43.99C.050 - Retirement of bonds and notes from 1979 handicapped facilities bond redemption fund -- Retirement of bonds and notes from state general obligation bond retirement fund.

Retirement of bonds and notes from 1979 handicapped facilities bond redemption fund — Retirement of bonds and notes from state general obligation bond retirement fund.

The 1979 handicapped facilities bond redemption fund, hereby created in the state treasury, shall be used for the purpose of the payment of the principal of and redemption premium, if any, and interest on the bonds and the bond anticipation notes authorized to be issued under this chapter.

     The state finance committee, on or before June 30 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 interest coming due on the bonds. Not less than thirty days prior to the date on which any interest or principal and interest payment is due, the state treasurer shall withdraw from any general state revenue received in the state treasury and deposit in the 1979 handicapped facilities bond redemption fund an amount equal to the amount certified by the state finance committee to be due on the payment date.

     If a state general obligation bond retirement fund is created in the state treasury by chapter 230, Laws of 1979 ex. sess., and becomes effective by statute prior to the issuance of any of the bonds authorized by this chapter, the state general obligation bond retirement fund shall be used for purposes of this chapter in lieu of the 1979 handicapped facilities bond redemption fund, and the 1979 handicapped facilities bond redemption fund shall cease to exist.

[1979 ex.s. c 221 § 9.]

Notes: Severability -- Referral to electorate -- 1979 ex.s. c 221: See notes following RCW 43.99C.010.

State general obligation bond retirement fund: RCW 43.83.160.