28A.525.230 - Bonds authorized -- Amount -- As compensation for sale of timber -- Sale, conditions.

Bonds authorized — Amount — As compensation for sale of timber — Sale, conditions.

For the purpose of furnishing funds for state assistance to school districts in providing for the construction of common school plant facilities, the state finance committee is hereby authorized to issue general obligation bonds of the state of Washington in the sum of twenty-two million seven hundred thousand dollars or so much thereof as may be required to provide state assistance to local school districts for the construction of common school plant facilities and to compensate the common school construction fund for the sale of timber from common school, indemnity, and escheat trust lands sold to the parks and recreation commission prior to March 13, 1980, pursuant to RCW *43.51.270 and **43.51.280. The amount of bonds issued under RCW 28A.525.230 through 28A.525.300 shall not exceed the fair market value of the timber. No bonds authorized by RCW 28A.525.230 through 28A.525.300 shall be offered for sale without prior legislative appropriation and these bonds shall be paid and discharged in not more than thirty years of the date of issuance.

[1990 c 33 § 471; 1985 ex.s. c 4 § 12; 1980 c 141 § 1. Formerly RCW 28A.47B.010.]

Notes: Reviser's note: *(1) RCW 43.51.270 was recodified as RCW 79A.05.210 pursuant to 1999 c 249 § 1601.

     **(2) RCW 43.51.280 was repealed by 1995 c 211 § 6, effective July 1, 1995.

Severability -- 1985 ex.s. c 4: See RCW 43.99G.900.