28B.50.380 - Construction, reconstruction, equipping and demolition of community college facilities and acquisition of property--Bonds--Additional powers incident to bond authorization.

Construction, reconstruction, equipping and demolition of community college facilities and acquisition of property — Bonds — Additional powers incident to bond authorization.

In accordance with the provisions of RCW 28B.50.340 the college board 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 board's capital projects account to the bond retirement fund when necessary to prevent a default in the payments required to be made; and

     (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.

[1969 ex.s. c 223 § 28B.50.380. Prior: 1967 ex.s. c 8 § 38. Formerly RCW 28.85.380.]