28B.35.760 - Additional powers of board -- Issuance of bonds, investments, transfer of funds, etc.

Additional powers of board — Issuance of bonds, investments, transfer of funds, etc.

The board of any such university or college is hereby empowered:

     (1) To reserve the right to issue bonds later on a parity with any bonds being issued;

     (2) To authorize the investing of moneys in the bond retirement fund and any reserve account therein;

     (3) To authorize the transfer of money from the college's or universities' capital projects account to the college's or universities' bond retirement fund when necessary to prevent a default in the payments required to be made out of such fund;

     (4) To create a reserve account or accounts in the bond retirement fund to secure the payment of the principal of and interest on any bonds.

[1977 ex.s. c 169 § 88; 1969 ex.s. c 223 § 28B.40.760. Prior: 1961 ex.s. c 14 § 7. Formerly RCW 28B.40.760; 28.81.560.]

Notes: Severability -- Nomenclature -- Savings -- 1977 ex.s. c 169: See notes following RCW 28B.10.016.