reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.863 - Proceeds—Deposit and use.

RCW 47.10.863
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.861 shall be deposited in the transportation 2003 account (nickel account) in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.861, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 2003 c 147 § 3.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.864 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.864
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.861 through 47.10.866 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 47.10.861 through 47.10.866 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 these 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 47.10.861 through 47.10.866, 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 47.10.861 through 47.10.866.
[ 2022 c 103 § 9; 2013 c 225 § 626; 2003 c 147 § 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.
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.865 - Repayment procedure—Bond retirement fund.

RCW 47.10.865
Repayment procedure—Bond retirement fund.
Both principal and interest on the bonds issued for the purposes of RCW 47.10.861 through 47.10.866 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 transportation 2003 account (nickel 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 47.10.861 through 47.10.866 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 that is distributed to the transportation 2003 account (nickel account) in the motor vehicle fund. 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 transportation 2003 account (nickel 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 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 transportation 2003 account (nickel account) not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 10; 2003 c 147 § 5.]
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—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.866 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.866
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.861 through 47.10.865 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 § 11; 2003 c 147 § 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—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.867 - Bond issue authorized—Appropriation of proceeds.

RCW 47.10.867
Bond issue authorized—Appropriation of proceeds.
For the purpose of providing funds for the planning, design, construction, reconstruction, and other necessary costs for transportation projects, the state finance committee is authorized to issue general obligation bonds of the state of Washington in the sum of two hundred forty-nine million five hundred thousand dollars, or as much thereof as may be required, to finance these projects and all costs incidental thereto. Bonds authorized in this section may be sold at such price as the state finance committee shall determine. No bonds authorized in this section may be offered for sale without prior legislative appropriation of the net proceeds of the sale of the bonds.
[ 2009 c 498 § 6; 2003 c 147 § 7.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.868 - Proceeds—Deposit and use.

RCW 47.10.868
Proceeds—Deposit and use.
The proceeds of the sale of the bonds authorized in RCW 47.10.867 must be deposited in the multimodal transportation account and must be used exclusively for the purposes specified in RCW 47.10.867 and for the payment of expenses incurred in the issuance and sale of the bonds.
[ 2003 c 147 § 8.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.869 - Repayment procedure.

RCW 47.10.869
Repayment procedure.
(1) The nondebt-limit reimbursable bond retirement account must be used for the payment of the principal and interest on the bonds authorized in RCW 47.10.867.
(2)(a) The state finance committee must, on or before June 30th of each year, certify to the state treasurer the amount needed in the ensuing twelve months to meet the bond retirement and interest requirements on the bonds authorized in RCW 47.10.867.
(b) On or before the date on which any interest or principal and interest is due, the state treasurer shall transfer from the multimodal transportation account for deposit into the nondebt-limit reimbursable bond retirement account the amount computed in (a) of this subsection for bonds issued for the purposes of RCW 47.10.867.
(3) If the multimodal transportation account has insufficient revenues to pay the principal and interest computed in subsection (2)(a) of this section, then the debt-limit reimbursable bond retirement account must be used for the payment of the principal and interest on the bonds authorized in RCW 47.10.867 from any additional means provided by the legislature.
(4) If at any time the multimodal transportation account has insufficient revenues to repay the bonds, the legislature may provide additional means for the payment of the bonds.
[ 2003 c 147 § 9.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.870 - Statement of general obligation—Transfer and payment of funds.

RCW 47.10.870
Statement of general obligation—Transfer and payment of funds.
(1) Bonds issued under RCW 47.10.867 must 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 and interest, and must contain an unconditional promise to pay the principal and interest as it becomes due.
(2) The owner and holder of each of the bonds or the trustee for the owner and holder of any of the bonds may by mandamus or other appropriate proceeding require the transfer and payment of funds as directed in this section.
[ 2003 c 147 § 10.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.871 - Additional repayment means.

RCW 47.10.871
Additional repayment means.
The legislature may provide additional means for raising moneys for the payment of the principal and interest on the bonds authorized in RCW 47.10.867, and RCW 47.10.869 and 47.10.870 are not deemed to provide an exclusive method for their payment.
[ 2003 c 147 § 11.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.872 - Legal investment.

