Special assessment bonds — Guaranty fund.

The governing body of a special district issuing special assessment bonds or notes may create and pay money into a special assessment bond guaranty fund to guaranty special assessment bonds and notes issued by the special district. A portion of the special assessments collected by a special district may be placed into its special assessment bond guaranty fund.

[1986 c 278 § 20.]

Notes: Severability -- 1986 c 278: See note following RCW 36.01.010.