reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.050 - Anticipation notes—Issued, when—Payment of principal and interest.

RCW 39.42.050
Anticipation notes—Issued, when—Payment of principal and interest.
When the state finance committee has decided to issue such bonds or a portion thereof, it may, pending the issuing of such bonds, issue, in the name of the state, temporary notes in anticipation of the money to be derived from the sale of such bonds, which notes shall be designated as "anticipation notes". If, prior to the issuance of the bonds, it becomes necessary to redeem outstanding notes, additional bond anticipation notes may be issued to redeem the outstanding notes. Such portion of the proceeds of the sale of such bonds as may be required for such purpose shall be applied to the payment of the principal of such anticipation notes which have been issued. The interest on anticipation notes shall be paid from the revenue source and with the same priority of payment specified in the respective bond acts for payment of principal of and interest on the bonds against which anticipation notes are sold. The procedure for paying the interest on the notes, including the transfer of necessary funds for that purpose, shall be the same as prescribed for the bonds.
If the bonds shall constitute general obligations of the state and pledge the full faith and credit of the state to the payment thereof, then the notes issued in anticipation thereof shall state that they are a general obligation of the state of Washington, shall pledge the full faith and credit of the state to the payment of the principal thereof and the interest thereon, and shall contain an unconditional promise to pay the principal and interest as the same shall become due. The owner and holder of any of the notes or the trustee for the owner and holder of any of the notes may, by a mandamus or other appropriate proceeding, require the transfer and payment of funds as directed in this section.
[ 1981 c 29 § 1; 1971 ex.s. c 184 § 5.]
NOTES:
Application—1981 c 29: "This act shall apply to all outstanding bond anticipation notes of the state, and interest on the notes shall be paid as provided in RCW 39.42.050: PROVIDED, That in the event such interest is not paid as provided in RCW 39.42.050 it shall be paid from such source or sources as are specified in such notes." [ 1981 c 29 § 2.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.080 - Obligations allowable under debt limitation.

RCW 39.42.080
Obligations allowable under debt limitation.
The foregoing limitation on the aggregate amount of indebtedness of the state shall not prevent:
(1) The issuance of obligations to refund or replace any such indebtedness existing at any time in an amount not exceeding 1.05 times the amount which, taking into account earnings from the investment of the proceeds of the issue, is required to pay the principal thereof, interest thereon, and any premium payable with respect thereto, and the costs incurred in accomplishing such refunding, as provided in chapter 39.53 RCW, as now or hereafter amended: PROVIDED, That any proceeds of the refunding, bonds in excess of those acquired to accomplish such refunding or any obligations acquired with such excess proceeds, shall be applied exclusively for the payment of principal, interest, or call premiums with respect to such refunding obligations;
(2) The issuance of obligations in anticipation of revenues to be received by the state during a period of twelve calendar months next following their issuance;
(3) The issuance of obligations payable solely from revenues of particular public improvements;
(4) A pledge of the full faith, credit, and taxing power of the state to guarantee the payment of any obligation payable from any of revenues received from any of the following sources:
(a) the fees collected by the state as license fees for motor vehicles;
(b) excise taxes collected by the state on the sale, distribution, or use of motor vehicle fuel; and
(c) interest on the permanent common school fund:
PROVIDED, That the legislature shall, at all times, provide sufficient revenues from such sources to pay the principal and interest due on all obligations for which said source of revenue is pledged.
[ 1974 ex.s. c 111 § 1; 1971 ex.s. c 184 § 8.]
NOTES:
Severability—1974 ex.s. c 111: "If any provision of this 1974 amendatory 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." [ 1974 ex.s. c 111 § 6.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.090 - Certificates of indebtedness—Issued, when—Retirement.

RCW 39.42.090
Certificates of indebtedness—Issued, when—Retirement.
The state finance committee may issue certificates of indebtedness in such sum or sums that may be necessary to meet temporary deficiencies of the treasury. Such certificates may be issued only to provide for the appropriations already made by the legislature and such certificates must be retired and the debt discharged other than by refunding within twelve months after the date of issuance.
For the purposes of this section, the state treasury shall include all statutorily established funds and accounts except for any of the permanent funds of the state treasury.
[ 2007 c 215 § 3; 1985 c 57 § 21; 1971 ex.s. c 184 § 9.]
NOTES:
Finding—Intent—Contingent effective date—2007 c 215: See notes following RCW 39.42.070.
Effective date—1985 c 57: See note following RCW 18.04.105.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.100 - Evidences of indebtedness—Defects not to affect validity—Copy of resolution authorizing issuance filed—Action to contest before delivery.