RCW 47.10.872
Legal investment.
The bonds authorized in RCW 47.10.867 are a legal investment for all state funds or funds under state control and for all funds of any other public body.
[ 2003 c 147 § 12.]
NOTES:
Effective date—2003 c 147: See note following RCW 47.10.861.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.873 - Bond issue authorized.

RCW 47.10.873
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 2005 transportation partnership projects or improvements in an omnibus transportation appropriations act, there shall be issued and sold upon the request of the department of transportation a total of five billion three hundred million dollars of general obligation bonds of the state of Washington.
[ 2020 c 24 § 1; 2007 c 519 § 4; 2005 c 315 § 1.]
NOTES:
Effective date—2005 c 315: "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, 2005." [ 2005 c 315 § 8.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.874 - Administration and amount of sale.

RCW 47.10.874
Administration and amount of sale.
Upon the request 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 47.10.873 through 47.10.878 in accordance with chapter 39.42 RCW. Bonds authorized by RCW 47.10.873 through 47.10.878 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.
[ 2005 c 315 § 2.]
NOTES:
Effective date—2005 c 315: See note following RCW 47.10.873.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.875 - Proceeds—Deposit and use.

RCW 47.10.875
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.873 shall be deposited in the transportation partnership account in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.873, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 2005 c 315 § 3.]
NOTES:
Effective date—2005 c 315: See note following RCW 47.10.873.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.876 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.876
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.873 through 47.10.878 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 47.10.873 through 47.10.878 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 these 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 47.10.873 through 47.10.878, 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 47.10.873 through 47.10.878.
[ 2022 c 103 § 6; 2013 c 225 § 627; 2005 c 315 § 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.
Effective date—2005 c 315: See note following RCW 47.10.873.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.877 - Repayment procedure—Bond retirement fund.

RCW 47.10.877
Repayment procedure—Bond retirement fund.
Both principal and interest on the bonds issued for the purposes of RCW 47.10.873 through 47.10.878 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 transportation partnership 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 47.10.873 through 47.10.878 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 that is distributed to the transportation partnership account in the motor vehicle fund. 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 transportation partnership 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 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 transportation partnership account not required for bond retirement or interest on the bonds.
[ 2022 c 103 § 7; 2007 c 519 § 5; 2005 c 315 § 5.]
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—2005 c 315: See note following RCW 47.10.873.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.878 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.878
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.873 through 47.10.877 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 § 8; 2005 c 315 § 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—2005 c 315: See note following RCW 47.10.873.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.879 - Bond issue authorized.

RCW 47.10.879
Bond issue authorized.
In order to provide funds necessary for the location, design, right-of-way, and construction of the state route number 520 corridor projects, as allowed in section 2, chapter 472, Laws of 2009, there shall be issued and sold upon the request of the department of transportation a total of one billion nine hundred fifty million dollars of general obligation bonds of the state of Washington first payable from toll revenue and excise taxes on motor vehicle and special fuels in accordance with RCW 47.10.883.
[ 2009 c 498 § 8.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.880 - Administration and amount of sale.

RCW 47.10.880
Administration and amount of sale.
Upon the request of the department of transportation, the state finance committee shall supervise and provide for the issuance, sale, and retirement of the bonds authorized by chapter 498, Laws of 2009 in accordance with chapter 39.42 RCW. Bonds authorized by chapter 498, Laws of 2009 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.
[ 2009 c 498 § 9.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.881 - Proceeds—Deposit and use.

RCW 47.10.881
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by chapter 498, Laws of 2009 shall be deposited in the state route number 520 corridor account created under chapter 472, Laws of 2009, and shall be available only for the purposes enumerated in RCW 47.10.879, for the payment of bond anticipation notes or other interim financing, if any, capitalizing interest on the bonds, and for the payment of bond issuance costs, including the costs of underwriting.
[ 2009 c 498 § 10.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.883 - Statement of general obligation—Pledge of toll revenue and excise taxes.

