§ 47.10.890 — Administration and amount of sale.

Washington § 47.10.890

• Jurisdiction: Washington
• Title 47: PUBLIC HIGHWAYS AND TRANSPORTATION
• Ch. 47.10: HIGHWAY CONSTRUCTION BONDS

Text

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.

Effective date — 2015 3rd sp.s. c 45: See note following RCW 47.10.889 .

Legislative History

[2015 3rd sp.s. c 45 s 2.]