28B.14.050 - 1975 state higher education bond retirement fund -- Created -- Purpose.

1975 state higher education bond retirement fund — Created — Purpose.

The 1975 state higher education bond retirement fund is hereby created in the state treasury for the purpose of the payment of principal of and interest on the bonds authorized to be issued pursuant to this chapter.

     The state finance committee, on or before June 30th of each year, shall certify to the state treasurer the amount required in the next succeeding twelve months for the payment of the principal of and the interest coming due on such bonds. On July 1st of each such year the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the 1975 state higher education bond retirement fund an amount equal to the amount certified by the state finance committee.

[1975 1st ex.s. c 237 § 5.]

Notes: Severability -- 1975 1st ex.s. c 237: See note following RCW 28B.14.010.