RCW 47.10.883
Statement of general obligation—Pledge of toll revenue and excise taxes.
Bonds issued under the authority of this section and RCW 47.10.879, 47.10.884, and 47.10.885 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 the bonds must be first payable in the manner provided in this section and RCW 47.10.879, 47.10.884, and 47.10.885 from toll revenue and then from proceeds of excise taxes on motor vehicle and special fuels and vehicle-related fees to the extent toll revenue is not available for that purpose. Toll revenue and the state excise taxes on motor vehicle and special fuels imposed by chapter 82.38 RCW and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of this section and RCW 47.10.879, 47.10.884, and 47.10.885, and the legislature agrees to continue to impose these toll charges on the state route number 520 corridor, and on any other eligible toll facility designated by the legislature and on which the imposition of tolls is authorized by the legislature in respect of the bonds, and 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 this section and RCW 47.10.879, 47.10.884, and 47.10.885.
[ 2022 c 103 § 3; 2013 c 225 § 628; 2009 c 498 § 12.]
NOTES:
Applicability—2022 c 103: "The amendments made in sections 3 through 32 of this act to any highway bond act shall apply only to the highway bonds that have been authorized to be issued but that have not yet been issued and are not outstanding on June 9, 2022, and are issued after June 9, 2022." [ 2022 c 103 § 33.]
Intent—2022 c 103: See note following RCW 47.10.908.
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. › 47.10.884 - Repayment procedure.

RCW 47.10.884
Repayment procedure.
For bonds issued under the authority of this section and RCW 47.10.879, 47.10.883, and 47.10.885, the state treasurer shall first withdraw toll revenue from the state route number 520 corridor account created under chapter 472, Laws of 2009, and, to the extent toll revenue is not available, excise taxes on motor vehicle and special fuels and vehicle-related fees in the motor vehicle fund and deposit in the toll facility bond retirement account, or a special subaccount in the account, such amounts, and at such times, as are required by the bond proceedings.
Any excise taxes on motor vehicle and special fuels and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.879, 47.10.883, and 47.10.885 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 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 or vehicle-related fees that are distributable to the state, counties, cities, and towns shall be repaid from available toll revenue in the manner provided in the bond proceedings or, if toll revenue is not available for that purpose, from the first excise taxes on motor vehicle and special fuels and vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds. Any excise taxes on motor vehicle and special fuels and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.879, 47.10.883, and 47.10.885 shall be reimbursed to the motor vehicle fund from toll revenue in the manner and with the priority specified in the bond proceedings.
[ 2022 c 103 § 4; 2009 c 498 § 13.]
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. › 47.10.885 - Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.

RCW 47.10.885
Equal charge against motor vehicle and special fuels excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.879, 47.10.883, and 47.10.884 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 § 5; 2009 c 498 § 14.]
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. › 47.10.886 - Toll revenue bonds.

RCW 47.10.886
Toll revenue bonds.
If and to the extent that the state finance committee determines, in consultation with the department of transportation and the tolling authority, that it will be beneficial for the state to issue any bonds authorized in RCW 47.10.879 and 47.10.883 through 47.10.885 as toll revenue bonds rather than as general obligation bonds, the state finance committee is authorized to issue and sell, upon the request of the department of transportation, such bonds as toll revenue bonds and not as general obligation bonds. Notwithstanding RCW 47.10.883, each such bond shall contain a recital that payment or redemption of the bond and payment of the interest and any premium thereon is payable solely from and secured solely by a direct pledge, charge, and lien upon toll revenue and is not a general obligation of the state to which the full faith and credit of the state is pledged.
Toll revenue is hereby pledged to the payment of any bonds and the interest thereon issued under the authority of this section, and the legislature agrees to continue to impose these toll charges on the state route number 520 corridor, and on any other eligible toll facility designated by the legislature and on which the imposition of tolls is authorized by the legislature in respect of the bonds, in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of this section.
[ 2011 c 377 § 4. Prior: 2009 c 498 § 16.]
NOTES:
Effective date—2011 c 377: See note following RCW 47.56.796.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.889 - Bond issue authorized.