RCW 39.42.100
Evidences of indebtedness—Defects not to affect validity—Copy of resolution authorizing issuance filed—Action to contest before delivery.
Bonds, notes, or other obligations issued and sold by the state of Washington pursuant to and in conformity with this chapter shall not be invalid for any irregularity or defect in the proceedings of the issuance or sale thereof, except as provided in this paragraph, and shall be incontestable in the hands of a bona fide purchaser or holder thereof. Whenever the state finance committee determines to issue bonds, notes or other evidences of indebtedness, it shall file with the treasurer a certified copy of the resolution authorizing their issuance at least thirty days prior to delivery to the purchaser of such bonds, notes, of other evidences of indebtedness. At any time prior to delivery, any person in interest shall have the right to institute an appropriate action or proceeding to contest the validity of the authorized indebtedness, the pledge of revenues for the payment of principal and interest on such indebtedness, the validity of the collection and disposition of revenue necessary to pay the principal and interest on such indebtedness, the expenditure of the proceeds derived from the sale of the evidences of indebtedness for the purposes specified by law, and the validity of all other provisions and proceedings in connection with the authorization and issuance of the evidences of indebtedness. If such action or proceeding shall not have been instituted prior to delivery, then the validity of the evidences of indebtedness shall be conclusively presumed and no court shall have authority to inquire into such matters.
[ 1971 ex.s. c 184 § 10.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.110 - Evidences of indebtedness—As negotiable instruments, legal investments, and security for deposits.

RCW 39.42.110
Evidences of indebtedness—As negotiable instruments, legal investments, and security for deposits.
All evidences of indebtedness issued under the provisions of this chapter shall be fully negotiable instruments and shall be legal investment for all state funds or for funds under state control and all funds of municipal corporations, and shall be legal security for all state, county and municipal deposits.
[ 1971 ex.s. c 184 § 11.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.120 - Excess earnings account—Payments to United States treasury.

RCW 39.42.120
Excess earnings account—Payments to United States treasury.
The excess earnings account is created in the state treasury. From the revenue funds from which principal and interest payments on bonds are provided, the state treasurer shall periodically transfer to the excess earnings account such amounts as are owed to the federal government under section 148 of the federal internal revenue code. Pursuant to legislative appropriation from the excess earnings account, the state treasurer shall periodically remit to the United States treasury any amounts owed to the federal government under section 148 of the federal internal revenue code.
[ 1988 c 92 § 1.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.130 - Aggregate state debt not to exceed debt limitation—State finance committee duties.

RCW 39.42.130
Aggregate state debt not to exceed debt limitation—State finance committee duties.
(1) The state shall not contract any bonds, notes, or other evidences of indebtedness for borrowed money that would cause the aggregate state debt to exceed the debt limitation, as specified in Article VIII, section 1(b) of the state Constitution.
(2) It shall be the duty of the state finance committee to compute annually the amount required to pay principal of and interest on outstanding debt.
(3) To the extent necessary because of the state constitutional debt limitation, priorities with respect to the issuance or guaranteeing of bonds, notes, or other evidences of indebtedness by the state shall be determined by the state finance committee.
[ 2009 c 500 § 2.]
NOTES:
Effective date—2009 c 500: See note following RCW 39.42.070.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.140 - Working debt limit.

RCW 39.42.140
Working debt limit.
The state finance committee must recommend a working debt limit for purposes of budget development for various purpose capital bond appropriations. Nothing in this section shall in any manner affect the validity of indebtedness incurred in compliance with the provisions of Article VIII, section 1 of the state Constitution. The working debt limit must be updated periodically following forecasts of the economic and revenue forecast council. The governor and legislature must develop capital bond budgets within the most recent recommended working debt limit. The working debt limit must be lower than the state constitutional debt limit in order to reserve capacity under the constitutional limit for emergencies and economic uncertainties. In order to begin to accomplish the objectives of stabilizing debt capacity and reducing the debt service burden on the operating budget, the state finance committee must recommend working debt limits of eight and one-half percent from July 1, 2015, to and including June 30, 2017; eight and one-quarter percent from July 1, 2017, to and including June 30, 2019; eight percent from July 1, 2019, to and including June 30, 2021; seven and three-quarters percent from July 1, 2021, and thereafter. The state finance committee may recommend modified working debt limits in response to extraordinary economic conditions. The state finance committee is authorized to reduce or delay the issuance of bonds if an issuance would result in exceeding the recommended working debt limit.
[ 2011 1st sp.s. c 46 § 3.]
NOTES:
Intent—2011 1st sp.s. c 46: "The legislature intends to examine the various kinds of debt incurred by Washington state and the limitations that control the amount and use of debt. To assist in this examination, the legislature seeks the assistance and recommendations of a commission on state debt." [ 2011 1st sp.s. c 46 § 1.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.150 - Liquefied natural gas used as marine vessel transportation fuel—Excluded from general state revenues.

