reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.106 - Joint Municipal Utility Services. › 39.106.080 - Conversion of existing entities into authorities.

RCW 39.106.080
Conversion of existing entities into authorities.
(1) Any intergovernmental entity formed under chapter 39.34 RCW or other applicable law may become a joint municipal utility services authority and be entitled to all the powers and privileges available under this chapter, if: (a) The public agencies that are parties to an existing interlocal agreement would otherwise be eligible to form an authority to provide the relevant utility services; (b) the public agencies that are parties to the existing interlocal agreement amend, restate, or replace that interlocal agreement so that it materially complies with the requirements of RCW 39.106.050; (c) the amended, restated, or replacement agreement is filed with the Washington state secretary of state consistent with RCW 39.106.030; and (d) the amended, restated, or replacement agreement expressly provides that all rights and obligations of the entity formerly existing under chapter 39.34 RCW or other applicable law shall thereafter be the obligations of the new authority created under this chapter. Upon compliance with those requirements, the new authority shall be a successor of the former intergovernmental entity for all purposes, and all rights and obligations of the former entity shall transfer to the new authority. Those obligations shall be treated as having been incurred, entered into, or issued by the new authority, and those obligations shall remain in full force and effect and shall continue to be enforceable in accordance with their terms.
(2) If an interlocal agreement under chapter 39.34 RCW or other applicable law relating to utility services includes among its original participants a city or county that does not itself provide or no longer provides utility services, that city or county may continue as a party to the amended, restated, or replacement agreement and shall be treated as a member for all purposes under this chapter.
[ 2011 c 258 § 8.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.106 - Joint Municipal Utility Services. › 39.106.090 - Powers conferred by chapter are supplemental.

RCW 39.106.090
Powers conferred by chapter are supplemental.
The powers and authority conferred by this chapter shall be construed as in addition and supplemental to powers or authority conferred by any other law, and nothing contained in this chapter shall be construed as limiting any other powers or authority of any member or any other entity formed under chapter 39.34 RCW or other applicable law.
[ 2011 c 258 § 9.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.030 - Designation of sending areas—Inclusion of agricultural and forestland of long-term commercial significance.

RCW 39.108.030
Designation of sending areas—Inclusion of agricultural and forestland of long-term commercial significance.
An eligible county must designate all agricultural and forestland of long-term commercial significance within its jurisdiction as sending areas for conservation under the eligible county's program for transfer of development rights. The development rights from all such agricultural and forestland of long-term commercial significance within the eligible counties must be available for transfer to receiving cities under this chapter.
[ 2011 c 318 § 301.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.040 - Development rights from agricultural and forestland of long-term commercial significance.

RCW 39.108.040
Development rights from agricultural and forestland of long-term commercial significance.
(1) An eligible county must calculate the number of development rights from agricultural and forestland of long-term commercial significance that are eligible for transfer to receiving areas. An eligible county must determine transferable development rights for allocation purposes in this program by:
(a) Base zoning in effect as of January 1, 2011; or
(b) An allocation other than base zoning as reflected by an eligible county's transfer of development rights program or an interlocal agreement with a receiving city in effect as of January 1, 2011.
(2) The number of transferable development rights includes the development rights from agricultural and forestlands of long-term commercial significance that have been previously issued under the eligible county's program for transfer of development rights, but that have not as yet been utilized to increase density or intensity in a development as of January 1, 2011.
(3) The number of transferable development rights does not include development rights from agricultural and forestlands of long-term commercial significance that have previously been removed or extinguished, such as through an existing conservation easement or mitigation or habitat restoration plan, except when consistent with subsection (2) of this section.
[ 2011 c 318 § 302.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.050 - Designation of sending areas—Inclusion of rural zoned lands under certain circumstances.