RCW 47.10.889
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 connecting Washington projects or improvements in an omnibus transportation appropriations act, there shall be issued and sold upon the request of the department of transportation a total of five billion three hundred million dollars of general obligation bonds of the state of Washington.
[ 2015 3rd sp.s. c 45 § 1.]
NOTES:
Effective date—2015 3rd sp.s. c 45: "Except for sections 8 through 10 of this act, 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 immediately [July 15, 2015]." [ 2015 3rd sp.s. c 45 § 12.]
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.890 - Administration and amount of sale.

RCW 47.10.890
Administration and amount of sale.
Upon the request 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 chapter 45, Laws of 2015 3rd sp. sess. in accordance with chapter 39.42 RCW. Bonds authorized by chapter 45, Laws of 2015 3rd sp. sess. 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.
[ 2015 3rd sp.s. c 45 § 2.]
NOTES:
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.891 - Proceeds—Deposit and use.

RCW 47.10.891
Proceeds—Deposit and use.
The proceeds from the sale of bonds authorized by RCW 47.10.889 shall be deposited in the connecting Washington account in the motor vehicle fund. The proceeds shall be available only for the purposes enumerated in RCW 47.10.889, for the payment of bond anticipation notes, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 2015 3rd sp.s. c 45 § 3.]
NOTES:
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.892 - Statement of general obligation—Pledge of excise taxes and vehicle-related fees.

RCW 47.10.892
Statement of general obligation—Pledge of excise taxes and vehicle-related fees.
Bonds issued under the authority of this section and RCW 47.10.889 through 47.10.891, 47.10.893, and 47.10.894 shall distinctly 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 such principal and interest as the same shall become due. The principal and interest on the bonds shall be first payable in the manner provided in this section and RCW 47.10.889 through 47.10.891, 47.10.893, and 47.10.894 from the proceeds of the state excise taxes on fuel imposed by chapter 82.38 RCW and vehicle-related fees imposed under Title 46 RCW that constitute license fees for motor vehicles required to be used for highway purposes. Proceeds of these excise taxes and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of this section and RCW 47.10.889 through 47.10.891, 47.10.893, and 47.10.894, and the legislature agrees to continue to impose these excise taxes on fuel and vehicle-related fees in amounts from such sources sufficient to pay, when due, the principal and interest on all bonds issued under the authority of this section and RCW 47.10.889 through 47.10.891, 47.10.893, and 47.10.894.
[ 2015 3rd sp.s. c 45 § 8; (2015 3rd sp.s. c 45 § 4 expired July 1, 2016).]
NOTES:
Effective date—2015 3rd sp.s. c 45 §§ 8-10: "Sections 8 through 10 of this act take effect July 1, 2016." [ 2015 3rd sp.s. c 45 § 14.]
Expiration date—2015 3rd sp.s. c 45 §§ 4-6: "Sections 4 through 6 of this act expire July 1, 2016." [ 2015 3rd sp.s. c 45 § 13.]
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.893 - Repayment procedure—Bond retirement fund.

RCW 47.10.893
Repayment procedure—Bond retirement fund.
(1) Both principal and interest on the bonds issued for the purposes of this section and RCW 47.10.889 through 47.10.892 and 47.10.894 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 connecting Washington 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.
(2)(a) Any funds required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.889 through 47.10.892 and 47.10.894 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on fuel and vehicle-related fees, and that is distributed to the connecting Washington account in the motor vehicle fund.
(b) Funds required shall never constitute a charge against any other allocations of fuel tax and vehicle-related fee revenues to the state, counties, cities, and towns unless the amount arising from excise taxes on fuel and vehicle-related fees distributed to the connecting Washington account described in (a) of this subsection proves insufficient to meet the requirements for bond retirement or interest on any such bonds.
(c) Any payments for bond retirement or interest on the bonds taken from other revenues from the 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 fuel taxes and vehicle-related fees distributed to the connecting Washington account described in (a) of this subsection not required for bond retirement or interest on the bonds.
[ 2015 3rd sp.s. c 45 § 9; (2015 3rd sp.s. c 45 § 5 expired July 1, 2016).]
NOTES:
Effective date—2015 3rd sp.s. c 45 §§ 8-10: See note following RCW 47.10.892.
Expiration date—2015 3rd sp.s. c 45 §§ 4-6: See note following RCW 47.10.892.
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.894 - Equal charge against fuel excise taxes and vehicle-related fees.