RCW 39.42.150
Liquefied natural gas used as marine vessel transportation fuel—Excluded from general state revenues. (Expires July 1, 2028.)
(1) The purpose of eliminating a portion of the sales tax exemption under RCW 82.08.0261 for liquefied natural gas sold for use as a marine vessel transportation fuel is to support the Washington state ferries and other state highway system needs. For this reason, general state revenues transferred under RCW 82.32.860 to the motor vehicle fund are excluded from the calculation of general state revenues for purposes of Article VIII, section 1 of the state Constitution and RCW 39.42.130 and 39.42.140.
(2) This section expires July 1, 2028.
[ 2014 c 216 § 408.]
NOTES:
Effective date—Findings—Tax preference performance statement—2014 c 216: See notes following RCW 82.38.030.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.42 - State Bonds, Notes, and Other Evidences of Indebtedness. › 39.42.900 - Effective date—1971 ex.s. c 184.

RCW 39.42.900
Effective date—1971 ex.s. c 184.
This act shall become effective coincident with the effective date of the constitutional amendment to Article VIII, section 1 and to Article VIII, section 3 of the Washington state Constitution as presented for a vote of the people by HJR 52, 1971 regular session. Unless such constitutional amendment shall be approved by the people at the next general election, this chapter shall be null and void.
[ 1971 ex.s. c 184 § 12.]
NOTES:
Reviser's note: House Joint Resolution No. 52 was approved by the voters at the November 1972 general election.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.070 - Life of bonds.

RCW 39.44.070
Life of bonds.
Notwithstanding the provisions of any charter to the contrary, bonds issued under *RCW 39.44.010 through 39.44.080 may be issued to run for a period up to forty years from the date of the issue and shall, as near as practicable, be issued for a period which shall not exceed the life of the improvement to be acquired by the use of the bonds.
[ 1967 c 107 § 5; 1923 c 151 § 5; RRS § 5583-5.]
NOTES:
*Reviser's note: RCW 39.44.010, 39.44.011, 39.44.020, 39.44.030, 39.44.060, and 39.44.080 were repealed by 1984 c 186 § 70.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.100 - Facsimile signatures on bonds and coupons.

RCW 39.44.100
Facsimile signatures on bonds and coupons.
On all bonds hereafter issued by the state or any agency thereof or by any county, city, town, municipal corporation, quasi municipal corporation, junior taxing district, school district or other political subdivision of the state, the printed, engraved or lithographed facsimile signatures of the officers required by law to sign the bonds or any interest coupons thereon shall be sufficient signature on such bonds or coupons: PROVIDED, That such facsimile signatures shall not be used on the bonds of issues of less than one hundred thousand dollars par value and may always be used on interest coupons.
Whenever such facsimile signature reproduction of the signature of any officer is used in place of the personal signature of such officer, the issuing authority shall specify in a written order or requisition to the printer, engraver, or lithographer, the number of bonds or coupons upon which such facsimile signature is to be printed, engraved, or lithographed, and the manner of numbering the bonds or coupons upon which such signature shall be placed. Within ninety days after the completion of the printing, engraving, or lithographing of such bonds or coupons, the plate or plates used for the purpose of affixing the facsimile signature shall be destroyed and it shall be the duty of the issuing authority, within ninety days after receipt of the completed bonds or coupons, to ascertain that such plate or plates have been destroyed.
[ 1983 c 167 § 107; 1961 c 141 § 3; 1955 c 375 § 1; 1941 c 52 § 1; Rem. Supp. 1941 § 5583-1a.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
Uniform facsimile signature of public officials act: Chapter 39.62 RCW.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.101 - Facsimile signatures on bonds and coupons—Fraud—Destruction of plates—Penalty.

RCW 39.44.101
Facsimile signatures on bonds and coupons—Fraud—Destruction of plates—Penalty.
Every printer, engraver, or lithographer, who with the intent to defraud, prints, engraves, or lithographs a facsimile signature upon any bond or coupon without written order of the issuing authority, or fails to destroy such plate or plates containing the facsimile signature upon direction of such issuing authority, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2003 c 53 § 212; 1955 c 375 § 2.]
NOTES:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
Fraud, forgery: Chapter 9A.60 RCW.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.102 - Facsimile signatures on bonds and coupons—Statements and signatures required on registered bonds.

