Washington § 39.96.060 Calculations regarding payment of obligations—Status of payments.

Washington Statutes

§ 39.96.060 — Calculations regarding payment of obligations—Status of payments.

Washington § 39.96.060

Title 39PUBLIC CONTRACTS AND INDEBTEDNESS

Ch. 39.96PAYMENT AGREEMENTS

This text of Washington § 39.96.060 (Calculations regarding payment of obligations—Status of payments.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 39.96.060 (2026).

Text

(1)Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, if the governmental entity enters into a payment agreement with respect to those obligations, then it may elect to treat the amounts payable from time to time with respect to those obligations as the amounts payable after giving effect to the payment agreement for the purposes of calculating:

(a)Rates and charges to be imposed by a revenue-producing enterprise if the revenues are pledged or used to pay those obligations;

(b)Any taxes to be levied and collected to pay those obligation[s]; and

(c)Payments or debt service on those obligations for any other purpose.

(2)A payment agreement and any obligation of the governmental entity to make payments under the agreeme

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Subject to any covenants or agreements applicable to the obligations issued or incurred by the governmental entity, if the governmental entity enters into a payment agreement with respect to those obligations, then it may elect to treat the amounts payable from time to time with respect to those obligations as the amounts payable after giving effect to the payment agreement for the purposes of calculating:

(a) Rates and charges to be imposed by a revenue-producing enterprise if the revenues are pledged or used to pay those obligations;

(b) Any taxes to be levied and collected to pay those obligation[s]; and

(c) Payments or debt service on those obligations for any other purpose.

(2) A payment agreement and any obligation of the governmental entity to make payments under the agreement in future fiscal years shall not constitute debt or indebtedness of the governmental entity for purposes of state constitutional and statutory debt limitation provisions if the obligation to make any payments is contingent upon the performance of the other party or parties to the agreement, and no moneys are paid to the governmental entity under the payment agreement that must be repaid in future fiscal years.