RCW 39.108.050
Designation of sending areas—Inclusion of rural zoned lands under certain circumstances.
(1) Subject to the requirements of this section, an eligible county may designate a portion of its rural zoned lands as sending areas for conservation under the eligible county's program for transfer of development rights available for transfer to receiving cities under this chapter.
(2) An eligible county may designate rural zoned lands as available for transfer to receiving cities under this chapter only if, and at such time as, fifty percent or more of the total acreage of land classified as agricultural and forestland of long-term commercial significance in the county, as of January 1, 2011, has been protected through either a permanent conservation easement, ownership in fee by the county for land protection or conservation purposes, or ownership in fee by a nongovernmental land conservation organization.
(3) To be designated as available for transfer to receiving cities under this chapter, rural zoned lands must either:
(a) Be identified by the county as top conservation priorities because they:
(i) Provide ecological effectiveness in achieving water resource inventory area goals;
(ii) Provide contiguous habitat protection, are adjacent to already protected habitat areas, or improve ecological function;
(iii) Are of sufficient size and location in the landscape to yield strategic growth management benefits;
(iv) Provide improved access for regional recreational opportunity;
(v) Prevent forest fragmentation or are appropriate for forest management;
(vi) Provide flood protection or reduce flood risk; or
(vii) Have other attributes that meet natural resource preservation program priorities; or
(b) Be identified by the state or in regional conservation plans as highly important to the water quality of Puget Sound.
(4) The portion of rural zoned lands in an eligible county designated as sending areas for conservation under the eligible county's program for transfer of development rights available for transfer to receiving cities under this chapter must not exceed one thousand five hundred development rights.
[ 2011 c 318 § 303.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.060 - Determination of total number of transferable development rights for agricultural and forestland of long-term commercial significance and designated rural zoned lands.

RCW 39.108.060
Determination of total number of transferable development rights for agricultural and forestland of long-term commercial significance and designated rural zoned lands.
On or before September 1, 2011, each eligible county must report to the Puget Sound regional council the total number of transferable development rights from agricultural and forestland of long-term commercial significance and designated rural zoned lands within the eligible county that may be available for allocation to receiving cities under this chapter, as determined under RCW 39.108.040 and 39.108.050.
[ 2011 c 318 § 304.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.070 - Allocation among local governments of transferable development rights from agricultural and forestland of long-term commercial significance and designated rural zoned lands.

RCW 39.108.070
Allocation among local governments of transferable development rights from agricultural and forestland of long-term commercial significance and designated rural zoned lands.
(1) The Puget Sound regional council must allocate among receiving cities the total number of development rights reported by eligible counties under RCW 39.108.060. Each receiving city allocated share must be determined by the Puget Sound regional council, in consultation with eligible counties and receiving cities, based on growth targets, determined by established growth management processes, and other relevant factors as determined by the Puget Sound regional council in conjunction with the counties and receiving cities.
(2) The Puget Sound regional council must report to each receiving city its receiving city allocated share on or before March 1, 2012.
(3) The Puget Sound regional council must report each receiving city allocated share to the department of commerce on or before March 1, 2012.
(4) A receiving city may become a sponsoring city by accepting all or a portion of its receiving city allocated share, adopting a plan in accordance with RCW 39.108.080, and creating one or more local infrastructure project areas to pay or finance costs of public improvements.
(5) A receiving city may, by interlocal agreement, transfer all or a portion of its receiving city allocated share to another sponsoring city. The transferred portion of the receiving city allocated share must be included in the other sponsoring city allocated share.
[ 2011 c 318 § 305.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.080 - Development plan for infrastructure.

RCW 39.108.080
Development plan for infrastructure.
(1) Before adopting an ordinance or resolution creating one or more local infrastructure project areas, a sponsoring city must adopt a plan for development of public infrastructure within one or more proposed local infrastructure project areas sufficient to utilize, on an aggregate basis, a sponsoring city specified portion that is equal to or greater than twenty percent of the sponsoring city allocated share.
(2) The plan must be developed in consultation with the department of transportation and the county where the local infrastructure project area to be created is located, be consistent with any transfer of development rights policies or development regulations adopted by the sponsoring city under RCW 39.108.090, specify the public improvements to be financed using local infrastructure project financing under RCW 39.108.120, estimate the number of any transferable development rights that will be used within the local infrastructure project area or areas and estimate the cost of the public improvements.
(3) A plan adopted under this section may be revised from time to time by the sponsoring city, in consultation with the county where the local infrastructure project area or areas are located, to increase the sponsoring city specified portion.
[ 2011 c 318 § 401.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.100 - Development rights available for transfer to receiving cities.