RCW 39.44.102
Facsimile signatures on bonds and coupons—Statements and signatures required on registered bonds.
Where any bond so issued requires registration by the county treasurer, that bond shall bear a statement on the back thereof showing the name of the person to whom sold, date of issue, the number and series of the bond, and shall be signed by the county treasurer in his or her own name or by a deputy county treasurer in his or her own name.
[ 2011 c 336 § 807; 1955 c 375 § 3.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.110 - Registration—Payment—Assignment.

RCW 39.44.110
Registration—Payment—Assignment.
Upon the presentation at the office of the officer or agent hereinafter provided for, any bond which is bearer in form that has heretofore been or may hereafter be issued by any county, city, town, port, school district, or other municipal or quasi municipal corporation in this state, may, if so provided in the proceedings authorizing the issuance of the same, be registered as to principal in the name of the owner upon the books of such municipality to be kept in said office, such registration to be noted on the reverse of the bond by such officer or agent. The principal of any bond so registered shall be payable only to the payee, his or her legal representative, successors or assigns, and such bond shall be transferable to another registered holder or back to bearer only upon presentation to such officer or agent, with a written assignment duly acknowledged or proved. The name of the assignee shall be written upon any bond so transferred and in the books so kept in the office of such officer or agent.
[ 2011 c 336 § 808; 1983 c 167 § 108; 1961 c 141 § 4; 1915 c 91 § 1; RRS § 5494.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.120 - Payment of coupon interest.

RCW 39.44.120
Payment of coupon interest.
If so provided in the proceedings authorizing the issuance of any such bonds, upon the registration thereof as to principal, or at any time thereafter, the coupons thereto attached, evidencing all interest to be paid thereon to the date of maturity, may be surrendered to the officer or agent hereinafter provided and the bonds shall also become registered as to interest. Such coupons shall be canceled by such officer or agent, who shall sign a statement endorsed upon such bond of the cancellation of all unmatured coupons and the registration of such bond. Thereafter the interest evidenced by such canceled coupons shall be paid at the times provided therein to the registered owner of such bond in lawful money of the United States of America mailed to his or her address.
[ 2011 c 336 § 809; 1983 c 167 § 109; 1961 c 141 § 5; 1915 c 91 § 2; RRS § 5495.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.130 - Treasurers as registration officers—Fiscal agent.

RCW 39.44.130
Treasurers as registration officers—Fiscal agent.
(1) The duties prescribed in this chapter as to the registration of bonds of any city or town shall be performed by the treasurer thereof, and as to those of any county, port or school district by the county treasurer of the county in which such port or school district lies; but any treasurer as defined in RCW 39.46.020 may designate its legally designated fiscal agency or agencies for the performance of such duties, after making arrangements with such fiscal agency therefor, which arrangements may include provision for the payment by the bond owner of a fee for each registration.
(2) The county treasurer as ex officio treasurer of a special district shall act as fiscal agent or may appoint the fiscal agent to be used by the county.
[ 1995 c 38 § 5; 1994 c 301 § 9; 1985 c 84 § 2; 1983 c 167 § 110; 1971 ex.s. c 79 § 1; 1915 c 91 § 3; RRS § 5496.]
NOTES:
Acts of municipal officers ratified and confirmed—1995 c 38: See note following RCW 3.02.045.
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
Fiscal agencies: Chapter 43.80 RCW.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.140 - Revenue bonds—Funds for reserve purposes may be included in issue amount.

RCW 39.44.140
Revenue bonds—Funds for reserve purposes may be included in issue amount.
Any county, city, town, political subdivision, or other municipal or quasi municipal corporation authorized to issue revenue bonds may include in the amount of any such issue funds for the purpose of establishing, maintaining or increasing reserves to:
(1) Secure the payment of the principal of and interest on such revenue bonds; or
(2) Provide for replacements or renewals of or repairs or betterments to revenue producing facilities; or
(3) Provide for contingencies, including, but not limited to, loss of revenue caused by such contingencies.
The authority granted pursuant to this section is additional and supplemental to any existing authority to issue revenue bonds and nothing in this section shall prevent the issuance of such bonds pursuant to any other law: PROVIDED, That no such bond issue may include an amount in excess of fifteen percent thereof for the purpose of establishing, maintaining or increasing reserves as enumerated above.
[ 1983 c 167 § 111; 1977 ex.s. c 229 § 1.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.200 - State and local government bond information—Definitions.

