Title 43 — Title 43 STATE GOVERNMENT—EXECUTIVE
178 chapters · 3,474 sections in this title.
RCW 43.180.010 Declaration of public policies—Purpose.
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It is declared to be the public policy of the state and a recognized governmental function to assist in making affordable and decent housing available throughout the state and by so doing to contribute to the general welfare. Decent housing for the people of our state is a most i…
RCW 43.180.020 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Bonds" means the bonds, notes, or other evidences of indebtedness of the commission, the interest paid on which may or may not qualify for tax exemption.(2) "Certifyin…
RCW 43.180.030 Bonds not debt of state.
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Bonds issued under this chapter shall be issued in the name of the commission. The bonds shall not be obligations of the state of Washington and shall be obligations only of the commission payable from the special fund or funds created by the commission for their payment. Such fu…
RCW 43.180.040 Commission created.
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(1) There is hereby established a public body corporate and politic, with perpetual corporate succession, to be known as the Washington state housing finance commission. The commission is an instrumentality of the state exercising essential government functions and, for purposes …
RCW 43.180.050 Housing financing powers—Annual audit.
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(1) In addition to other powers and duties prescribed in this chapter, and in furtherance of the purposes of this chapter to provide decent, safe, sanitary, and affordable housing for eligible persons, the commission is empowered to:(a) Issue bonds in accordance with this chapter…
RCW 43.180.060 No power of eminent domain or taxation.
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The commission does not have the power of eminent domain and the commission does not have the power to levy any taxes of any kind.[ 1983 c 161 s 6.]
RCW 43.180.070 Housing finance plan.
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The commission shall adopt a general plan of housing finance objectives to be implemented by the commission during the period of the plan. The commission may exercise the powers authorized under this chapter prior to the adoption of the initial plan. In developing the plan, the c…
RCW 43.180.080 General powers.
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In addition to other powers and duties specified in this chapter, the commission may:(1) Establish in resolutions relating to any issuance of bonds, or in any financing documents relating to such issuance, such standards and requirements applicable to the purchase of mortgages an…
RCW 43.180.090 Selection of bond counsel—Written policies to be adopted.
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(1) The commission shall adopt written policies to provide for the selection of bond counsel. The policies shall provide for the creation and maintenance of a roster of attorneys whom the commission believes possess the requisite special expertise and professional standing to pro…
RCW 43.180.100 Selection of underwriters—Written policies to be adopted.
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(1) The commission shall adopt written policies to provide for the selection of underwriters. The policies shall provide for the creation of a roster of underwriters whom the commission believes possess the requisite special expertise and professional standing to provide bond mar…
RCW 43.180.110 Review of initial policies adopted under RCW 43.180.090 and 43.180.100—Adoption—Change.
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The commission shall submit the initial policies adopted under RCW 43.180.090 and 43.180.100 to the chief clerk of the house and the secretary of the senate for transmittal to and review by the appropriate standing committees and the joint administrative rules review committee. B…
RCW 43.180.120 Rules for fair allocation of bond proceeds for nonrental single-family housing.
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The legislature recognizes that the demand for mortgage loans for nonrental single-family housing will probably greatly exceed the supply of bond proceeds available to satisfy the demand. Therefore, the commission shall adopt rules providing procedures to assure that the bond pro…
RCW 43.180.130 Protection of bondholders—Mortgage insurance.
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The commission is encouraged to adopt policies which will assure that bondholders will be protected against the failure to make mortgage payments financed under this chapter. Such policies may require, among other things, mortgage insurance.[ 1983 c 161 s 13.]
RCW 43.180.140 Rules for energy efficiency.
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The commission shall adopt rules providing for financing assistance to implement cost-effective energy efficiency improvements.[ 1983 c 161 s 14.]
RCW 43.180.150 Bond issues—Terms—Issuance—Purchase, etc.
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(1) The commission's bonds shall bear such date or dates, mature at such time or times, be in such denominations, be in such form, be registered or registrable in such manner, be made transferable, exchangeable, and interchangeable, be payable in such medium of payment, at such p…
RCW 43.180.160 Debt limitation—Washington works housing program.
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(1) The total amount of outstanding indebtedness of the commission may not exceed $14,000,000,000 at any time. The calculation of outstanding indebtedness shall include the initial principal amount of an issue and shall not include interest that is either currently payable or tha…
RCW 43.180.170 Bond issues—Disposition of proceeds—Special fund.
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Proceeds from the sale of all bonds issued under this chapter received by the commission shall be deposited forthwith by the commission in any trust company, savings bank, savings and loan association, or bank having the powers of a trust company within or without the state, in a…
RCW 43.180.180 Bond issues—Disposition of revenues—Special trust fund.
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All revenues received by the commission including funds received from contributions or grants or in any other form to pay principal of and interest on bonds or for other bond requirements such as reserves shall be deposited by the commission in any trust company, savings bank, sa…
RCW 43.180.190 Legal investments.
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Bonds issued under this chapter are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations,…
RCW 43.180.200 Internal revenue code.