RCW 39.108.100
Development rights available for transfer to receiving cities.
Only development rights from agricultural and forestland of long-term commercial significance within the eligible counties as determined under RCW 39.108.040, and rural-zoned lands with the eligible counties designated under RCW 39.108.050, may be available for transfer to receiving cities in accordance with this chapter.
[ 2011 c 318 § 403.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.120 - Creating a local infrastructure project area.

RCW 39.108.120
Creating a local infrastructure project area.
(1) Before adopting an ordinance or resolution creating one or more local infrastructure project areas, a sponsoring city must:
(a) Provide notice to the county assessor, county treasurer, and county within the proposed local infrastructure project area of the sponsoring city's intent to create one or more local infrastructure project areas. This notice must be provided at least one hundred eighty days in advance of the public hearing as required by (b) of this subsection;
(b) Hold a public hearing on the proposed formation of the local infrastructure project area.
(2) A sponsoring city may create one or more local infrastructure project areas by ordinance or resolution that:
(a) Describes the proposed public improvements, identified in the plan under RCW 39.108.080, to be financed in each local infrastructure project area;
(b) Describes the boundaries of each local infrastructure project area, subject to the limitations in RCW 39.108.130; and
(c) Provides the date when the use of local property tax allocation revenues will commence and a list of the participating taxing districts.
(3) The sponsoring city must deliver a certified copy of the adopted ordinance or resolution to the county assessor, county treasurer, and each other participating taxing district within which the local infrastructure project area is located.
[ 2011 c 318 § 601.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.130 - Limitations on local infrastructure project areas.

RCW 39.108.130
Limitations on local infrastructure project areas.
The designation of any local infrastructure project area is subject to the following limitations:
(1) A local infrastructure project area is limited to contiguous tracts, lots, pieces, or parcels of land without the creation of islands of territory not included in the local infrastructure project area;
(2) The public improvements to be financed with local infrastructure project financing must be located in the local infrastructure project area and must, in the determination of the sponsoring city, further the intent of this chapter;
(3) Local infrastructure project areas created by a sponsoring city may not comprise an area containing more than twenty-five percent of the total assessed value of taxable property within the sponsoring city at the time the local infrastructure project areas are created;
(4) The boundaries of each local infrastructure project area may not overlap and may not be changed during the time period that local infrastructure project financing is used within the local infrastructure project area, as provided under this chapter; and
(5) All local infrastructure project areas created by the sponsoring city must comprise, in the aggregate, an area that the sponsoring city determines (a) is sufficient to use the sponsoring city specified portion, unless the sponsoring city satisfies its sponsoring city allocated share under RCW 39.108.090(1)(b)(ii), and (b) is no larger than reasonably necessary to use the sponsoring city specified portion in projected future developments.
[ 2011 c 318 § 602.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.108 - Local Infrastructure Project Areas. › 39.108.140 - Participating taxing districts.

RCW 39.108.140
Participating taxing districts.
Participating taxing districts must allow the use of all of their local property tax allocation revenues for local infrastructure project financing.
[ 2011 c 318 § 603.]
NOTES:
Rules—2011 c 318: See note following RCW 39.108.005.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.005 - Findings—Purpose.

RCW 39.110.005
Findings—Purpose.
(1) The legislature finds that the issuance of taxable nonrecourse revenue bonds by the Washington economic development finance authority has provided a number of Washington firms with the financing necessary to grow and create jobs. The legislature further finds that municipal authority to issue taxable nonrecourse revenue bonds does not exist and that authorizing the local issuance of taxable bonds for economic development purposes will increase local capacity to strengthen businesses and create jobs.
(2) It is the purpose of this chapter to grant new authority for cities, counties, and port districts that created public corporations under chapter 39.84 RCW prior to 2012, in order to build on the expertise with tax-exempt nonrecourse revenue bond financing developed by these municipalities. Therefore, these municipalities are permitted to create local economic development finance authorities to act as a financial conduit that, without using state or local government funds or lending the credit of the state or local governments, can issue taxable and nontaxable nonrecourse revenue bonds, and participate in federal, state, and local economic development programs to help facilitate access to needed capital by Washington businesses. It is also a primary purpose of this chapter to encourage the development of local innovative approaches to the problem of unmet capital needs. This chapter must be construed liberally to carry out its purposes and objectives.
[ 2012 c 193 § 1.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.030 - Lending to authority—Issuance of revenue obligations—Delegation of authority.