RCW 47.10.894
Equal charge against fuel excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.889 through 47.10.893 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 fuel excise taxes and vehicle-related fees for the payment of principal and interest thereon shall be an equal charge against the revenues from such fuel excise taxes and vehicle-related fees.
[ 2015 3rd sp.s. c 45 § 10; (2015 3rd sp.s. c 45 § 6 expired July 1, 2016).]
NOTES:
Effective date—2015 3rd sp.s. c 45 §§ 8-10: See note following RCW 47.10.892.
Expiration date—2015 3rd sp.s. c 45 §§ 4-6: See note following RCW 47.10.892.
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.895 - Definition.

RCW 47.10.895
Definition.
For purposes of RCW 47.10.889 through 47.10.894, "vehicle-related fees" means vehicle-related fees imposed under Title 46 RCW that constitute license fees for motor vehicles required to be used for highway purposes.
[ 2015 3rd sp.s. c 45 § 7.]
NOTES:
Effective date—2015 3rd sp.s. c 45: See note following RCW 47.10.889.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.897 - Administration and amount of sale.

RCW 47.10.897
Administration and amount of sale.
Upon the request of the department, the state finance committee shall supervise and provide for the issuance, sale, and retirement of bonds authorized by chapter 421, Laws of 2019 in accordance with chapter 39.42 RCW. Bonds authorized by chapter 421, Laws of 2019 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.
[ 2019 c 421 § 3.]
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.898 - Proceeds—Deposit and use.

RCW 47.10.898
Proceeds—Deposit and use.
(1) The proceeds from the sale of bonds authorized by:
(a) RCW 47.10.896(1)(a) shall be deposited in the Interstate 405 and state route number 167 express toll lanes account created in RCW 47.56.884; and
(b) RCW 47.10.896(1)(b) shall be deposited in the Puget Sound Gateway facility account created in RCW 47.56.897.
(2) The bond proceeds shall be available only for the purposes enumerated in section 2, chapter 421, Laws of 2019 [RCW 47.10.896], for the payment of bond anticipation notes or other interim financing, if any, capitalizing interest on the bonds, funding a debt service reserve fund, if any, and for the payment of bond issuance costs, including the costs of underwriting.
[ 2019 c 421 § 4.]
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.899 - Statement of general obligation—Pledge of toll revenue and excise taxes and vehicle-related fees.

RCW 47.10.899
Statement of general obligation—Pledge of toll revenue and excise taxes and vehicle-related fees.
Bonds issued under the authority of this section and RCW 47.10.896, 47.10.900, and 47.10.901 shall distinctly 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 such principal and interest as the same shall become due. The principal of and interest on the bonds shall be first payable in the manner provided in this section and RCW 47.10.896, 47.10.900, and 47.10.901 from toll revenue and then from proceeds of excise taxes on fuel and vehicle-related fees to the extent toll revenue is not available for that purpose. Toll revenue and the state excise taxes on fuel imposed by chapter 82.38 RCW and vehicle-related fees are hereby pledged to the payment of any bonds and the interest thereon issued under the authority of this section and RCW 47.10.896, 47.10.900, and 47.10.901, and the legislature agrees to continue to impose these toll charges on the Interstate 405 and state route number 167 express toll lanes, and on the Puget Sound Gateway facility, and on any other eligible toll facility designated by the legislature and on which the imposition of tolls is authorized by the legislature in respect of the bonds, and excise taxes on fuel and vehicle-related fees in amounts sufficient to pay, when due, the principal and interest on all bonds issued under the authority of this section and RCW 47.10.896, 47.10.900, and 47.10.901.
[ 2019 c 421 § 5.]
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.900 - Repayment procedure.