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For purposes of the code:(1) The legislature reserves the right at any time to alter or change the structure, organization, programs, or activities of the commission and to terminate the commission, so long as the action does not impair any outstanding contracts entered into by t…
RCW 43.180.220 Housing finance program—Mortgage financing—Investments—Flexible loan underwriting guidelines.
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The commission, in cooperation with the *department of community, trade, and economic development, and the state investment board, shall develop and implement a housing finance program that:(1) Provides subsidized or unsubsidized mortgage financing for single-family homeownership…
RCW 43.180.230 Housing finance program—Program elements.
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The housing finance program developed under RCW 43.180.220 shall:(1) Be limited to borrowers with incomes that do not exceed one hundred fifteen percent of the state or county median family income, whichever is higher, adjusted for family size;(2) Be limited to first-time homebuy…
RCW 43.180.240 Housing finance program—Report to legislature annually—Implementation.
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(1) The commission shall submit to the legislature in its annual report a summary of the progress of the housing finance program developed under RCW 43.180.220. The report shall include, but not be limited to the number of loans made and location of property financed under RCW 43…
RCW 43.180.245 Condominium conversion tenant-to-homeowner program.
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The commission shall implement a condominium conversion tenant-to-homeowner program focused on opportunities for first-time homeownership. The program must assist tenants in multifamily residential buildings that are planned to be converted to condominium ownership by providing i…
RCW 43.180.250 Veteran homeownership downpayment assistance program—Rules.
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(1) By January 1, 2007, the Washington state housing finance commission shall create and implement a veteran homeownership downpayment assistance program to work in conjunction with the commission's housing finance programs. The program will assist the following individuals purch…
RCW 43.180.260 Sustainable energy trust program.
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(1) If economically feasible, the commission shall develop and implement a sustainable energy trust program to provide financing for qualified improvement projects. In developing the sustainable energy trust program, the commission shall establish eligibility criteria for financi…
RCW 43.180.265 Aviation biofuels facilities and production—Bond issuance—Financing powers—Definitions.
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(1) The commission may:(a) Issue bonds for the purpose of financing all or part of the project costs of facilities that are primarily for the production, processing, or handling of aviation biofuels or for the production, processing, or handling of nonfossil biogenic feedstocks t…
RCW 43.180.290 Beginning farmer financing program.
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(1) The commission may develop and implement a program to provide financing for beginning farmers. In developing the program, the commission shall establish eligibility criteria for financing that will enable it to choose applicants who are likely to repay loans made or acquired …
RCW 43.180.295 Renewable energy systems—Report—Financing tool.
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(1) It is the intent of the legislature to investigate methods by which the state may establish or facilitate financing models that allow electric utilities in the state to maximize federal tax incentives and monetize the depreciation of renewable energy systems and other distrib…
RCW 43.180.300 Definitions.
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As used in RCW 43.180.310 through 43.180.360, the following terms have the meanings indicated unless the context clearly requires otherwise.(1) "Construction" or "construct" means construction and acquisition, whether by device, purchase, gift, lease, or otherwise.(2) "Facilities…
RCW 43.180.310 Commission powers.
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The commission has the following powers with respect to nonprofit facilities together with all powers incidental thereto or necessary for the performance thereof:(1) To make secured loans to nonprofit corporations for the purpose of providing temporary or permanent financing or r…
RCW 43.180.320 Revenue bonds.
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(1) The proceeds of the revenue bonds of each issue shall be used solely for the purposes set forth in this subchapter and shall be disbursed in such manner and under such restrictions, if any, provided in the resolution authorizing the issuance of the revenue bonds or in the tru…
RCW 43.180.330 Revenue refunding bonds.
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The commission may provide by resolution for the issuance of revenue refunding bonds for the purpose of refunding any obligations issued for a nonprofit facility, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redempti…
RCW 43.180.340 Trust agreements.
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Any bonds issued under this subchapter may be secured by a trust agreement between the commission and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement may evidence a pledge or assignm…
RCW 43.180.350 Lessees or assignees.
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A lessee or contracting party under a sale contract or loan agreement shall not be required to be the eventual user of a nonprofit facility if any sublessee or assignee assumes all of the obligations of the lessee or contracting party under the lease, sale contract, or loan agree…
RCW 43.180.360 Default.
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The proceedings authorizing any revenue bonds under this subchapter or any financing document securing the revenue bonds may provide that if there is a default in the payment of the principal of or the interest on the bonds or in the performance of any agreement contained in the …
RCW 43.180.900 Conflict with federal requirements.
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If any part of this chapter is found to be in conflict with federal requirements which are a prescribed condition to the allocation of federal funds to the state, the conflicting part of this chapter is hereby declared to be inoperative solely to the extent of the conflict and wi…
RCW 43.180.901 Liberal construction.
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This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof.[ 1983 c 161 s 23.]
RCW 43.180.902 Captions not part of law.
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As used in this chapter and RCW 82.04.408, section captions constitute no part of the law.[ 1983 c 161 s 24.]
RCW 43.180.904 Effective dates—1983 c 161.
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(1) Except as provided in subsection (2) of this section, this act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect immediately.(2) Section 10 of th…
RCW 43.180.905 Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
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For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to …