RCW 39.110.030
Lending to authority—Issuance of revenue obligations—Delegation of authority.
(1) No municipality may give or lend any money or property in aid of an authority. The municipality that creates an authority must annually review any financial statements of the authority and at all times must have access to the books and records of the authority. No authority may issue revenue obligations under this chapter except upon the approval of both the municipality under the auspices of which it was created and the county, city, or town within whose planning jurisdiction the economic development activity to be financed lies. Upon receiving approval from these jurisdictions, an authority must, before bonds may be issued, obtain one of the following:
(a) A letter of credit supporting the creditworthiness of the borrower from a bank with an investment grade credit rating;
(b) Confirmation that the borrower has arranged for private placement of the bonds with an institutional investor; or
(c) Confirmation that the borrower has an investment grade credit rating of their own.
(2) An authority established under the terms of this chapter constitutes an authority and an instrumentality (within the meaning of those terms in the regulations of the United States treasury and the rulings of the internal revenue service prescribed pursuant to 26 U.S.C. Sec. 103 of the federal internal revenue code of 1986, as amended) may act on behalf of the municipality under whose auspices it is created for the specific public purposes authorized by this chapter. The authority is not a municipal corporation within the meaning of the state Constitution and the laws of the state, or a political subdivision within the meaning of the state Constitution and the laws of the state, including without limitation, Article VIII, section 7 of the Washington state Constitution. A municipality may not delegate to an authority any of the municipality's attributes of sovereignty including, without limitation, the power to tax, the power of eminent domain, and the police power.
[ 2012 c 193 § 4.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.050 - Operating procedures.

RCW 39.110.050
Operating procedures.
(1) An authority established pursuant to this chapter must adopt general operating procedures for the authority. The authority must also adopt operating procedures for individual programs as they are developed for obtaining funds and for providing funds to borrowers. These operating procedures must be adopted by resolution prior to the authority operating the applicable programs.
(2) The operating procedures must include, but are not limited to:
(a) Appropriate standards for securing loans and other financing the authority provides to borrowers, such as guarantees or collateral; and
(b) Strict standards for providing financing to borrowers, such as:
(i) The borrower is a responsible party with a high probability of being able to repay the financing provided by the authority;
(ii) The financing is reasonably expected to benefit the creating municipality by enabling a borrower to increase or maintain jobs or capital in the municipality;
(iii) The borrowers with the greatest needs or that provide the most public benefit are given higher priority by the authority; and
(iv) The financing is consistent with any plan adopted by the authority under the provisions of RCW 39.110.060.
[ 2012 c 193 § 6.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.060 - Plan of economic development.

RCW 39.110.060
Plan of economic development.
(1) Any authority established pursuant to this chapter must adopt a general plan of economic development finance objectives to be implemented by the authority during the period of the plan. The authority may exercise the powers authorized under this chapter prior to the adoption of the initial plan. In developing the plan, the authority must consider and set objectives for:
(a) Employment generation associated with the authority's programs;
(b) The application of funds to economic sectors and economic development activity evidencing need for improved access to capital markets and funding resources;
(c) Eligibility criteria for participants in authority programs;
(d) The use of funds and resources available from or through federal, state, local, and private sources and programs;
(e) New programs which serve a targeted need for financing assistance within the purposes of this chapter; and
(f) Opportunities to improve capital access as evidenced by programs existent in other localities or as they are made possible by results of private capital market circumstances.
(2) Upon adoption of the general plan the authority must conduct its programs in observance of the objectives established in the plan. The authority may periodically update the plan as determined necessary by the authority.
[ 2012 c 193 § 7.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.070 - Prohibited practices.