RCW 39.44.200
State and local government bond information—Definitions.
Unless the context clearly requires otherwise, the definitions in this section apply throughout RCW 39.44.200 through 39.44.240.
(1) "Bond" means "bond" as defined in RCW 39.46.020, but also includes any other indebtedness that may be issued by any local government to fund private activities or purposes where the indebtedness is of a nonrecourse nature payable from private sources, including debt issued under chapter 39.50 RCW.
(2) "Local government" means "local government" as defined in RCW 39.46.020.
(3) "Type of bond" includes: (a) General obligation bonds, including councilmanic and voter-approved bonds; (b) revenue bonds; (c) local improvement district bonds; (d) special assessment bonds such as those issued by irrigation districts and diking districts; and (e) other classes of bonds.
(4) "State" means "state" as defined in RCW 39.46.020 but also includes any commissions or other entities of the state.
[ 2001 c 299 § 14; 1990 c 220 § 1; 1989 c 225 § 1; 1987 c 297 § 12; 1985 c 130 § 5.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.210 - State and local government bond information—Submittal—Contents—Annual report.

RCW 39.44.210
State and local government bond information—Submittal—Contents—Annual report.
For each state or local government bond issued, the underwriter of the issue shall supply the department of commerce with information on the bond issue within twenty days of its issuance. In cases where the issuer of the bond makes a direct or private sale to a purchaser without benefit of an underwriter, the issuer shall supply the required information. The bond issue information shall be provided on a form prescribed by the department of commerce and shall include but is not limited to: (1) The par value of the bond issue; (2) the effective interest rates; (3) a schedule of maturities; (4) the purposes of the bond issue; (5) cost of issuance information; and (6) the type of bonds that are issued. A copy of the bond covenants shall be supplied with this information.
For each state or local government bond issued, the issuer's bond counsel promptly shall provide to the underwriter or to the department of commerce information on the amount of any fees charged for services rendered with regard to the bond issue.
Each local government that issues any type of bond shall make a report annually to the department of commerce that includes a summary of all the outstanding bonds of the local government as of the first day of January in that year. Such report shall distinguish the outstanding bond issues on the basis of the type of bond, as defined in RCW 39.44.200, and shall report the local government's outstanding indebtedness compared to any applicable limitations on indebtedness, including RCW 35.42.200, 39.30.010, and 39.36.020.
[ 2023 c 470 § 2028; 1995 c 399 § 54; 1990 c 220 § 2; 1989 c 225 § 2; 1985 c 130 § 1.]
NOTES:
Explanatory statement—2023 c 470: See note following RCW 10.99.030.
Fiscal agencies: Chapter 43.80 RCW.
Publication of local government bond information by department of commerce—Adoption of rules: RCW 43.63A.155.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.230 - State and local government bond information—Rules.

RCW 39.44.230
State and local government bond information—Rules.
The department of commerce may adopt rules and regulations pursuant to the administrative procedure act to require (1) the submission of bond issuance information by underwriters and bond counsel to the department of commerce in a timely manner and (2) the submission of additional information on bond issues by state and local governments, including summaries of outstanding bond issues.
[ 2023 c 470 § 2029; 1995 c 399 § 55; 1989 c 225 § 3; 1985 c 130 § 3.]
NOTES:
Explanatory statement—2023 c 470: See note following RCW 10.99.030.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.240 - State and local government bond information—Validity of bonds not affected.

RCW 39.44.240
State and local government bond information—Validity of bonds not affected.
Failure to file the information required by RCW 39.44.210 and 39.44.230 shall not affect the validity of the bonds that are issued.
[ 1989 c 225 § 4; 1985 c 130 § 4.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.44 - Bonds—Miscellaneous Provisions, Bond Information Reporting. › 39.44.900 - Validation—Savings—1982 c 216.

RCW 39.44.900
Validation—Savings—1982 c 216.
All bonds, the issuance of which was authorized or ratified at a general or special election held within the issuing jurisdiction prior to April 3, 1982, or the proposition for the issuance of which will be submitted at such an election pursuant to action of the legislative authority of the issuer taken prior to April 3, 1982, may be sold and issued with an interest rate or rates greater than any interest rate restriction contained in the ballot proposition or ordinance or resolution relating to such authorization or ratification if such bonds are or were sold and issued in accordance with the sale provisions and with an interest rate or rates not greater than those permitted by the applicable provision of *this amendatory act, and any such bonds heretofore sold are declared valid obligations of the issuer. This section shall not apply to bonds having a total value exceeding fifteen million dollars.
[ 1982 c 216 § 12.]
NOTES:
*Reviser's note: For codification of "this amendatory act" [1982 c 216], see Codification Tables.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.010 - Purposes—Liberal construction.