RCW 47.10.900
Repayment procedure.
For bonds issued under the authority of this section and RCW 47.10.896, 47.10.899, and 47.10.901, the state treasurer shall first withdraw toll revenue from the appropriate toll account for the facility for which the bonds are issued and sold, and, to the extent toll revenue is not available, excise taxes on fuel and vehicle-related fees and deposit in the toll facility bond retirement account, or a special subaccount in the account, such amounts, and at such times, as are required by the bond proceedings.
Any excise taxes on fuel and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.896, 47.10.899, and 47.10.901 shall be taken from that portion of the motor vehicle fund that results from the imposition of excise taxes on fuel and vehicle-related fees and which is, or may be, appropriated to the department for state highway purposes. Funds required shall never constitute a charge against any other allocations of fuel tax and vehicle-related fee revenues to the state, counties, cities, and towns unless the amount arising from excise taxes on fuel 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 fuel taxes and vehicle-related fees that are distributable to the state, counties, cities, and towns shall be repaid from available toll revenue in the manner provided in the bond proceedings or, if toll revenue is not available for that purpose, from the first revenues from the excise taxes on fuel and vehicle-related fees distributed to the motor vehicle fund not required for bond retirement or interest on the bonds. Any excise taxes on fuel and vehicle-related fees required for bond retirement or interest on the bonds authorized by this section and RCW 47.10.896, 47.10.899, and 47.10.901 shall be reimbursed to the motor vehicle fund from toll revenue in the manner and with the priority specified in the bond proceedings.
[ 2019 c 421 § 6.]
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.901 - Equal charge against fuel excise taxes and vehicle-related fees.

RCW 47.10.901
Equal charge against fuel excise taxes and vehicle-related fees.
Bonds issued under the authority of RCW 47.10.896, 47.10.899, and 47.10.900 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 excise taxes on fuel and vehicle-related fees for the payment of principal and interest thereon shall be an equal charge against the revenues from such excise taxes on fuel and vehicle-related fees.
[ 2019 c 421 § 7.]
NOTES:
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.905 - Toll facility bond retirement account.

RCW 47.10.905
Toll facility bond retirement account.
The toll facility bond retirement account is created in the state treasury for the purpose of payment of the principal of and interest and premium on bonds. Both principal of and interest on the bonds issued for the purposes of chapter 498, Laws of 2009, chapter 377, Laws of 2011, and chapter 421, Laws of 2019 shall be payable from the toll facility bond retirement account. The state finance committee may provide that special subaccounts be created in the account to facilitate payment of the principal of and interest on the bonds. 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.
[ 2019 c 421 § 8; 2011 c 377 § 3; 2009 c 498 § 11. Formerly RCW 47.10.882.]
NOTES:
Reviser's note: This section was recodified by the code reviser.
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
Effective date—2011 c 377: See note following RCW 47.56.796.
2023 Revised Code of Washington › Title 47 - Public Highways and Transportation › Chapter 47.10 - Highway Construction Bonds. › 47.10.907 - Definitions.

RCW 47.10.907
Definitions.
(1) For the purposes of chapter 498, Laws of 2009, chapter 377, Laws of 2011, and chapter 421, Laws of 2019, "toll revenue" means all toll receipts, all interest income derived from the investment of toll receipts, and any gifts, grants, or other funds received for the benefit of transportation facilities in the state, including eligible toll facilities. However, for the purpose of any pledge of toll revenue to the payment of particular bonds issued under chapter 498, Laws of 2009, chapter 377, Laws of 2011, and chapter 421, Laws of 2019, "toll revenue" means and includes only such toll revenue or portion thereof that is pledged to the payment of those bonds in the resolution authorizing the issuance of such bonds. Toll revenue constitutes "fees and revenues derived from the ownership or operation of any undertaking, facility, or project" as that phrase is used in Article VIII, section 1(c)(1) of the state Constitution.
(2) For the purposes of chapter 498, Laws of 2009, chapter 377, Laws of 2011, and chapter 421, Laws of 2019, "tolling authority" has the same meaning as in RCW 47.56.810.
[ 2019 c 421 § 10; 2011 c 377 § 6; 2009 c 498 § 18. Formerly RCW 47.10.888.]
NOTES:
Reviser's note: This section was recodified by the code reviser.
Intent—Effective date—2019 c 421: See notes following RCW 47.10.896.
Effective date—2011 c 377: See note following RCW 47.56.796.