RCW 39.110.070
Prohibited practices.
Notwithstanding any other provision of this chapter, an authority may not:
(1) Give any municipal or state money or property or loan any municipal or state money or credit to or in aid of any individual, association, company, or corporation, or become directly or indirectly the owner of any stock in or bonds of any association, company, or corporation;
(2) Issue bills of credit or accept deposits of money for time or demand deposit, administer trusts, engage in any form or manner in, or in the conduct of, any private or commercial banking business, or act as a savings bank or savings and loan association other than as provided in this chapter;
(3) Be or constitute a bank or trust company within the jurisdiction or under the control of the director of financial institutions, the comptroller of the currency of the United States of America, or the treasury department thereof;
(4) Be or constitute a bank, broker, or dealer in securities within the meaning of, or subject to the provisions of, any securities, securities exchange, or securities dealers' law of the United States of America or the state;
(5) Engage in the financing of housing as provided for in chapter 43.180 RCW;
(6) Engage in the financing of health care facilities as provided for in chapter 70.37 RCW;
(7) Engage in financing higher education facilities as provided for in chapter 28B.07 RCW; or
(8) Exercise any of the powers authorized in this chapter or issue any revenue bonds with respect to any economic development activity unless the economic development activity is located wholly within the boundaries of the municipality under whose auspices the authority is created or unless the economic development activity comprises energy facilities or solid waste disposal facilities which provide energy for or dispose of solid waste from the municipality or the residents thereof.
[ 2012 c 193 § 9.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.090 - Bonds—Payment source—Disclosures—Proceeds not public money—Contracting.

RCW 39.110.090
Bonds—Payment source—Disclosures—Proceeds not public money—Contracting.
(1) Bonds issued by an authority established under this chapter are not considered to constitute a debt of the state, of the municipality, or of any other municipal corporation, quasi-municipal corporation, subdivision, or agency of this state or to pledge any or all of the faith and credit of any of these entities. The revenue bonds are payable solely from both the revenues derived as a result of the economic development activities funded by the revenue bonds including, without limitation, amounts received under the terms of any financing document or by reason of any additional security furnished by beneficiaries of the economic development activity in connection with the financing thereof, and money and other property received from private sources. The issuance of bonds under this chapter do not obligate, directly, indirectly, or contingently, the state or any political subdivision of the state to levy any taxes or appropriate or expend any funds for the payment of the principal or the interest on the bonds. Each revenue bond must contain on its face, and any disclosure document prepared in conjunction with the offer and sale of bonds must include, statements to the effect that:
(a) Neither the state, the municipality, or any other municipal corporation, quasi-municipal corporation, subdivision, or agency of the state is obligated to pay the principal or the interest thereon;
(b) No tax funds or governmental revenue may be used to pay the principal or interest thereon; and
(c) Neither any or all of the faith and credit nor the taxing power of the state, the municipality, or any other municipal corporation, quasi-municipal corporation, subdivision, or agency thereof is pledged to the payment of the principal of or the interest on the revenue bond.
(2) Neither the proceeds of bonds issued under this chapter nor any money used or to be used to pay the principal of, premium, if any, or interest on the bonds constitute public money or property. All of such money must be kept segregated and set apart from funds of the state and any political subdivision of the state and are not subject to appropriation or allotment by the state or subject to the provisions of chapter 43.88 RCW.
(3) Contracts entered into by an authority must be entered into in the name of the authority and not in the name of the state or any political subdivision of the state. The obligations of the authority under such contracts are obligations only of the authority and are not, in any way, obligations of the municipality creating the authority or the state. An authority may incur only those financial obligations which will be paid from revenues received pursuant to financing documents, from fees or charges paid by beneficiaries of the economic development activities funded by the revenue bonds, or from the proceeds of revenue bonds.
[ 2012 c 193 § 11.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.100 - Financing documents with borrowers—Trust—Trust agreement.