RCW 39.46.010
Purposes—Liberal construction.
The purposes of this chapter are to permit the state and local governments to conform with registration requirements of federal law which are necessary to exempt interest payments from federal income taxes when the state or local governments issue bonds or incur other obligations and to authorize the establishment and maintenance of differing systems of registering bonds and other obligations as these systems are developed and recognized, which may be instituted, discontinued, and reinstituted from time to time. It is further the purpose of this chapter to grant local governments an alternative flexible authority to structure and sell their bond issues and to include a variety of features on their bonds.
This act shall be liberally construed to effect its purposes.
[ 1983 c 167 § 1.]
NOTES:
Severability—1983 c 167: "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 c 167 § 273.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.020 - Definitions.

RCW 39.46.020
Definitions.
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.
(1) "Bond" means any agreement, which may or may not be represented by a physical instrument, including notes, warrants, or certificates of indebtedness, that evidences an indebtedness of the state or a local government or a fund thereof, where the state or local government agrees to pay a specified amount of money, with or without interest, at a designated time or times to either registered owners or bearers, including debt issued under chapter 39.50 RCW.
(2) "Host approval" means an approval of an issue of bonds by an applicable elected representative of the state or local government, having jurisdiction, for purposes of section 147(f)(2)(A)(ii) of the internal revenue code, over the area in which a facility is located that is to be financed with bonds issued by an issuer that is not the state or a local government.
(3) "Local government" means any county, city, town, special purpose district, political subdivision, municipal corporation, or quasi-municipal corporation, including any public corporation or instrumentality created by such an entity.
(4) "Obligation" means an agreement that evidences an indebtedness of the state or a local government or a fund thereof, other than a bond, and includes, but is not limited to, conditional sales contracts, lease obligations, and promissory notes.
(5) "State" includes the state, agencies of the state, and public corporations and instrumentalities created by the state or agencies of the state.
(6) "Treasurer" means the state treasurer, county treasurer, city treasurer, or other officer responsible for treasury functions of any other local government.
[ 2016 c 105 § 6; 2011 c 211 § 1; 2001 c 299 § 15; 1995 c 38 § 6; 1994 c 301 § 10; 1983 c 167 § 2.]
NOTES:
Acts of municipal officers ratified and confirmed—1995 c 38: See note following RCW 3.02.045.
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.040 - Bonds—Issuer to determine amount, terms, conditions, interest, etc.—Designated representative.

RCW 39.46.040
Bonds—Issuer to determine amount, terms, conditions, interest, etc.—Designated representative.
(1) A local government authorized to issue bonds must determine for the bond issue its amount, date or dates, terms not in excess of the maximum term otherwise provided in law, conditions, bond denominations, interest rate or rates, which may be fixed or variable, interest payment dates, maturity or maturities, redemption rights, registration privileges, manner of execution, price, manner of sale, covenants, and form, including registration as to principal and interest, registration as to principal only, or bearer. Registration may be as provided in RCW 39.46.030.
(2) If an ordinance or resolution approving the issuance of bonds authorizes an officer or employee of the local government to serve as its designated representative and to accept, on behalf of the local government, an offer to purchase those bonds, the acceptance of the offer by the designated representative must be consistent with terms established by the ordinance or resolution, and with additional parameters set by the governing body of the local government in the ordinance or resolution. That ordinance or resolution must establish the following terms for the bonds or set forth parameters with respect thereto: The amount, date or dates, denominations, interest rate or rates (or mechanism for determining interest rate or rates), payment dates, final maturity, redemption rights, price, minimum savings for refunding bonds (if the refunding bonds are issued for savings purposes), and any other terms and conditions deemed appropriate by the legislative body of the local government. A county designating a representative in accordance with this subsection must act in a manner that is consistent with the approved county debt policy adopted in accordance with RCW 36.48.070.
[ 2011 c 210 § 1; 1983 c 167 § 4.]
NOTES:
Application to previously issued bonds—2011 c 210: "All bonds previously issued and any reimbursements previously made with bond proceeds by any local government and consistent with the provisions of this act are hereby validated, ratified, and confirmed." [ 2011 c 210 § 6.]
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.050 - Bonds—Issuer authorized to establish lines of credit.

