise taxes and vehicle-related fees.
[ 2022 c 103 § 22; 1993 c 432 § 6.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.834 - Issuance and sale of general obligation bonds.

RCW 47.10.834
Issuance and sale of general obligation bonds.
In order to provide funds necessary to implement the public-private transportation initiatives authorized by chapter 47.46 RCW, there shall be issued and sold upon the request of the secretary of the department of transportation a total of twenty-five million six hundred twenty-five thousand dollars of general obligation bonds of the state of Washington.
[ 2006 c 334 § 35; 1995 2nd sp.s. c 15 § 2; 1994 c 183 § 2.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
Severability—1995 2nd sp.s. c 15: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1995 2nd sp.s. c 15 § 9.]
Effective date—1995 2nd sp.s. c 15: "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 [June 16, 1995]." [ 1995 2nd sp.s. c 15 § 10.]
Finding—1994 c 183: "The legislature finds and declares:
Successful implementation of the public-private transportation initiatives program authorized in chapter 47.46 RCW may require the financial participation of the state in projects authorized in that chapter.
The participation may take the form of loans, loan guarantees, user charge guarantees, including incidental costs incurred by the department in direct support of activities required under chapter 47.46 RCW, or such other cash contribution arrangements as may improve the ability of the private entities sponsoring the projects to obtain financing.
It is in the best interests of the people of the state that state funding of possible financial participation in the projects authorized under chapter 47.46 RCW be in the form of long-term bonds. In order to repay expenditures incurred in the 1993-1995 biennium, up to two million two hundred thousand dollars of these bonds may be expended on highway improvement projects, under chapter 47.05 RCW." [ 1995 2nd sp.s. c 15 § 1; 1994 c 183 § 1.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.835 - Administration and amount of sale.

RCW 47.10.835
Administration and amount of sale.
Upon the request of the secretary of the department of transportation, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by RCW 47.10.834 through 47.10.841 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.834 through 47.10.841 shall be sold in such manner, at such time or times, in such amounts, and at such price as the state finance committee shall determine. No such bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds. In making such appropriation of the net proceeds of the sale of the bonds, the legislature shall specify what portion of the appropriation is provided for possible loans and what portion of the appropriation is provided for other forms of cash contributions to projects.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.
[ 2006 c 334 § 36; 1994 c 183 § 3.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.836 - Proceeds—Deposit and use.

RCW 47.10.836
Proceeds—Deposit and use.
(1) The proceeds from the sale of bonds authorized by RCW 47.10.834 through 47.10.841 that are in support of possible loans as specified under RCW 47.10.835 shall be deposited into the motor vehicle fund. The proceeds shall be available only for the purposes of making loans to entities authorized to undertake projects selected under chapter 47.46 RCW as enumerated in RCW 47.10.835, including incidental costs incurred by the department in direct support of activities required under chapter 47.46 RCW, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
(2) The proceeds from the sale of bonds authorized by RCW 47.10.834 through 47.10.841 that are in support of all forms of cash contributions to projects selected under chapter 47.46 RCW, including incidental costs incurred by the department in direct support of activities required under chapter 47.46 RCW, except loans shall be deposited into the motor vehicle fund. The proceeds shall be available only for the purposes of making any contributions except loans to projects selected under chapter 47.46 RCW, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
(3) Up to two million two hundred thousand dollars of the proceeds from the sale of bonds authorized by RCW 47.10.834 through 47.10.841 may be expended on highway improvement projects under chapter 47.05 RCW and for the payment of bond issuance cost, including the cost of underwriting. Such proceeds shall be deposited into the motor vehicle fund.
[ 1995 2nd sp.s. c 15 § 3; 1994 c 183 § 4.]
NOTES:
Severability—Effective date—1995 2nd sp.s. c 15: See notes following RCW 47.10.834.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.837 - Designation of funds to repay bonds and interest.