RCW 39.110.100
Financing documents with borrowers—Trust—Trust agreement.
(1)(a) An authority may enter into financing documents with borrowers regarding bonds issued by the authority that may provide for the payment by each borrower of amounts sufficient, together with other revenues available to the authority, if any, to:
(i) Pay the borrower's share of the fees established by the authority;
(ii) Pay the principal of, premium, if any, and interest on outstanding bonds of the authority issued in respect of such borrower as the same become due and payable; and
(iii) Create and maintain reserves required or provided for by the authority in connection with the issuance of such bonds.
(b) The payments are not subject to supervision or regulation by any department, committee, board, body, bureau, or agency of the state.
(2) All money received by or on behalf of the authority with respect to this issuance of its bonds must be trust funds to be held and applied solely as provided in this chapter. The authority, in lieu of receiving and applying the moneys itself, may enter into trust agreement or indenture with one or more banks or trust companies having the power and authority to conduct trust business in the state to:
(a) Perform all or any part of the obligations of the authority with respect to:
(i) Bonds issued by it;
(ii) The receipt, investment, and application of the proceeds of the bonds and money paid by a participant or available from other sources for the payment of the bonds;
(iii) The enforcement of the obligations of a borrower in connection with the financing or refinancing of any project; and
(iv) Other matters relating to the exercise of the authority's powers under this chapter;
(b) Receive, hold, preserve, and enforce any security interest or evidence of security interest granted by a participant for purposes of securing the payment of the bonds; and
(c) Act on behalf of the authority or the owners of bonds of the authority for purposes of assuring or enforcing the payment of the bonds, when due.
[ 2012 c 193 § 12.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.110 - Protection and enforcement of rights of bond owners and trustees—Bonds as securities.

RCW 39.110.110
Protection and enforcement of rights of bond owners and trustees—Bonds as securities.
(1) Any owner of bonds issued under this chapter by any authority, and the trustee under any trust agreement or indenture, may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any of their respective rights, and may become the purchaser at any foreclosure sale if the person is the highest bidder, except to the extent the rights given are restricted by the authority in any bond resolution or trust agreement or indenture authorizing the issuance of the bonds.
(2) The bonds of an authority are securities in which all public officers and bodies of this state and all counties, cities, municipal corporations, and political subdivisions, all banks, eligible banking organizations, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, insurance companies and associations, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control. However, a municipality under the auspices of which an authority was created and the county, city, or town within whose planning jurisdiction the economic development activity to be financed lies, may not invest in bonds issued by the authority.
[ 2012 c 193 § 13.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.120 - Chapter supplemental and additional.

RCW 39.110.120
Chapter supplemental and additional.
This chapter provides a complete, additional, and alternative method for accomplishing the purposes of this chapter and must be regarded as supplemental and additional to powers conferred by other laws. The issuance of bonds and refunding bonds under this chapter need not comply with the requirements of any other law applicable to the issuance of bonds.
[ 2012 c 193 § 14.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.110 - Local Economic Development Financing. › 39.110.900 - Construction.

RCW 39.110.900
Construction.
Insofar as the provisions of this chapter are inconsistent with the provisions of any general or special law, or parts thereof, the provisions of this chapter are controlling.
[ 2012 c 193 § 15.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.020 - Conditions for using state land improvement financing.

RCW 39.112.020
Conditions for using state land improvement financing.
A city may finance public improvements using state land improvement financing subject to the following conditions:
(1) The city has adopted an ordinance designating a state land improvement financing area within its boundaries and specified the public improvements proposed to be financed in whole or in part with the use of state land improvement financing.
(2) The public improvements proposed to be financed in whole or in part using state land improvement financing are expected to encourage private development within the state land improvement financing area and to increase the fair market value of real property within the state land improvement financing area.
(3) Private development that is anticipated to occur within the state land improvement financing area, as a result of the public improvements, will be consistent with the countywide planning policy adopted by the county under RCW 36.70A.210 and the city's comprehensive plan and development regulations adopted under chapter 36.70A RCW.
[ 2016 c 192 § 2.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.030 - Procedures for creating a state land improvement financing area.

RCW 39.112.030
Procedures for creating a state land improvement financing area.
Before adopting an ordinance creating the state land improvement financing area, a city must:
(1) Provide written notice of a public hearing to each taxing jurisdiction that levies regular property taxes in the state land improvement financing area, publish notice of the public hearing in a legal newspaper of general circulation within the proposed state land improvement financing area at least ten days before the public hearing, and post the notice in at least six conspicuous public places located in the proposed state land improvement financing area. Notices must describe the contemplated public improvements, estimate the costs of the public improvements, describe the portion of the costs of the public improvements to be borne by state land improvement financing, describe any other sources of revenue to finance the public improvements, describe the boundaries of the proposed state land improvement financing area, and estimate the period during which state land improvement financing is contemplated to be used. The public hearing may be held by either the governing body of the city, or a committee of the governing body that includes at least a majority of the whole governing body;
(2) Hold a public hearing on the proposed financing of the public improvement in whole or in part with state land improvement financing; and
(3) Adopt an ordinance establishing the state land improvement financing area that describes the public improvements, describes the boundaries of the state land improvement financing area, estimates the cost of the public improvements and the portion of these costs to be financed by state land improvement financing, estimates the time during which regular property taxes are to be apportioned, provides the date when the apportionment of the regular property taxes will commence, and finds that the conditions of RCW 39.112.020 are met.
[ 2016 c 192 § 3.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.040 - Public notice—Notice to officials.