RCW 39.46.050
Bonds—Issuer authorized to establish lines of credit.
Each local government authorized to issue bonds is authorized to establish lines of credit with any qualified public depository to be drawn upon in exchange for its bonds or other obligations, to delegate to its treasurer authority to determine the amount of credit extended, and to pay interest and other finance or service charges. The interest rates on such bonds or other obligations may be a fixed rate or rates set periodically or a variable rate or rates determined by agreement of the parties.
[ 2003 c 23 § 1; 1983 c 167 § 5.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.060 - Bonds—Reproduction of physical instrument.

RCW 39.46.060
Bonds—Reproduction of physical instrument.
Where bonds are issued by the state or a local government as physical instruments, the bonds shall be printed, engraved, lithographed, typed, or reproduced and the manual or facsimile signatures of both a designated officer and chairperson of the governing body or chief executive shall be included on each bond.
[ 1983 c 167 § 6.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.070 - Bonds—Payment of costs of issuance and sale.

RCW 39.46.070
Bonds—Payment of costs of issuance and sale.
(1) Except as provided in subsection (2) of this section, the proceeds of any bonds issued by the state or a local government may be used to pay incidental costs and costs related to the sale and issuance of the bonds. Such costs include payments for fiscal and legal expenses, obtaining bond ratings, printing, engraving, advertising, establishing and funding reserve accounts and other accounts, an amount for working capital, capitalized interest for up to six months after completion of construction, necessary and related engineering, architectural, planning, and inspection costs, and other similar activities or purposes.
(2) In addition to the costs enumerated in subsection (1) of this section, costs authorized under this section include capitalized interest for up to seventy-two months from the date of issuance for bonds issued by the state for the construction of a public toll bridge under chapter 47.46 RCW.
[ 2002 c 114 § 22; 1983 c 167 § 7.]
NOTES:
Finding—Intent—2002 c 114: See RCW 47.46.011.
Captions not law—2002 c 114: See note following RCW 47.46.011.
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.100 - RCW 39.46.010 through 39.46.070 constitutes alternative method.

RCW 39.46.100
RCW 39.46.010 through 39.46.070 constitutes alternative method.
RCW 39.46.010 through 39.46.070 shall be deemed to provide a complete, additional, and alternative method for the performance of those subjects authorized by these sections and shall be regarded as supplemental and additional to powers conferred by other state laws. Whenever bonds and other obligations are issued and sold in conformance with RCW 39.46.010 through 39.46.070, such issuance and sale need not comply with contrary requirements of other state laws applicable to the issuance and sale of bonds or other obligations.
[ 1983 c 167 § 8.]
NOTES:
Liberal construction—Severability—1983 c 167: See RCW 39.46.010 and note following.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.110 - Local government general obligation bonds—Indebtedness—Payment—Notice by special district.

RCW 39.46.110
Local government general obligation bonds—Indebtedness—Payment—Notice by special district.
(1) General obligation bonds of local governments shall be subject to this section. Unless otherwise stated in law, the maximum term of any general obligation bond issue shall be forty years.
(2) General obligation bonds constitute an indebtedness of the local government issuing the bonds that are subject to the indebtedness limitations provided in Article VIII, section 6 of the state Constitution and are payable from tax revenues of the local government and such other money lawfully available and pledged or provided by the governing body of the local government for that purpose. Such governing body may pledge the full faith, credit and resources of the local government for the payment of general obligation bonds. The payment of such bonds shall be enforceable in mandamus against the local government and its officials. The officials now or hereafter charged by law with the duty of levying taxes pledged for the payment of general obligation bonds and interest thereon shall, in the manner provided by law, make an annual levy of such taxes sufficient together with other moneys lawfully available and pledge [pledged] therefor to meet the payments of principal and interest on the bonds as they come due.
(3) General obligation bonds, whether or not issued as physical instruments, shall be executed in the manner determined by the governing body or legislative body of the issuer. If the issuer is the county or a special district for which the county treasurer is the treasurer, the issuer shall notify the county treasurer at least thirty days in advance of authorizing the issuance of bonds or the incurrence of other certificates of indebtedness.
(4) Unless another statute specifically provides otherwise, the owner of a general obligation bond, or the owner of an interest coupon, issued by a local government shall not have any claim against the state arising from the general obligation bond or interest coupon.
(5) As used in this section, the term "local government" means every unit of local government, including municipal corporations, quasi municipal corporations, and political subdivisions, where property ownership is not a prerequisite to vote in the local government's elections.
[ 1998 c 106 § 7; 1995 c 38 § 8; 1994 c 301 § 12; 1984 c 186 § 2.]
NOTES:
Acts of municipal officers ratified and confirmed—1995 c 38: See note following RCW 3.02.045.
Purpose—1984 c 186: "The purpose of this 1984 act is to provide simplified and uniform authorities for various local governments to issue and sell general obligation bonds. It is not the purpose of this 1984 act to alter the indebtedness limitation of local governments." [ 1984 c 186 § 1.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.120 - Notice of intent to sell general obligation bonds.

