28B.31.060 - Washington State University bond retirement fund of 1977 -- Created -- Purpose -- Payment of interest and principal on bonds and notes.

Washington State University bond retirement fund of 1977 — Created — Purpose — Payment of interest and principal on bonds and notes.

The Washington State University bond retirement fund of 1977 is hereby created in the state treasury for the purpose of payment of the principal of and interest on the bonds authorized by this chapter.

     Upon completion of the projects for which appropriations have been made by the legislature, any proceeds of the bonds and/or bond anticipation notes authorized by this chapter remaining in the Washington State University construction account shall be transferred by the board of regents to the Washington State University bond retirement fund of 1977 to reduce the transfer or transfers next required by RCW 28B.31.070.

     The state finance committee, on or before June 30th of each year, shall certify to the state treasurer the amounts required in the next succeeding twelve months for the payment of the principal of and the interest coming due on such bonds and the dates on which such payments are due. The state treasurer, not less than thirty days prior to the date on which any such interest or principal and interest payment is due, shall withdraw from any general state revenues received in the state treasury and deposit in the Washington State University bond retirement fund of 1977 an amount equal to the amount certified by the state finance committee to be due on such payment date.

[1977 ex.s. c 344 § 6.]

Notes: Severability -- 1977 ex.s. c 344: See note following RCW 28B.31.010.