RCW 39.112.040
Public notice—Notice to officials.
The city must:
(1) Publish notice in a legal newspaper of general circulation within the state land improvement financing area that describes the public improvement, describes the boundaries of the state land improvement financing area, and identifies the location and times where the ordinance and other public information concerning the public improvement may be inspected; and
(2) Deliver a certified copy of the ordinance to the county treasurer, the county assessor, and the governing body of each taxing district within which the state land improvement financing area is located.
[ 2016 c 192 § 4.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.050 - Limitations on state land improvement financing areas.

RCW 39.112.050
Limitations on state land improvement financing areas.
A state land improvement financing area is subject to the following limitations:
(1) A state land improvement financing area is limited to contiguous tracts, lots, pieces, or parcels of land without the creation of islands of property not included in the state land improvement financing area.
(2) The public improvements financed through bonds issued under RCW 39.112.070 and public improvements made on a pay-as-you-go basis must be located in the state land improvement financing area.
(3) A state land improvement financing area cannot comprise an area containing more than twenty-five percent of the total assessed value of the taxable real property within the boundaries of the city at the time the state land improvement financing area is created.
(4) The boundaries of the state land improvement financing area may not be changed for the time period that receipts from regular property taxes are used to pay bonds issued under RCW 39.112.070 and public improvement costs within the state land improvement financing area on a pay-as-you-go basis, as provided under this chapter.
[ 2016 c 192 § 5.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.060 - Apportionment of revenues.

RCW 39.112.060
Apportionment of revenues.
(1) Commencing in the calendar year following the passage of the ordinance, the county treasurer must distribute receipts from regular taxes imposed on real property located in the state land improvement financing area to the city.
(2) The city may agree to receive less than the full amount of the regular property taxes under subsection (1) of this section as long as bond debt service, reserve, and other bond covenant requirements are satisfied, in which case the balance of these tax receipts must be allocated to the taxing districts that levied regular property taxes, or have regular property taxes levied for them, in the state land improvement financing area for collection that year in proportion to their regular tax levy rates for collection that year.
(3) The city may request that the treasurer transfer the property taxes to its designated agent. The tax receipts distributed to the city or its agent under this section may only be expended to finance public improvement costs associated with the public improvements financed in whole or in part by state land improvement financing.
(4) This section does not authorize revaluations of real property by the assessor for property taxation that are not made in accordance with the assessor's revaluation plan under chapter 84.41 RCW or under other authorized revaluation procedures.
(5) The distribution of regular property tax revenue to the city must cease when regular property taxes are no longer obligated to pay the costs of the public improvements. Any excess regular property tax revenues, and earnings on the revenues, remaining at the time the distribution of regular property tax revenue terminates, must be returned to the county treasurer and distributed to the participating taxing districts that imposed regular property taxes, or had regular property taxes imposed for it, in the state land improvement financing area for collection that year, in proportion to the rates of their regular property tax levies for collection that year.
[ 2016 c 192 § 6.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.070 - General indebtedness—Requirements.

