Title 39 — Title 39 PUBLIC CONTRACTS AND INDEBTEDNESS
56 chapters · 633 sections in this title.
RCW 39.42.010 Scope of application.
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This chapter shall apply to all bonds, notes and other evidences of indebtedness of the state authorized by the legislature after *the effective date of this chapter, unless otherwise provided in the authorizing acts.[ 1971 ex.s. c 184 s 1.]Notes:*Reviser's note: For "the effecti…
RCW 39.42.020 Evidences of indebtedness—Issuance—Signature.
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Bonds, notes or other evidences of indebtedness shall be issued by the state finance committee. They may be issued at one time or in a series from time to time. The maturity date of each series shall be determined by the state finance committee, but in no case shall any bonds mat…
RCW 39.42.030 Evidences of indebtedness—Issuance—State finance committee, duties and powers.
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(1) The state finance committee shall meet not less than twice per calendar year and shall determine by resolution the amount, date or dates, terms, conditions, covenants, denominations, interest rate or rates (which may be fixed or variable), maturity or maturities, redemption r…
RCW 39.42.040 Disposition of proceeds from sale of bonds.
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The proceeds of the sale of any bonds shall be used solely for the purposes, including any expense incurred in connection with the issuance and sale of such bonds, specified in the general statute or special act authorizing the issuance of such bonds.[ 1971 ex.s. c 184 s 4.]
RCW 39.42.050 Anticipation notes—Issued, when—Payment of principal and interest.
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When the state finance committee has decided to issue such bonds or a portion thereof, it may, pending the issuing of such bonds, issue, in the name of the state, temporary notes in anticipation of the money to be derived from the sale of such bonds, which notes shall be designat…
RCW 39.42.070 Computation of general state revenues—Filing of certificate—Estimate of debt capacity.
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On or after *the effective date of this act, the treasurer shall compute general state revenues for the three fiscal years immediately preceding such date and shall determine the arithmetic mean thereof. As soon as is practicable after the close of each fiscal year thereafter, he…
RCW 39.42.080 Obligations allowable under debt limitation.
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The foregoing limitation on the aggregate amount of indebtedness of the state shall not prevent:(1) The issuance of obligations to refund or replace any such indebtedness existing at any time in an amount not exceeding 1.05 times the amount which, taking into account earnings fro…
RCW 39.42.090 Certificates of indebtedness—Issued, when—Retirement.
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The state finance committee may issue certificates of indebtedness in such sum or sums that may be necessary to meet temporary deficiencies of the treasury. Such certificates may be issued only to provide for the appropriations already made by the legislature and such certificate…
RCW 39.42.100 Evidences of indebtedness—Defects not to affect validity—Copy of resolution authorizing issuance filed—Action to contest before delivery.
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Bonds, notes, or other obligations issued and sold by the state of Washington pursuant to and in conformity with this chapter shall not be invalid for any irregularity or defect in the proceedings of the issuance or sale thereof, except as provided in this paragraph, and shall be…
RCW 39.42.110 Evidences of indebtedness—As negotiable instruments, legal investments, and security for deposits.
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All evidences of indebtedness issued under the provisions of this chapter shall be fully negotiable instruments and shall be legal investment for all state funds or for funds under state control and all funds of municipal corporations, and shall be legal security for all state, c…
RCW 39.42.120 Excess earnings account—Payments to United States treasury.
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The excess earnings account is created in the state treasury. From the revenue funds from which principal and interest payments on bonds are provided, the state treasurer shall periodically transfer to the excess earnings account such amounts as are owed to the federal government…
RCW 39.42.130 Aggregate state debt not to exceed debt limitation—State finance committee duties.
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(1) The state shall not contract any bonds, notes, or other evidences of indebtedness for borrowed money that would cause the aggregate state debt to exceed the debt limitation, as specified in Article VIII, section 1(b) of the state Constitution.(2) It shall be the duty of the s…
RCW 39.42.140 Working debt limit.
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The state finance committee must recommend a working debt limit for purposes of budget development for various purpose capital bond appropriations. Nothing in this section shall in any manner affect the validity of indebtedness incurred in compliance with the provisions of Articl…
RCW 39.42.150 Liquefied natural gas used as marine vessel transportation fuel—Excluded from general state revenues.
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(1) The purpose of eliminating a portion of the sales tax exemption under RCW 82.08.0261 for liquefied natural gas sold for use as a marine vessel transportation fuel is to support the Washington state ferries and other state highway system needs. For this reason, general state r…
RCW 39.42.900 Effective date—1971 ex.s. c 184.
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This act shall become effective coincident with the effective date of the constitutional amendment to Article VIII, section 1 and to Article VIII, section 3 of the Washington state Constitution as presented for a vote of the people by HJR 52, 1971 regular session. Unless such con…