RCW 39.46.120
Notice of intent to sell general obligation bonds.
Notice of intent to sell general obligation bonds at a public sale shall be provided in a reasonable manner as determined by the legislative authority or governing body of the issuer.
[ 1984 c 186 § 4.]
NOTES:
Purpose—1984 c 186: See note following RCW 39.46.110.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.46 - Bonds—Other Miscellaneous Provisions—Registration. › 39.46.160 - Revenue bonds—Alternative method of issuance—Bonds may include reserve funds.

RCW 39.46.160
Revenue bonds—Alternative method of issuance—Bonds may include reserve funds.
Any local government issuing revenue bonds under this section and RCW 39.46.150 may include in the amount of any such issue money for the purpose of establishing, maintaining, or increasing reserve funds to:
(1) Secure the payment of the principal of and interest on such revenue bonds; or
(2) Provide for replacements or renewals of or repairs or betterments to revenue producing facilities; or
(3) Provide for contingencies, including, but not limited to, loss of revenue caused by such contingencies.
[ 1986 c 168 § 2.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.48 - Bonds Sold to Government at Private Sale. › 39.48.010 - Authority conferred.

RCW 39.48.010
Authority conferred.
Bonds and securities of all kinds heretofore or hereafter authorized, issued by any issuing corporation or district (hereinafter called the "issuer" and as hereinafter specified), whether such bonds and securities be issued for such issuer itself or for any other taxing or assessment district within its limits, and whether payable in whole or in part out of and from general taxes or payable in whole or in part out of and from the earnings to be derived from any utility, system, construction, work, or works, belonging to or operated by any such issuer, or payable in whole or in part out of and from "local" or "benefit" assessments upon lands within any assessment district or assessment subdivision within any such issuer, may be sold to the United States government or to any department, corporation or agency thereof by private sale without giving any prior notice thereof by publication or otherwise and in such manner as the governing authority of such issuer may provide: PROVIDED, Only that bonds or other securities sold at private sale under the authority of this chapter shall bear interest at a rate or rates as authorized by the issuer and that all bonds and securities sold and issued under the authority of this chapter shall be sold, if now required by existing law, at not less than par and accrued interest.
[ 1970 ex.s. c 56 § 59; 1969 ex.s. c 232 § 76; 1933 ex.s. c 30 § 1; RRS § 5583-11.]
NOTES:
Purpose—1970 ex.s. c 56: See note following RCW 39.52.020.
Validation—Saving—Severability—1969 ex.s. c 232: See notes following RCW 39.52.020.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.48 - Bonds Sold to Government at Private Sale. › 39.48.020 - Amortization—Requirements relaxed.

RCW 39.48.020
Amortization—Requirements relaxed.
It shall be proper to provide with respect to any bonds now required to be amortized as provided by *RCW 39.44.010 through 39.44.080, that such amortized annual maturities shall commence to be payable at any time on or before five years from the date of said bonds, and that any bonds, or any part thereof, issued under the authority of this chapter, shall be redeemable prior to their fixed maturities, as provided by the governing board or authority of any such issuer.
[ 1933 ex.s. c 30 § 2; RRS § 5583-12.]
NOTES:
*Reviser's note: RCW 39.44.010, 39.44.011, 39.44.020, 39.44.030, 39.44.060, and 39.44.080 were repealed by 1984 c 186 § 70.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.48 - Bonds Sold to Government at Private Sale. › 39.48.030 - "Issuer" defined.

RCW 39.48.030
"Issuer" defined.
The issuing corporations, districts, and subdivisions hereinbefore referred to and described as "issuer", shall include any county, city, town, school district, port district, metropolitan park district, taxing district, assessment district or any public corporation or municipal corporation authorized by existing law to issue bonds, securities or other evidences of indebtedness for itself or for any other taxing or assessment district therein or department thereof.
[ 1933 ex.s. c 30 § 3; RRS § 5583-13.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.48 - Bonds Sold to Government at Private Sale. › 39.48.040 - Chapter optional.

RCW 39.48.040
Chapter optional.
It shall be optional with any such issuer, at its discretion, to exercise all or any of the powers conferred by this chapter in connection with the adoption and exercise by any such issuer of the provisions and powers granted by existing law.
[ 1933 ex.s. c 30 § 4; RRS § 5583-14.]