RCW 47.10.837
Designation of funds to repay bonds and interest.
Principal and interest payments made on loans authorized by chapter 47.46 RCW shall be deposited into the motor vehicle fund and shall be available for the payment of principal and interest on bonds authorized by RCW 47.10.834 through 47.10.841 and for such other purposes as may be specified by law.
[ 1995 2nd sp.s. c 15 § 4; 1994 c 183 § 5.]
NOTES:
Severability—Effective date—1995 2nd sp.s. c 15: See notes following RCW 47.10.834.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.838 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.838
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
(1) Bonds issued under the authority of RCW 47.10.834 through 47.10.841 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due.
(2) The principal and interest on the bonds issued for the purposes enumerated in RCW 47.10.836 must be first payable in the manner provided in RCW 47.10.834 through 47.10.841 from the proceeds of the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees. Proceeds of those excise taxes and vehicle-related fees are pledged to the payment of any bonds and the interest thereon issued under the authority of RCW 47.10.834 through 47.10.841, and the legislature agrees to continue to impose these excise taxes on motor vehicle and special fuels and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of RCW 47.10.834 through 47.10.841.
[ 2022 c 103 § 15; 2013 c 225 § 624; 1995 2nd sp.s. c 15 § 5; 1994 c 183 § 6.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Effective date—2013 c 225: See note following RCW 82.38.010.
Severability—Effective date—1995 2nd sp.s. c 15: See notes following RCW 47.10.834.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.839 - Repayment procedure—Bond retirement fund.

RCW 47.10.839
Repayment procedure—Bond retirement fund.
(1) Both principal and interest on the bonds issued for the purposes of RCW 47.10.834 through 47.10.841 are payable from the highway bond retirement fund.
(2) The state finance committee shall, on or before June 30th of each year certify to the state treasurer the amount required for principal and interest on the bonds issued for the purposes specified in RCW 47.10.836 in accordance with the bond proceedings. The state treasurer shall withdraw revenues from the motor vehicle fund and deposit into the highway bond retirement fund such amounts, and at such times, as are required by the bond proceedings.
(3) Any funds required for bond retirement or interest on the bonds authorized by RCW 47.10.834 through 47.10.841 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on motor vehicle and special fuels and vehicle-related fees which is, or may be appropriated to the department of transportation for state highway purposes. Funds required shall never constitute a charge against any other allocations of motor vehicle fuel and special fuel tax revenues and vehicle-related fees to the state, counties, cities, or towns unless the amount arising from excise taxes on motor vehicle and special fuels and vehicle-related fees distributed to the state in the motor vehicle fund proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
(4) Any payments for bond retirement or interest on the bonds taken from other revenues from the motor vehicle fuel and special fuel taxes and vehicle-related fees that are distributable to the state, counties, cities, or towns shall be repaid from the first revenues from the motor vehicle fuel or special fuel taxes or vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 16; 1995 2nd sp.s. c 15 § 6; 1994 c 183 § 7.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Severability—Effective date—1995 2nd sp.s. c 15: See notes following RCW 47.10.834.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.841 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.841
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.834 through 47.10.839 and this section and any other general obligation bonds of the state of Washington that have been or that may be authorized and that pledge motor vehicle and special fuels taxes and vehicle-related fees for the payment of principal and interest thereon are an equal charge against the revenues from the motor vehicle and special fuels excise taxes and vehicle-related fees.
[ 2022 c 103 § 17; 1995 2nd sp.s. c 15 § 7; 1994 c 183 § 9.]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Severability—Effective date—1995 2nd sp.s. c 15: See notes following RCW 47.10.834.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.843 - Bond issue authorized.

RCW 47.10.843
Bond issue authorized.
In order to provide funds necessary for the location, design, right-of-way, and construction of state and local highway improvements, there shall be issued and sold upon the request of the secretary of the department of transportation a maximum of one billion nine hundred million dollars of general obligation bonds of the state of Washington.
[ 2006 c 334 § 33; 1998 c 321 § 16 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.844 - Administration and amount of sale.

RCW 47.10.844
Administration and amount of sale.
Upon the request of the secretary of the department of transportation, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by RCW 47.10.843 through 47.10.848 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.843 through 47.10.848 shall be sold in such manner, at such time or times, in such amounts, and at such price as the state finance committee shall determine. No such bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.
[ 2006 c 334 § 34; 1998 c 321 § 17 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.845 - Proceeds—Deposit and use.