RCW 39.112.070
General indebtedness—Requirements.
(1) A city creating a state land improvement financing area and authorizing the use of state land improvement financing may incur general indebtedness, including issuing general obligation bonds, to finance the public improvements and retire the indebtedness in whole or in part from state land improvement financing it receives, subject to the following requirements:
(a) The ordinance adopted by the city creating the state land improvement financing area and authorizing the use of state land improvement financing indicates an intent to incur this indebtedness and the maximum amount of this indebtedness that is contemplated; and
(b) The city includes this statement of intent in all notices required by RCW 39.112.040.
(2) The general indebtedness incurred under subsection (1) of this section may be payable from other tax revenues, the full faith and credit of the city, and nontax income, revenues, fees, and rents from the public improvements, as well as contributions, grants, and nontax money available to the city for payment of costs of the public improvements or associated debt service on the general indebtedness.
(3) In addition to the requirements in subsection (1) of this section, a city creating a state land improvement financing area and authorizing the use of state land improvement financing may require any nonpublic participants to provide adequate security to protect the public investment in the public improvement within the state land improvement financing area.
[ 2016 c 192 § 7.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.080 - Use of tax revenue for bond repayment.

RCW 39.112.080
Use of tax revenue for bond repayment.
A city that issues bonds issued under RCW 39.112.070 to finance public improvements may pledge for the payment of such bonds all or part of any regular property tax revenues derived from the public improvements.
[ 2016 c 192 § 8.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.112 - State Land Improvement Financing Areas. › 39.112.090 - Limitation on bonds issued.

RCW 39.112.090
Limitation on bonds issued.
The bonds issued by a city under RCW 39.112.070 to finance public improvements do not constitute an obligation of the state of Washington, either general or special.
[ 2016 c 192 § 9.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.114 - Tax Increment Financing. › 39.114.030 - Public improvements.

RCW 39.114.030
Public improvements.
(1) Public improvements that are financed under this chapter may be undertaken and coordinated with other programs or efforts undertaken by the local government and other taxing districts and may be funded in part from revenue sources other than tax allocation revenues.
(2) Public improvements that are constructed by a private developer must meet all applicable state and local laws.
[ 2021 c 207 § 3.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.114 - Tax Increment Financing. › 39.114.040 - Notice.

RCW 39.114.040
Notice.
The local government designating the increment area must:
(1) Publish notice in a legal newspaper of general circulation within the jurisdiction of the local government at least two weeks before the date on which the ordinance authorizing creation of an increment area is adopted that describes the public improvements, describes the boundaries of the increment area, and identifies the location and times where the ordinance and other public information concerning the public improvement may be inspected; and
(2) Deliver a certified copy of the adopted ordinance to the county treasurer, the county assessor, and the governing body of each taxing district within which the increment area is located at the respective addresses specified pursuant to RCW 42.56.040 within 10 days of the date on which the ordinance was adopted.
[ 2023 c 354 § 3; 2021 c 207 § 4.]
NOTES:
Effective date—2023 c 354: See note following RCW 39.114.010.
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.114 - Tax Increment Financing. › 39.114.060 - General indebtedness—Security.

RCW 39.114.060
General indebtedness—Security.
(1) A local government designating an increment area may incur general indebtedness, and issue general obligation bonds or notes to finance the public improvements and retire the indebtedness, in whole or in part, from tax allocation revenues it receives.
(2) The general indebtedness incurred under subsection (1) of this section may be payable from tax allocation revenues and any other sources available to the local government for payment of the public improvement costs, including without limitation: Other tax revenues; the full faith and credit of the local government; nontax income, revenues, fees, and rents from the public improvements; and contributions, grants, and nontax resources.
(3) In addition to the requirements in subsection (1) of this section, a local government designating an increment area and authorizing the use of tax increment financing may require the nonpublic participant to provide adequate security to protect the public investment in the public improvement within the increment area.
[ 2021 c 207 § 6.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.114 - Tax Increment Financing. › 39.114.070 - Direct or collateral attacks.

RCW 39.114.070
Direct or collateral attacks.
A direct or collateral attack on the designation of the increment area or the allocation of regular property tax revenues in conformance with applicable legal requirements, including this chapter, may not be commenced more than 30 days after adoption of the ordinance as required by RCW 39.114.020.
[ 2021 c 207 § 7.]
2023 Revised Code of Washington › Title 39 - Public Contracts and Indebtedness › Chapter 39.114 - Tax Increment Financing. › 39.114.090 - Supplemental nature of chapter.

RCW 39.114.090
Supplemental nature of chapter.
This chapter supplements and neither restricts nor limits any powers that the state or any local government might otherwise have under any laws of this state.
[ 2021 c 207 § 9.]