2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.896 - Bond issue authorized.

RCW 47.10.896
Bond issue authorized.
(1) In order to provide funds necessary for the design, right-of-way, and construction of projects as allowed in RCW 47.56.880, 47.56.884, 47.56.895, and 47.56.897, there shall be issued and sold upon the request of the department of transportation up to the following amounts of general obligation bonds of the state of Washington first payable from toll revenue and excise taxes on fuel and vehicle-related fees in accordance with RCW 47.10.899:
(a) One billion one hundred sixty million dollars for the Interstate 405 and state route number 167 express toll lanes; and
(b) Three hundred forty million dollars for the Puget Sound Gateway facility.
(2) For purposes of chapter 421, Laws of 2019, "vehicle-related fees" means vehicle-related fees imposed under Title 46 RCW that constitute license fees for motor vehicles to be used for highway purposes.
[ 2019 c 421 § 2.]
NOTES:
Intent—2019 c 421: "(1) The legislature recognizes that the Puget Sound region is faced with growing traffic congestion and must improve mobility for people and goods by maximizing the effectiveness of the freeway system. Investments in the Interstate 405, state route number 167, and state route number 509 corridors are essential for providing benefits for the movement of vehicles and people. Further, the legislature recognizes that in 2015, the passage of the connecting Washington transportation revenue proposal assumed that tolling would be a component of projects on these corridors.
(2) The legislature recognizes that completion of state route number 167 in Pierce county and completion of state route number 509 in King county provide essential connections to the Port of Tacoma and the Port of Seattle and will help ensure people and goods move more reliably through the Puget Sound region. The completion of these corridors, known as the Gateway project, will play an essential role in enhancing the state's economic competitiveness, both nationally and globally.
(3) The legislature acknowledges that as one of the most congested freeway sections in the state, the combined Interstate 405 and state route number 167 corridor in King county serves as an ideal candidate for an express toll lanes network. The express toll lanes network provides a tool for managing the use of high occupancy vehicle lanes while generating funds to improve projects in the corridor.
(4) Therefore, it is the intent of this act to expedite the delivery of the Puget Sound Gateway facility, designate the Puget Sound Gateway project as an eligible toll facility, and authorize the imposition of tolls on the Puget Sound Gateway facility. It is further the intent of this act to direct the department of transportation to develop and operate an express toll lanes network on Interstate 405 from the city of Lynnwood on the north end to the intersection of state route number 167 and state route number 512 on the south end." [ 2019 c 421 § 1.]
Effective date—2019 c 421: "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 June 30, 2019." [ 2019 c 421 § 20.]