RCW 47.10.845
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.843 through 47.10.848 shall be deposited in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.843, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 1998 c 321 § 18 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.846 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.846
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.843 through 47.10.848 must distinctly state that they are a general obligation of the state of Washington, must pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and must contain an unconditional promise to pay such principal and interest as the same becomes due. The principal and interest on the bonds must be first payable in the manner provided in RCW 47.10.843 through 47.10.848 from the proceeds of the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees. Proceeds of such excise taxes and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of RCW 47.10.843 through 47.10.848, and the legislature agrees to continue to impose these excise taxes on motor vehicle and special fuels and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of RCW 47.10.843 through 47.10.848.
[ 2022 c 103 § 12; 2013 c 225 § 625; 1998 c 321 § 19 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Effective date—2013 c 225: See note following RCW 82.38.010.
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.847 - Repayment procedure—Bond retirement fund.

RCW 47.10.847
Repayment procedure—Bond retirement fund.
Both principal and interest on the bonds issued for the purposes of RCW 47.10.843 through 47.10.848 shall be payable from the highway bond retirement fund. The state finance committee may provide that a special account be created in the fund to facilitate payment of the principal and interest. The state finance committee shall, on or before June 30th of each year, certify to the state treasurer the amount required for principal and interest on the bonds in accordance with the bond proceedings. The state treasurer shall withdraw revenues from the motor vehicle fund and deposit in the highway bond retirement fund, or a special account in the fund, such amounts, and at such times, as are required by the bond proceedings.
Any funds required for bond retirement or interest on the bonds authorized by RCW 47.10.843 through 47.10.848 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on motor vehicle and special fuels and vehicle-related fees and which is, or may be, appropriated to the department of transportation for state highway purposes. Funds required shall never constitute a charge against any other allocations of motor vehicle fuel and special fuel tax revenues and vehicle-related fees to the state, counties, cities and towns unless the amount arising from excise taxes on motor vehicle and special fuels and vehicle-related fees distributed to the state in the motor vehicle fund proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
Any payments for bond retirement or interest on the bonds taken from other revenues from the motor vehicle fuel or special fuel taxes and vehicle-related fees that are distributable to the state, counties, cities, and towns, shall be repaid from the first revenues from the motor vehicle fuel or special fuel taxes or vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 13; 1998 c 321 § 20 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.848 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.848
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.843 through 47.10.847 and this section and any other general obligation bonds of the state of Washington that have been or that may be authorized and that pledge motor vehicle and special fuels excise taxes and vehicle-related fees for the payment of principal and interest thereon shall be an equal charge against the revenues from such motor vehicle and special fuels excise taxes and vehicle-related fees.
[ 2022 c 103 § 14; 1998 c 321 § 21 (Referendum Bill No. 49, approved November 3, 1998).]
NOTES:
Intent—2022 c 103: See note following RCW 47.10.908.
Applicability—2022 c 103: See note following RCW 47.10.883.
Purpose—Severability—1998 c 321: See notes following RCW 82.14.045.
Effective dates—Application—1998 c 321 §§ 1-21, 44, and 45: See note following RCW 82.14.045.
Referral to electorate—1998 c 321 §§ 1-21 and 44-46: See note following RCW 82.14.045.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.861 - Bond issue authorized.

RCW 47.10.861
Bond issue authorized.
In order to provide funds necessary for the location, design, right-of-way, and construction of selected projects or improvements that are identified as transportation 2003 projects or improvements in the omnibus transportation budget, there shall be issued and sold upon the request of the secretary of the department of transportation a total of three billion two hundred million dollars of general obligation bonds of the state of Washington.
[ 2007 c 519 § 3; 2006 c 334 § 31; 2003 c 147 § 1.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
Effective date—2003 c 147: "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 takes effect July 1, 2003." [ 2003 c 147 § 16.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.862 - Administration and amount of sale.

RCW 47.10.862
Administration and amount of sale.
Upon the request of the secretary of the department of transportation, as appropriate, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds in RCW 47.10.861 through 47.10.866 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.861 through 47.10.866 shall be sold in the manner, at time or times, in amounts, and at the price as the state finance committee shall determine. No bonds may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
The state finance committee shall consider the issuance of short-term obligations in lieu of long-term obligations for the purposes of more favorable interest rates, lower total interest costs, and increased marketability and for the purpose of retiring the bonds during the life of the project for which they were issued.
[ 2006 c 334 § 32; 2003 c 147 § 2.]
NOTES:
Effective date—2006 c 334: See note following RCW 47.01.051.
Effective date—2003 c 147: See note following RCW 47.10.861.